Stock Market Today: Dow Pares Losses On Hormuz News, But Oil Holds Gains; Ciena, Lumentum Surge (Live Coverage)
Dow recovers losses amid geopolitical tensions
The stock market experienced volatility on Thursday, with the Dow Jones Industrial Average and other major indexes initially declining after President Trump's speech on the Iran conflict. However, the market rebounded as reports emerged that Iran is working with Oman to manage traffic through the Strait of Hormuz, easing some geopolitical concerns. Tesla's stock took a hit after the company reported first-quarter deliveries that missed estimates, contributing to the day's mixed performance in the markets.
Key Takeaways
- 1.
Tesla's first-quarter deliveries fell short of estimates at 358,000 vehicles.
- 2.
West Texas Intermediate crude prices surged over 10%, exceeding $110 per barrel.
- 3.
The Russell 2000 index showed resilience, gaining 0.5% in late-morning trading.
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