Stock market dips down as oil prices rise again | Northwest Arkansas Democrat-Gazette

U.S. stocks edged down on Monday, slipping from record levels as rising oil prices reflected uncertainty about the timing of a reopening of the Strait of Hormuz. The S&P 500 fell 0.1% to 7,753.11, the Dow Jones Industrial Average dropped 60.95 points to 53,975.98, and the Nasdaq Composite declined 85.26 points to 26,605.36. Market momentum cooled after a rally supported by strong earnings; FactSet expects S&P 500 earnings per share to jump 50% in the spring from a year earlier, the best growth in five years. Berkshire Hathaway rose 1.5%. MarineMax surged 46.1% after agreeing to sell itself for about $1.5 billion in cash to a Blackstone portfolio company. Varex Imaging gained 48.8% after Teledyne said it would buy the X-ray imaging components maker for $18.90 per share. Intel slid 4.1% on plans to sell $15 billion of stock. Brent crude rose 5% to $87.72, and investors await Wednesday’s inflation data, forecast to ease from 3.5% to 3.4%.