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Stocks Rise as Oil Remains Under $90
Global stocks registered a slight increase amid a decline in oil prices below $88, due to slowing global demand and OPEC's downward revision of its demand growth forecast for 2026, along with rising U.S. oil inventories. The market was also supported by a reduction in the severity of U.S. economic data, which increased the likelihood of holding interest rates steady to 65%. Technology stocks rebounded, led by AI companies. The dollar index rose to its highest level in two weeks amid tensions between Washington and Tehran over the Strait of Hormuz, as investors await upcoming inflation and producer price data.
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