Wall Street Ticks to the Edge of Its Record as Brent Oil Falls Toward $98 per Barrel
Lower oil prices and strong corporate profits are helping stocks edge toward records as analysts forecast nearly 29% S&P 500 earnings growth, FactSet said.
- On Tuesday, Wall Street ticked closer to its record high as Brent oil fell below $100 per barrel, with stocks gaining modestly on easing bond market pressure.
- Treasury yields eased to 4.93% early Tuesday after topping 5% last week, reducing borrowing costs for companies and households amid persistent inflation concerns.
- Alibaba rose 3.1% after unveiling new AI chip technologies, while AutoZone climbed 2.7% on stronger quarterly profits; CEO Bob Martin at Thor Industries said business "never reached the inflection point many in the industry expected."
- Strong profit reports drive the current market rally; analysts forecast S&P 500 companies will report nearly 29% overall growth for the third quarter, according to FactSet, signaling sustained momentum.
- Chinese leader Xi Jinping arrives in Washington on Wednesday for a state visit with President Donald Trump, where AI technology competition is expected to be a major discussion theme.
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19 Articles
LancasterOnline
Wall Street ticks to the edge of its record as Brent oil falls toward $98 per barrel
Wall Street is ticking closer to its record high after the price of Brent oil fell back below $100 per barrel. The S&P 500 rose 0.2% Tuesday and pulled within 0.2% of its all-time high set last month. The Dow…
Bowen Island Undercurrent
US stocks hold near their record as the price of Brent crude falls back below $100 a barrel
NEW YORK (AP) — Wall Street is holding at the edge of its record high after the price of Brent oil fell back below $100 per barrel. The S&P 500 edged up 0.2% early Tuesday, a day after rallying within 0.4% of its all-time high.
World oil prices showed a decline of more than 3 per cent during Tuesday ' s bidding, Brent ' s barrel value dropped below the 98 dollar mark for the first time since 8 September. At 13:12 msk, the price of Brent ' s November futures fell by 2.66 per cent relative to the previous closure, to $97.67 per barrel. The figure fell below $98 for the first time since 8 September, reporting to RIA News. At the same time, the value of WTI …
Key indices are chasing new records after a significant drop in oil prices.
#Sawaleef Oil prices fell in trading on Tuesday afternoon after a senior Iranian official said Tehran could reopen the Strait of Hormuz within seven days if the United States eased military pressure. By 1:12 PM Moscow time, Brent crude for November delivery had fallen 2.66% to $97.67 a barrel, dropping below $98… This content, "Iranian statements shake oil markets… Brent falls below $98," first appeared on Sawaleef.
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