US stocks hover just below records as oil slips on hopes of an Iran deal
U.S. stocks fell from record highs on Wall Street Thursday as oil prices fluctuated amid hopes for an Iran deal, with Brent crude settling at $100.06 after sharp swings. The S&P 500, Dow Jones, and Nasdaq dipped slightly, while corporate earnings reports showed mixed results, with companies like Datadog surging and Whirlpool and Shake Shack plummeting." "article": "U.S. stocks dipped from record levels on Wall Street Thursday as oil prices swung wildly on speculation over a potential Iran deal. Brent crude oil settled at $100.06, down 1.2% from earlier peaks above $115, after Iran signaled it was reviewing U.S. proposals for ending the conflict. The price briefly fell near $96 after Pakistan’s Foreign Ministry suggested an agreement could come soon, but later recovered to near $102, triggering stock declines. The S&P 500 fell 0.4% to 7,337.11, the Dow Jones dropped 313 points to 49,596.97, and the Nasdaq slipped 0.1% to 25,806.20. Oil prices remain volatile due to uncertainty over the Strait of Hormuz, which has been closed since the war began, disrupting global crude deliveries. Iran’s move to create a new agency to tax and vet vessels passing through the strait could further complicate shipping costs. Corporate earnings reports provided mixed signals. Datadog surged 31.3% after beating profit expectations, while Albemarle rose 3% and Axon Enterprise jumped 10.6% due to strong revenue forecasts. Conversely, Whirlpool tumbled 11.9% after weak results, and Shake Shack dropped 28.3% following a quarterly shortfall. McDonald’s stock held steady with slight revenue growth but warned that high gasoline prices and consumer anxiety over the Iran war could hurt spring sales. Bond markets also saw shifts, with the 10-year Treasury yield rising to 4.38% from 4.36%, up from 3.97% before the war. Higher yields could increase borrowing costs for mortgages and loans, potentially slowing economic growth. Meanwhile, economic reports showed mixed trends: unemployment claims rose but less sharply than expected, while worker productivity grew only half as much as analysts anticipated. The uncertainty surrounding the Iran deal and its potential impact on oil prices continues to weigh on markets. Investors remain cautious, balancing optimism over corporate earnings against geopolitical risks and economic mixed signals.
U.S. stocks dipped from record levels on Wall Street Thursday as oil prices swung wildly on speculation over a potential Iran deal. Brent crude oil settled at $100.06, down 1.2% from earlier peaks above $115, after Iran signaled it was reviewing U.S. proposals for ending the conflict. The price briefly fell near $96 after Pakistan’s Foreign Ministry suggested an agreement could come soon, but later recovered to near $102, triggering stock declines. The S&P 500 fell 0.4% to 7,337.11, the Dow Jones dropped 313 points to 49,596.97, and the Nasdaq slipped 0.1% to 25,806.20. Oil prices remain volatile due to uncertainty over the Strait of Hormuz, which has been closed since the war began, disrupting global crude deliveries. Iran’s move to create a new agency to tax and vet vessels passing through the strait could further complicate shipping costs. Corporate earnings reports provided mixed signals. Datadog surged 31.3% after beating profit expectations, while Albemarle rose 3% and Axon Enterprise jumped 10.6% due to strong revenue forecasts. Conversely, Whirlpool tumbled 11.9% after weak results, and Shake Shack dropped 28.3% following a quarterly shortfall. McDonald’s stock held steady with slight revenue growth but warned that high gasoline prices and consumer anxiety over the Iran war could hurt spring sales. Bond markets also saw shifts, with the 10-year Treasury yield rising to 4.38% from 4.36%, up from 3.97% before the war. Higher yields could increase borrowing costs for mortgages and loans, potentially slowing economic growth. Meanwhile, economic reports showed mixed trends: unemployment claims rose but less sharply than expected, while worker productivity grew only half as much as analysts anticipated. The uncertainty surrounding the Iran deal and its potential impact on oil prices continues to weigh on markets. Investors remain cautious, balancing optimism over corporate earnings against geopolitical risks and economic mixed signals.
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