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

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Financial Markets Nieuws

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%.

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