Major stock indexes tumbled Thursday as oil prices continued their ascent, with the International Energy Agency noting the Middle East war was “creating the largest supply disruption in the history of the global oil market” and Iran’s new Supreme Leader saying the Strait of Hormuz should remain closed.
The tech-heavy Nasdaq, blue-chip Dow Jones Industrial Average, and benchmark S&P 500, sank a respective 1.4%, 1.2%, and 1.2% in recent trading, with the Dow shedding 550 points.
Yesterday, the major indexes ended mostly lower, while oil rose even though the IEA decided to release a record 400 million barrels of strategic reserves to stabilize prices. Early Thursday, the agency said it now sees global supplies growing by 1.1 million barrels a day in 2026, down sharply from its prior forecast of 2.4 million barrels a day.
West Texas Intermediate crude futures, the U.S. oil-price benchmark, surged 7.5% further to $94 a barrel. Prices were aided by comments from Iran’s new Supreme Leader, Mojtaba Khamenei, that transit through the important Strait of Hormuz should continue being halted “to pressure the enemy.”
The yield on the 10-year Treasury note, which affects interest rates on all sorts of consumer loans, ticked higher to to 4.25%—its highest intraday level since early February—from Wednesday’s close at 4.23%.
Gold futures fell less than 1% to $5,140 an ounce, while silver futures edged higher to $85.65 an ounce. The U.S. Dollar Index, which tracks the value of the greenback against a basket of currencies, was up 0.4% to 99.63. Bitcoin was trading around $70,500, down slightly on the day.
“Uncertainty surrounding both energy supply and potential military escalation has left macro markets in a wait-and-see phase where policy and geopolitical risks intersect,” Bitunix analyst Dean Chen wrote.
In corporate news, shares of all the Magnificent Seven tech giants but Microsoft (MSFT) were lower. They ended mixed yesterday, with Tesla (TSLA) the biggest riser at 2.2%.
U.S.-listed shares of Honda Motor (HMC) dropped 5.5% after it said it expects expenses and losses related to the reassessment of its EV strategy will be up to 2.500 trillion yen ($15.75 billion), and now sees a net loss for this fiscal year instead of a profit.
In post-earnings moves, shares of Petco Health & Wellness (WOOF) surged 30%, Dick’s Sporting Goods (DKS) rose 1.5%, UiPath (PATH) fell 7.5%, and Dollar General (DG) stock pulled back 3.5%. Shares of Adobe (ADBE), which was slated to report after markets close, were down 1.5%.
McDonald’s Plans New $3 Menu, In Latest Bid to Win Customers With Better Deals
FROM 6 minutes ago
McDonald’s is intensifying its focus on value with plans for a new menu.
The fast-food giant could be set to launch a $3 and under menu next month, as well as a range of $4 breakfast combos, The Wall Street Journal reported Wednesday.
The $3 and under menu could include the fast-food chain’s popular four-piece chicken McNuggets, its sausage biscuit, and other items, the report said, while the breakfast deal could feature options such as a McMuffin, hash brown, and coffee for $4.
Zak Bennett / Bloomberg / Getty Images
McDonald’s did not respond to an Investopedia request for comment in time for publication.
Read the full article here.
Energy, Utilities Sectors Lead S&P 500 on Down Day
FROM 31 minutes ago
The S&P 500 is down more than 1% on a dismal day of trading, but not every industry is struggling.
The S&P 500 Energy and Utilities Sectors are up a respective 1.8% and 1.4% in recent trading.
Just three of the 11 industries tracked by the benchmark index are in the green, with Consumer Staples ticking 0.1% higher.
Six of the eight sectors in the red are down at least 1%, with Industrials the biggest decliner at 1.9%.
Honda Becomes Latest Automaker to Project Massive Hit in Pivot Away From EVs
FROM 1 hr 40 min ago
Another auto giant is pivoting away from electric vehicles amid a number of changes in the U.S. market.
