US stocks today: Markets open in green despite Iran war tensions, oil price swings
U.S. stock markets rose despite ongoing tensions between the U.S. and Iran, bolstered by positive quarterly earnings and cooling inflation data. Investors remain cautious as the threat of energy supply disruptions in the Middle East continues to influence oil prices.
Why it matters
Market performance is currently balancing optimistic domestic economic indicators against the risk of global energy supply shocks.
US stock markets edged higher on Wednesday after strong quarterly earnings from major companies, while investors also reacted to fresh inflation data and rising tensions in the Middle East.The S&P 500 rose 0.2 per cent, putting it on track for its fourth gain in five sessions. The Dow Jones Industrial Average gained 173 points, or 0.3 per cent, while the Nasdaq Composite was up 0.3 per cent.Markets were also supported by fresh data showing US inflation eased further last month. Wholesale inflation slowed to 5.5 per cent in June from 6 per cent in May, against expectations of a rise. A separate report released a day earlier also showed consumer inflation was lower than economists had forecast.The softer inflation data reduced expectations that the US Federal Reserve will raise interest rates at its next policy meeting.
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