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Barchart
Barchart
Rich Asplund

Stocks Pressured by Higher Oil Prices, But Positive Oracle AI News Helps Tech Stocks

Oracle Oil Nasdaq SP Dow Jones Industrial Average IBM IEA United States

The S&P 500 Index ($SPX) (SPY) is down -0.30%, the Dow Jones Industrial Average ($DOWI) (DIA) is down -0.88%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.11%.  March E-mini S&P futures (ESH26) are down -0.42%, and March E-mini Nasdaq futures (NQH26) are down -0.26%.

Stocks are being undercut by today’s +6 bp rise in the 10-year T-note yield and the +4% rally in WTI crude oil prices.  Crude oil prices are trading higher despite the IEA’s decision to release oil stockpiles.

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