U.S. stock indexes barely budged after oil prices climbed another 3 percent.
The S&P 500 edged down by 0.1 percent Wednesday after swinging between modest losses and gains. The Dow Jones Industrial Average was virtually unchanged and slipped less than 0.1 percent, while the Nasdaq composite fell 0.6 percent.
Philip Morris International, AT&T and other stocks rallied after reporting stronger profits for the spring than analysts expected. But AI stocks continued to swing and dragged the U.S. market with them.
The price for Brent crude oil touched its highest level in nearly six weeks, and Treasury yields rose in the bond market.
On Wednesday:
The S&P 500 rose 10.24 points, or 0.1 percent, to 7,498.96.
The Dow Jones Industrial Average slipped 6.06 points, or less than 0.1 percent, to 52,218.58.
The Nasdaq composite fell 146.30 points, or 0.6 percent, to 25,690.90.
The Russell 2000 index of smaller companies fell 27.46 points, or 0.9 percent, to 2,959.94.
For the week:
The S&P 500 is up 41.27 points, or 0.6 percent.
The Dow is up 72.16 points, or 0.1 percent.
The Nasdaq is up 170.66 points, or 0.7 percent.
The Russell 2000 is down 2.28 points, or 0.1 percent.
For the year:
The S&P 500 is up 653.46 points, or 9.5 percent.
The Dow is up 4,155.29 points, or 8.6 percent.
The Nasdaq is up 2,448.91 points, or 10.5 percent.
The Russell 2000 is up 478.03 points, or 19.3 percent.
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