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Updated · The Associated Press · May 7Brent crude falls as US stock market nears record highs
14 articles · Updated · The Associated Press · May 7
- Brent dropped 4.5% to $96.70, from above $115 earlier this week, after Pakistan's foreign ministry said a US-Iran agreement could come soon.
- The S&P 500 hovered around Wednesday's record, the Nasdaq rose 0.5% toward its own high and the 10-year Treasury yield eased to 4.34%.
- Markets are betting a deal could reopen the Strait of Hormuz, though tensions remain after a US jet disabled an Iranian tanker in the Gulf of Oman.
With ADP and official payroll reports diverging, how can investors gauge the labor market's true strength and its impact on Treasury yields? Will a potential U.S.-Iran deal cool inflation, or will a resilient labor market force the Fed to keep interest rates high? As President Trump's new 'global tariff' looms, could it erase any inflation relief gained from a potential Middle East peace deal?