Stock market today: Oil prices jump again on worries about the Middle East as Wall Street fades

  • 📰 AP
  • ⏱ Reading Time:
  • 41 sec. here
  • 15 min. at publisher
  • 📊 Quality Score:
  • News: 65%
  • Publisher: 51%

Financial Markets News

Iran Government,Economic Policy,General News

Crude prices jumped on worries about worsening tensions in the Middle East, while U.S. stocks pulled back further from their records. The S&P 500 edged down by 0.2% Thursday. The Dow Jones Industrial Average fell 0.4%, and the Nasdaq composite slipped by less than 0.1%.

AP correspondent Seth Sutel has the Markets in a Minute report, with stocks getting off to a sluggish start.

In the bond market, Treasury yields rose after reports suggested the U.S. economy remains solid. One showed growth for real estate, health care and other U.S. services businesses accelerated to its strongest pace since February 2023 and topped economists’ expectations, though employment trends may be slowing.

On Wall Street, Levi Strauss dropped 7.7% despite reporting better profit for the latest quarter than analysts expected. The denim company’s revenue fell short of forecasts, and it said it’s considering what to do with its Dockers brand, whose revenue fell 7% last quarter. The yield on the 10-year Treasury rose to 3.85% from 3.78% late Wednesday. The two-year yield, which moves more closely with expectations for what the Fed will do with overnight rates, rose to 3.70% from 3.64%.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 728. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: S&P 500 closes lower as rising Middle East tensions weighStock market today: S&P 500 closes lower as rising Middle East tensions weigh
Source: Investingcom - 🏆 450. / 53 Read more »

Stock Futures Slip as Middle East Tensions Rise and Nike Shares React to Mixed EarningsU.S. stock futures dipped overnight as investors grappled with escalating tensions in the Middle East and Nike's mixed first-quarter earnings report. Tech stocks led the declines, while concerns about a potential wider conflict in the region overshadowed hopes for an economic rebound.
Source: NBCPhiladelphia - 🏆 569. / 51 Read more »

Stock market today: Dow ekes out gain, but rising Middle East tensions weighStock market today: Dow ekes out gain, but rising Middle East tensions weigh
Source: Investingcom - 🏆 450. / 53 Read more »