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Oil Prices Slide, AI Stock Buzz Fades
- On Tuesday, the Nasdaq Composite reached an intraday record for the first time since early June as technology stocks surged and oil's retreat lifted investor appetite for risk.
- Falling oil prices to a two-week low eased global supply concerns after Iran signaled it could reopen the Strait of Hormuz soon, boosting market sentiment worldwide.
- Meta edged up 0.5% as investors bet on its new AI agent Muse, while Chipmaker AMD topped $1 trillion in market valuation on Monday, with advancing issues outnumbering decliners 1.78-to-1 on the Nasdaq.
- US-Iran talks are scheduled at the United Nations General Assembly with a US-China summit to follow on Thursday, while traders price a 53.1% probability the Federal Reserve raises rates by 25 basis points in October.
- Global market strategist Lale Akoner said "markets are really seeing oil as the key macro variable here," while Boston Fed President Susan Collins backs rate hikes to manage inflation risks above the 2% target.
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97 Articles
American stock indices did not show the same dynamics on Tuesday: Dow Jones Industrial Overage ended the session in minus, S&P 500 barely changed, while Nasdaq grew, updating the record maximum.
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Nasdaq Closes at Record as AI Chip Rally Offsets Consumer-Tech Weakness
The Nasdaq finished Tuesday at a record high as Micron Technology, SanDisk and other artificial intelligence-related stocks advanced, while the S&P 500 remained just short of its peak amid oil near $100 a barrel, elevated Treasury yields and expectations surrounding interest rates and U.S.-China talks.
Coverage Details
Total News Sources97
Leaning Left7Leaning Right20Center17Last UpdatedBias Distribution45% Right
Bias Distribution
- 45% of the sources lean Right
45% Right
L 16%
C 39%
R 45%
![[your]NEWS](/_next/image?url=https%3A%2F%2Fgroundnews.b-cdn.net%2Finterests%2Ffb6dc495f74049f513563c33352175eaa0ecd509.jpg%3Fwidth%3D60&w=128&q=75)
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