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Traders work on the floor of the New York Stock Exchange during morning trading on May 1, 2026 in New York City.
Michael M. Santiago | Getty Images
U.S. equities fell on Thursday, as oil prices surged amid escalating conflict in the Middle East, while investors weighed quarterly results from two of the largest companies in the world.
The Dow Jones Industrial Average lost 527 points, or 1%. The S&P 500 dropped 1%, while the Nasdaq Composite lost 1.8%.
Oil prices put more pressure on stocks, as they soared after Yemen's Tehran-backed Houthi militant group claimed attacks on two Saudi Arabian tankers in the Red Sea, fueling concerns about an expansion of the conflict in the Middle East. Prices also moved higher after U.S. President Donald Trump threatened to bomb Iranian infrastructure.
"From this point forward, any time the Islamic Republic of Iran shoots at a ship in the Strait of Hormuz, whether it be by Missile, Rocket, Drone, or any other device or weapon, the United States will bomb and destroy ONE BRIDGE OR POWER PLANT, including those located next to, or in, the Capital City of Tehran," the president wrote in a post on Truth Social.
Brent crude futures for July delivery gained 6% to trade above $100, while U.S. West Texas Intermediate crude futures advanced 5% to above $91 per barrel. Both Brent and WTI were trading at their highest levels since before the U.S. and Iran reached an agreement to bring their war to an end last month.
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Brent crude futures over the last six months
"Inflation has remained top of the agenda for markets this morning, with Brent crude moving up ... as the Middle East escalation continues," Deutsche Bank's Jim Reid wrote in a note on Thursday morning.
Treasury yields rose alongside oil prices, with the 10-year yield reaching its highest level since January 2025.
"Indeed, the strikes between the U.S. and Iran show no sign of easing, and the Houthis said they targeted two oil tankers in the Red Sea yesterday, raising fears that the conflict is widening. So that's pushed oil prices up to a 7-week high and has also fueled speculation about more rate hikes."
Equities were also weighed down by a 6% slide in Alphabet shares after the Google parent lifted its forecast for 2026 capital expenditures to as high as $205 billion, pointing to strong artificial intelligence demand. The increase comes as investors have grown more cautious in recent months about hyperscalers' spending around the AI effort.
Tesla also dropped more than 12% after the electric vehicle maker posted a big earnings miss for the second quarter. The company's operating expenses also rose faster than revenue during the period.
18 Min Ago
Oil could surge above $128 on dangerous escalation in Mideast: RBC
The U.S. war with Iran has entered a more dangerous phase as tankers come under attack in the Red Sea and Tehran targets critical infrastructure in the Gulf, according to RBC Capital Markets.
Extreme pressure is building in the region that could send Brent oil prices above $128 per barrel, said Helima Croft, global head of commodity strategy, in a note to clients on Wednesday.
"Given the dangerous escalation currently unfolding, we remain of the view that oil prices could potentially take out the Russia/Ukraine oil price highs of $128/bbl in 2022 or even the 2008 peak of $146/bbl, especially in the worst-case scenario of a full regional war," Croft said.
Ukraine is also escalating its attacks on Russia's oil and products industry. Kyiv has hit more than 150 tankers in the Black Sea and Sea of Azov this month, the analyst said. The tanker attacks have forced the Caspian Pipeline Corporation to stop loading crude at its Black Sea terminal.
About 80% of Kazakhstan's crude is exported through that pipeline, according to RBC.
"The duration of closure remains uncertain, but alternate routes for Kazakhstan are limited (and unlikely to fully offset CPC), meaning production (1.7 mb/d in June) could face shut-ins," Croft said.
— Spencer Kimball
34 Min Ago
Stocks open lower
The three major averages dropped on Thursday morning.
The Dow Jones Industrial Average shed 604 points, or 1.2%, just after 9:30 a.m. ET, while the S&P 500 declined 1.2%. The Nasdaq Composite fell 1.8%.
— Sean Conlon
50 Min Ago
Brent crude crosses $100
FILE PHOTO: Crude oil storage tanks are seen from above at the Cushing oil hub, appearing to run out of space to contain a historic supply glut that has hammered prices, in Cushing, Oklahoma, March 24, 2016. Picture taken March 24, 2016.
