Stocks decline as oil prices fluctuate

Wall Street is awaiting the release of the latest monthly inflation data, with economists predicting a slight slowdown to 3.4% in July from 3.5%. The stock market declined modestly, while oil prices remained volatile due to tensions related to Iran, with Brent crude settling at $88.91 per barrel. Higher oil prices have driven gasoline costs above $4 per gallon, intensifying inflation concerns and influencing expectations about potential Federal Reserve interest rate hikes.

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