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Crude Oil Eyes Highest Close In 7 Weeks As Inventories Drop More Than Expected: Energy ETF, Stocks On The Move

WTI light crude oil up 0.3% past $81/bbl, highest close since April. US crude, gasoline, distillate inventories decline, raising concerns of insufficient supply. Rising oil prices may impact inflation and US election. Biden admin may release more oil from strategic stockpile. Energy stocks rise 1.5% on Thursday.


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S&P 500, Nasdaq 100 Dip From Record Highs As Investors Take Chipmaker Profits; Energy Sector Rebounds, Yields Rise: What’s Driving Markets Thursday?

After the Juneteenth holiday break, Wall Street reopened with a cautious tone, as the S&P 500 and Nasdaq 100 indices declined after hitting all-time highs around midday trading in New York. This decline was driven by profit-taking in chipmaker stocks and rising Treasury yields, which dampened risk sentiment.


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Inflation Cools In May, Fed Hints At Slower Pace Of Rate Cuts, Stocks Hit New Record Highs: This Week In The Market

Wall Street resilient as tech stocks reclaim dominance with record highs for S&P 500 and Nasdaq 100, driven by tech giants like Apple, Nvidia, and Microsoft. Fed's updated projections and cooler inflation reports contribute to hopes for rate cuts. Broadcom's AI chip demand boosts stock, while Apple's WWDC 2024 innovations lead to higher iPhone sales projections. Economist declares victory over inflation, while GameStop stock surges.