Oil Price Surge Weighs on Stocks, Earnings Reports Continue

Stocks on Wall Street edged lower on Thursday as oil prices resumed their rise and companies continued to report earnings. The S&P 500 fell 13.59 points, or 0.2%, to 7,709.96, below the record it reached on Tuesday.

The Dow Jones Industrial Average fell 464.02 points, or 0.9%, to 53,885.10, while the Nasdaq composite fell 15.09 points, or 0.1%, to 26,348.35.

Oil prices gained ground as uncertainty remains over the US war with Iran that has stifled the global flow of oil. Brent crude rose 3.8% to $82.49.

CFO Josh Jepsen said orders were up at Honeywell Aerospace, but 'supply chain constraints are continuing to limit our ability to convert demand into sales across all our end markets.'