Wall Street Holds Near Its Record as Brent Oil Falls Below $100 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 crude fell below $100 per barrel for the fifth straight day, boosting stocks amid easing bond market pressure.
- The 10-year Treasury yield eased to 4.93% early Tuesday after topping 5% last week, reducing borrowing costs and alleviating pressure on companies with significant fuel expenses.
- Alibaba rose 3.1% after unveiling new artificial intelligence chip technologies, while AutoZone climbed 2.7% following stronger quarterly profits. CEO Phil Daniele said the auto parts seller faced "a difficult selling environment" early in the quarter but improved afterward.
- Analysts forecast S&P 500 companies will report overall growth of nearly 29% for the third quarter from a year earlier, according to FactSet, supporting the market's current rally near record highs.
- Chinese leader Xi Jinping is set to arrive in Washington on Wednesday for a state visit and meeting with President Donald Trump, where competition to lead on artificial intelligence technology is expected to be a major theme.
36 Articles
36 Articles
Post Register
Wall Street holds near its record after Brent oil briefly falls below $98 per barrel
Wall Street is holding near its record high in a relatively quiet day for markets worldwide. The S&P 500 dipped 0.1% Tuesday and is sitting 0.5% below its all-time high set last month. The Dow Jones Industrial Average dropped 295…
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 …
Coverage Details
Bias Distribution
- 52% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
