US Stocks Open Lower as Oil Prices Rebound on US-Iran Tensions, PCE Data Limits Losses

US stocks opened lower on May 28, 2026, as renewed US-Iran tensions pushed oil prices higher, though in-line inflation data helped curb losses. The Dow Jones Industrial Average fell 253.71 points, or 0.5%, to 50,390.57, while the S&P 500 slipped 0.01% to 7,519.60. The Nasdaq Composite edged up 0.06%. Brent crude rose 2.12% to $94.21 a barrel, while the 10-year Treasury yield eased to 4.481%. The April personal consumption expenditures (PCE) price index rose 3.8% year-over-year, matching expectations, and core PCE was 3.2%, below the 3.3% forecast. First-quarter GDP growth was revised down to 1.6% annualized, signaling a slowdown. The US and Iran have exchanged airstrikes, threatening Strait of Hormuz flows. Federal Reserve officials noted inflation risks remain elevated, though the PCE print offered some reassurance. Market sentiment remained cautious amid fears of prolonged high rates if energy costs persist.