Wall Street closed mixed on Wednesday, with the Dow rising 0.4% while the Nasdaq and S&P 500 fell 0.4% and 0.1%, respectively. Energy stocks led declines as oil prices dropped to their lowest since the start of the Iran conflict, with Brent crude settling at $73.74 a barrel and WTI at $70.34. Technology shares remained under pressure from ongoing concerns over high valuations and heavy AI infrastructure spending. Travel-related stocks gained on lower fuel costs, and new home sales for May came in at 580,000, down from a revised April figure of 626,000.
Chevron CorpOil price drop to lowest since Iran conflict start reduces Chevron's revenue outlook.
Exxon Mobil CorpOil price drop to lowest since Iran conflict start reduces Exxon's revenue outlook.