Stocks Dip as Oil Prices Rise

The S&P 500 slid on Tuesday as oil prices moved higher, with investors awaiting further developments in the Middle East ahead of a ceasefire that’s set to expire Wednesday.

The Dow Jones Industrial Average sank 33.09 points to 49,409.47.

The much-broader index dropped 13.5 points to 7,095.66.

The NASDAQ moved lower 24.53 points to 24,379.86.

President Donald Trump added, however, that the U.S. military is “ready” to bomb Iran if a deal is not signed by the ceasefire deadline and that he does not want to extend it.

This comes after Trump said earlier Tuesday in a Truth Social post that Iran “Violated the Cease Fire numerous times!”

On Tuesday, UnitedHealth’s first-quarter results surpassed Wall Street’s expectations, which sent shares of the health insurance giant more than 8% higher. The company also hiked its earnings outlook.

Meanwhile, Amazon shares climbed nearly 2% on the heels of the company agreeing to invest up to $25 billion in artificial intelligence startup Anthropic.

Prices for the 10-year Treasury moved lower, raising yields to 4.29% from Monday’s 4.26%. Treasury prices and yields move in opposite directions.

Oil prices took on $3.54 to $93.15 U.S. a barrel.

Gold prices slumbered $69.20 to $4,759.40 U.S. an ounce.