Yahoo Finance
US stocks edged up at the opening bell on Thursday, set to add to all-time highs as investors watched for Iran’s response to a US peace proposal and combed through labor updates and fresh earnings reports.
The Nasdaq Composite (^IXIC) rose 0.5%, while the S&P 500 (ES=F) climbed 0.2% on the heels ofrecord-high closesfor the tech-exposed benchmarks.
The Dow Jones Industrial Average (^DJI), meanwhile, fell 0.1%.
Iran is said to be evaluating a US proposal to end the near-10-week war, and it is expected to give its response as soon as Thursday,CNN reported.The signs of progress toward relieving the blocked Strait of Hormuz pushed Brent (BZ=F)oil futures below $100 a barrel, helping spur arally in gold(GC=F) as inflation worries eased.
Market sentiment also got a lift from this week’s steady march oftech earnings, indicating strength in the AI trade.
Shares in Arm (ARM) initially rose on the chip designer’supbeat revenue forecastbut then sank on Thursday on concerns about a lack of chip supply.
In abusy week for labor data, Thursday brought a Challenger report onlayoffs in April, which showed AI was blamed as the tech sector got hit hardest.
A weekly reading on jobless claimscame in cooler than expected, setting the stage for the all-important monthly jobs report on Friday.
Americans’ short-term inflation expectations rose in April, according to the New York Federal Reserve, as concerns over energy costs and the broader economic ramifications of the war in Iran have put cost increases front and center for consumers.
Consumers nowexpect inflation at 3.6% over the next year, compared to expectations of 3.4% over the same time period in March, according to survey data released Thursday.
Gas price expectations, however, have “retreated appreciably from a spike” in March, the NY Fed found.
Long-term expectations remained unchanged at 3.1% over the next three years and 3% over the next five years.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | ▲ +0.34% |
| WTI Crude | $96.90/bbl | ▲ +0.21% |
| EN590 Diesel | $846/MT | ▲ +0.18% |
| Jet Fuel A-1 | $1090/MT | ▲ +0.55% |
| Mazut M100 | $450/MT | ▼ -0.15% |
| Bitumen 60/70 | $470/MT | ▲ +0.08% |
| Sulphur Gran 99.5% | $470/MT | ▼ -0.44% |
| Urea 46% Gran | $650/MT | ▲ +1.12% |
| NPK 16-16-16 | $460/MT | ▼ -0.28% |
| Nat Gas TTF | $15.42/MMBtu | ▲ +0.92% |
Price alerts · Industry news
Comments
Post a Comment