Overview
- U.S. stocks closed lower Thursday, with the Dow down 0.63% (about 313 points) as the S&P 500 fell 0.38% and the Nasdaq eased 0.13%.
- The pullback followed fresh record highs for the S&P 500 and Nasdaq earlier in the week on hopes for progress in U.S.–Iran talks, then reports on Iranian TV of missile strikes near the Strait of Hormuz added uncertainty.
- Oil prices reversed higher during the session, with WTI near $95.85 a barrel and Brent back above $100, which hit energy shares and raised concern that fuel costs could stay elevated.
- The 10-year Treasury yield climbed toward 4.39%, a move that tends to lift mortgage and loan rates and can lower stock valuations by making future profits less valuable.
- Earnings moves kept trading choppy, with Arm, Planet Fitness, Zoetis, and Whirlpool sinking while Datadog and Fortinet jumped, and investors now look to Friday’s jobs report for the next cue on rates.