{
  "id": 12963996,
  "title": "US stocks edge further from records as oil prices rise",
  "url": "https://urgent.news/2026/10/08/us-stocks-edge-further-from-records-as-oil-prices-rise",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-08T21:28:00.000Z",
  "source": {
    "name": "Qatar Tribune Business",
    "slug": "qatar-tribune-business",
    "url": "https://www.qatar-tribune.com/article/258269/business/us-stocks-edge-further-from-records-as-oil-prices-rise"
  },
  "original_language": "en",
  "account": "As oil prices increased, US stocks moved further away from record highs on Thursday. The S&P 500 saw a slight 0.5 percent dip, nearing a second minor loss after reaching its all-time high, while the Dow Jones Industrial Average fell 131 points, or 0.3 percent, as of 12:48 pm Eastern time. The Nasdaq composite also declined by 0.9 percent.\n\nBrent crude's price surged to $104.08 per barrel, marking a 3.8 percent rise, the highest level since 2002. The price of the international benchmark has fluctuated between $96 and nearly $110 over the past month due to uncertainty surrounding the Iran conflict and its impact on the global energy industry.\n\nDespite the fluctuations in the bond market, where the 10-year Treasury yield oscillated between 5.28 percent and 5.35 percent before settling at 5.26 percent, yields remained close to their highest level since 2002. This was attributed to worries about high inflation, large government debt, and other factors.\n\nThe US economy's continued robustness was also a positive factor, as fewer workers applied for unemployment benefits the previous week. However, high yields could slow economic growth by raising borrowing costs for everyone and put downward pressure on stock and investment prices.\n\nCompanies are under pressure to demonstrate substantial profit growth, which could counteract the negative impact on their stock prices from rising bond yields. The S&P 500's rally to a record was driven by analysts' expectations of nearly 30 percent earnings per share growth for the companies in the index during the upcoming reporting season.\n\nHowever, achieving this target has proven challenging. For example, Levi Strauss reported stronger-than-expected profits for the latest quarter and an increased profit forecast for the full fiscal year but its stock still dropped 3.1 percent due to revenue falling short of analysts' expectations. PepsiCo, on the other hand, increased its profit and revenue for the latest quarter and raised its fiscal-year profit forecast, but its stock rose only 1.3 percent after cutting its underlying profit estimate for the year due to a nearly 14 percent drop in its stock price so far.",
  "summary": "AgenciesOil prices jumped Thursday, and the price for a barrel of Brent crude got back above $104, while the US stockmarket pulled further from its record.The S&P 500 dipped 0.5 US...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}