Wall Street holds near its record after Brent oil briefly falls below $98 per barrel
NEW YORK — Wall Street is holding near its record high Tuesday in a relatively quiet day for markets worldwide. The S&P 500 rose 0.1 percent is sitting 0.4 percent below its all-time high set last month. The Dow Jones Industrial Average was down 168 points, or 0.3 percent, as of 1:55 p.m. Eastern time, and the Nasdaq composite was adding 0.4 percent to its own record. Stocks had been higher in…
New York - Wall Street reached a near-record high on Tuesday amid a relatively calm day across global markets. The S&P 500 added 0.1 percent, hovering 0.4 percent below its all-time record set the previous month. The Dow Jones Industrial Average slipped 168 points, or 0.3 percent, at 1:55 p.m. Eastern time, while the Nasdaq composite gained 0.4 percent to match its own record high.
Earlier, stocks had shown strength, with the price of a barrel of Brent crude oil briefly dipping below $98. However, the commodity's price rebounded, reaching $99.66 per barrel, which is still significantly higher than the $72 it commanded prior to Iran's conflict with the United States. This volatility has been driven by speculation on when the ongoing war will resume the free flow of Middle Eastern crude to the global market.
On Wall Street, AutoZone surged 6.1 percent after delivering better-than-expected profit for its latest quarter, despite revenue falling short of projections. CEO Phil Daniele attributed the company's performance to a challenging environment.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
