Stocks Stage Cautious Advance as Oil Tops $96: Markets Wrap

Wall Street staged a cautious advance, with stocks rising as traders tried to look through the potential implications of higher oil prices to inflation as the war in Iran showed no signs of abating.

While most shares in the S&P 500 climbed, the index saw a modest gain. US crude eased from session highs, but settled above $96. Airlines jumped after some executives cited strong bookings as travelers rush to lock in fares ahead of a potential increase in fuel costs. Bond yields fell alongside the dollar on the eve of the Federal Reserve decision.