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US stocks fall as oil rises and inflation data looms
U.S. stocks experienced a slight decline as oil prices continued to rise ahead of inflation and interest rate data. The Dow Jones Industrial Average fell by 1%, the S&P 500 decreased by 0.3%, and Nike dropped by 0.1%. Futures for West Texas Intermediate crude oil surged for the sixth consecutive session due to escalating tensions between the United States and Iran, with Brent crude reaching around $97 per barrel. The upcoming inflation data is expected to influence interest rate forecasts, with a potential 25 basis point increase anticipated according to market probabilities, amid rising U.S. Treasury bond yields. Semiconductor stocks also saw a rebound, with Intel and AMD shares rising by more than 9% and 6%, respectively. Meanwhile, rising energy prices pushed bond yields higher. The market is also facing trade tensions between the U.S. and Canada, following Canada’s imposition of new tariffs.
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