Oil's Bumpy Ride Puts Stock Market in a Holding Pattern The stock market has been in a state of suspended animation lately, its movements influenced by geopolitical events rather than traditional economic indicators.
The recent rise in US stocks, led by the Dow and S&P 500, can be attributed to growing hopes for peace between the US and Iran.
The Strait of Hormuz, a critical waterway for global oil supplies, has been at the center of this diplomatic effort. The South Korean KOSPI index rose by 4% overnight as Asian markets responded to the news.