US Stocks Decline as Oil Prices Rise and Earnings Reports Disappoint

Stocks declined on Wall Street on Thursday as oil prices rose and companies continued to report their quarterly earnings. The S&P 500 index fell 0.2% to 7,709.96, just below its record high reached on Tuesday. The Dow Jones Industrial Average dropped 0.9% to 53,885.10, while the Nasdaq composite slipped 0.1% to 26,348.35. Warner Bros. Discovery saw a gain after beating earnings expectations, but Honeywell Aerospace fell short of forecasts and declined.

The price of Brent crude oil increased nearly 4%, contributing to the decline in stocks. Treasury yields rose in the bond market as well. Despite Thursday's drop, the S&P 500 has gained 2.9% for the week, while the Dow is up 2.7%. The Nasdaq and Russell 2000 indices have also seen increases of 3.8% and 2.4%, respectively.

The year-to-date numbers show the S&P 500 up 12.6%, the Dow at 12.1%, the Nasdaq at 13.4%, and the Russell 2000 at 20.9%.