The U.S. stock market edged down from its all-time high on Monday, while oil prices rose on uncertainty about when the Strait of Hormuz could reopen. The S&P 500 slipped 0.1% from its record set on Friday. The Dow Jones Industrial Average dipped 60 points, or 0.1%, and the Nasdaq composite fell 0.3%.

Momentum slowed for stocks following a rally powered by soaring profits for big U.S. companies. Reports are on track to show earnings per share leaped 50% in the spring from a year earlier for companies in the S&P 500. Berkshire Hathaway rose 1.5% after delivering a stronger profit than expected and announcing it invested some cash into stocks under new CEO Greg Abel.

In the oil market, the price for a barrel of Brent crude rose 5% to $87.72. It had swung between $72 and $102 last month as hopes rose and fell that the United States and Iran could reach an agreement. Higher oil prices push inflation upward, and the main event for Wall Street this week will likely be Wednesday’s update on how bad inflation was last month. Economists expect it to show inflation slowed to 3.4% from 3.5% in June.

The yield on the 10-year Treasury rose to 4.70% from 4.65% late Friday. In stock markets abroad, indexes were mixed in Europe after rising in much of Asia. Japan’s Nikkei 225 jumped 2.1% for one of the world’s bigger moves.