Stocks Dip Amid Inflation and Oil Jitters | Australia News

Stocks are sliding as the S&P 500, Dow, and Nasdaq all dip, with Australia’s market mirroring the downturn. Despite strong Q1 earnings—up 50% for many S&P 500 companies—the big retailers like Home Depot and Walmart face headwinds: tighter wallets from recent job cuts and stubborn inflation. Consumer spending dropped last month compared to June. Oil prices spiked due to Iran tensions, worsening losses, while rising Treasury yields—driven by a solid New York manufacturing report—pressure inflation and hint at another Fed rate hike, making borrowing more expensive and mortgage rates climb. 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/7175ba11a9904ded