Economics

U.S. Stocks Rise to Records Amid Middle East Calm: Markets Wrap

Treasuries yields decline; crude back below $60 a barrel
Pound weakens after BOE says it’s debating merits of stimulus

Allianz Global Investors’ Mona Mahajan says U.S. economic data remains in the forefront in spite of increased tension between the U.S. and Iran.Source: Bloomberg

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By Randall Jensen and Vildana Hajric

January 8, 2020 at 4:46 PM EST

Updated on

January 9, 2020 at 4:05 PM EST

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U.S. stocks rose to fresh records as investor appetite for risk returned after America and Iran stepped back from the brink of war.

The S&P 500, Dow Jones Industrial Average and Nasdaq indexes all closed at all-time highs as the conflict between the U.S. and Iran deescalated. Oil fell below $60 a barrel in New York, gold declined for a second day and the Japanese yen dropped to a two-week low versus the dollar.

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