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US stocks fall amid rising oil and earnings reports
Overall, U.S. stocks declined amid rising oil prices and anticipation of corporate earnings reports, with the Standard & Poor's 500 down by 0.3%, the Nasdaq dropping by 0.6%, and the Dow Jones falling approximately 73 points. Oil prices saw a notable increase following heightened tensions in the region, with Brent crude futures rising above $94 per barrel—its highest level in over a month—due to the eleventh round of U.S. strikes on Iran and remarks by Secretary of State Marco Rubio reaffirming continued protection of navigation in the Strait of Hormuz. The U.S. market expects that rising oil prices could lead to increases in consumer goods prices, potentially prompting the Federal Reserve to raise interest rates, with September increasingly likely. Investors are focusing on corporate earnings, especially in the technology sector, and on demand for artificial intelligence and cloud computing, to gauge the sustainability of the high valuations in the market.
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