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Wall Street shows mixed results amid oil rise and bank earnings looms
The Wall Street markets experienced mixed performances at the start of the week, with the Dow Jones Industrial Average rising by 0.3% and the S&P 500 up by 0.1%, while the Nasdaq declined by 0.1%. This comes amid anticipation of earnings reports from major banks such as JPMorgan, Goldman Sachs, and Citigroup, along with ongoing concerns about the artificial intelligence bubble and rising bond yields. On the energy front, Brent crude surpassed $106 per barrel, and West Texas Intermediate reached $93, driven by geopolitical tensions in the Middle East, including Russian strikes on Ukraine and American hints of targeting the Houthis, raising fears of an expanding conflict. Markets are awaiting inflation data and retail sales figures to determine the trajectory of interest rate hikes moving forward.
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