US Stocks Trade Mixed as Brent Falls 2.8% on US-Iran War Talks
Updated
Updated · The Associated Press · Jun 22
US Stocks Trade Mixed as Brent Falls 2.8% on US-Iran War Talks
3 articles · Updated · The Associated Press · Jun 22
Summary
The S&P 500 slipped 0.3% Monday, the Dow rose 131 points and the Nasdaq fell 1% as Wall Street resumed trading after a three-day weekend.
Brent crude dropped 2.8% to $78.29 and U.S. crude fell 2.3% after weekend US-Iran talks, which Vice President JD Vance said laid a “good foundation” for a final deal.
Treasury yields still climbed, with the 10-year at 4.49% from 4.46% late Thursday, as traders raised bets on at least one Fed rate hike this year to nearly 90% from 57% a week ago.
That pressure hit expensive growth stocks, with SpaceX down 10.4%, while AbbVie rose 5.4% after agreeing to buy Apogee Therapeutics in a roughly $10.9 billion deal.
Investors now face a Thursday inflation report expected to show consumer inflation accelerated to 4.1% in May from 3.8% in April, testing whether easing oil can offset war-driven price pressure.