US Stocks Dip Amid Rising Oil Prices, Mixed Earnings
US stocks edged lower on Wall Street as oil prices rose and more company earnings reports rolled in. The S&P 500 fell 0.1% Thursday, hovering below its record high set earlier this week.
The Dow Jones Industrial Average dropped 404 points, while the Nasdaq composite remained mostly unchanged. Several companies reported their latest financial results, including Warner Bros. Discovery and Molson Coors, which saw their stocks rise after beating earnings expectations.
However, not all companies fared well. Honeywell Aerospace's stock plummeted 21.2% following disappointing earnings, while AppLovin slumped 18.4% due to mixed financial results.
Oil prices surged as uncertainty persists over the US-Iran conflict, which has stifled global oil flows through the Strait of Hormuz. Brent crude rose 3.9% to $82.55 per barrel.