Thursday, March 26

Dow, S&P 500, Nasdaq slide as Wall Street weighs prospects for Iran truce


US stocks pulled back on Thursday as conflicting messages from the US and Iran fueled mounting uncertainty about the prospects for talks to end the Middle East conflict.

The S&P 500 (^GSPC) fell 0.8%, while the Dow Jones Industrial Average (^DJI) dropped 0.5%. The tech-heavy Nasdaq Composite (^IXIC) moved more than 1% lower on the heels of Wednesday’s rebound for Wall Street stocks.

Markets continue to be driven by the US-Israeli war with Iran, as Tehran and Tel Aviv launched fresh strikes on Thursday amid growing warnings about the economic cost of the conflict. With two days left of the US pause on Iran power plant strikes, the sides remain at odds over a potential ceasefire, and President Trump amped up his rhetoric on Thursday, warning Iran to “get serious” and make a deal before it is “too late.”

Brent crude futures (BZ=F) held above $100 as the mixed signals dampened earlier hopes for an imminent easing in hostilities. West Texas Intermediate (CL=F) crude moved above $94 before slightly pulling back.

Meanwhile, fears of a US recession are building as the oil rally threatens disruption and higher prices for already rattled consumers and markets assess how much weight the Federal Reserve will give the oil spike in its policy deliberations. Data from the Bureau of Labor Statistics published on Thursday morning showed 210,000 initial jobless claims, in line with expectations.

LIVE 9 updates

  • Jobless claims increase slightly

    US claims for unemployment benefits rose slightly in a sign that the labor market continues to hold steady.

    Initial jobless claims increased by 5,000 to 210,000 for the week ending March 21, the Labor Department reported Thursday. That was in line with economists’ expectations for 210,000 initial claims.

    Continuing claims, which track the unemployed population still seeking work, decreased to 1.82 million from a revised level of 1.85 million the week before. That was the lowest level for continuing claims since May 25, 2024, the Labor Department said.

    The data suggested little change to softened labor conditions, which have been marked by low job gains but not widespread layoffs in recent months.

  • Jake Conley

    US stock market turns down at the opening bell

    The US stock market turned red on Thursday as uncertainty surrounding the war in Iran continued to drive investor fears.

    The S&P 500 (^GSPC) slid by roughly 0.8%, while the Dow Jones Industrial Average (^DJI) fell a slimmer 0.4%. The tech-heavy Nasdaq Composite (^IXIC) moved roughly 1% lower.

    The war in Iran continues to drive markets, as each update from President Trump and subsequent responses from the Iranian leadership swing investor sentiment. Brent crude futures (BZ=F) held above $100 as the mixed signals dampened earlier hopes for an imminent easing in hostilities. West Texas Intermediate (CL=F) crude moved above $94 before slightly pulling back.

    Data from the Bureau of Labor Statistics published on Thursday morning showed 210,000 initial jobless claims, in line with expectations and slightly above last week’s 205,000 initial claims.

  • JetBlue considering a sale: Report

    JetBlue’s (JBLU) stock fell as much as 4% in premarket trading on Thursday after a 13% gain the day before.

    The airline is reportedly considering a sale and has asked advisers to evaluate how an acquisition by United Airlines (UAL), Alaska Airlines (AAL), or Southwest Airlines (LUV) would go over with regulators in Washington, Semafor reported on Wednesday. Those three airlines were down about 2% on Thursday.

    JetBlue, considered the sixth-largest airline in the US, has been working to turn around its business after its planned merger with Spirit Airlines fell through in 2024 when regulators blocked it on antitrust grounds.

    The airline has struggled with profitability as more cost-conscious travelers fly Frontier (ULCC) or Spirit Airlines, while Delta’s (DAL) and United’s premium offerings have drawn travelers at the higher end of the income scale.

  • Jenny McCall

    Premarket trending tickers: Olaplex, SSR Mining, Newmont, and AppLovin

    Olaplex (OLPX) stock soared 50% before the bell on Thursday, following the news that German company Henkel (HEN3.DE) will acquire the hair-care brand for around $1.4 billion.

    SSR Mining (SSRM) and Newmont (NEM) stocks fell roughly around 3% during premarket hours today. Mining stocks have suffered some volatility over recent weeks due to the war in Iran and the fluctuations in the price of gold (GC=F), which was down 2% today.

    AppLovin (APP) stock fell 7% before the bell on Thursday. So far this year, the mobile company’s shares have risen over 20%.

  • Fed’s Miran favors looking through oil price spike, says concern is about job market

    Yahoo Finance’s Jennifer Schonberger reports:

    Read more here.

  • Meta, Google risk Big Tobacco-like fallout after addiction trial

    A loss for (META) and Google’s YouTube (GOOG, GOOGL) in a high-profile trial over harms to children on their social media platforms may bring repercussions beyond the $6 million damages awarded.

    From Bloomberg:

    Read more here.

  • Google memory breakthrough prompts global chipmaker sell-off

    Bloomberg reports:

    Read more here.

  • BlackRock’s Kapito warns investors are mispricing Iran risks

    From Bloomberg:

    Read more here.

  • Super Micro Computer sued by shareholders over fraud

    Reuters reports:

    Read more here.



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