US stocks hang around their record highs as oil prices swing - AP News
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- U.S. stock indices remain near record highs despite volatile oil prices.
- Brent crude surged past $100 per barrel as the Iran‑Ukraine conflict raised supply concerns.
- Iran closed the Hormuz Strait, delaying Indian oil shipments and tightening global supply.
- WSJ reports that markets keep rising in wartime even without a peace plan, driven by AI and earnings growth.
- AI earnings growth is boosting investor confidence, pulling money back into US tech stocks.
Why it matters: Energy traders gain as Brent climbs above $100 per barrel, boosting oil‑related revenues; Indian importers lose as delayed shipments raise costs, tightening supply and pushing global inflation higher.
