US Stocks Steady Near All-Time High as Oil Prices Rise

The US stock market continued its steady pace on Monday, hovering near an all-time high. The S&P 500 remained virtually unchanged after fluctuating between small gains and losses, while the Dow Jones Industrial Average held steady as of 11:30 a.m. Eastern time.

Berkshire Hathaway was one of the key contributors to this stability, with its stock rising 2.2% due in part to the company's strong quarterly profits. Its massive size also made it a significant force lifting the S&P 500 index.

The oil market saw an increase in prices as uncertainty over the Strait of Hormuz's reopening persisted. Brent crude rose 3.2% to $86.24, returning to levels seen earlier this month and in mid-July.

Economists expect Wednesday's inflation report to show a slowdown in price growth, which could ease pressure on the Federal Reserve to raise interest rates. However, traders still anticipate a 48% chance of an upcoming rate hike in September.