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US stocks slip higher as US-Iran standoff clouds Strait of Hormuz talks
The Dow rose 0.2% and the S&P 500 added 0.1%, as investors weighed CPI risk after a softer jobs report and growing expectations for additional Fed tightening.
US equities moved modestly higher as the US-Iran standoff deepened, dimming confidence in progress toward reopening the Strait of Hormuz, according to Yahoo Finance. The Dow Jones Industrial Average edged up 0.2%, the S&P 500 gained 0.1%, and the Nasdaq Composite rose 0.2% after declining on Monday.
The report said geopolitical tensions and harder demands around war compensation weighed on sentiment. President Trump rejected Iran's reparations demand, while Iranian foreign minister Abbas Araghchi said there was no possibility of restarting negotiations under current conditions.
Oil prices helped limit some downside, with Brent crude futures hovering around $87 per barrel after gains were pared overnight. Investors also looked ahead to Wednesday's Consumer Price Index report, especially after Friday's jobs data shifted expectations toward a Federal Reserve rate hike in September, with Cleveland Fed president Beth Hammack suggesting it may take more than one hike to rein in inflation.
Attention also turned to the AI build-out and upcoming company updates, with new fundraising efforts by Intel and Nvidia renewing scrutiny of the capital-intensive push. Yahoo Finance added that cloud computing company CoreWeave and AI server maker Super Micro Computer were both expected to report after the bell.
Latest closeWTI crude $82.30 ▲5.3%|Brent $87.85 ▲5.2%|S&P 500 7,753.11 ▼0.1%