US equity indexes traded mixed at midday Thursday as investors weighed mega-cap corporate earnings and a warning shot from Iran's new supreme leader amid declining crude oil prices after midday Thursday.
The Dow Jones Industrial Average jumped 1.5% to 49,591.6, with the S&P 500 up 0.5% to 7,169.1. The Nasdaq Composite was slightly down at 24,673.1. All sectors except technology and consumer discretionary rose. Industrials, health and communication services led the gainers.
Alphabet's (GOOG, GOOGL) shares jumped 7%, among the leaders on the Nasdaq, after the company overnight reported higher Q1 earnings and revenue that topped market expectations. Meta Platforms' (META) shares sank 9%, among the worst performers on the S&P 500 and the Nasdaq, after the company overnight raised its forecast for 2026 capital expenditures, overshadowing its Q1 earnings and revenue beat.
Meanwhile, US President Donald Trump will hear about updated military options for Iran from Pentagon officials Thursday, as a possible way of forcing Tehran into an agreement, CNN reported. Trump's current strategy is to inflict economic pain on Iran.
Iran's new supreme leader gave a rare statement Thursday, vowing not to give up the country's nuclear or missile technologies and signaling Tehran would keep control of the Strait of Hormuz, Bloomberg reported.
In economic news, the core personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge, rose to 3.2% year-on-year in March from 3%, meeting expectations. It climbed 0.3% month-over-month, down from the 0.4% reported in February.