Nick Oxford | Reuters
Oil prices spiked higher on Thursday following reports of attacks on tankers off the coast of Saudi Arabia and the U.S. renewed threats to escalate strikes against Iran.
Brent crude futures for July delivery crossed the $100 per barrel mark for the first time since May 26. At 9:15 a.m. ET, the international benchmark was up 6.4% at $100.05 per barrel. U.S. West Texas Intermediate crude futures advanced more than 5% to $91.08 per barrel, after touching its highest level since June 11. Read more.
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Brent crude futures, 1-day
— Christina Cheddar Berk
1 Hour Ago
Jobless claims fall to lowest since 1969
Jobless claims fell to their lowest level going back to 1969, suggesting the U.S. economy is accelerating just as rising oil prices add to inflation concerns.
Initial jobless claims fell to 187,000 in the week ended July 18, down from 209,000 in the previous week, according to the Labor Department on Thursday.
The release comes as oil prices spike Thursday, after Yemen's Tehran-backed Houthi militant group claimed attacks on two Saudi Arabian tankers in the Red Sea, adding to concerns of an escalating conflict in the Middle East.
"The outlook for economic growth is showing some signs of overheating if today's weekly jobless claims figures can be believed, but for how long is the question if energy prices continue to spiral upward," wrote ChrisRupkey, chief economist at FWDBONDS.
— Sarah Min
2 Hours Ago
European Central Bank holds interest rates steady
A visitor walks past a giant Euro sign inside the headquarters of the European Central Bank (ECB) in Frankfurt am Main, western Germany, on June 11, 2026, ahead of the bank's meeting on the Eurozone's monetary policy.
Kirill Kudryavtsev | Afp | Getty Images
The European Central Bank has voted to leave its main interest rate unchanged at 2.25%, in a move broadly in line with market expectations.
The ECB said it stands ready to adjust all of its interest rates to ensure that inflation stabilizes towards its 2% medium-term target. Eurozone inflation eased to 2.8% last month.
Ed Hutchings, head of developed market rates at Aviva Investors, said traders now expect a 0.25% hike in September, with inflationary pressure still the main priority for the central bank.
"Inflation expectations remain elevated and if sustained further, even tighter policy may well be needed," Hutchings said.
The hold comes after the ECB in June unveiled a quarter-point hike, its first rate rise since 2023, as inflationary pressures caused by the Iran war energy shock began to weigh on Europe's economy.
— Hugh Leask
2 Hours Ago
Lockheed Martin and Comcast rise after earnings
A booth showcasing aircraft designed by the world's largest global security, defense and aerospace company Lockheed Martin is seen during the 2024 Asian Defense and Security Exhibition in Pasay City, Metro Manila, the Philippines, on Sept. 25, 2024.
Daniel Craig | Anadolu | Getty Images
Shares of defense company Lockheed Martin were up more than 5% after it delivered an earnings and revenue beat in its second-quarter financial report.
Lockheed Martin also boosted its full-year guidance slightly, with both coming above consensus expectations, according to FactSet. Those rosier projections come from higher forecasts for sales across all of its segments, but in particular a jump in its aeronautics business.
Meanwhile, media and technology stock Comcast was up 0.5% after it also reported better-than-expected results for the second quarter. The company showed strength in its media and entertainment business, with streaming platform Peacock hitting profitability for the first time and revenue from the content and experience division rising 23% year-over-year.
However, Comcast again reported broadband customer losses as well as experienced declines again in its Cable TV subscriber business. Comcast revealed at the end of June it would split its media and cable business.
— Davis Giangiulio
2 Hours Ago
U.S. crude oil jumps above $90 after Red Sea tanker attacks
U.S. crude oil rose more than 4% to break $90 per barrel after Iran's Houthi allies said they attacked two Saudi oil tankers in the Red Sea.
Brent futures, the international benmark, traded nearly 5% higher $98.61.
The United Kingdom Maritime Trade Operations Centre said a tanker was struck by an unkown projectile off the coast of Al Shuhqaiq, Saudi Arabia. The attack caused a fire but no causalties have been reported.
