Wall Street investors are becoming more optimistic after oil prices pulled back from recent highs. The decline eased fears about inflation and helped fuel another rally in technology stocks.
The market had been worried that rising energy costs could slow economic growth and pressure consumer spending. However, improving geopolitical sentiment helped calm investors.
Technology and AI-related companies led the rebound as traders focused on strong earnings results and long-term growth opportunities.
The S&P 500 and Nasdaq both climbed higher as investor confidence returned. Analysts say lower energy prices could also help the Federal Reserve avoid additional aggressive policy moves.
Strong corporate earnings remain one of the biggest reasons investors continue buying stocks despite ongoing global uncertainty.
