US stocks faltered on May 5 as oil prices climbed on concern that heightened Middle East tensions could threaten a fragile ceasefire. Brent crude jumped more than 5% before paring gains to trade near $110 per barrel. [1]
The S&P 500 swung higher and lower after its longest weekly advance since 2024, with trading turning choppy as investors weighed the jump in energy prices against signs of a still-solid economy. [1]
Recent US economic data pointed to resilience in the economy and helped push Treasury yields higher. That move added pressure on equities as traders balanced stronger growth signals with the risk of hotter inflation if oil stays elevated. [1]
The market action followed a volatile session on May 3, when the S&P 500 also moved sharply after the index logged its longest weekly advance since 2024. [1]
Traders will watch the next round of US economic data and any fresh signals on the ceasefire, with oil prices and Treasury yields likely to steer the market near term. [1]