Falling Oil Prices Help Calm Wall Street's Inflation Worries, While Chip Stocks Get Back to Sinking
- On Monday, Brent crude prices fell 4.9% to $83.65, helping the Dow Jones Industrial Average rise 1.2% and the S&P 500 climb 0.6% as inflation concerns eased.
- President Donald Trump decided to hold off on new strikes against Iran over the weekend, easing inflation fears that had driven oil prices between $72 and $102 last month.
- Treasury yields sank to 4.68% from 4.75% late Friday, while United Airlines flew 5.6% higher and American Airlines climbed 5.7% as fuel costs fell.
- Despite broader market gains, Micron Technology fell 4.9% Monday and Advanced Micro Devices fell 2.7%, trimming its yearly surge to 116% as investors questioned AI-driven revenue sustainability.
- In Japan, the Nikkei 225 fell 0.9% after the United States and Japan moved to support the Japanese yen, while sharp market swings persist globally.
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125 Articles
In the first operations, the Dow Jones earned 0.17%, the Nasdaq index advanced 0.71%, and the expanded S&P 500 index rose 0.33%.
New York stock exchanges opened with gains on Friday. Investors on Wall Street reacted to the US government's jobs report. That report showed that 23,000 jobs were lost in July, while growth of approximately 80,000 jobs was expected. As a result, the US central bank may become more cautious about raising interest rates.
Oil extends gains and stocks mostly down on fresh Hormuz worries
HONG KONG - Oil prices extended gains and most stocks fell further on Friday amid fading optimism over a deal to reopen the Strait of Hormuz, as reports said Iran was planning to block US and Israeli ships from the waterway as part of a deal with Oman.
Asian and Pacific stock markets without a precise direction pending the possible official announcements on the management of the Strait of Hormuz. The Tokyo Stock Exchange is about to close down by 0.3%, with Seoul falling by 0.7%. (ANSA)
US stocks edge lower as oil prices rise and more earnings reports roll in - WXXV News 25
By DAMIAN J. TROISE NEW YORK (AP) — Stocks edged further away from their recent records on Thursday as Wall Street faced pressure from rising oil prices and mixed company earnings. Wall Street opened the week soaring higher and notching records, but has calmed over the last two days. Markets are dealing with uncertainties over the ongoing U.S. war with Iran and its impact on inflation. Companies from a variety of sectors reported their latest …
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