News

Dow Jones Today | US stock market LIVE Updates:  US stock markets opened higher on Wednesday (March 4) as the earlier surge in oil prices eased, yet traders remained cautious amid the ongoing conflict involving Iran. The Dow Jones Industrial Average rose 180 points, or 0.4%. The S&P 500 traded up 0.3%, while the Nasdaq Composite moved 0.5% higher.

Oil prices have increased 14% in the past week to the highest in a year, but futures are much more muted, with year-ahead prices barely changed. This implies the boost to oil company profits will only be short-term, limiting executives’ ability to increase dividends and share buybacks.

And firms such as Exxon Mobil Corp. and ConocoPhillips that have assets in the Middle East affected by the conflict may see a hit to production and not reap the full benefit of the pricing gains.