The Houthis declared a maritime embargo against Saudi Arabia on Monday.
— Spencer Kimball
3 Hours Ago
Google gets hit with $1 billion fine by EU regulators
The Google headquarters in Mountain View, California, US, on Tuesday, July 21, 2026.
David Paul Morris | Bloomberg | Getty Images
European regulators have fined Google 890 million euros ($1 billion) alleging the company gives preferential treatment to its own services.
The fine is Google's first under the European Union's sweeping Digital Markets Act (DMA) which aims to scrutinize Big Tech's operating practices in Europe.
— Arjun Kharpal
4 Hours Ago
Here's the latest ahead of the opening bell on Wall Street
- U.S. stock futures slipped ahead of Thursday's opening bell, as Wall Street awaits another raft of earnings data.
- Oil prices jumped on Thursday, with front-month Brent crude futures briefly topping $98 a barrel before easing to around $97.80. U.S. West Texas Intermediate crude futures for August delivery were trading at above $90 per barrel.
- Tesla and Alphabet shares slumped in premarket trading after both firms signaled increased AI spending, unnerving investors worried about the mounting costs of the artificial intelligence boom.
- The European Central Bank is expected to keep interest rates on hold at its policy announcement later on Thursday, but traders will be watching for signs of a hawkish shift in tone from policymakers.
— Joseph Wilkins
5 Hours Ago
Tesla and Alphabet shares slump in premarket trading as AI spending concerns spook investors
Shares of Alphabet and Tesla fell in premarket trading on Thursday after both firms signalled increased AI spending, unnerving investors worried about the mounting costs of the artificial intelligence boom.
Alphabet shares were around 4% lower, while Tesla's stock fell over 5% in premarket trading after both companies reported negative free cash flow for the second quarter on Wednesday.
Management at both companies looked to calm investor fears over spending.
"This is a massive capex year. I'm confident that all the things that we're investing in will yield incredible returns. Really, maybe the best capex returns that we've ever seen," Tesla CEO Elon Musk said on the earnings call on Wednesday.
— Arjun Kharpal
5 Hours Ago
Oil tops $98 a barrel amid Middle East escalations
An oil transport truck drives past oil storage tanks at the Cushing crude oil storage terminal in Cushing, Oklahoma, US, on Thursday, June 18, 2026.
Nick Oxford | Bloomberg | Getty Images
Oil prices jumped on Thursday, with front-month Brent crude futures briefly topping $98 a barrel before easing to around $97.80.
U.S. West Texas Intermediate crude futures for August delivery were trading at around $89.22 per barrel.
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Oil futures
Both contracts were hovering at their highest levels since early June, with both Brent and WTI futures on course for their third-biggest monthly gains in 10 years.
It came amid escalating conflict in the Middle East, with overnight attacks on ships in the Red Sea signaling an expansion of the battleground.
— Chloe Taylor
5 Hours Ago
The key stocks moving in premarket trading from Tesla to SK Hynix
Several companies are moving in premarket trading on Thursday after a busy earnings day. Here are the biggest moves and why:
- SK Hynix' U.S. listed shares rose 5.3% in premarket trading after a report said it capped the number of its South Korea listed shared that can be converted into U.S. ADRs at 2.5% of total shares outstanding. The company made its debut on the Nasdaq on July 10.
- Tesla and Alphabet fell nearly 6% and 3.7%, respectively, after signalling increased AI spending which spooked investors.
- ServiceNow rose 7.2%, Molina fell 9.2%, and Rollins declined 14.7% after they all reported earnings on Wednesday.
- Swimming pool supplier Leslie's plunged 47% on reports that it's considering filing for a Chapter 11 bankruptcy.
— Sawdah Bhaimiya
6 Hours Ago
Treasury yields follow oil prices higher as traders await latest jobs data
An oil pumpjack operates in the Inglewood Oil Field on March 10, 2026 near Los Angeles, California.
Mario Tama | Getty Images
U.S. Treasury yields advanced on Wednesday, following oil prices higher, as traders await jobless claims data due later in the session.
