US Stocks Slip in Early Trading While Oil Prices Push Higher Again
Brent crude climbed 1.5% to $98.48 a barrel as investors weighed renewed Middle East fighting and this week’s U.S. inflation reports.
- On Tuesday, U.S. stock indexes edged lower as fresh hostilities in the Middle East pushed oil prices higher, with the Dow Jones Industrial Average falling 519.16 points, or 0.97%, and the S&P 500 losing 0.30%.
- Benchmark U.S. crude surged 2.5% to $93.79 a barrel, about 40% higher than late February, following renewed fighting in the six-month U.S. war with Iran and Houthi attacks on Saudi Arabia energy facilities.
- Nvidia and Microsoft shares fell 1.68% and 1.39%, respectively, dragging on Nasdaq and S&P 500 performance, while energy stocks Marathon Petroleum and Occidental Petroleum rose 1.96% and 1.63%.
- Investors now await the Producer Price Index report on Thursday and the Consumer Price Index on Friday to gauge inflation trends, influencing The Federal Reserve's decision next week on interest rates.
- Elevated yields on 10-year Treasury notes, which rose to 4.7882% on Tuesday, have reduced the appeal of riskier equities, as Glenmede strategists warn investors should not treat a rate hike this month as settled.
12 Articles
12 Articles
US stocks slip in early trading while oil prices push higher again
Oil prices are climbing following the latest fighting in the war with Iran, while U.S. stocks are slipping in their return to trading following a three-day weekend. The S&P 500 fell 0.2% early Tuesday. The Dow Jones Industrial Average lost 543 points, or 1%, and the Nasdaq composite was down 0.2...
NEW YORK (ANP) - The New York stock exchanges closed lower on Tuesday. Investors reacted to rising oil prices due to the ongoing war in the Middle East and attacks on energy facilities in that region. Saudi Arabia, an ally of the United States, has...
US stock markets were clearly in the red after four hours of trading. Geopolitical concerns and higher US interest rates continue to keep risk appetite in check. Now the focus shifts to Friday's US CPI and PPI figures for August, the last important piece of the inflation puzzle before the Fed's interest rate decision on September 16.
Coverage Details
Bias Distribution
- 38% of the sources lean Left, 37% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
