S&P 500 ends three-day losing streak as oil rally pauses, easing inflation concerns

On Wednesday, following three consecutive trading days of decline, the U.S. stock market fluctuated between slight gains and losses. Oil prices halted their rally, alleviating market concerns about inflation, while traders continued to assess the Federal Reserve's possible future rate hike trajectory. The Nasdaq 100 Index fell slightly during the session, after recording its worst daily performance in two weeks on Tuesday. U.S. stocks have been under pressure recently as tensions over control of the Strait of Hormuz between the U.S. and Iran flared up again after a relatively calm period, sparking a new round of oil price increases and growing fears of a potentially prolonged war. On Wednesday, U.S. crude prices retreated to below $90 per barrel and bond yields also declined. As for the equity market itself, current market sentiment remains relatively calm. As of Tuesday, the S&P 500 Index had gone 24 consecutive trading days without a drop of more than 1%, a period of tranquility last seen in mid-May, when cooling inflation data prompted investors to increase bets that the U.S. economy and corporate earnings growth would remain strong.