Oil Falls Below $100 and Tech Stocks Continue Rally
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Why did oil prices fall below $100 and how is it affecting U.S. stock markets?
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Here's your closing bell brief for Tuesday, september twenty second. I'm Anthony Bancy for the Wall Street Journal. Falling oil prices helped US stocks stay buoyant today.
What triggered Brent crude to dip below $100 per barrel this week?
Brent crude fell below one hundred dollars a barrel after encouraging news about oil exports from the Middle East. Saudi Arabia is running tests on its east west pipeline and could restart flows as early as this week. The Tech Focus NASDAQ rose nearly half a percent to another record high. The Dow slipped 0.4%, while the SP 500 stayed flat.
How are tech stocks continuing their rally and what’s pushing the NASDAQ to a new record high?
Government bond yields firmed following early declines, with the 10-year Treasury yield rising near five percent. Among individual companies, Shopify shares jumped more than 7%. The online shopping platform teamed up with Meta to allow its new AI agent, Muse, to complete purchases. Meanwhile, Meta platform shares edged lower by 0.6%. Charles Schwab's stock fell more than 6% on rising competitive fears.
How is Shopify’s new Muse AI agent, powered by Meta, reshaping online shopping purchases?
Investors worry artificial intelligence tools will disrupt financial advisory firms and hit their margins. And Doordash agreed to pay $131.5 million to settle an investigation by New York City regulators after admitting they underpaid and missed payments for delivery workers. Shares of the food delivery service fell less than a percent. Heads up, an artificial intelligence tool helped us make this episode by creating summaries that were based on WSJ reporting and then reviewed and adapted by an editor. And we have a lot more coverage on WSJ's What's News. Listen and subscribe wherever you get your podcasts.
The questions that matter most are about what happens next.
Why did DoorDash agree to a $131.5 million settlement with New York City regulators?
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Chapters
5 chapters
1
Why did oil prices fall below $100 and how is it affecting U.S. stock markets?
0:00–0:27
2
What triggered Brent crude to dip below $100 per barrel this week?
0:27–0:47
3
How are tech stocks continuing their rally and what’s pushing the NASDAQ to a new record high?
0:47–1:12
4
How is Shopify’s new Muse AI agent, powered by Meta, reshaping online shopping purchases?
1:12–1:52
5
Why did DoorDash agree to a $131.5 million settlement with New York City regulators?
1:52–2:35