Wall Street hangs near its records as oil prices sink
Wall Street's rally toward new records continues as oil prices slip, easing costs for households and businesses. The S&P 500 rose 0.1% to another all-time high, extending the index's climb from the prior session, while the Dow Jones Industrial Average climbed 243 points, or 0.5%, with about an hour remaining in trading; the Nasdaq was 0.1% higher. Energy-related stocks led gains as lower crude prices supported profit margins, with Norwegian Cruise Line Holdings up 5.9%, United Airlines up 6.5%, and Delta Air Lines up 3%. Brent crude fell 4.6% to $92.25 a barrel and US crude settled at $88.68, fueling hopes of a resumed flow of oil from the Persian Gulf region. In broader markets, Exxon Mobil and Chevron slipped about 1%, while Halliburton fell 3.1%, tempering gains. Bond yields eased as lower oil prices eased inflation concerns, with the 10-year Treasury yield sliding to 4.48% from 4.50% the night before. The session highlighted a broadening market rally underpinned by surprisingly strong early-2026 earnings, even as inflation and energy costs loom as ongoing considerations. Globally, European and Asian indexes were mixed, with pockets of strength and weakness across regions.
