Stocks Edge Lower as Oil Prices Surge Amid Earnings Reports and Iran Tensions

US stocks experienced a decline on Thursday as oil prices continued to rise and mixed company earnings reports were released.

The S&P 500 fell by 13.59 points, or 0.2%, to 7,709.96, pulling further away from its record set on Tuesday.

Warner Bros. Discovery rose 1.7% after reporting earnings that surpassed investors' expectations, while Honeywell Aerospace fell 23.2% due to disappointing results.

The ongoing US war with Iran has contributed to increased uncertainty and inflation concerns, causing oil prices to surge as high as $113 during the conflict.