US stocks inch to more records as oil prices rise ahead of a blockbuster week for Wall Street
The S&P 500 inched 0.1% higher to a new record as oil prices rose over 2.5% due to the Iran war and the US blockade. Several major US companies, including Alphabet, Amazon, and Apple, are set to report their profit reports this week.
The US stock market's record-breaking rally slowed on Monday as uncertainty rose over the Iran war, while oil prices climbed. The S&P 500 rose 0.1% to a new all-time high, while the Dow Jones Industrial Average dipped 0.1%. Oil prices rose over 2.5% as tankers found the Strait of Hormuz effectively closed. The price for a barrel of Brent crude to be delivered in June climbed 2.8% to $108.23. Several major US companies are set to report their profit reports this week, including Alphabet, Amazon, Meta Platforms, Microsoft, and Apple. Verizon Communications reported stronger-than-expected profit growth and raised its forecast, while Domino's Pizza fell 8.8% after reporting weaker profit and revenue.
This content was automatically generated and/or translated by AI. It may contain inaccuracies. Please refer to the original sources for verification.