Commodities
US Stocks Rebound from Records Amid Mixed Earnings and Rising Oil Prices
US stocks retreated from recent records on Thursday as the market absorbed mixed earnings reports and concerns over inflation, fueled in part by rising oil prices.
The S&P 500 fell 13.59 points to 7,709.96, while the Dow Jones Industrial Average dropped 464.02 points to 53,885.10.
Oil prices rose 3.8% to $82.49 as uncertainty remains over the US war with Iran and its impact on global oil flows.
Clark Bellin, president and chief investment officer at Bellwether Wealth, noted that August is typically a volatile month for stocks, although the market is still poised for solid weekly gains.