What’s News in Markets: Refiners Cash In, AI Stocks Wobble, Homebuilder Blues
Summary
WSJ’s Imani Moise reviews weekly market moves, noting that while tech giants pushed the S&P and Nasdaq to record highs, broader equity gains were limited by a bond sell-off and rising Treasury yields. The energy sector led gains as geopolitical conflicts widened the crack spread, boosting refiners like Valero and Marathon. Conversely, Caterpillar and chip stocks fell following an FTC investigation into equipment practices and reports of lower OpenAI revenue. Additionally, homebuilder shares declined as 30-year mortgage rates hit a three-year high, pressuring housing demand.
Topics discussed
Sponsor: Goldman Sachs Asset Management
Market Overview: Tech highs and bond sell-off
Weekly index performance summary
Energy sector gains from global fuel shortage
Caterpillar drop amid equipment stock investigation
Chip stocks tumble on OpenAI revenue reports
Housing market pressure from rising mortgage rates
Show credits and sign-off
Sponsor: NetSuite AI guide
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