Dow Jones edges lower as Goldman drags, Oil surges above $100
The post Dow Jones edges lower as Goldman drags, Oil surges above $100 appeared on BitcoinEthereumNews.com.
The Dow Jones Industrial Average (DJIA) edged lower on Monday, slipping around 50 points to trade near 47,900 after recovering from a much steeper drop at the open. The S&P 500 rose 0.2% to trade above 6,800, while the Nasdaq Composite gained 0.6% to push above 23,000. Dow Jones Industrial Average futures had plunged more than 500 points in the overnight session after President Trump announced a US blockade of the Strait of Hormuz, but equities staged a notable intraday recovery as investors appeared to bet on an eventual resolution to the US-Iran standoff. Hormuz blockade sends Oil back above $100 West Texas Intermediate (WTI) Crude Oil surged more than 5% to top $101 per barrel after Trump declared that the US Navy would blockade all vessels entering or leaving Iranian ports in the Strait of Hormuz. US Central Command (CENTCOM) clarified that the blockade would not impede vessels transiting the strait to non-Iranian ports. The announcement came after weekend negotiations in Islamabad collapsed, with Vice President JD Vance departing without a deal, citing Iran’s unwillingness to halt its nuclear weapons program. The two sides appear far apart, with Iran also demanding control of the strait, war reparations, and the release of frozen assets. Mediators from Pakistan, Egypt, and Turkey will continue talks with both nations in the coming days, according to Axios. Meanwhile, the Wall Street Journal reported that Trump is weighing a resumption of military strikes. Brent Crude jumped as much as 9% to trade near $102. The move reverses much of the relief rally that followed the April 7 ceasefire agreement, which had briefly pushed Oil prices back below $100. “Investors are now back to the drawing board trying to reassess the fair value of stocks now that it’s clear that there is no end in sight…
Filed under: News - @ April 13, 2026 5:22 pm