BUSINESSWPLG LOCAL 10 MIAMI
Most of Wall Street rises as oil prices continue to ease, even as chip stocks keep dropping
Most of Wall Street rose as corporate profits exceeded expectations, but global chip stocks fell sharply due to concerns over AI growth sustainability and competition from China. Oil prices declined further from a two-month high, while companies like Coca-Cola, Sherwin-Williams, and Illinois Tool Works gained after reporting stronger-than-expected quarterly profits.
Mentioned
Coca-ColaorganizationSherwin-WilliamsorganizationIllinois Tool WorksorganizationMicron TechnologyorganizationAdvanced Micro DevicesorganizationNvidiaorganizationSK HynixorganizationSamsung ElectronicsorganizationKospi indextopicAI technologytopicoil pricestopicJing Jie YupersonMorningstarorganization
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Adjacent reporting
- Oil prices rise, but not by enough to drag Wall Street far off its records
- The Dow jumps 800 points as oil prices ease, but slumping AI stocks keep Wall Street in check
- Wall Street rises as AI stocks swing back upward and oil prices ease
- Chip companies and other AI winners drag Wall Street lower again, while crude oil prices rise
- Oil prices rise, but not by enough to keep Wall Street from more records