Wall Street Holds Near Record High Amid Ongoing Oil Price Volatility

Wall Street hovered near its record high on Tuesday in a relatively quiet day for markets globally. The S&P 500 dipped 0.1% and is now just 0.5% below its all-time high set last month. In contrast, the Nasdaq composite added 0.3% to its own record.

The Dow Jones Industrial Average had been down 295 points, or 0.5%, at 11:45 a.m. Eastern time, but this loss was later trimmed. The brief drop in Brent oil prices below $98 per barrel in the morning also spurred some losses for stocks, though it later recovered to around $100.23.

A few companies stood out on Wall Street. AutoZone rose 6% after reporting a stronger profit than expected for its latest quarter, despite lower revenue. CEO Phil Daniele attributed this to a 'difficult selling environment' in the first two months of the quarter, but stated that things improved afterward and it is now well-positioned for sales growth.

Thor Industries, which sells recreational vehicles, saw a 3.7% increase after its stronger-than-expected profit report. However, CEO Bob Martin noted that high fuel prices, interest rates, and inflation are making its customers' budgets tighter than expected.