Wall Street Pauses as Oil Surges and Tesla Stumbles
U.S. stocks stalled on Thursday as investors weighed a sharp rise in oil prices against a wave of fresh corporate earnings. Futures tied to the Dow Jones Industrial Average and the S&P 500 hovered near the flat line, while the Nasdaq 100 also showed little movement. Energy markets took center stage after oil futures jumped more than 5% following new U.S. sanctions on Russian producers, pushing Brent crude toward $66 a barrel and West Texas Intermediate closer to $62. The surge added pressure to inflation concerns already weighing on Wall Street. On the corporate front, Tesla shares slipped over 3% in premarket trading after the electric vehicle maker posted mixed third-quarter results, disappointing investors and kicking off the “Magnificent Seven” earnings cycle. IBM stock also dropped about 7% , as stronger-than-expected profits were overshadowed by weaker software revenue. Traders are now awaiting results from American Airlines and T-Mobile , with Intel set to ...
