{"id":1557,"date":"2026-05-07T13:31:43","date_gmt":"2026-05-07T13:31:43","guid":{"rendered":"https:\/\/siliconvalleymovingpost.com\/?p=1557"},"modified":"2026-05-07T13:31:43","modified_gmt":"2026-05-07T13:31:43","slug":"wall-street-inches-higher-oil-prices-fall-amid-tenuous-peace-between-iran-and-us","status":"publish","type":"post","link":"https:\/\/siliconvalleymovingpost.com\/?p=1557","title":{"rendered":"Wall Street inches higher, oil prices fall amid tenuous peace between Iran and US"},"content":{"rendered":"
\n

By ELAINE KURTENBACH and MATT OTT, AP Business Writers<\/strong><\/p>\n

Wall Street rose modestly and oil prices fell another 3% early Thursday while markets waited to see if the U.S. and Iran would strike a deal allowing tankers to deliver crude from the Persian Gulf again.<\/p>\n

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Futures for the S&P 500 ticked up 0.1% while futures for the Dow Jones Industrial Average rose 0.2% before the opening bell. Nasdaq futures were essentially unchanged.<\/p>\n

Iran said it was reviewing the latest American proposals on ending the war after U.S. President Donald Trump threatened the country with a new wave of bombing unless a deal is reached that includes reopening the crucial Strait of Hormuz to international shipping.<\/p>\n

Hope that the two-month conflict could soon end buoyed international markets on Thursday, even as the U.S. military fired on an Iranian oil tanker attempting to breach the American blockade of Iran\u2019s ports.<\/p>\n

The effective closure of the strait due to the war threatens the global economy but a reopening could allow oil to flow freely again and remove pressure on inflation that\u2019s driving prices up for all kinds of products worldwide.<\/p>\n

Oil prices retreated again Thursday morning, with a barrel of U.S. crude sliding $3.23 to $91.85. Brent crude, the international standard lost $3.30 to $97.97 per barrel.<\/p>\n

U.S. stocks have remained resilient despite the war thanks partly to strong profit reports by big U.S. companies for the start of 2026.<\/p>\n

\n<\/div>\n

McDonald\u2019s rose 4.5% after it posted better-than-expected sales in the first quarter. The fast food chain said a new burger and a continuing emphasis on value helped to lure more customers to its restaurants.<\/p>\n

DoorDash soared more than 10% after the food delivery company reported stronger profit than expected, lifted by a 33% jump in revenue from the same quarter a year ago.<\/p>\n

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On the losing side was Whirlpool, which saw its shares crater 18% after it posted a surprise loss in its most recent quarter. The appliance maker said it would implement price increases to restore margins during what it called a \u201crapid deterioration in macroeconomic conditions\u201d in recent months due to the war in Iran.<\/p>\n

In Asian trading, Tokyo\u2019s Nikkei 225 gained almost 6%, hitting a new record.<\/p>\n

\n<\/div>\n

Japan\u2019s benchmark Nikkei 225 index jumped more than 3,300 points to 63,086.00 as markets in Tokyo reopened following \u201cGolden Week\u201d holidays.<\/p>\n

At midday in Europe, Germany\u2019s DAX edged 0.2% higher and the CAC 40 in Paris was up 0.3%. Britain\u2019s FTSE 100 slipped 0.3%.<\/p>\n

Japan\u2019s Nikkei 225 has gained nearly 20% in the past three months and more than 70% in the past year, pushed higher by strong buying of tech shares that have benefited from the boom in artificial intelligence.<\/p>\n

Computer chip equipment maker Tokyo Electron gained 9% and testing equipment maker Advantest Corp. added 6.8%. Shin-Etsu Chemican gained 8.5%.<\/p>\n

\u201cI think it\u2019s a kind of bubble because buying activity concentrated on leading AI, artificial intelligence stock and semiconductor-related stocks. It\u2019s a situation where only semiconductor stocks are being bought,\u201d said Takashi Hiroki, chief strategist at MONEX.<\/p>\n

Elsewhere in Asia, the Hang Seng in Hong Kong gained 1.7% to 26,668.37.<\/p>\n

The S&P\/ASX 200 in Australia was up 0.8% at 8,862.40.<\/p>\n

In South Korea, the Kospi reversed early losses, gaining 1.4% to 7,490.05, the second straight day it has closed at a record high. The benchmark jumped nearly 7% on Wednesday to barrel past 7,000 for the first time.<\/p>\n

Taiwan\u2019s Taiex surged 1.9%, lifted by a 3.1% gain for big computer chipmaker TSMC.<\/p>\n

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Wall Street rose modestly and oil prices fell while markets waited to see if the U.S. and Iran would strike a deal to end the war.<\/p>\n","protected":false},"author":1,"featured_media":1556,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,3],"tags":[],"class_list":["post-1557","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-verified-news"],"yoast_head":"\nWall Street inches higher, oil prices fall amid tenuous peace between Iran and US - Silicon Valley Moving Post<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/siliconvalleymovingpost.com\/?p=1557\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wall Street inches higher, oil prices fall amid tenuous peace between Iran and US - 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