S&P 500 Erases Losses as US, Iran Reportedly Discuss Hormuz Deal: Stock Market Today
The S&P 500 clawed back most of its morning decline at midday Thursday after sources told Reuters that U.S. and Iranian negotiators meeting in New York are discussing a phased deal that would have Tehran reopen the Strait of Hormuz in exchange for Washington lifting its economic blockade of Iran. The headlines took some of the edge off a session that had opened under pressure from a surge in Treasury yields. West Texas Intermediate crude whipsawed on the headlines, sinking as low as $91.23 a barrel intraday before bouncing back to trade up 1.6% at $93.62, as the unconfirmed nature of the talks limited the follow-through selling. Brent crude swung in a similar range, from a session low near $101.84 to $104.58, up 1.5%. The 10-year Treasury yield eased to 5.14%, up 3 basis points on the day, after topping 5.15% earlier in the session — still its highest level since 2007. The 2-year yield was little changed at 4.89%, while the 30-year added about 4 basis points to 5.44%. Traders on Polymarket continue to assign roughly 68% odds to a quarter-point Fed rate hike at the October meeting, largely unmoved by the Iran headlines as the bigger driver remains this week’s blowout PMI data and st
S. and Iranian negotiators meeting in New York are discussing a phased deal that would have Tehran reopen the Strait of Hormuz in exchange for Washington lifting its economic blockade of Iran. The headlines took some of the edge off a session that had opened under pressure from a surge in Treasury yields. 62, as the unconfirmed nature of the talks limited the follow-through selling.
5%. 15% earlier in the session — still its highest level since 2007. 44%. Traders on Polymarket continue to assign roughly 68% odds to a quarter-point Fed rate hike at the October meeting, largely unmoved by the Iran headlines as the bigger driver remains this week’s blowout PMI data and still-elevated inflation readings.
57. 95, as mega-cap tech mostly recovered. Within Magnificent Seven stocks, Meta Platforms, Inc. 3% after unveiling new VR glasses and monetization plans for its Muse AI agent.
90 an ounce. 1%. 2%. 1%.
2%. 0% as crude prices extended their advance. 7%. 0%.
5%, tracking the broader energy rally. 3%. Individual solar names were hit hard as rising borrowing costs weighed on project financing: First Solar, Inc. (NASDAQ: FSLR ) tumbled roughly 8%, SolarEdge Technologies, Inc.
(NASDAQ: SEDG ) dropped about 5%, and Enphase Energy, Inc. (NASDAQ: ENPH ) fell around 4%. In a notable single-stock move, Oracle Corp. 5% after issuing a force majeure notice for its New Mexico data center project, raising fresh questions about the pace of AI infrastructure buildout.
On the upside, Everpure, Inc. 1% as forced index-fund buying tied to its promotion into the S&P 500 combined with Street expectations for an earnings beat. Charles River Laboratories International, Inc. 6% after issuing an upbeat 2026 outlook at its investor day, and Valero Energy Corp.
1% as refining margins hit records alongside surging diesel prices. GoDaddy Inc. 5% after the Financial Times reported that Gen Digital Inc. 2% on financing and dilution concerns.
35 billion. On the downside, Viking Therapeutics, Inc. 2% after pricing an upsized $500 million offering of common stock and convertible senior notes, diluting existing shareholders. 6 million free-cash-flow outflow tied to AI-server inventory build overshadowed the top-line strength.
5% after Barry Diller’s People Inc. 30 a share, with Diller saying “the mix was [not] coming together” as hoped. Aurora Innovation, Inc. 5% in a classic sell-the-news reaction to its analyst and investor day, where operational milestones failed to clear already-elevated expectations.
Thursday’s Russell 1000 Top Gainers Name % change Everpure, Inc. 06% Charles River Laboratories International, Inc. 05% GoDaddy Inc. 47% Thursday’s Russell 1000 Top Losers Name % change Viking Therapeutics, Inc.
50% Aurora Innovation, Inc. 47% Gen Digital Inc. 22% Photo: Shutterstock