Oil rises while Nasdaq slips after fresh tanker attack
Oil prices remained higher while the Nasdaq composite slid 1.5% for a second day after a fresh tanker attack in the Persian Gulf. Brent was up around 4% on the day, edging toward its highest close since mid-September.
S. is having "productive discussions" with Iran and won't attack the country prior to the midterm elections. Benchmark Brent crude prices are still up around 4% on the day however and are heading for their highest close since mid-September. The price had been up more than 5% earlier, pushed up by a fresh tanker attack in the Persian Gulf.
Production cuts in the Gulf of Mexico, prompted by a hurricane, aren't helping either. S. stocks, which are slipping for a second day. 5%.
Chip stocks like Nvidia and Intel were down after a Financial Times report raised questions about OpenAI's revenue outlook. Benchmark Treasury yields were lower, ticking down after the Trump post on Truth Social. Some investors also saw opportunity in buying at higher yields yesterday, when a strong 10-year Treasury auction soothed some market fears. This item is part of a Wall Street Journal live coverage event.
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