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US STOCKS-Wall Street Closes Lower as Oil Prices Jump, Indexes Notch Monthly Gains
Oil-driven inflation fears lifted Treasury yields and pushed all three major indexes lower, even as the Dow, S&P 500 and Nasdaq ended August higher.
- U.S. stocks weakened on Monday as a war-related jump in crude prices revived inflation fears, pushing the Dow Jones Industrial Average down 0.70% to 53,185.90.
- Following President Donald Trump's implementation of costly economic sanctions, Iran's President Masoud Pezeshkian said Tehran is seeking a negotiated solution to the war.
- Financial markets price in more than a 65% likelihood of a September rate hike, according to CME's FedWatch tool, as Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia, noted continued Middle East hostilities complicate the outlook.
- California's PG&E plunged 20.1%, its largest loss in over six years, while GameStop shares rose 2.9% after announcing it would pay about 27% of a $1.4 billion debt exchange using cash.
- Energy shares enjoyed the largest percentage gains among major sectors, with Halliburton and Valero Energy both advancing 1.9%, even as all three major U.S. stock indexes posted monthly gains for August.
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Wall Street Ends August Lower as Oil Surge Revives Inflation and September Rate-Hike Fears
U.S. stocks fell Monday as rising oil prices, renewed Middle East hostilities and increasingly hawkish expectations for Federal Reserve policy pressured markets, though all three ... The post Wall Street Ends August Lower as Oil Surge Revives Inflation and September Rate-Hike Fears first appeared on [your]NEWS.
Wall Street closes lower as oil prices jump, indexes notch monthly gains | Honolulu Star-Advertiser
NEW YORK >> U.S. stocks weakened today, with Wall Street turning the page on a volatile month as a war-related jump in crude prices revived inflation fears and raised the likelihood of tighter monetary policy.
·Honolulu, United States
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Total News Sources12
Leaning Left0Leaning Right4Center2Last UpdatedBias Distribution67% Right
Bias Distribution
- 67% of the sources lean Right
67% Right
C 33%
R 67%
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