Commodities
US Stocks Drift Near Record High as Oil Prices Rebound
The US stock market hovered near its all-time high on Wednesday as crude oil prices rebounded after a weeklong decline.
The S&P 500 slipped 0.1% in early trading, while the Dow Jones Industrial Average fell 55 points and the Nasdaq composite dropped 0.3%.
The price of Brent oil rose 1.4%, pushing yields higher in the bond market, which could slow down the economy by making borrowing more expensive.
This comes after US futures were slightly higher earlier in the day, with the S&P 500 and Dow Jones Industrial Average futures both gaining 0.1%.