US stocks hang around their record highs as oil prices swing
AP News • • business
Key Points:
- The U.S. stock market remained near its all-time high with the S&P 500 rising 0.1%, the Dow Jones up slightly, and the Nasdaq down 0.1% after mixed earnings reports from major companies.
- Tesla shares fell 2.8% despite beating quarterly expectations, as investors reacted to the company's increased capital expenditure forecast for new factories and products.
- Texas Instruments surged 16.9% after exceeding profit expectations and providing strong guidance, offsetting losses from ServiceNow, which dropped 16.4% amid AI-related competitive concerns.
- Oil prices fluctuated amid ongoing tensions in the Strait of Hormuz, with the U.S. military seizing an Iranian tanker and President Trump ordering a shoot-to-kill stance against Iranian boats deploying mines.
- In the airline sector, American Airlines rose 4.7% on strong demand despite winter weather impacts, while Southwest Airlines fell 2.8% after missing earnings estimates and withholding updated profit guidance due to economic uncertainty.
