US stocks drift in mixed trading as oil prices keep spurting higher
The US stock market is mixed as the Federal Reserve prepares to announce its decision on interest rates, with oil prices rising due to the war with Iran. The S&P 500 was unchanged, while the Dow Jones fell 0.5% and the Nasdaq rose 0.2%.
The US stock market is drifting in mixed trading as the Federal Reserve prepares to announce its decision on interest rates. The S&P 500 was virtually unchanged, while the Dow Jones Industrial Average fell 222 points, or 0.5%, and the Nasdaq composite rose 0.2%. Oil prices continued to rise due to the war with Iran, with Brent crude up 5% to $116.77. Companies such as Visa and Starbucks reported stronger results than expected, while GE Healthcare Technologies and Robinhood Markets fell short of expectations. The Federal Reserve is expected to hold the federal funds rate steady, with the yield on the 10-year Treasury rising to 4.39%. The war with Iran has caused oil prices to jump, with Brent's price approaching its high point of the war.
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