Wall Street recovers as oil prices hit four-week highs

New York stock markets saw a recovery following a three-day losing streak, driven by bond market activity and central bank insights. The Dow Jones Industrial Average rose 0.22% to 53,463.05, the Nasdaq increased 0.16% to 26,331.09, and the S&P 500 climbed 0.21% to 7,707.98.

This positive movement followed the release of the Federal Reserve's July meeting minutes and an announcement from the U.S. Treasury regarding plans to increase the duration of government bond buybacks.

Concurrently, oil prices reached a four-week high due to geopolitical tensions in the Middle East, specifically regarding the Strait of Hormuz and the United Arab Emirates' decision to suspend economic transactions with Iran. Brent crude rose 0.7% to $91.62 per barrel, while West Texas Intermediate (WTI) increased 1.1% to $85.83 per barrel.