Global Stocks Rise and Oil Prices Drop on Peace Hopes
Global stocks rose and oil prices fell as investors hoped for progress in Middle East peace talks. IBM shares jumped on funding while Nvidia saw profit taking.
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Equity markets in the United States rose on May 21 as investors bet on progress in peace talks to end the conflict with Iran. The Dow Jones Industrial Average gained 276.31 points, or 0.55%, to 50,285.66, while the S&P 500 rose 0.17% to 7,445.72 and the Nasdaq Composite rose 0.09% to 26,293.10. Energy prices retreated from session highs. Easing geopolitical friction provides a relief valve for inflation expectations and consumer spending concerns that have dominated the market since February 28.
