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US Equity Markets End Higher Amid Gains in Technology Stocks, US Attacks on Iran

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US equity indexes closed higher Thursday after technology stocks saw big gains and the US continued to attack targets in Iran to fully reopen the Strait of Hormuz.

* US Central Command overnight hit 90 Iranian military targets, according to its social media post on X, after striking 80 on the previous night following Iran's attacks on three commercial ships transiting the Strait of Hormuz

* US initial jobless claims fell sequentially to 215,000 in the week ended July 4 from an upwardly revised 217,000, compared with expectations for 217,000 in a Bloomberg-compiled survey. The four-week moving average declined by 3,750 to 218,750.

* August West Texas Intermediate crude oil fell $1.65 to settle at $71.87 per barrel, while September Brent crude, the global benchmark, was last seen down $1.93 at $76.09.

* Sandisk (SNDK) shares were up 7.6%, among the top gainers on the S&P 500 and Nasdaq, after Wedbush raised its price target for the company's shares to $2,000 from $1,200 while keeping its outperform rating.

* Paramount's (PSKY) $110 billion acquisition of Warner Bros. Discovery (WBD) could face lawsuits from US states to block the deal as soon as next week, Reuters reported, citing two sources familiar with the matter. Shares of Paramount dropped about 4.3%, the second-worst performer on the S&P 500.

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Update: US Equity Indexes Mixed as Trump's Threats to Strike Iran Unlikely to Escalate Into Full-Scale War

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Update: US Equity Indexes Slide, Crude Oil Surges After Trump Threatens More Strikes on Iran

(Updates with index/price moves and political news from the first paragraph.)US equity indexes slumped while volatility surged with crude oil and government bond yields after President Donald Trump warned of more strikes on Iran after saying a peace deal signed in June "is over"The Dow Jones Industrial Average dropped 1.5% to 52,107.8, with the Nasdaq Composite down 1% to 25,572.5, and the S&P 500 lower by 1% to 7,434.1 after midday Wednesday.Energy was the standout gainer, with Valero Energy (VLO), Occidental Petroleum (OXY), and Phillips 66 (PSX) leading the S&P 500. Chevron (CVX) was the Dow's top gainer. On Nasdaq, the top spot went to Baker Hughes (BKR).The CBOE Volatility Index jumped 13% to 18.18 after Trump said, per a Bloomberg report, the US would probably launch further strikes on Iran and could resume a blockade on the country's ports."We hit them very hard last night," Trump said Wednesday on the sidelines of a summit of the North Atlantic Treaty Organization leaders in Ankara, Turkey. "Probably hit them hard again tonight."The front-month global benchmark North Sea Brent soared 7% to $79.37 a barrel, and the US West Texas Intermediate surged 6.9% to $75.29 a barrel.US Treasury yields rose, with the two-year yield jumping 5.8 basis points to $4.22% and the 10-year climbing 6.2 basis points to 4.59%.

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