Stock market today: Dow, S&P 500, Nasdaq rise as oil retreats, GDP growth slows more than expected

Economic Indicators - The Dow Jones Industrial Average increased by approximately 0.7%, while the S&P 500 and Nasdaq Composite rose by 0.6% and 0.5%, respectively, indicating a recovery in stock markets after a sell-off [1] - The Personal Consumption Expenditures (PCE) index showed a 0.3% increase in headline prices for January compared to the previous month, while the core PCE, excluding food and energy, rose by 0.4%, consistent with economists' predictions [2][3] - The real GDP growth for the fourth quarter of last year was revised down to 0.7% from an initial reading of 1.4%, reflecting a slowdown from the 4.4% growth in the third quarter [4] Oil Market Dynamics - The ongoing conflict in Iran has led to a significant rise in oil prices, contributing to market instability and causing major US stock benchmarks to reach their lowest closing levels of 2026 [6] - Crude prices saw a pullback on Friday, with West Texas Intermediate futures dropping 2% to below $94 per barrel, and Brent crude futures retreating to just under $100 after previously exceeding that level [8] - The US has issued a second waiver for purchases of sanctioned Russian crude in an attempt to mitigate the oil supply disruption caused by the conflict, although analysts suggest this will not fully resolve the situation [7]