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US stocks drift near their records as oil prices sink
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....S stocks drift near their records as oil prices sink<BR>PTI News<BR>Dated:- 10-10-2025<BR>PTI<BR>New York, Oct 10 (AP) US stocks are drifting near their record heights on Friday, while oil prices sink. The S&P 500 rose 0.2%, coming off just its second loss in the prior 10 days. The Dow Jones Industrial Average was up 138 points, or 0.3%, as of 10:15 am Eastern time, and the Nasdaq composite was ....
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....0.2% higher. PepsiCo climbed 3.3% to extend its gain from Thursday after the snack and drinks giant reported a better profit for the latest quarter than analysts expected. That helped to offset a sharp loss for Levi Strauss, which dropped 10.1% even though it reported a stronger profit for the latest quarter than analysts expected. Its forecast for profit over the full year was also within r....
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....ange of Wall Street's estimates, but the jeans and clothing company could be facing the challenge of high expectations. Its stock price came into the day with a stellar surge of nearly 42% for the year so far. The rest of the market is facing similar pressures. Critics are calling the market too expensive after prices rose much faster than corporate profits, particularly for companies in the a....
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....rtificial-intelligence industry. For stocks to look less expensive, either their prices need to fall, or profits need to rise. The US stock market has been on a nearly relentless run and soared roughly 35% since a low in April, though momentum has slowed recently. With the US government shut down again, several important economic reports that normally move the market have been delayed. Some of....
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.... Friday's strongest action was in the oil market, where the price of a barrel of benchmark US crude sank 2.7% to $59.84. It fell as a ceasefire between Israel and Hamas came into effect in Gaza, raising hopes for less violence in the Middle East. An end to the war could remove worries about disruptions to oil supplies, which had kept crude's price higher than it otherwise would have been. Bren....
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....t crude, the international standard, dropped 2.1% to $63.87 per barrel. In the bond market, the yield on the 10-year Treasury sank to 4.09% from 4.14% late Thursday. A report from the University of Michigan on Friday morning suggesting sentiment among U.S. consumers is going sideways had limited impact on the market. “Pocketbook issues like high prices and weakening job prospects remain at....
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.... the forefront of consumers' minds,” according to Joanne Hsu, director of the Surveys of Consumers. “At this time, consumers do not expect meaningful improvement in these factors.” The job market has slowed so much that the Federal Reserve cut its main interest rate last month for the first time this year. Fed officials have also pencilled in several more cuts to rates through the end of n....
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....ext year to give the economy more breathing room. But Chair Jerome Powell has also said they may have to shift course if inflation stays high. That's because lower interest rates can push inflation even higher. One encouraging signal from the University of Michigan's preliminary survey said consumers' expectations for inflation in the coming year edged down to 4.6% from 4.7% the month before. ....
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....While that's still high, the direction of change could still help the Fed by limiting upward pressure on inflation. The price of gold ticked higher following its sharp slide on Thursday but still remains below $4,000 per ounce. In stock markets abroad, indexes edged lower in Europe following a mixed finish in Asia. Hong Kong's Hang Seng fell 1.7%, and Japan's Nikkei 225 dropped 1% for two of....
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.... the bigger moves. But South Korea's Kospi leaped 1.7% after trading reopened following a holiday. (AP) SCY SCY<BR> News - Press release - PIB....