World are mixed and oil prices stay steady at $111 a barrel
AP News • • business
Key Points:
- Wall Street futures showed mixed early trading with the S&P 500 and Dow Jones futures slightly up, while Nasdaq futures dipped, following record highs driven by strong corporate profits.
- Oil prices remained steady amid no major developments in the Iran war, with Brent crude around $111 per barrel and U.S. crude near $104, after recent volatility linked to supply concerns.
- Iran’s supreme leader emphasized protecting nuclear and missile capabilities, complicating prospects for a ceasefire, while U.S. President Trump considered reopening the Strait of Hormuz to ease oil export disruptions.
- Chevron and Exxon Mobil reported first-quarter profit declines due to hedging losses from disrupted tanker traffic, though these are seen as temporary setbacks.
- Apple shares rose 3.8% after strong quarterly results driven by robust iPhone demand, amid market focus on its upcoming CEO transition and AI strategy; meanwhile, international markets showed mixed performance with some closures for May Day.
