Brent Oil Falls Below $100 as Wall Street Holds Near Record

Wall Street held near its record high on Tuesday as Brent oil prices fell below $100 per barrel. The S&P 500 rose 0.1%, still 0.4% below its all-time high set last month, while the Dow Jones Industrial Average was down 168 points, or 0.3%. The Nasdaq composite added 0.4% to its own record.

The drop in oil prices had a mixed impact on stocks, with some companies benefiting and others being hurt. AutoZone rose 6.1% after reporting stronger profit than expected, while Thor Industries' stock gained 5.1%, despite the company facing challenges due to high fuel costs and inflation. However, ConocoPhillips fell 1.7% as oil prices declined.

The Federal Reserve's interest rate hike last week continued to weigh on banks, with JPMorgan Chase down 3.1%. The spread between short-term and long-term yields in the bond market remained narrow, with the 10-year Treasury yield holding steady at 4.96%.