Wall Street’s big rally slows as oil climbs back above $100
By STAN CHOE
AP Business Writer
NEW YORK (AP) — Wall Street’s big two-day rally is stalling on Thursday as oil prices jump back above $100 per barrel. The S&P 500 was drifting between small gains and losses after surging more than 2% in each of the prior two days for its best back-to-back performance in nearly two years. It was 0.4% higher in afternoon trading. U.S. oil leaped more than 8% to top $102 per barrel. Such moves have become the norm as investors struggle to handicap what will happen to the economy and inflation because of Russia’s invasion of Ukraine, higher interest rates and renewed COVID-19 worries.
