US Stocks Mixed Amid Ongoing Middle East Tensions
US stocks were mixed on Thursday as investors remained cautious due to ongoing tensions in the Middle East and uncertainty ahead of a key summit between Presidents Donald Trump and Xi Jinping.
The conflict in the region has sparked concerns about global economic stability, with US futures dropping at the start of trading. Despite this, some sectors showed resilience, including energy stocks, which rose as investors saw little sign of progress in US-Iran talks.
CoreWeave Inc (CRWV.O) was among the gainers after JP Morgan upgraded its stock to 'overweight', while Versant Media Group Inc (VSNT.O) also rallied on the back of Citi's initiation of coverage with a 'buy' rating. Conversely, some stocks fell, including Stitch Fix Inc (SFIX.O), which plunged after releasing downbeat revenue forecasts.
US Treasury bond ETFs hit multi-year lows as bond yields surged, while Exxon Mobil Corp, Chevron Corp, and Occidental Petroleum Corp saw their energy stocks rise in response to the lack of progress in US-Iran talks. BlackBerry Ltd (BB.N) also gained as its QNX division reported a record revenue high.