This time it’s Honda Motor Company (HMC), whose U.S.-listed shares sank this morning after the Japanese automaker told investors it’s pivoting away from electric vehicles, and expects to take a big hit while doing so. The move follows similar announcements in recent months from other automakers, including Stellantis (STLA), Ford (F), and General Motors (GM).
Emily Elconin / Bloomberg / Getty Images
Honda said Thursday that it expects to take on charges of up to 2.5 trillion Japanese yen ($15.75 billion) in its fiscal year ending March 31 as part of the transition. Honda cited the expiration of EV tax credits in the U.S. and President Trump’s tariffs as factors in the decision, as they have made it much more difficult to sell cars profitably in the U.S.
Read the full article here.
Fertilizer Stocks CF Industries, Mosaic Continue Surge Amid Iran War
FROM 3 hr 2 min ago
Shares of fertilizer producers CF Industries Holdings (CF) and Mosaic (MOS) continue to rise since fighting broke out in the Middle East.
CF Industries shares rose nearly 7% to a fresh all-time high Thursday morning, while those of Mosaic added 5%.
Fertilizer manufacturers stand to benefit from rising prices due to the halting of traffic through the Strait of Hormuz, with The Fertilizer Institute noting that nearly 50% of global urea exports and global sulfur exports originate from countries west of the Strait and transit through it.
CF Industries shares are up about 65% year-to-date, while those of Mosaic are about 27% higher, with gains accelerating since the U.S. and Israel attacked Iran on Feb. 28 and Iran essentially closed traffic through the Strait of Hormuz.
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A New Study Says Americans Are Embracing ‘Financial Nihilism’ as They Try to Keep Up. Here’s What That Means
FROM 3 hr 25 min ago
The stock market has reached record highs this year—but some Americans think they’ll need to supercharge their portfolio with risk to meet their financial aims.
Nearly three-quarters of Americans who felt financially behind expressed feeling “financial nihilism,” according to a Northwestern Mutual survey of more than 4,300 adults. The term, the company said, refers to the belief that particularly high-risk moves—including cryptocurrency, betting and prediction markets—can better help them reach their goals than more traditional methods, like index and target-date funds.
Americans have in recent years faced a slowing labor market, rising higher education costs, and a competitive housing market, factors that may be influencing their relationship with money. Gen Z, the oldest who are 29, and Millennials were the most likely to feel this way, according to Northwestern Mutual.
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“When people feel behind, they often look for shortcuts,” said John Roberts, a chief field officer at Northwestern Mutual, in a press release. “But building financial security is rarely about cutting corners. It’s about consistency, discipline, and protection.”
In the survey, more than one-third of Gen Zers and Millennials said they had or were considering investing in cryptocurrency this year. Nearly a third of Gen Zers expressed a similar interest in sports betting and prediction markets.
Read the full article here.
From Eggs to Coffee: The Price Surprises Hiding in February’s CPI Report
FROM 4 hr 26 min ago
The February Consumer Price Index (CPI) report was released Wednesday, showing overall prices rose 2.4% from a year earlier—the same annual pace as January.
But that steady headline number masks significant variation beneath the surface. Even as overall inflation has cooled, price changes across categories are far from uniform, with some falling sharply while others continue to rise.
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For consumers weary of continually rising prices, there’s some good news in the February CPI report. While inflation remains elevated compared with the Federal Reserve’s target of 2%, several everyday categories actually cost less now than they did a year ago—and in a few cases, much less.
Read the full article here.
Firefly Aerospace Stock Soars on Successful Mission Launch
FROM 5 hr 11 min ago
Firefly Aerospace (FLY) stock has tumbled since the space and defense technology firm went public last August. It looks like it will chip away at losses when markets open today.
Shares of Firefly Aerospace soared 12% before the bell Thursday, a day after the Cedar Park, Texas-based company announced it had successfully launched its Alpha Flight 7 Stairway to Seven mission from California’s Vandenberg Space Force Base.
