Commodities
Stocks Slip from Record High as Oil Prices Surge
The US stock market declined slightly from its record high on Monday, while oil prices surged due to uncertainty over the Strait of Hormuz's reopening.
The S&P 500 slipped 0.1% from its all-time high set on Friday, with the Dow Jones Industrial Average dipping 60 points and the Nasdaq composite falling 0.3%.
Berkshire Hathaway contributed to the market's momentum slowdown after delivering stronger-than-expected profits for the last quarter under new CEO Greg Abel. Despite criticism that US stocks are overpriced, Berkshire Hathaway's strong earnings helped its stock rise 1.5%.