Wall St Opens Lower as Oil Jumps on Renewed Mideast Concerns
Brent crude jumped 1.7% to $106.82 a barrel as traders weighed renewed fears of disruption around the Strait of Hormuz.
- North American indexes opened lower on Thursday as oil prices surged following a Reuters report that Iran's Supreme Leader Ayatollah Mojtaba Khamenei ordered near-weapons-grade uranium not be sent abroad, dimming hopes for talks with Washington.
- Tehran's hardening stance revived concerns about a prolonged disruption around the Strait of Hormuz, a critical route for global oil supplies, reigniting inflation fears that pressured equities.
- Walmart tumbled 7.9% and Intuit fell 18.5% on disappointing forecasts, while IBM rose 8.1% after the Trump administration announced funding for quantum computing companies in exchange for equity stakes.
- Broad market weakness saw declining issues outnumber advancers by a 2.16-to-1 ratio on the NYSE, while the S&P 500 consumer staples sector led losses with a 2% drop.
- U.S. manufacturing activity reached a four-year high in May as businesses built inventories to guard against potential shortages tied to the Iran war, though jobless claims fell last week signaling labor-market resilience.
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Times of India
The Economic TimesUS stocks today: US stocks slips as oil jumps on renewed Mideast concerns
Wall Street slipped as oil prices jumped after Iran signaled a tougher nuclear stance, raising fears of prolonged supply disruption. Rising Treasury yields and weak corporate cues, including Walmarts outlook, added pressure, offsetting strong economic data.
Wall St opens lower as oil jumps on renewed Mideast concerns
May 21 (Reuters) – Wall Street’s main indexes opened lower on Thursday as oil prices surged following a Reuters report that Iran’s Supreme Leader Ayatollah Mojtaba Khamenei ordered the country’s near-weapons-grade uranium not be sent abroad, dimming hopes for progress in talks between Washington and Tehran. The Dow Jones Industrial Average fell 25.5 points, or 0.05%, at the open to 49,983.8. The S&P 500 fell 22.2 points, or 0.30%, a…
Wall Street falls as waning Mideast peace hopes fuel oil surge, inflation worries
Wall Street's main indexes declined on Thursday as resurgent oil prices reignited inflation fears and pressured equities after a Reuters report signaled Tehran's hardening stance in talks with Washington.
Wall Street anticipates lower open as oil prices surge on Iran fears
Rising oil prices due to geopolitical tensions could exacerbate inflation, complicating central banks' efforts and impacting global markets. The post Wall Street anticipates lower open as oil prices surge on Iran fears appeared first on Crypto Briefing.
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