The yield on the 10-year U.S. Treasury note — the key benchmark for U.S. government borrowing — was up more than 1 basis point to 4.675%.
The 2-year Treasury note yield, which more closely tracks short-term Federal Reserve interest rate policy, rose more than 1 basis point to 4.317%. The longer-dated 30-year Treasury bond yield was higher by more than 1 basis point to 5.161%.
Weekly jobless claims will be released at 8:30 a.m. ET on Thursday.
— Joseph Wilkins
6 Hours Ago
Defense boom lifts European stocks amid strong earnings; Dassault pops 8%
Shares of European defense champions Thales, Indra Group, and Dassault Aviation have jumped in early trading, as the continent's defense upcycle translated into another quarter of higher revenue and swelling order books.
Shares of French manufacturer of military aircraft and business jets, Dassault Aviation, rose as much as 10% in morning trading after it reported adjusted net sales rising 46% year-on-year to 4.2 billion euros ($4.8 billion) in the first half of 2026.
Thales and Indra stocks rose as much as 5% each after the companies reported half-year earnings early Thursday.
For Thales, Europe's biggest defense electronics group, sales grew nearly 8% year-on-year while order intake increased by 22%.
"Amid an increasingly uncertain geopolitical context, Thales' products and solutions underpinned by security, sovereignty and innovation once again demonstrate their relevance and appeal on a global scale," CEO Patrice Caine, said in a statement.
- Elsa Ohlen
6 Hours Ago
European Central Bank set to keep rates on hold — Traders watch for hawkish commentary
A visitor walks past a giant Euro sign inside the headquarters of the European Central Bank (ECB) in Frankfurt am Main, western Germany, on June 11, 2026, ahead of the bank's meeting on the Eurozone's monetary policy.
Kirill Kudryavtsev | Afp | Getty Images
The European Central Bank is expected to keep interest rates on hold at its policy announcement later on Thursday, but traders will be watching for signs of a hawkish shift in tone from policymakers.
"The ECB should keep the policy rate at 2.25%, but we do see a September hike as likely, especially as oil prices are moving higher again," Senior UK and euro zone rates strategist at ING Michiel Tukker said.
"One could argue for a front-loaded hike today, but over previous years the ECB has always fully telegraphed any policy moves in advance. And with no hikes priced in by markets, deviating from this strategy seems unlikely."
6 Hours Ago
U.K. 10-year gilt yield rises to 2-month high as Burnham slashes business rates and oil prices rise
The yield on the U.K. 10-year government bond rose 4 basis points to above 5% on Thursday as new prime minister Andy Burnham cut property taxes on hospitality venues, while oil prices rose 3% as tensions in the Middle East continue to escalate.
Burnham's 20% cut on business rates will cost roughly £100 million ($134 million) and aims to protect pubs, clubs and music venues from higher costs.
Yields were also higher across Europe as oil prices rose on Thursday after a tanker was struck by an unknown projectile off Saudi Arabia.
— Joseph Wilkins
7 Hours Ago
Hong Kong's Hang Seng advances 1%, Mainland China's CSI 300 ends higher
Mainland China and Hong Kong stocks rose Thursday, amid broad gains in Asian markets.
Hong Kong's Hang Seng index was up 1.02% in the last hour of its trade. The gains in Hang Seng were led by basic materials and industrials sectors, up 2.9% and 2.3%, respectively.
Mainland China's CSI 300 closed 0.23% higher at 4,728, with declines in real estate and tech capping gains.
— Justina Lee
6 Hours Ago
European stock markets tumble into the red
The pan-European Stoxx 600 was down 0.66% by 8:40 a.m. in London (3:40 a.m. E.T.) as the continent's regional sectors and major bourses tumbled into the red.
European energy stocks gained 0.94% as oil prices traded higher, and miners advanced 0.1%, while all other sectors retreated into negative territory.
The Italian FTSE MIB led losses among bourses, falling 1.24%. The French CAC 40 dropped 0.92%, as Germany's DAX fell 0.76%. The U.K. FTSE 100 was last seen 0.18% lower.
