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US stocks edge down from their record after oil prices climb 5%
['Associated Press']
WXXV News 25WXXV News 25
NEW YORK (AP) — The U.S. stock market edged down from its all-time high on Monday, while oil prices rose on uncertainty about when the Strait of Hormuz could reopen and get the global flow of crude going again.
Berkshire Hathaway has been famous for buying stocks at what it considers low prices, and criticism has been high that U.S. stocks generally look too expensive.
Berkshire Hathaway’s stock rose 1.5%.
Higher oil prices push inflation upward, and the main event for Wall Street this week will likely be Wednesday’s update on how bad inflation was last month.
They would also undercut prices for stocks and other investments.