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US stocks rally as crude prices fall sharply

(Reuters)
24 June 2025 00:51

New York (AFP)

Wall Street stocks rose as markets shrugged off Iran's response to the weekend US military strike while petroleum-related equities plummeted with crude prices.

Iran announced it had launched missiles at a major US base in Qatar. But Qatar described the situation as stable, while energy analysts said oilfield assets were not affected.

The Dow Jones Industrial Average finished up 0.9 percent at 42,581.78.

The broad-based S&P 500 rose 1.0 percent to 6,025.17, while the tech-rich Nasdaq Composite Index jumped 0.9 percent to 19,630.97.

Among individual companies, Tesla surged 8.2 percent after the company's robotaxi service made its debut in Austin, Texas this weekend.

Northern Trust surged 8.0 percent following a Wall Street Journal report that said it had been approached by Bank of New York Mellon about a merger. Bank of New York Mellon dropped 2.2 percent.

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