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The S&P 500 and Nasdaq composite just tallied their best month in six years, surprising the bears focused on oil prices.
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Michigan gas prices climb again, near $5 a gallon in some areas The Detroit NewsOil prices hit wartime peak, pushing U.S. gas costs to highest since level July 2022 CBS NewsGas price hikes cast questions for Detroit Three earnings The Detroit NewsOil Prices Spike, National Average Up Nearly 30 Cents in One Week AAA Gas Prices
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Dow surges nearly 800 points, S&P 500 posts first close above 7,200 and best month since 2020: Live updates CNBCStock Market Today: Nasdaq, S&P 500 Close at Records; Apple Reports Earnings — Live Updates WSJStock market today: S&P 500, Nasdaq, Dow futures tick up after gauges close April on record highs Yahoo FinanceStocks clock their best month since 2020 as Wall Street shakes off Iran oil shock MarketWatch
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Oil futures fall Thursday, reversing direction after reaching a four-year high on a report that President Donald Trump is considering escalating the war in Iran.
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Iran war: What's happening on day 62 as Trump asks Iran to ‘give up'? Al JazeeraTrump Tells Aides to Prepare for Extended Blockade of Iran WSJExclusive: Trump rejects Iran's offer, says blockade stays until nuclear deal AxiosWhite House meets with Chevron, oil traders amid Iran standoff Politico
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Consumers faced escalating prices in March as the Iran war sent oil soaring and created a new level of challenges for the Fed.
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The longer the disruption to Middle East fuel supplies lasts, the risk grows that higher energy costs will feed into broader inflation that could dent economic growth.
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