Dow Climbs About 400 Points as Oil Drops Below $98; Apple Slips Ahead of Earnings

Stocks opened higher and the Dow Jones Industrial Average was up roughly 400 points in midday trading, buoyed by a decline in oil prices. The market reaction reflected a common read-through that cheaper energy can ease inflation pressure and lower costs across the economy, at least in the near term.

Oil prices moved down sharply, with crude trading below $98 per barrel in the same period referenced by the report. That move contrasted with recent volatility in energy markets and helped set the tone for risk appetite across equities.

Against that backdrop, Apple’s shares were down ahead of its earnings release. The report framed Apple’s weakness as positioning ahead of results, rather than as a response to an announced company development.

For Apple, the earnings cycle is a key moment because results typically inform expectations for iPhone demand, services growth, and margins. The company’s financial outlook also tends to influence how investors value the broader technology sector, given Apple’s large index weight.

Apple’s earnings are watched closely for both revenue trends and profitability, particularly because investors pay attention to how hardware sales and recurring services contribute to overall performance. Even when macro factors drive day-to-day moves, the market usually tightens focus around Apple’s guidance and commentary once results approach.

The broader sector context is that technology stocks often trade as a proxy for interest-rate expectations. When energy prices fall, that can shift expectations for inflation and yields, which can affect valuation multiples for high-quality growth companies like Apple.