South Korea Financial Markets

A currency trader reacts near a screen showing the Korea Composite Stock Price Index (KOSPI), right, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, April 29, 2026.

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Oil prices keep spurting higher, but US stocks hold near their records

Oil prices keep spurting higher, but US stocks hold near their records

More jumps for oil prices sent tremors through the bond market, along with hints that some Federal Reserve officials don’t want to cut interest rates any time soon. But fat profit reports from big companies helped the U.S. stock market remain resilient Wednesday. The S&P 500 edged down by less than 0.1%, a day after slipping from its latest all-time high. The Dow dropped 0.6%, while the Nasdaq composite inched up less than 0.1%. The price for a barrel of Brent crude jumped nearly 6%. Treasury yields climbed as traders erased nearly all their bets for a cut to rates by the Fed this year.