Asian shares are mixed after gains on Wall Street, while oil prices climb - AP News

A general view shows the New York Stock Exchange, Friday, Aug. 7, 2026, in New York. (AP Photo/Yuki Iwamura) Add AP News as your preferred source to see more of our stories on Google. Share (function () { const counter = document.getElementById("scrollToComments"); const HEADER_OFFSET = 120; function findCommentsModule() { return document.querySelector('#ap-comments'); // return document.querySelector('.vf3-comments, #vf-conversations, '); } function maybeShowCounter() { if (findCommentsModule()) { counter.style.display = "inline-flex"; } else { counter.style.display = "none"; } } // Show only when Viafoura is present maybeShowCounter(); // Watch DOM for late loads const observer = new MutationObserver(maybeShowCounter); observer.observe(document.documentElement, { childList: true, subtree: true }); // Scroll action counter.addEventListener("click", function () { const el = findCommentsModule(); if (!el) return; const top = el.getBoundingClientRect().top + window.scrollY - HEADER_OFFSET; window.scrollTo({ top, behavior: "smooth" }); }); })(); .thin-line-button { display: inline-flex; align-items: center; justify-content: center; border: 1px solid #ccc; height: 30px; padding: 0 10px; cursor: pointer; border-radius: 5px; background: none; text-align: center; font-size: 1.4rem; font-weight: 700; white-space: nowrap; flex-shrink: 0; color: inherit; transition: none; /* Remove animation effect */ } .thin-line-button { color: #000; background: white; } /* Remove hover effect */ .thin-line-button:hover { border: 1px solid #ccc; } .comment-icon { width: 20px; height: 20px; min-width: 20px; min-height: 20px; flex: 0 0 20px; object-fit: contain; display: inline-block; } .Page-actions-commentCounter .embed-caption { display: none; } .vf-comments-count.vf-is-logged-in { margin-left: 4px; } 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. The S&P 500 slipped 0.1% from its record set on Friday. The Dow Jones Industrial Average dipped 60 points, or 0.1%, and the Nasdaq composite fell 0.3%. Momentum slowed for stocks following a rally powered by soaring profits for big U.S. companies. Reports are on track to show earnings per share leaped 50% in the spring from a year earlier for companies in the S&P 500, according to FactSet. That would be the best growth since five years ago, when the economy was roaring out of the chasm created by COVID. Berkshire Hathaway is one of the latest companies to deliver a stronger profit for the last quarter than analysts expected, and the company built by legendary investor Warren Buffett said over the weekend that it’s also invested some of its massive pile of cash into stocks under its new CEO, Greg Abel. 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. But when they report strong profits, it helps them look less pricey. AP AUDIO: US stocks edge down from their record after oil prices climb 5% U.S. stocks edge down from their record highs after oil prices climb. MarineMax jumped 46.1% after the retailer, marina operator and superyacht services provider said it agreed to sell itself for about $1.5 billion in cash to a portfolio company of Blackstone. Varex Imaging leaped 48.8% after Teledyne Technologies said it would buy the maker of X-ray imaging components for $18.90 per share in cash. But Intel helped offset such gains and fell 4.1% after saying it may sell $15 billion of its stock. Such a move would dilute the ownership stakes of shareholders, and Intel said it would likely use the cash for investments to take advantage of the huge spending underway on artificial-intelligence technology. All told, the S&P 500 slipped 4.53 points to 7,753.11. The Dow Jones Industrial Average dipped 60.95 to 53,975.98, and the Nasdaq composite sank 85.26 to 26,605.36. In the oil market, the price for a barrel of Brent crude rose 5% to $87.72. It had swung between $72 and $102 last month as hopes rose and fell that the United States and Iran could reach an agreement that would allow oil tankers to freely exit the Middle East again to deliver crude worldwide. But hopes are turning toward caution again, and the price of Brent is back to where it was earlier this month, as well as in mid-July, mid-June and in the first week of the war in March. 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. Economists expect it to show inflation slowed to 3.4% from 3.5% in June. A slowdown would mean less pressure on the Federal Reserve to raise interest rates. Higher rates would help keep a lid on inflation, but they would also slow the economy by making it more expensive for U.S. households and companies to borrow money. They would also undercut prices for stocks and other investments. A report on Friday showing unexpectedly weak hiring across the United States lowered Wall Street’s expectations for an upcoming hike to interest rates. But traders still see a nearly 52% chance the Fed will raise its main interest rate at its next meeting in September, according to data from CME Group. The yield on the 10-year Treasury rose to 4.70% from 4.65% late Friday. That’s up from 3.97% before the war with Iran, and the climb has already sent rates for mortgages and other kinds of loans significantly higher. In stock markets abroad, indexes were mixed in Europe after rising in much of Asia. Japan’s Nikkei 225 jumped 2.1% for one of the world’s bigger moves. AP Business Writers Michelle Chapman and Elaine Kurtenbach contributed to this report.