Brent Crude Rises as Wall Street Stocks See Mixed Results

Stocks on Wall Street started Thursday with mixed results as more company earnings reports were released. The S&P 500 was essentially flat, while the Dow Jones Industrial Average edged up by 29 points and the Nasdaq composite fell by 0.2%. Keurig Dr Pepper shares rose by 3% after reporting better-than-expected earnings.

Honeywell Aerospace, however, lost about a quarter of its value due to disappointing results. European markets were higher overall, but Asian benchmarks closed mostly lower overnight.

The price of Brent crude oil increased by 2% to $80.55 per barrel, while U.S. benchmark crude rose by about 1% to $76.02 per barrel. This comes as the Trump administration has described a potential deal to reopen the Strait of Hormuz, which has had an impact on global oil supplies and energy markets.

Markets are waiting for Friday's nonfarm payroll report, with investors bracing for its potential impact. Strong corporate profits have generally been steering U.S. stocks higher, but Asian benchmarks have been hit by selling of computer chipmakers and other companies related to artificial intelligence.