U.S. Markets Retreat Amid Geopolitical Tensions and Mixed Earnings

index Update
U.S. equities ended lower on Thursday, pausing the recent rally as escalating Middle East tensions and mixed corporate Earnings weighed on sentiment. The Nasdaq 100 declined 0.9%, while both the S&P 500 and Dow Jones fell 0.3%. A sharp rise in oil prices above $106 per barrel added further pressure. Technology stocks led the downside following disappointing results and cautious outlooks, with notable declines in Tesla, IBM, ServiceNow, Microsoft, and Oracle. In contrast, Texas Instruments surged after issuing stronger-than-expected guidance.

Market Movers
Among individual stocks, Skillz Inc. emerged as the top gainer, surging 238.32%, followed by Euda Health Holdings Limited, which rose 89.74%. On the downside, Avis Budget Group, Inc. fell 48.38%, while Grace Therapeutics, Inc. declined 45.48%, making them the biggest laggards of the session.

Commodities Update
Oil prices rallied sharply this week, with WTI trading above $95 and Brent above $105 per barrel, both on track for gains of approximately 16–17%. The surge was driven by Supply concerns stemming from stalled U.S.–Iran negotiations and the continued closure of the Strait of Hormuz, which disrupted shipments from key Middle Eastern producers. Escalating geopolitical tensions and prolonged ceasefire arrangements without a formal agreement further tightened global Supply conditions.
Meanwhile, precious metals moved lower, with gold holding below $4,700 per ounce (down around 3%) and silver near $75 (down nearly 7%). Rising energy prices heightened Inflation concerns and strengthened expectations of potential rate hikes, reducing the attractiveness of non-yielding Assets.

Macro Updates
Dollar Strengthens on Safe-Haven Demand
The dollar index hovered near 98.8, on track for its first weekly gain in three weeks, supported by safe-haven Demand amid persistent geopolitical tensions and rising energy prices. The Federal Reserve is widely expected to keep interest rates unchanged in the near term, as policymakers assess the broader economic implications of the ongoing conflict while maintaining a focus on Central Bank independence.

Bonds Commentary
The U.S. 10-year Treasury Yield climbed to around 4.33%, extending its gains for a fifth consecutive session. Elevated Inflation risks driven by higher energy prices and geopolitical uncertainty have supported yields, while the Fed is expected to remain cautious and hold rates steady in the near term.

Futures Update
U.S. stock futures were mixed on Friday, reflecting uncertainty in the markets as geopolitical tensions persist and optimism around a U.S.–Iran peace deal continues to fade. Dow futures edged lower, S&P 500 futures saw modest gains, and Nasdaq 100 futures outperformed with stronger upside.