As of today, the S&P 500 Index is down 0.35%, the Dow Jones Industrial Average is down 0.11%, and the Nasdaq 100 Index has decreased by 0.51%. Contributing to this market pressure, WTI crude oil prices surged over 2% following a statement from Iran’s Supreme Leader regarding enriched uranium, amid rising tensions in the region that could disrupt energy supplies. The 10-year Treasury yield has risen by 4 basis points to 4.61%.
Key economic indicators show mixed signals: U.S. initial unemployment claims fell by 3,000 to 209,000, aligning closely with expectations. Meanwhile, April housing starts declined 2.8% to 1.465 million, though building permits rose 5.8% to 1.442 million. The May Philadelphia Fed business outlook survey dropped to a five-month low of -0.4, significantly below expectations.
Nvidia’s earnings, released Wednesday, exceeded expectations, yet the stock is down more than 1%. Conversely, Rigetti Computing surged over 24% after securing potential $100 million funding from the U.S. Department of Commerce. Across global markets, the Euro Stoxx 50 is down 0.02%, while Japan’s Nikkei closed up 3.14%.
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