US stocks close slightly lower, oil surges on Middle East tensions

MacroCommodity
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Summary · why it matters

The Dow Jones Industrial Average edged down slightly on Wednesday, while the Nasdaq fell more than 100 points amid volatile trading in technology stocks and as investors awaited Alphabet's earnings. European stocks closed higher at a two-week high, supported by energy and defense shares. West Texas Intermediate crude futures surged 2.49 dollars, or 2.95 percent, to settle at 86.83 dollars a barrel, and Brent crude rose 3.06 dollars, or 3.36 percent, to close at 94.07 dollars a barrel, the highest settlement in six months, as tensions in the Middle East intensified. COMEX gold futures settled up 75.50 dollars, or 1.85 percent, at 4,151.90 dollars an ounce, supported by a weaker dollar and technical buying.

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