Oil Rises 2% After Tanker Attacks

Oil Rises 2% After Tanker Attacks

Adviser Investments Vice President Chris Hagan has the market analysis for Thursday, June 13. Despite elevated international tension, major U.S. stock indexes rebounded slightly, with the Dow Jones Industrial Average and S&P 500 each up 0.4% and the NASDAQ Composite rising 0.6%. The energy sector fueled today’s market rebound after explosions on two oil tankers near the Strait of Hormuz led to a more than 2% bump in crude oil prices. Also making headlines, Tyson Foods’ stock rose 1.2% after America’s largest beef, poultry and pork processor announced a new plant-based “chicken” nugget under its new Raised & Rooted label.

 

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