U.S. stocks edged lower as investors navigated a mix of rising oil prices, corporate earnings signals, and shifting expectations around Federal Reserve policy. The Dow, S&P 500, and Nasdaq all turned down after early gains, reflecting a market grappling with geopolitical tensions and inflation concerns. Indexes Pull Back All three major indexes slipped roughly between 0.3% and 0.6%, giving back some of the previous session’s momentum. The downturn followed renewed volatility in energy markets and cautious sentiment around consumer spending. Oil Prices Add Fresh Pressure Crude prices extended their sharp rally, driven by heightened worries over a potential U.S.–Iran conflict. Brent crude climbed above $71 per barrel, while West Texas Intermediate hovered near $66 — its biggest daily jump since October. Rising energy costs revived inflation concerns and weighed on equities. Walmart Earnings in Focus Walmart posted stronger‑than‑expected results, but its cautious pro...
Gas prices could continue falling for at least a month, according to one U.S. analyst. Tom Kloza, global head of energy analysis at OPIS, is calling for average prices south of the border to dip below US$3 per gallon.
Canadian gas prices fell by 3.3 cents per litre to $1.429 for the seven days ended Dec. 7. The falling price of oil continues to weigh on fuel for consumers, according to Andy Lipow, president of Lipow Oil Associates. At the same time, this week’s U.S. gasoline inventory data showed stockpiles swelled by five million barrels last week.
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