US Stocks Drift Near Their Records as Oil Prices Rise
Oil climbed as Iran and Oman negotiators remained at an impasse over reopening the Strait of Hormuz, while traders awaited U.S. inflation data.
- On Monday, United States markets pointed to a mixed open as oil prices climbed amid a stalemate over the Strait of Hormuz; S&P futures rose 0.2% while Dow Jones Industrial Average futures fell 0.14%.
- Tehran suggested it would bar vessels linked to "hostile countries" from the Strait, stalling negotiations with Oman as Iran demands the United States meet concessions before reopening shipping lanes.
- Brent crude gained 1.4% to $84.68 per barrel, boosting energy stocks; cruise lines Carnival and Norwegian fell as rising fuel costs pressured travel-sector margins.
- Economists expect Wednesday's The Labor Department inflation data to show easing to 3.4% from 3.5%, while traders see a 46% chance of a September Federal Reserve rate hike.
- Intel shares fell 4% after announcing potential $15 billion stock sales, while Berkshire Hathaway reported stronger profits and stock investments under CEO Greg Abel, with its shares rising 2.1%.
26 Articles
26 Articles
Oil prices jump, Wall Street and European shares under pressure with ...
US stock market holds near its all-time high and crude oil prices rise
NEW YORK (AP) — The U.S. stock market is drifting near its all-time high, while oil prices rise on uncertainty about when the Strait of Hormuz could reopen and get the global flow of crude going again. The S&P 500 was barely changed in early trading Monday, coming off its record set on Friday. The Dow Jones Industrial Average slipped 72 points, and the Nasdaq composite fell 0.1%. Several big tech stocks were falling in early trading, including A…
The main indexes of the New York Stock Exchanges opened in fall, pressed by losses in the technology sector and increase in oil prices in the midst of uncertainties about the reopening of the Strait of Ormuz. In addition, the week will be filled with relevant economic data, with emphasis on the American consumer price index (CPI), which generates some caution among investors. At around 10:40 (from Brasilia), the Dow Jones index fell 0.11%, to 53…
Santa Maria Times
mykxlg.comUS markets point to a mixed open and oil prices tick higher over Hormuz stalemate
U.S. markets are pointing to a mixed open as oil prices climb due to a seeming stalemate over the Strait of Hormuz. Futures for the S&P rose 0.2% Monday, while futures for the Dow Jones Industrial Average fell 0.14%. Nasdaq…
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