US Stock Market Today: Wall Street Holds Near Record Highs as Oil Rises, Earnings Weigh
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US stocks traded near record highs as oil prices rose due to Middle East supply concerns and mixed earnings reports kept trading uneven. Investors tracked lower jobless claims, Treasury yields, and the next round of corporate results.
US stocks remained near record highs after the S&P 500 closed above 7,000 for the first time. The S&P 500 stayed near the 7,000 mark after closing at a record 7,022.95 on Wednesday. Oil prices rose about 3.5% due to supply concerns around the Strait of Hormuz. US initial jobless claims fell to 207,000, below economists' estimates of 215,000. Treasury yields held near recent levels, with the 2-year yield near 3.76% and the 10-year yield near 4.28%. Quarterly results produced sharp moves across various sectors, with gains in some large stocks offsetting weakness in others.
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