Wall Street Drives Stock Higher, Oil Lower After Iran Retaliates: Closing Bell
June 23, 2025
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9:54Now PlayingWall Street Drives Stock Higher, Oil Lower After Iran Retaliates: Closing Bell
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as posted by the channelWatch comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Alix Steel, Scarlet Fu, Carol Massar and Tim Stenovec.
Wall Street traders drove stocks higher as oil tumbled, with Iran’s retaliatory strikes at a US air base in Qatar seen as symbolic and unable to trigger a broader economic fallout. The dollar fell.
The S&P 500 extended its gain to 1% as President Donald Trump raised hopes of de-escalating the Middle East conflict, saying the Iranian attack was “very weak” and telegraphed by Tehran. West Texas Intermediate sank below $70. As worries about an imminent threat to inflation abated, Treasury yields slid. The move was also fueled by a Federal Reserve official saying rates could drop as soon as July.
Iran fired missiles at a US air base in Qatar earlier Monday after promising it would respond “proportionately and decisively” to the weekend bombing by American forces of three nuclear facilities. Qatar said the missile barrage was intercepted and the base had been evacuated in advance. A controlled geopolitical response may reduce the prospect of a broader supply-chain shock.
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