BREAKING. The Dow just dropped 653 points as Brent crude settled at its highest level since April 29Dow -1.23% to 52,215…

BREAKING. The Dow just dropped 653 points as Brent crude settled at its highest level since April 29

Dow -1.23% to 52,215

S&P 500 -0.52% to 7,624

Nasdaq -0.21% to 25,955

Brent +3.1% to $116.72 and WTI +3.8% to $103.27 after Houthi attacks in Saudi Arabia

Gold -1.3% after breaking below $4,000 intraday, down about 3.6% on the week

Nearly 3 of every 4 S&P 500 stocks fell, and the 10 year yield sits just under 5% at 4.99%

For the week, the S&P 500 and Nasdaq posted a 2nd straight weekly loss while the Dow notched its 3rd straight weekly gain

Brent is up 6.2% this week alone

Next week is the real test with $Alphabet(GOOGL.US), $Microsoft(MSFT.US) and $Amazon(AMZN.US) earnings plus a Fed decision

Oil at a 6 month high, yields knocking on 5% and doubts about AI spend is a tough mix for the Fed, and hyperscaler capex guidance next week will decide whether this week's AI wobble was a pause or the start of something bigger

Source: StockMarket.News