Oil Soars as U.S. and Iran Escalate | Rochester News

Stocks took a hit Monday as Wall Street reacted to U.S. military strikes on Iran, with the S&P 500 down 0.4% and the Dow falling 348 points — though energy giants like Exxon and Chevron soared as oil prices jumped 3.2% to $99.10 per barrel. The UAE also intercepted an Iranian drone, signaling renewed tension after months of relative calm. With gas prices averaging over $4 a gallon for the entire month of August — the priciest August ever — inflation is soaring past the Fed’s 2% target, fueling fears of more rate hikes. Meanwhile, July’s job market surprise — a 23,000-job drop and downward revisions — has left economists watching closely as August employment data looms, with any further hikes risking economic resilience. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/c4e896c72ef5b998