A big spike in oil prices. Traders awoke to the news that Iran had shot down a U.S. military drone along the Strait of Hormuz -- prompting fears of a new conflict in the region, potentially cutting off some oil supply from the mouth of the Persian Gulf. July crude surged 5.4% to settle at $56.65 a barrel, a three-week high. Stocks finished with solid gains to extend their winning streak to four. The Dow Industrials rose 249 points, the Nasdaq Composite gained 64, and the S&P 500 added 27 - notching a new closing high.Energy stocks were big gainers: Noble Energy soared 6.1%, Schlumberger jumped 4.8%, and ExxonMobil rose 1.7%.
Investar Holding has received government approval for Investar Bank to hold a national bank charter. The Baton Rouge-based bank, which had first-quarter net income of $3.9 million, says the charter change will take effect on July 1.