Commodities
Rising Oil Prices and Earnings Pressure US Stocks
US stocks are edging lower on Thursday as Wall Street faces pressure from rising oil prices and mixed company earnings.
The Dow Jones Industrial Average fell 464.02 points, or 0.9%, to 53,885.10, while the S&P 500 dropped 13.59 points, or 0.2%, to 7,709.96.
Clark Bellin, president and chief investment officer at Bellwether Wealth, notes that August is typically a volatile month for stocks, which may explain the recent decline in US stocks.
Some companies like Warner Bros. Discovery rose 1.7% after reporting earnings ahead of expectations, while others such as Honeywell Aerospace fell 23.2% due to disappointing results.