Event Overview
Oil prices whipsaw while US stocks hover above their record heights
Oil prices surged toward multi-month highs on the war with Iran, then pared gains as markets tracked the bond market’s expectation that the Federal Reserve will keep rates unchanged. The S&P 500 and Dow climbed earlier, with the Dow up around 1.5% at midday, while Brent crude briefly touched about $114.70 before retreating toward $107. The data showed the personal consumption expenditures price index up 0.7% in March, and year-over-year inflation near 3.5%, fueling speculation the Fed will maintain current policy. Discrepancies exist over whether the data will delay rate cuts, per AP and PBS notes, while New York Post highlights gas-price-driven inflation effects.
Concrete downstream impact not stated in the supplied coverage.
Fed’s key inflation gauge hits 3.5% as Iran war pushes up gas prices
Fast-rising gas prices lifted the Federal Reserve’s preferred inflation gauge to 3.5% in March, its highest rate in almost three years, new data showed Thursday. The Personal Consumption Expenditures price index rose 0.7% from February, a faster-than-expected acceleration from the previous monthly pace of 0.4%, the.
Oil prices whipsaw while US stocks hover above their record heights
Specialist Anthony Matesic works at his post on the floor of the New York Stock Exchange, Thursday, April 30, 2026. (AP Photo/Richard Drew) NEW YORK (AP) — Oil prices whipsawed on Thursday and surged toward their highest levels since the war with Iran began, only for the leaps to quickly vanish. The U.S. stock market.
Key inflation gauge jumps to highest level in 3 years as Iran war spikes gas prices
Christopher Rugaber, Associated Press Christopher Rugaber, Associated Press WASHINGTON (AP) — A key inflation measure jumped in March as gas prices soared, the latest sign that the Iran war is pushing up the cost of living and delaying any interest rate cuts by the Federal Reserve. An inflation gauge monitored by the.
Fed’s preferred inflation gauge hits 3-year high as gas prices spiked on Iran war
US inflation accelerated in March as the Iran war raised gasoline prices, bolstering financial market expectations that the Federal Reserve could keep interest rates unchanged well into next year. The personal consumption expenditures price index jumped 0.7% last month, the largest gain since June 2022, after an.