{"id":22654,"date":"2026-04-30T14:39:13","date_gmt":"2026-04-30T14:39:13","guid":{"rendered":"https:\/\/www.europesays.com\/news\/22654\/"},"modified":"2026-04-30T14:39:13","modified_gmt":"2026-04-30T14:39:13","slug":"oil-prices-whipsaw-while-us-stocks-glide-near-their-record-heights","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/news\/22654\/","title":{"rendered":"Oil prices whipsaw while US stocks glide near their record heights"},"content":{"rendered":"

NEW YORK (AP) \u2014 Oil prices whipsawed on Thursday and surged toward their highest levels since the war with Iran<\/a> began, only for the leaps to quickly vanish. The U.S. stock market, meanwhile, is gliding following more strong profit reports from big companies like Alphabet<\/a>.<\/p>\n

The S&P 500 rose 0.1% and is a bit below its all-time high<\/a> set earlier this week, as companies continue to deliver fatter profits<\/a> for the start of 2026 than analysts expected despite high oil prices and uncertainty about the economy. The Dow Jones Industrial Average was up 413 points, or 0.8%, as of 10 a.m. Eastern time, and the Nasdaq composite was 0.3% lower.<\/p>\n

Alphabet led the way and rose 5.8% after the owner of Google and YouTube reported profit for the latest quarter that almost doubled analysts\u2019 expectations. Investments in artificial intelligence \u201care lighting up every part of the business,\u201d CEO Sundar Pichai<\/a> said.<\/p>\n

The steadiness on Wall Street followed manic swings in the oil market, where prices surged overnight on worries that the Iran war will affect the flow of crude<\/a> for a long time. Iran has closed the Strait of Hormuz to oil tankers, keeping them pent up in the Persian Gulf and away from customers worldwide, while a U.S. Navy blockade is preventing Iran from selling its own oil. <\/p>\n

Traders are always buying and selling contracts for different kinds of oil, going out for many months. In the most actively traded part of the market for Brent crude, the international standard, the price got as high as $114.70 overnight for a barrel of Brent to be delivered in July. It then regressed to $109.80, down 0.6%, which is still well above the roughly $70 per barrel that Brent was selling for before the war.<\/p>\n

So far during the war, the peak price for the most actively traded Brent contract is $119.50, which was set last month. <\/p>\n

In a less actively traded corner of the Brent market, the price for a barrel to be delivered in June briefly went above $126 overnight before pulling back toward $114. <\/p>\n

That easing, along with the continuing flood of better-than-expected profit reports from U.S. companies, helped to keep Wall Street stable near its records. <\/p>\n

Caterpillar, Eli Lilly, O\u2019Reilly Automotive and Royal Caribbean all rallied more than 6% after delivering profits for the latest quarter that topped analysts\u2019 expectations. That\u2019s crucial for investors because stock prices tend to follow the track of corporate profits over the long term. <\/p>\n

Still, a better-than-expected result isn\u2019t always enough to boost a stock\u2019s price if it\u2019s already shot much higher.<\/p>\n

Meta Platforms<\/a> tumbled 9.9% even though the company behind Facebook and Instagram made more profit last quarter than expected. Investors focused more on Meta\u2019s increased forecast for how much it will spend on data centers and other investments this year as it builds out its AI capabilities, up to a range of $125 billion to $145 billion. <\/p>\n

Doubts are still high among some investors about whether all the AI spending by Meta and other companies will produce enough profit and productivity to make it worth it.<\/p>\n

Microsoft fell 4.5% after it likewise raised its forecast for investments and other capital spending. But analysts also said accelerating trends at its Azure business were encouraging.<\/p>\n

Amazon<\/a> slid 0.8% after blowing past analysts\u2019 expectations for earnings in the latest quarter.<\/p>\n

In the bond market, Treasury yields eased after oil prices gave up their big overnight gains. Reports also suggested that U.S. economic growth accelerated<\/a> by less in the first three months of the year than economists expected, while a measure of inflation worsened<\/a> in March by about as much as expected.<\/p>\n

A separate report said that fewer U.S. workers applied for unemployment<\/a> benefits last week in an indication of fewer layoffs even though companies<\/a> are announcing<\/a> large cuts to workforces<\/a>. <\/p>\n

The yield on the 10-year Treasury eased to 4.38% from 4.42% late Wednesday.<\/p>\n

In stock markets abroad, indexes were mixed.<\/p>\n

London\u2019s FTSE 100 jumped 1.3% after the Bank of England kept its main interest rate on hold.<\/a><\/p>\n

Germany\u2019s DAX returned 0.7%, and France\u2019s CAC 40 slipped 0.2% after the European Central Bank<\/a> also held its own interest rates steady. That followed similar decisions by the U.S. Federal Reserve<\/a> on Wednesday and the Bank of Japan<\/a> on Tuesday to keep their rates unchanged.<\/p>\n

Hong Kong\u2019s Hang Seng lost 1.3%, while stocks added 0.1% in Shanghai after a report said China\u2019s factory activity<\/a> slowed slightly in April but remained in expansion territory for the second month.<\/p>\n

__<\/p>\n

AP Business Writers Chan Ho-him and Matt Ott contributed to this report.<\/p>\n","protected":false},"excerpt":{"rendered":"NEW YORK (AP) \u2014 Oil prices whipsawed on Thursday and surged toward their highest levels since the war…\n","protected":false},"author":2,"featured_media":22655,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[2023,276,112,3294,2258,1038,8293,274,2485,2240,2236,50,8,277,19,103,96,5164,569,9,2896,13783,6440,13735,7,106],"class_list":{"0":"post-22654","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-top-stories","8":"tag-alphabet","9":"tag-amazon-com","10":"tag-business","11":"tag-climate","12":"tag-climate-and-environment","13":"tag-economic-indicators","14":"tag-eli-lilly","15":"tag-energy-industry","16":"tag-energy-markets","17":"tag-federal-reserve-system","18":"tag-financial-markets","19":"tag-general-news","20":"tag-headlines","21":"tag-inc","22":"tag-iran","23":"tag-iran-government","24":"tag-iran-war","25":"tag-meta-platforms","26":"tag-microsoft-corp","27":"tag-news","28":"tag-oil-and-gas-industry","29":"tag-oreilly-automotive","30":"tag-stocks-and-bonds","31":"tag-sundar-pichai","32":"tag-top-stories","33":"tag-world-news"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@news\/116494176174027916","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/news\/wp-json\/wp\/v2\/posts\/22654","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/news\/wp-json\/wp\/v2\/comments?post=22654"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/news\/wp-json\/wp\/v2\/posts\/22654\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/news\/wp-json\/wp\/v2\/media\/22655"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/news\/wp-json\/wp\/v2\/media?parent=22654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/news\/wp-json\/wp\/v2\/categories?post=22654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/news\/wp-json\/wp\/v2\/tags?post=22654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}