It’s a break from the usual playbook since the start of the war, where stock prices have tended to go in the opposite direction of oil prices. Russell 2000 index of smaller companies rose 16.70 points, or 0.7% to 2,519.99.Shares of airlines and travel companies rebounded from losses in recent weeks related to the U.S. and Israeli attack on Iran and surging energy prices. United Airlines rose 3.2%.Norwegian Cruise Line Holdings climbed over 2% and Expedia Group jumped more than 4%.Worries about pricey AI-related stocks, along with uncertainty about the Middle East conflict, have dropped the S&P 500 about 4% from its record high close on January 27.The benchmark is trading at about 21 times expected earnings, down from over 23 in November, but still above its average forward price-earnings ratio of 19 over the past five years, according to LSEG data.
Published at: 2026-03-17 22:55:15
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