Commodities
US Stocks Dip as Oil Prices Surge Amid Earnings Reports
US stocks dipped on Thursday as oil prices surged nearly 4% and more earnings reports rolled in, leaving investors wary of market volatility.
The S&P 500 fell 0.2%, hovering just below its record high set on Tuesday, while the Dow Jones Industrial Average dropped 0.9%. The Nasdaq composite lost 0.1% as well.
Among companies reporting earnings, Warner Bros. Discovery rose 1.7% after beating expectations, but Honeywell Aerospace slumped 21.2% after missing forecasts.
The rise in oil prices was partly driven by uncertainty over the US-Iran conflict and its impact on global oil supplies, with Brent crude rising to $82.55 per barrel.