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Oil, Iran, and Fed Pressure | Odessa News
Wall Street ended August with a dip after U.S. military strikes on Iran sent oil prices soaring and gasoline hitting record highs—now over $4 a gallon—fueling inflation pressure on consumers and the Fed. Despite Monday’s slide, August was still strong overall: the S&P 500 and Nasdaq posted monthly gains, while the Dow notched its fifth straight monthly win. Energy stocks led the rebound, but looming Fed rate hikes loom as inflation remains stubbornly above target. GameStop got a boost from earnings, while Aon took a hit after announcing a $17 billion insurance buyout—showing markets are…
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