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Stock market today: S&P 500, Dow, Nasdaq fall as tech sector pulls back, US-Iran truce in focus


US stocks fell on Thursday, erasing opening gains as Big Tech stocks pulled back and investors watched for progress on a second round of talks to extend the Middle East ceasefire.

The tech-heavy Nasdaq Composite (^IXIC) and Dow Jones Industrial Average (^DJI) both lost roughly 0.2% less than an hour after starting the session higher. The S&P 500 (^GSPC) shed about 0.1% after a strong session on Wednesday that pushed the broad benchmark above 7,000 for the first time.

In the Middle East, the US and Iran are reportedly in indirect discussions to prolong the two-week ceasefire set to expire on April 22, with both sides said to be in favor of an extension. The US is still “very much engaged in these negotiations,” Karoline Levitt, the White House press secretary, said on Wednesday.

In the tech sector, the largest companies in the S&P 500 spent the morning turning into the red. The Roundhill Magnificent Seven ETF (MAGS), which tracks the performance of the so-called Magnificent Seven stocks, lost 0.6% on Wednesday.

On deck is a fresh batch of corporate earnings, with highlight Netflix (NFLX) scheduled to report after the closing bell on Thursday. Taiwan Semiconductor Manufacturing Company (TSM) and PepsiCo (PEP) beat expectations on both earnings per share and revenue, while Charles Schwab (SCHW) earnings topped estimates but undershot on revenue.

On the economic data front, initial jobless claims fell to 207,000 in the week ended April 11, according to Department of Labor data released Wednesday.

Meanwhile, industrial production slowed 0.5% in March, missing estimates of 0.1% growth. In the previous two months, manufacturing output showed signs of recovery from Trump’s tariffs. But the surge in oil prices amid the Iran war could hamper growth.

LIVE 9 updates

  • US stocks tick up at the opening bell

    US edged up at the opening bell on Thursday after Wednesday saw the S&P 500 cross over 7,000 for the first time.

    The Dow Jones Industrial Average (^DJI) led gains with an advance of roughly 0.4%, while the S&P 500 (^GSPC) gained roughly 0.2%. Meanwhile, the tech-heavy Nasdaq Composite (^IXIC) hovered just above the flatline.

    Investors are watching for signs of progress between the US and Iran on the war in the Middle East, with the two sides now reportedly in indirect discussions to prolong the two-week ceasefire set to expire on April 22.

    Taiwan Semiconductor Manufacturing Company (TSM) and PepsiCo (PEP) beat on both the top and bottom lines, while Charles Schwab (SCHW) reported above expectations on earnings but fell below revenue estimates. Standout Netflix (NFLX) is set to report after the closing bell.

    Initial jobless claims fell to 207,000 in the week ended April 11, according to Department of Labor data released Wednesday.

  • Jake Conley

    Initial jobless claims fall in sign of low-hire, low-fire labor market

    Initial jobless claims fell to 207,000 in the week ended April 11, according to data released by the Department of Labor on Thursday, coming in below the previous week’s revised tally of 218,000 claims.

    Economists had expected initial claims of 213,000 for the week, according to consensus estimates compiled by Bloomberg.

    The falling unemployment claims came after the Federal Reserve released its Beige Book, which is published eight times per year. Most districts, the Fed wrote, “described labor demand as stable, with low turnover, minimal layoffs, and hiring mostly for replacement.”

    Continuing claims, which track the unemployed population still seeking work, rose to 1.82 million for the week ended April 4, above economists’ expectations of 1.81 million and the previous week’s 1.79 million.

  • We’re in our ‘Long Island AI’ era as shoe brand Allbirds goes full AI

    What Allbirds is doing is not all that different from Big Tech’s embarrassing, conformist, trend-jacking turn to AI not that long ago.

    Yahoo Finance’s Hamza Shaban writes:

    Read more here in today’s takeaway from the Morning Brief.

  • The S&P 500 just flashed a rare bullish signal — with a dot-com catch: Chart of the Day

    The S&P 500 (^GSPC) just pulled off a rare sprint, notes Yahoo Finance’s Jared Blikre.

    He writes:

    Read more here.

  • US and Iran weigh truce extension with Hormuz still shuttered

    From Bloomberg:

    The US and Iran are considering a two-week ceasefire extension to allow more time to negotiate a peace deal, according to a person familiar with the matter, reducing the risk of renewed fighting despite an intensifying standoff over the Strait of Hormuz.

    With the initial truce due to expire next week, mediators are seeking technical talks to overcome the most contentious issues preventing a longer-term agreement, said the person, who asked not to be identified discussing sensitive matters. Those include reopening Hormuz and the future of Iran’s nuclear program.

    Tensions remain high over the strait, a critical waterway for oil and gas that’s been effectively shuttered since the start of the war almost seven weeks ago. The US has set up a naval blockade to cut off Iranian shipments, and said Wednesday that 10 vessels have been forced to turn around. Tehran is keeping the strait closed to most other traffic.

    … The US hasn’t “formally requested an extension of the ceasefire,” White House Press Secretary Karoline Leavitt told reporters Wednesday. But she acknowledged “we remain very much engaged in these negotiations.”

    The US is sending thousands of additional troops to the Middle East in the coming days to pressure Tehran into making a deal or to prepare for strikes if the ceasefire ends, the Washington Post reported, citing current and former officials it didn’t name.

    Read more here.

  • Japan’s Nikkei closes at record high, wiping out Iran war losses

    Japan’s Nikkei 225 Stock Average (^N225) ended Thursday’s session at a new record high, erasing its losses from the Iran war amid optimism that new peace talks could speed an end to the conflict.

    Bloomberg reports:

    Read more here.

  • CATL, worlds largest EV battery shares jump as markets pivot

    Bloomberg reports:

    Read more here.

  • Oil holds as potential peace talks provide stability

    Bloomberg reports:

    Read more here.

  • TSMC on track for fourth quarter of record earnings

    Reuters reports:

    Read more here.



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Tags :Big TechDow Jones Industrial AverageIranKaroline LevittNASDAQ CompositeTaiwan Semiconductor Manufacturing Company
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