US stocks closed out their best week since Donald Trump's election, driven by stellar bank earnings, mega tech juggernauts and milder inflation figures that have boosted hopes for further interest rate cuts later this year.
Markets US stocks closed out their best week since Donald Trump's election, driven by stellar bank earnings, mega tech juggernauts and milder inflation figures that have boosted hopes for further interest rate cuts later this year. Stocks pared gains but still secured a close up by 1% or more on Friday, with the Dow Jones Industrial Average and the S&P 500 marking their best week since the optimism spurred by the November elections.
I have to say, the recent effectiveness of sanctions against Russia's oil sector caught many of us oil bears off guard. These sanctions have significantly disrupted Russia's shadow fleet, making it difficult for them to unload cargo. Meanwhile, eased tensions in the Middle East, particularly around the Strait of Hormuz, have mitigated some of the earlier price spikes, allowing for smoother oil transit despite previous threats from Houthi rebels.
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