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US Equity Markets Fall After Oil Prices Rise Amid Strait of Hormuz Deadlock

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US equity indexes closed lower on Thursday as oil prices rose amid the US-Iran deadlock on the reopening of the Strait of Hormuz.

* President Donald Trump said Thursday on Truth Social that he has ordered the US Navy to "shoot and kill" any boat that is laying mines in the Strait of Hormuz, the choke point for about a fifth of global crude oil flows.

* US initial jobless claims rose to 214,000 in the week ended April 18 from an upwardly revised 208,000, compared with the 210,000 print expected in a Bloomberg-compiled survey.

* May West Texas Intermediate crude oil rose $3.44 to settle at $96.38 per barrel, while June Brent crude, the global benchmark, was last seen up $3.79 at $105.70.

* United Rentals (URI) shares were up roughly 23%, the top gainer on the S&P 500, after the company reported higher Q1 adjusted earnings and revenue and lifted its 2026 sales guidance.

* ServiceNow (NOW) shares were down nearly 18% after the company reported strong Q1 results, but softer organic revenue trends and a slightly weaker margin outlook weighed on its overall forecast, Oppenheimer said in a note.

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