U.S. stocks edged lower as investors navigated a mix of rising oil prices, corporate earnings signals, and shifting expectations around Federal Reserve policy. The Dow, S&P 500, and Nasdaq all turned down after early gains, reflecting a market grappling with geopolitical tensions and inflation concerns. Indexes Pull Back All three major indexes slipped roughly between 0.3% and 0.6%, giving back some of the previous session’s momentum. The downturn followed renewed volatility in energy markets and cautious sentiment around consumer spending. Oil Prices Add Fresh Pressure Crude prices extended their sharp rally, driven by heightened worries over a potential U.S.–Iran conflict. Brent crude climbed above $71 per barrel, while West Texas Intermediate hovered near $66 — its biggest daily jump since October. Rising energy costs revived inflation concerns and weighed on equities. Walmart Earnings in Focus Walmart posted stronger‑than‑expected results, but its cautious pro...
Stocks sharply higher, rebounding with a boost from chips
North American stocks closed higher on Thursday, winning back much of the previous day’s losses, as U.S. economic data fueled optimism that the Federal Reserve would ease monetary policy and revived investor risk appetite.
All three major U.S. stock indexes posted gains as chips surged, led by Micron Technology after its better-than-expected quarterly forecast, putting the tech-heavy Nasdaq out front. The rally gained momentum as the session drew to a close, with the S&P 500 and the Nasdaq surging more than 1%. Canada’s main stock index rose 0.8%, despite a sharp drop in the shares of BlackBerry. Financial markets are pricing in a 71.3% likelihood that the U.S. central bank will reduce the Fed funds target rate by 25 basis points as soon as March, according to CME’s FedWatch tool.
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