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— Hugh Leask
7 Hours Ago
South Korea's Kospi jumps over 4%, Japan's Nikkei also ends higher
South Korea's Kospi led gains in Asian markets on Thursday, ending the day at 4.40% higher at 7,096.89. Samsung and SK Hynix, which are Kospi heavyweights, rose 3.65% and over 4%, respectively.
Over in Japan, the Nikkei 225 closed 0.46% higher at 66,422.60, supported by financial stocks. Mitsubishi UFJ gained 2.24%, Mizuho Financial added 2.78% and Nomura gained 1.34%.
Australia's benchmark S&P/ASX 200 rose 0.18% higher to 8,839.
— Justina Lee
8 Hours Ago
European markets set to open Thursday’s trading in the red
A stock exchange trader in Frankfurt.
Boris Roessler | Picture Alliance | Getty Images
European stock markets are expected to open Thursday's session in largely negative territory.
Stoxx 50 futures were down 0.28% ahead of the start of trading.
The U.K. FTSE 100 was 0.18% lower, while in France, the CAC 40 was set to open 0.21% down, with Germany's DAX off some 0.43% lower.
The Italian FTSE MIB is set to start trading some 0.22% lower.
— Hugh Leask
8 Hours Ago
UniCredit eyes acquisition of Commerzbank in fourth quarter
UniCredit is aiming to acquire Commerzbank in the fourth quarter.
Speaking with CNBC's "Europe Early Edition," UniCredit CEO Andrea Orcel said the bank is happy with its position in Commerzbank, with the bank now closing in on full control of the German lender, having upped its stake to 48%.
Orcel said the Italian bank is firing on all cylinders, having raised its full-year guidance after posting its best-ever second-quarter and first-half results Thursday.
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VIDEO10:1010:10
UniCredit's Orcel: Commerzbank deal in best interest of both banks
An acquisition of Commerzbank could occur "potentially" in the fourth quarter, Orcel told CNBC's Carolin Roth.
He said that the two banks remain "very different," adding that a number of alignments need to occur before any full merger takes place.
UniCredit said the Commerzbank deal has evolved from "an attractive financial investment" to a "strategic transaction of substantial industrial value creation."
UniCredit's net profit for the second quarter reached 2.9 billion euros ($3.3 billion), and 6.3 billion euros for the first half. Its full-year net profit target has been upgraded to more than 11 billion euros.
— Hugh Leask
9 Hours Ago
Treasury yields little changed as Fed expected to keep rates intact
Treasury yields were little changed Thursday, as the probability of the U.S. Federal Reserve keeping rates intact in its meeting next week stayed high, though rate-hike bets have risen, according to the CME FedWatch tool.
The 10-year U.S. Treasury yield was flat at 4.661%. The yield on the 2-year Treasury note was also little changed at 4.304%.
— Justina Lee
12 Hours Ago
Oil climbs after tanker struck off Saudi Arabia, Trump Iran threats
A view of commercial cargo vessels and crude oil tankers are anchored in the Gulf of Oman, off the coast of Muscat, Oman, on June 21, 2026, as they prepare to transit through the critical Strait of Hormuz.
Shady Alassar | Anadolu | Getty Images
Oil prices rose on Thursday after a tanker was struck by an unknown projectile off Saudi Arabia and U.S. President Donald Trump threatened to bomb Iranian infrastructure in response to any attacks on ships transiting the Strait of Hormuz.
The United Kingdom Maritime Trade Operations on Thursday Asia time posted on social media platform X a tanker was hit by an unknown projectile in the Red Sea. The strike sparked a fire onboard that the crew was fighting, although there were no reported casualties.
Brent crude futures for September delivery gained 2% to $95.99 per barrel. U.S. West Texas Intermediate crude futures advanced around 1.7% to $88.27 per barrel.
— Lee Ying Shan
12 Hours Ago
Macquarie to promote banking and financial services head Greg Ward as next CEO
Macquarie Group announced Thursday that Greg Ward, currently head of banking and financial services, will succeed Shemara Wikramanayake as CEO in November.
A Macquarie veteran of three decades, Ward joined the firm in 1996 and was its global chief financial officer for 14 years, before taking on other roles in the company.
Wikramanayake will retire effective Nov. 6, after serving in the role for eight years.
