Business & Markets
Stocks mixed as US inflation stays high, oil falls
Global stocks were mixed on Wednesday as Wall Street ended lower after US inflation stayed elevated and investors waited for Nvidia earnings and a widely watched Federal Reserve speech.
The US personal consumption expenditures price index rose 3.7% in July from a year earlier, the same annual increase as in June. The gauge remained close to three-year highs and above the Federal Reserve's long-term 2% target.
In New York, the Dow Jones Industrial Average closed down 0.2% at 53,463.88, the S&P 500 finished down less than 0.1% at 7,675.70 and the Nasdaq Composite fell 0.1% to 26,130.20.
Heather Long, chief economist at Navy Federal Credit Union, said the United States “still has an inflation problem”. She said the data gave the Federal Reserve time to wait, adding that inflation was not getting worse but “didn't get any better in July either”.
Paris and Frankfurt closed higher, with the CAC 40 up 0.3% and the DAX up 0.1%. London ended down 0.1% as energy companies BP and Shell fell.
Oil prices recovered some earlier losses but remained lower. Around 2015 GMT, West Texas Intermediate was down 0.2% at $82.23 a barrel and Brent North Sea crude was down 0.8% at $87.84. Both main crude contracts have fallen this week as Iran and Oman edge toward a deal to open a temporary shipping corridor in the Strait of Hormuz, though analysts said details remain unclear, including whether access would involve a fee.
The annual Jackson Hole symposium of central bankers and economic policymakers begins on Thursday, with investors watching for clues on US interest rate policy. eToro analyst Bret Kenwell said investors would be watching whether Fed Chair Kevin Warsh uses Friday's speech to address how policymakers plan to bring inflation back toward target.
Investors were also waiting for Nvidia's after-hours earnings report, a closely watched signal for demand linked to artificial intelligence. Nvidia shares fell 1.6%. Meta shares rose 1.1% after the company reached a settlement to pay a coalition of US states as much as $16.7 billion and make changes to how youths use its social media sites.
Update
Wall Street finished lower, with the Dow down 0.2%, the S&P 500 down less than 0.1% and the Nasdaq down 0.1%.
Around 2015 GMT, West Texas Intermediate was down 0.2% at $82.23 a barrel and Brent was down 0.8% at $87.84.
Nvidia shares fell 1.6% before its after-hours earnings report, while Meta shares rose 1.1%.
Source note: AFP news report published on 26 August 2026 at 20:41:49 UTC.
Update
Paris and Frankfurt closed higher, while London closed slightly lower as BP and Shell fell.
Oil prices recovered part of earlier losses and were down 0.3% around 1545 GMT, with WTI at $82.10 and Brent at $87.03.
In late-morning New York trading, the Dow was down 0.2%, the S&P 500 down less than 0.1% and the Nasdaq down 0.2%.
Nvidia shares were down about 1% before its after-hours earnings report.
Meta shares were up more than 2% after a settlement involving payments of as much as $16.7 billion and changes affecting young users.
Source note: AFP news report published on 26 August 2026 at 15:53:39 UTC.
Update
The US personal consumption expenditures price index rose 3.7% in July from a year earlier.
Wall Street's main indexes were slightly lower in morning trading after the inflation data.
Brent was at $85.67 a barrel and WTI at $80.53 around 1335 GMT after earlier larger falls.
Analysts quoted in the item said investors were watching Jackson Hole and Nvidia's guidance.
Source note: AFP news report published on 26 August 2026 at 13:46:38 UTC.
Update
Oil prices were lower around 1115 GMT, with West Texas Intermediate down 2.6% at $80.21 and Brent down 2.5% at $85.06.
Paris and Frankfurt were higher in later European trading, while London was slightly lower as BP and Shell weighed on the index.
US equity futures were little changed before the open.
US Treasury Secretary Scott Bessent said Washington was declaring an "economic D-Day" against Tehran and its trade partners.
Source note: AFP news report published on 26 August 2026 at 11:33:16 UTC.
Update
West Texas Intermediate was down 2.7% at $80.17 a barrel around 0810 GMT.
Brent North Sea crude was down 2.5% at $86.39 a barrel around 0810 GMT.
Hong Kong's Hang Seng Index closed up 0.6% at 25,652.97.
Paris rose, while London and Frankfurt edged down.
Source note: AFP news report published on 26 August 2026 at 08:26:35 UTC.
Update
Crude was down about 2% on Wednesday, with Brent at $86.90 a barrel and WTI at $80.74 around 0715 GMT.
Tokyo and Shanghai closed higher, while Hong Kong and several other Asian markets rose; Sydney, Singapore and Manila fell.
London and Paris opened slightly higher, while Frankfurt edged down.
The item added analyst comment on Nvidia earnings and noted uncertainty linked to a US-Canada trade row.
Source note: AFP news report published on 26 August 2026 at 07:23:45 UTC.
Uncertainty notes
Details of the possible Iran-Oman shipping corridor in the Strait of Hormuz remain unclear, including whether there would be a fee to use it.
Nvidia's after-hours earnings report and guidance were still pending in the item.
Source
AFP news report published on .