US stocks fluctuated on Thursday as investors absorbed a series of earnings reports, prospects of an imminent Strait of Hormuz deal, and fresh labor market data.
The Dow Jones Industrial Average (^DJI) fell 0.5%, risking ending the blue-chip index's record-breaking win streak, while the S&P 500 (^GSPC) fell 0.2%. The Nasdaq Composite (^IXIC) ticked below the flat line.
Investors remain hyper-focused on AI capital requirements and monetization. Those concerns, combined with high valuations for some tech names, have led to punishing earnings reactions for some AI highfliers such as Sandisk (SNDK) and Western Digital (WDC).
SpaceX (SPCX) stock popped 2% as a lockup period expired, freeing up insiders to sell their shares, though some saw the event as already priced in.
Geopolitical uncertainty continues to hang over markets, helping to send gold prices (GC=F) to multi-week highs. Global oil prices (BZ=F), which have fluctuated in recent days, rose to $81 per barrel on Thursday after Iran said it had reached an agreement with Oman for a temporary shipping route through the Strait of Hormuz. Iranian Foreign Ministry spokesperson Esmail Baghaei said the two nations would reach a deal "if certain third parties do not obstruct this process."
#strait #hormuz
The Dow Jones Industrial Average (^DJI) fell 0.5%, risking ending the blue-chip index's record-breaking win streak, while the S&P 500 (^GSPC) fell 0.2%. The Nasdaq Composite (^IXIC) ticked below the flat line.
Investors remain hyper-focused on AI capital requirements and monetization. Those concerns, combined with high valuations for some tech names, have led to punishing earnings reactions for some AI highfliers such as Sandisk (SNDK) and Western Digital (WDC).
SpaceX (SPCX) stock popped 2% as a lockup period expired, freeing up insiders to sell their shares, though some saw the event as already priced in.
Geopolitical uncertainty continues to hang over markets, helping to send gold prices (GC=F) to multi-week highs. Global oil prices (BZ=F), which have fluctuated in recent days, rose to $81 per barrel on Thursday after Iran said it had reached an agreement with Oman for a temporary shipping route through the Strait of Hormuz. Iranian Foreign Ministry spokesperson Esmail Baghaei said the two nations would reach a deal "if certain third parties do not obstruct this process."
#strait #hormuz
3 months ago
