Stocks Dip, Oil Prices Surge, Inflation Worries Mount
Vancouver News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
U.S. stocks experienced a dip today, with the S&P five hundred marking its first loss this week. The Dow Jones Industrial Average and Nasdaq composite also fell, pressured by rising oil prices. Benchmark U.S. crude and Brent crude surged due to the ongoing war with Iran, causing inflation worries. U.S. wholesale prices unexpectedly rose to three point four percent last month, with gasoline averaging three dollars and eighty-four cents per gallon. Wall Street anticipates the Federal Reserve to hold interest rates steady, while Treasury yields edged up. Mixed earnings reports kept things in check, with Macys shares jumping eight point two percent and General Mills dropping one percent. Overseas, European indexes were mixed after gains in Asia.
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