Stocks climbed on Friday as Brent crude dropped 3% to $104.42, though markets remain pressured by elevated inflation and a 6.76% benchmark mortgage rate.
Brent crude fell 3% to $104.42 after nearing $110, as oil prices eased from recent highs.
U.S. oil prices topped $100 a barrel but then eased, reflecting a pullback in oil markets.
S&P 500 rose on Friday, breaking a four-day losing streak, but struggled to end the week positive amid inflation and oil price concerns.
Dow Jones Industrial Average climbed on Friday as oil prices eased, but weekly performance was mixed.
Nasdaq also climbed on Friday, but markets faced headwinds from inflation and rising rates.
U.S. equity markets posted gains on Friday, snapping a four-day losing streak as oil prices retreated from recent highs. Despite the relief rally, investors remain cautious as persistent inflation and rising mortgage rates continue to weigh on the broader economic outlook.
Rising oil prices, driven by geopolitical tensions in the Middle East, increase transportation and production costs, which fuels inflation and pressures corporate margins.