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Update: US Equity Indexes Trade Mixed Amid Declining Crude Oil, Treasury Yields

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(Updates with index/price moves, macroeconomic data and company/geopolitical news from the first paragraph.)

US equity indexes were mixed as a retreat in crude oil and government bond yields accompanied an all-sector rally midday Friday.

The Dow Jones Industrial Average climbed 0.5% to 51,970.5, and the S&P 500 rose 0.4% to 7,434.8. The Nasdaq Composite was 0.1% lower at 25,112.3. Real estate, materials, and communication services topped the gainers.

The front-month US West Texas Intermediate dropped 3.6% to $88.89 a barrel, and global benchmark North Sea Brent slumped 4.3% to $96.34 a barrel.

The retreat has come as a relief from a surge Thursday when the Iran-aligned Houthi rebels attacked two Saudi Arabian tankers in the Red Sea chokepoint. Separately, President Donald Trump warned of a "massive attack" to continue degrading Iran's ability to attack maritime traffic in the Strait of Hormuz. The US Central Command said it completed the 13th consecutive night of strikes on Iran Thursday evening, in line with that strategic goal as well as returning Iran to negotiations in a meaningful way.

The latest jump in oil prices is likely to be short-lived, a Dow Jones news report cited a Julius Baer note, referring to Brent crude surpassing the $100 mark Thursday for the first time since the US-Iran ceasefire agreement in June. Despite fresh attacks on tankers in the Red Sea and the Strait of Hormuz, the renewed fighting appears to reflect efforts by the parties to strengthen their bargaining positions ahead of another round of negotiations, the news report cited the note.

Recent data showed China's oil imports during H1 slumped 11% year-on-year to 9.9 million barrels per day, according to a report from the Middle East Economic Survey. Imports from the Middle East sank by 37% to 3 million bpd, the lowest level since 2007, MEES said.

Most US Treasury yields fell as a decline in crude oil helped keep a lid on inflation worries. The 10-year declined 3.8 basis points to 4.67%, retreating from its highest seen in a year on Thursday. The two-year declined 4.2 basis points to 4.32%, after yields hit fresh 52-week highs twice this week.

In precious metal markets, gold futures edged up 0.5% to $4,069.2, and silver futures jumped 1.5% to $58.92.

In company news, Digital Realty Trust (DLR) reported Q2 core funds from operations and operating revenue above market expectations late Thursday, and the company also raised its 2026 core FFO and sales guidance. Shares of the firm climbed nearly 14%, the top gainer on the S&P 500.

American Express (AXP) Q2 earnings topped market estimates, while revenue missed expectations. Shares dropped 5.3%, the steepest decliner on the Dow.

In economic news, the July flash reading of manufacturing conditions from S&P Global slipped to 53.8 from 53.9 in June, compared with the 54.4 print expected in a survey compiled by Bloomberg.

New-home sales rose to a 628,000 annual rate in June from an upwardly revised 618,000 rate in May, compared with the 607,000 rate expected in a survey compiled by Bloomberg. Home sales were still down 5.6% from a year ago.

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Update: US Equity Indexes Slump, Crude Oil Soars as Trump Warns of Big Iran Attack

(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes dropped as government bond yields jumped to the highest in a year and crude oil surged after President Donald Trump warned of a major operation in Iran.The Nasdaq Composite slumped 2.2% to 25,137.69, the S&P 500 dropped 1.2% to 7,408.30, and the Dow Jones Industrial Average declined 1% to 51,711.65 on Thursday. Consumer discretionary and communication services were the standout decliners, down more than 5% each, while technology also lagged. Industrials and health care topped the gainers.President Donald Trump is considering restarting major combat operations in Iran, including strikes bigger than the ones seen in Operation Epic Fury, according to an Axios report. "I am considering a massive attack. Bigger than ever before. I am close to making a decision. We are all set for it," the president said.Yemen's Houthi rebels said they attacked two Saudi Arabian oil tankers in the Red Sea on Thursday to disrupt Middle East exports, according to a report from the Associated Press. If Houthis attack again, "the U.S. will hold Iran responsible, in that the Houthis are a Surrogate and/or Proxy of Iran, and major military punishment will be inflicted upon Iran and, of course, the Houthis themselves," Trump said in a Truth Social post.The CBOE Volatility Index VIX, also known as the fear gauge for equities, shot up 12% to 18.70.The front-month US West Texas Intermediate soared 6.1% to $92.13 a barrel, and global benchmark North Sea Brent spiked 6.5% to $100.19 a barrel.In precious metal markets, gold futures dropped 2.4% to $4,052.20, and silver futures slumped 4% to $57.91, reflecting concerns that an extended disruption to crude oil supplies may make it more challenging for the Federal Reserve to bring inflation down to its 2% target.US Treasury yields jumped, extending gains. The 10-year marched 3.8 basis points higher to 4.70% after touching its highest intraday level in a year. The two-year surged 4.7 basis points to 4.35% after yields hit a fresh 52-week high this week.In economic news, initial jobless claims fell 22,000 to 187,000 in the week ended July 18, the lowest since 1969 and trimming the four-week moving average by 7,250 to 207,500, a fourth straight decrease.In company news, Tesla (TSLA) shares fell 14.5%, the worst performer in the S&P 500 and the Nasdaq, after the firm reported a steeper-than-expected drop in Q2 adjusted earnings.The European Commission fined Alphabet's (GOOG, GOOGL) Google 890 million euros ($1.04 billion) for violating the Digital Markets Act by self-preferencing in Google Search and anti-steering practices on Google Play. Shares slumped 7.1%, among the steepest decliners on the S&P 500, the Nasdaq, and the Dow.After the bell, Intel (INTC) reported fiscal Q2 adjusted earnings of $0.42 per share, swinging from a loss of $0.10 a year earlier. Analysts polled by FactSet expected earnings of $0.22. Revenue for the three months ended June 27 jumped to $16.13 billion from $12.86 billion a year earlier. Analysts expected $14.44 billion.

Dow JonesNasdaq CompositeS&P 500$GOOG$GOOGL$INTC$TSLA
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Exchange-Traded Funds Lower as US Equities Decline After Midday

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Dow Jones^EEM^EXI^FAS^FAZ^GLD^IBB^IGM^IGV^IPK^IVV^IWMNasdaq Composite^IYE^IYH^IYJ^IYK^IYW^PMR^QQQ^RTH^SOXXS&P 500^SPY^UNG^USO^VDC^VHT^VIS^XLE^XLF^XLI^XLK^XLP^XLV^XRT^XSD$BETH$BITO$EETH
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Update: US Equity Indexes Sink as Houthis Target Saudi Tankers in Red Sea, Mag-7 Stalwarts Disappoint

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