Nasdaq Falls as Oil Surges and Earnings Loom
The Nasdaq closed lower on Monday as rising oil prices and caution ahead of upcoming corporate earnings and inflation data weighed on markets. Major banks are set to report third-quarter results.
Xurve View
Insights:
Xurve View
The Nasdaq Composite fell 120.17 points, or 0.44%, to 27,246.00 on Monday evening as crude futures jumped nearly $2 a barrel following attacks in Saudi Arabia. The S&P 500 closed down 3.75 points, or 0.05%, at 7,807.79, while the Dow Jones Industrial Average rose 198.22 points, or 0.38%, to 51,853.17. Markets shifted lower as investors braced for third-quarter corporate earnings and upcoming inflation readings amid escalating energy costs.
