Wall Street drifts near its all-time high as oil prices keep swinging

Wall Street is currently drifting below its all-time high as oil prices continue to swing due to uncertainty regarding the war with Iran. Meanwhile, economists anticipate that the latest federal reading will indicate inflation remains high, though it is expected to have decelerated to 3.4% in July from 3.5% in June. These fluctuations in crude oil and inflation data are contributing to the current volatility observed across U.S. stocks and energy markets.