Wall Street slips as oil prices climb to multi-month highs

Stocks slipped on Wall Street Friday as rising oil prices pressured the market, with the S&P 500 falling 0.4 percent and the Dow Jones Industrial Average dropping 591 points. Brent crude oil rose 2.8 percent to $111.69 per barrel, its highest level since March, weighing on three out of every four stocks in the S&P 500. AI-related companies like Micron Technology and Microsoft gained, while industrial and financial firms such as Caterpillar and American Express posted losses. Energy companies like Chevron and ConocoPhillips benefited from higher oil prices. The U.S. war with Iran has severely cut global oil supply, fueling price increases across goods. Investors await next week's earnings from Alphabet, Microsoft, and Amazon, plus the Fed's preferred inflation measure.