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Dow stays near 52,400 as Middle East escalation supports energy stocks
Oil prices rose after renewed strikes and promises of continued protection for shipping, lifting the Dow while the Nasdaq fell.
The Dow Jones Industrial Average traded near 52,400 on Wednesday, up about 200 points and on track for a second straight daily gain, while the S&P 500 stayed near flat and the Nasdaq slipped into the red, according to FXStreet.
The session was driven largely by macro headlines with limited US data until Thursday, as war-related developments tied to shipping and Iran raised concerns about higher input costs and kept rates in focus.
FXStreet said US forces carried out an 11th consecutive round of strikes on Iran, with Secretary of State Marco Rubio saying Tehran is not serious about negotiations, while Trump pledged continued US protection for shipping through the Strait of Hormuz.
The outlet reported West Texas Intermediate held above $86.00 and Brent above $93.00, both up around 2% after briefly clearing $95.00, and noted this shift in sector exposure helped the Dow, while higher energy costs and the rates conversation weighed more on Nasdaq-style growth multiples.
FXStreet added that about 88% of early S&P 500 reporters have beaten profit estimates and pointed to upcoming after-bell earnings from Alphabet, Tesla, ServiceNow, Texas Instruments, and IBM as a key event risk.
Latest closeBrent $94.43 ▲3.8%|S&P 500 7,509.20 ▲0.9%|Nasdaq Comp. 25,837.21 ▲1.3%