Now Reading: US stocks retreat after record run as oil prices rebound
-
01
US stocks retreat after record run as oil prices rebound
US stocks closed lower on Thursday after the Dow and S&P 500 reached records earlier in the week. The Dow fell 453.64 points, or 0.83%, to 53,895.48. The S&P 500 dropped 0.18%…
The Story in Brief
US stocks closed lower on Thursday after the Dow and S&P 500 reached records earlier in the week. The Dow fell 453.64 points, or 0.83%, to 53,895.48. The S&P 500 dropped 0.18% to 7,709.99, while the Nasdaq slipped 0.04% to 26,352.45, The Economic Times reports. Investors assessed company earnings and watched for progress in peace talks between the US and Iran.
Oil prices rose, with Brent crude up 3.83% at $82.49 a barrel and US crude gaining 2.75% to $77.29. Earnings remained supportive, with 84.8% of 382 S&P 500 companies beating analyst forecasts, according to LSEG data. Earlier in the week, The Hindu reported a sharp rally as strong profits and lower oil prices lifted stocks.
The Indian Opinion
The easy story is that artificial intelligence profits have made Wall Street unstoppable. The equally lazy counter-story is that every market move now depends on one Iran headline. Thursday showed a less dramatic reality: investors are weighing earnings, oil and interest rates together. The rally still rests on demanding profit expectations, while geopolitical risk can quickly reverse sentiment. The useful test is whether the S&P 500’s 84.8% earnings beat rate translates into durable revenue growth next quarter.
Sources (2): thehindu.com, economictimes.indiatimes.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
