Stocks
US Stocks End Week Lower Amid Oil Price Surge
The US stock market ended the week lower despite a Friday rebound, as surging oil prices and rising Treasury yields pressured equities.
Brent crude climbed above $100 per barrel amid tensions involving Iran and disruptions around the Strait of Hormuz, while the 10-year Treasury yield approached 5%.
Earnings season provided some support with Oracle's strong cloud growth and Apple's new iPhone lineup, but technology stocks remained relatively resilient as investors shifted focus from earnings to inflation, interest rates, and energy prices.
Bulls took note of GameStop's top-line beat on collectibles growth, which generated $356.3 million in sales, up 57% year-over-year.