Wall St Ticks Lower on Hormuz Uncertainty
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- Wall Street ticked lower as markets monitored the Hormuz situation and awaited upcoming economic data
- The S&P 500 was little changed as traders awaited a possible Hormuz deal, while Intel shares fell and oil prices rose with stocks drifting near records
Why it matters: Oil's rise on Hormuz deal uncertainty injects a fresh energy-cost variable into the inflation picture traders are pricing ahead of the data prints they're waiting on. With the S&P 500 drifting near records, any Hormuz-driven oil move could test the market's recent calm, and Intel's decline adds a single-stock drag on the broader tape.
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