Wall Street Gains As Crude Tumbles, Small Caps Soar, Bitcoin Tops $68,000: What's Driving Markets Monday?

Quick Summary:

Investor sentiment turned optimistic towards risk assets early this week as plummeting oil prices, driven by Israel's decision not to target Iran's crude facilities during weekend attacks, eased concerns over an escalated Middle Eastern conflict and potential global economic disruptions.The S&P 500 gained 0.3%, the tech-heavy Nasdaq 100 mirrored this performance and the Dow added 0.6%.

West Texas Intermediate (WTI) crude – tracked by the United States Oil Fund (NYSE:USO) – dropped over 5% in midday New York trading, heading for its sharpest one-day decline since July 2022.

Economically sensitive small-cap stocks saw stronger gains, with the Russell 2000 soaring 1.5% after a stretch of losses in six of the last seven sessions.

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Author / Journalist: Piero Cingari

Category: Technology

Markets: United StatesIsrael

Topics: $BTC US78462F1030 Stories That Matter AAL Movers US94106L1098 ETFs US4642876555 US1152361010 Tech XLU BRO WM US81369Y5069 UAL IWM US81369Y6059 Equities $DOGE Benzinga QQQ Top Stories US73935A1043 US81369Y8030 LR0008862868 Economics US9100471096 Broad U.S. Equity ETFs SPY Commodities Earnings Econ #s US15189T1079 XLF US3156161024 XLK Pro Project RCL US1273871087 DIA US2036121067 USO US78467X1090 CDNS ON BTC CNP Macro Economic Events Expert Ideas CCL FFIV PA1436583006 US81369Y8865 Markets US91232N1081 NCLH XLE

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

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Article Type: News Report

Published On: 2024-10-28 @ 17:22:01 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 455 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 22 words per sentence (average)

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Copyright Owner: © Benzinga

News ID: 23293400

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