Wall St edges up as AI enthusiasm eases worries over higher oil prices, yields
SPY•U.S. stocks edged higher, with the Dow up 0.44%, the S&P 500 up 0.29% and the Nasdaq up 0.41%, as AI optimism offset concerns over oil prices and Treasury yields. Brent crude hovered above $100 a barrel, and the 10-year Treasury yield was 5.1%.
1. Indexes rise modestly
Wall Street’s main indexes inched higher as investors weighed AI optimism against elevated oil prices and rising Treasury yields. At 9:59 a.m. ET, the Dow rose 0.44% to 51,576.71, the S&P 500 gained 0.29% to 7,726.62 and the Nasdaq advanced 0.41% to 27,048.75. Eight of the 11 S&P 500 sectors declined, while technology gained 1%.
2. AI stocks and rate outlook
Microsoft shares rose 3% after the company introduced new Copilot capabilities, including a coding tool and an always-on AI agent. Akamai Technologies surged 8% after an $11.6 billion cloud services deal with Anthropic. Traders saw a 64% chance of a Federal Reserve rate increase of at least 25 basis points in October, up from around 50% earlier in the week, according to the CME Group’s FedWatch Tool.