“Alpha Flight 7 was flawlessly executed with all mission requirements completed, further proving the resiliency, innovation, and passion of the Firefly team,” Firefly Aerospace CEO Jason Kim said. “Over the last several months, we took a hard look at our processes across engineering, production, test, integration, and operations and invested the time required to make a series of improvements to ensure a higher level of quality and reliability in every Alpha we deliver and launch as we move to our Block II upgrade.”
Firefly Aerospace shares entered Thursday having lost nearly two-thirds of their value since the company’s initial public offering.
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War Could Push Up More Than Just Gas Prices
FROM 5 hr 36 min ago
You’ve seen the war-related surge in prices at the gas pump—expect to see price increases just about everywhere else before too long.
The 60-cent-per-gallon jump in gasoline prices since the war began is just the beginning, economists warned this week.
The war in Iran has restricted sea traffic through the critical Strait of Hormuz, choking off about 20% of the world’s oil supply and causing prices to spike. That’s translated into higher gas and, especially, diesel fuel costs. Diesel was $4.81 a gallon Wednesday, up $1.07 since March 1, Patrick DeHaan, head of petroleum analysis at Gasbuddy, posted on social media.
Lindsey Nicholson / UCG / Universal Images Group via Getty Images
A surge in fuel prices isn’t just a surge in fuel prices. It can push up costs for everything that’s delivered by truck or uses vehicles and machinery, which, in the U.S., is just about everything.
Read the full article here.
How the Iran War Could Affect Your Summer Airfare: What You Need to Know and When to Book
FROM 5 hr 36 min ago
Book your summer flights now. That’s the advice of travel experts watching the cascading effects on airline fares from the Iran war.
Jet fuel has climbed more than a third above its prewar price, and airlines are already repricing summer routes in real time.1 United Airlines (UAL) CEO Scott Kirby warned the hit to ticket prices would “probably start quick.”2 Airfares were already increasing before hostilities began, jumping 6.5% in January alone.3 Now carriers are layering on fuel surcharges for international routes and hiking business-class fares first, knowing those travelers won’t blink.
The summer booking window you’d normally wait for—that 15-to-45-day sweet spot before departure—is probably too late this year, travel experts warn. Waiting is a gamble not just on unpredictable events in the Middle East but that airlines will lower prices they’re likely to raise in the meantime.
Read the full article here.
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Here’s How Much Adobe Stock Is Expected to Move After Earnings
FROM 6 hr 26 min ago
Adobe is set to report earnings after the market closes Thursday, with traders anticipating a big move from the Photoshop maker’s stock following the results.
Based on current options pricing, traders expect Adobe (ADBE) stock could move up to 7% in either direction by the end of the week. A move of that size from Wednesday’s close could lift the stock close to $293, recovering some of its recent losses. The low end of that range could drag the stock below $255.
Adobe shares have lost about a fifth of their value since the year began, amid a broader pullback in software stocks on concerns about disruption from AI. Oppenheimer analysts downgraded Adobe’s stock in January, saying it exemplifies many of the major challenges facing the application software industry.
Smith Collection / Gado / Getty Images
Jefferies analysts warned ahead of the results that they don’t see many catalysts appearing in the near term, and that Adobe could continue to face pressure from growing competition.
Adobe is projected to report adjusted earnings per share of $5.87 on a 10% year-over-year jump in revenue to $6.28 billion for it fiscal first quarter, according to estimates collected by Visible Alpha.
Wall Street analysts are divided on the stock. Of the 12 analysts with current ratings tracked by Visible Alpha, just five recommend buying the shares, compared to four neutral and three “sell” ratings. Still, their average price target of $368 would suggest nearly 35% upside from Wednesday’s close.
Stock Futures Fall as Oil Prices Extend Surge
FROM 6 hr 50 min ago
Futures contracts connected to the Dow Jones Industrial Average were down 0.5%.
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S&P 500 futures were 0.4% lower.
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Nasdaq 100 futures also pointed down 0.4%.
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