Oil rises sharply as tech retreats weigh on stocks
S&P 500 (-0.2%), Nasdaq Composite (-0.5%), and DJIA (unch) trade mostly lower as crude oil rises $3.89 (+4.4%) to $92.18 per barrel; energy (+2.2%) outperforms while information technology (-0.8%) lags after a 2.1% decline in the PHLX Semiconductor Index.
5%), and DJIA (unch) are mostly lower this morning as higher oil prices and weakness in technology stocks weigh on the market. 18 per barrel amid increased attacks on tankers in the Strait of Hormuz and commentary from President Trump that suggests the potential for further conflict. 35%. That has allowed for some modest improvement through the broader market, which has the DJIA back on its flatline.
2%) sharply higher as oil prices surge. APA Corp. 83%) leads all Dow names. 3%) is another outperformer, trading broadly higher as high-beta and tech stocks retreat amid a more risk-off positioning this morning.
1% slide in the PHLX Semiconductor Index. 3%). com