Stocks drift lower and oil prices ease ahead of planned US-Iran talks
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Stocks on Wall Street drifted lower and oil prices eased ahead of planned US-Iran talks, with the S&P 500 inching 0.1% lower and the Dow Jones Industrial Average falling 0.6%. The market remains uncertain due to the ongoing conflict and its impact on inflation, with consumer sentiment slumping 10.7% in April and inflation expectations surging to 4.8%.
Stocks on Wall Street ended the week with modest losses. The S&P 500 fell 0.1% and the Dow Jones Industrial Average dropped 0.6%. The Nasdaq composite rose 0.4%. Oil prices slipped, with Brent crude falling 0.8% to $95.20 per barrel. US crude oil fell 1.3% to $96.57 per barrel. High-level talks between the US and Iran are planned for Saturday in Pakistan. The conflict has driven inflation, with the biggest spike in four years reported in March. Bond yields rose, with the 10-year Treasury yield climbing to 4.32%. Analysts warn of a potential drawn-out impact from the oil supply shock.
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