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US stocks rally near a record as falling oil prices ease Wall Street’s worries about inflation
['Associated Press']
WXXV News 25WXXV News 25
NEW YORK (AP) — The U.S. stock market rallied to the edge of its all-time high on Monday after easing oil prices helped calm Wall Street’s worries that inflation could get even worse.
The latest acquiescence by Trump helped to ease worries about the global flow of crude, and Treasury yields correspondingly fell in the bond market.
Monday’s ease in oil prices helped airlines and other companies with big fuel bills lead the market.
That’s imperative for Wall Street because stock prices tend to follow the path of corporate earnings over the long term, and worries were rising that U.S. stock prices may have broadly already shot too high.
Keeping Wall Street unsettled, though, were swings for stocks of companies that make computer chips.