Shares of Macquarie traded 0.87% higher Thursday.
— Jenny Lee
12 Hours Ago
Mainland China stocks are flat, Hong Kong shares slightly higher
Hong Kong and mainland China stocks were mixed, as investors continue to keep a close eye on developments in the Middle East, while focusing on the earnings season.
Hang Seng index was 0.31% higher, while mainland China's CSI 300 opened flat. Automakers will likely be in focus in the near term, following news that the U.S. Senate Commerce Committee had advanced a bipartisan legislation aimed at blocking Chinese-linked automakers and vehicle technology from the U.S.
— Justina Lee
13 Hours Ago
Samsung Electro-Mechanics shares jump 8% on $200-million contract
Shares of Samsung Electro-Mechanics jumped more than 8% in early trading Thursday after the company disclosed in a filing that it had signed a 295.12 billion won ($200 million) contract to supply multilayer ceramic capacitors.
Samsung Electro-Mechanics did not name the other party. The one-year contract represents 2.6% of the company's annual revenue and runs from Jan. 1 to Dec. 31, 2027.
—Jenny Lee
14 Hours Ago
Uber cuts 10% of jobs in customer service segment: Bloomberg
Signage outside Uber headquarters in San Francisco, California, US, on Monday, Feb. 2, 2026.
David Paul Morris | Bloomberg | Getty Images
Uber has cut 10% of jobs in its customer service segment, as part of a wider push to streamline its operations, according to Bloomberg.
The news follows reports that the food delivery and ride-hailing company is slashing 23% of jobs in its people division under the direction of President Jill Hazelbaker.
"Changes are necessary to maximize the effectiveness of the People team and the enormous potential ahead of us," according to an earlier memo by CEO Dara Khosrowshahi.
Uber's tech chief had said that the company exceeded its 2026 AI budget within four months, The Information had reported earlier.
— Justina Lee
14 Hours Ago
South Korea's Kospi leads gains as Asia markets open higher
Asia-Pacific markets opened higher Thursday, with Japan's Nikkei 225 adding 0.55% while the Topix rose 0.22%.
South Korea's Kospi advanced 2.3% at open, while the small-cap Kosdaq climbed 1.42%.
Australia's benchmark S&P/ASX 200 was 0.72% higher.
—Justina Lee
15 Hours Ago
Futures for Japan's Nikkei 225 trade 0.24% lower
Asia-Pacific markets were set to open subdued on Thursday, as investors keep an eye on Iran-U.S. tensions in the Middle East, while also focus on the earnings season.
Japan's Nikkei 225 was poised to rise, with the Chicago futures contract at 66,325, compared with the index's previous close of 66,115.60.
Hong Kong Hang Seng index futures were last at 24,997, higher than the index's Wednesday close of 24,892.66.
Futures for Australia's S&P/ASX 200′s last traded at 8,839, while the index closed at 8,823.
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Tensions continue to escalate in the Middle East, after President Donald Trump said every time Iran shoots at a ship in the Strait of Hormuz, the U.S. will blow up an Iranian bridge or power plant. Trump's comments come following the collapse of the Iran-U.S. ceasefire and the recent deaths of three American service members.
—Justina Lee
16 Hours Ago
Stocks making the biggest moves after hours
Here are the stocks making the biggest moves after hours:
- Rollins — The pest control company dropped about 10% after second quarter results fell short of Wall Street's expectations.
- Shutterstock – The image, footage and music platform dropped 10% post-market after suspending its quarterly dividend. Former CEO Paul Hennessy stepped down effective immediately July 13, two weeks after Getty Images walked away from a deal to buy Shutterstock.
- Medpace Holdings — The provider of outsourced clinical development services to healthcare customers soared about 19% after second-quarter results topped Wall Street analysts' consensus estimates.
For more, read our full list of movers here.
— Tanaya Macheel
16 Hours Ago
Stock futures open lower
U.S. equity futures opened lower on Wednesday night.
Futures tied to the Dow Jones Industrial Average dipped 5 points, or 0.01%. S&P 500 futures and Nasdaq 100 futures were down 0.07% and 0,14%, respectively.
— Tanaya Macheel
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