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The Dow Jones Industrial Average fell 0.67%, while the S&P 500 declined 0.82%. Besides this, the Nasdaq Composite fell 1.4% in early trade.At 19:10 IST, oil prices were trading higher across the board. WTI Crude rose to $97.58, up $1.26 or 1.31%, while Brent Crude climbed to $112.7, gaining $5.27 or 4.91%.Murban Crude surged to $128.8, up $12.07 or 10.34%, and Natural Gas advanced to $3.243, rising $0.178 or 5.81%.

We will now wrap up the blog. Good night, folks.

The three major US indexes ended Thursday’s session in negative territory.

The Dow Jones Industrial Average fell 203.72 points, or 0.44%, to close at 46,021.43. The S&P 500 declined 0.27% to 6,606.49, while the Nasdaq Composite slipped 0.28% to 22,090.69.

With markets no longer expecting interest rate cuts in 2025, economists at Macquarie believe the Federal Reserve’s next move could instead be a rate hike.

The firm said in notes released around the Fed’s latest meeting that inflationary pressures are likely to build, eventually forcing the central bank to raise rates—though not immediately. Macquarie now expects the Fed to stay on hold in the coming months, with no cuts on the horizon.

“We see the next move as a hike,” the firm said, adding that the timing has been pushed further out to the first half of 2027 due to mixed labor market signals and potential near-term pressure on consumers from higher oil prices.

Macquarie also highlighted that policymakers remain divided. Seven of the 19 Federal Open Market Committee participants currently favor either holding rates steady or raising them this year. A shift by just three officials would result in a majority opposing rate cuts altogether.

Futures markets are already reflecting this outlook, with traders pricing in no rate cuts for the year.– CNBC

Retail investors moved in opposite directions across precious metals during Thursday’s selloff, dumping gold-related positions while buying into silver.

The SPDR Gold Shares (GLD) saw about $2.8 million in net outflows from retail traders in the first two hours of trading, according to VandaTrack, putting it on track for its biggest daily selling since late February.

In contrast, small investors poured more than $19 million into the iShares Silver Trust (SLV) during the same period. The fund is on pace to record its strongest day of inflows since March 3, highlighting dip-buying interest in silver.

Reopening the Strait of Hormuz has become a “top priority” for the Trump administration, according to American Petroleum Institute President and CEO Mike Sommers.

“We need to get the Strait open,” Sommers said Thursday in an interview on CNBC’s “Power Lunch.” “There is just no substitute right now.”

His comments followed a meeting hosted by the API between industry leaders and White House officials, including Vice President JD Vance and Energy Secretary Chris Wright.

Sommers acknowledged that US consumers are feeling the impact of rising fuel prices as tensions between the US and Iran push crude oil higher. He added that the U.S. should focus on increasing domestic production to reduce reliance on oil from the Persian Gulf.

Treasury yields and the US dollar are moving against conventional market behavior during periods of geopolitical conflict, according to Charles Schwab.

In a typical wartime environment, investors flock to Treasurys, pushing prices higher and yields lower. At the same time, the U.S. dollar often weakens due to its inverse relationship with oil prices, which tend to surge during conflicts.

However, both Treasury yields and the dollar are rising in the current scenario. Analysts at Charles Schwab, Liz Ann Sonders and Kevin Gordon, suggest that traders may be betting the U.S. economy is relatively insulated from higher oil prices due to its status as a net energy exporter. This has supported demand for the dollar.

Meanwhile, expectations of elevated inflation driven by energy market volatility are pushing yields higher, reflecting concerns that price pressures could persist.

Shares of Rivian Automotive and Uber Technologies moved in opposite directions in afternoon trading following a major partnership announcement.

As of 2:45 p.m. ET, Rivian was up more than 1%, while Uber declined by nearly 2%.

The divergence comes after Uber revealed plans to invest up to $1.25 billion in Rivian as part of a long-term agreement to deploy as many as 50,000 robotaxis across multiple countries through 2031.

Mom-and-pop investors have grown increasingly pessimistic, with bearish sentiment hitting its highest level since May 2025. According to the latest weekly survey by the American Association of Individual Investors, 52% of respondents now expect stocks to decline over the next six months, up sharply from 46.4% the previous week. This marks the highest reading since 59.3% recorded on May 1, 2025.

Meanwhile, bullish sentiment edged lower to 30.4% from 31.9% last week, representing the smallest share of optimists since September 11. Neutral views also declined, with just 17.6% of investors expressing a balanced outlook—the lowest level since mid-September.

Rising bearishness is often viewed positively by contrarian investors, who see it as a signal that selling pressure may be nearing exhaustion and that sidelined cash could eventually flow back into equities.

Individual investors have turned the most pessimistic since May 2025, according to the latest survey from the American Association of Individual Investors. Bearish sentiment on the six-month outlook jumped to 52%, up from 46.4% the previous week, the highest level since 59.3% recorded on May 1, 2025. Meanwhile, bullish sentiment slipped to 30.4%, its lowest since September last year. Neutral views also dropped to just 17.6%, marking the smallest share of undecided investors since mid-September, indicating stronger conviction in the current negative outlook.

The Russell 2000 hovered near correction territory on Thursday, reflecting continued weakness in small-cap stocks. The index fell as much as 0.7% during afternoon trading, taking it to roughly 10% below its 52-week high, a key threshold that defines a correction. It later trimmed losses slightly, trading down around 0.6%.

Donald Trump has indicated at continued support for a Department of Justice investigation into Jerome Powell, a move that could complicate and potentially delay the confirmation of his expected successor, Kevin Warsh. Speaking from the Oval Office, Trump alleged that Powell is under investigation over cost overruns tied to renovations at the Federal Reserve’s Washington headquarters. The probe is reportedly being led by US Attorney Jeanine Pirro and is focused on the central bank’s building project.

US equities continued to slide on Thursday, pushing major benchmarks closer to the 10% correction mark from their 52-week highs. As of midday trading, the Dow Jones Industrial Average was down 9.1% from its peak, while the S&P 500 had slipped 5.9%. The tech-heavy Nasdaq Composite was off 8.4%, and the small-cap Russell 2000 led declines, falling 9.7% from its 52-week high, just shy of correction territory.

Wolfe Research warns that the primary threat to public markets is a sentiment-driven de-risking loop. The firm notes that negative news flow around private markets could trigger pressure on listed alternative asset managers and BDCs, widen credit spreads, and tighten financing conditions across banks and capital markets if fears escalate. Scrutiny on private-market valuations and liquidity has intensified following markdowns and rising redemption pressure in private credit and equity funds. While defaults remain relatively contained, investor sensitivity to stress signals in leveraged finance is increasing.

All of the positive economic talk out of this week’s Federal Reserve meeting had a negative impact on investors, who have now taken expectations for even one interest rate cut this year off the table.

In his post-meeting news conference, Fed Chair Jerome Powell took an upbeat view of current conditions, even with what he termed “zero” net job growth and inflation staying above the central bank’s 2% target. Powell called economic growth “solid” and rejected any notion that stagflation was taking hold. Though the Federal Open Market Committee statement noted “uncertainty” associated with the Iran war, Powell never addressed it directly.

With hostilities escalating in the Middle East and the Fed seemingly not inclined to react, investors took a dim view of the prospects of easier monetary policy.

Investors are ruling out any interest rate cuts in 2026 after a relatively upbeat assessment from the Federal Reserve. Speaking after the latest policy meeting, Chair Jerome Powell described the economic growth as solid, even as inflation remains above the Fed’s 2% target and job growth stands at zero on net. He also pushed back against concerns of stagflation. While the Federal Open Market Committee acknowledged uncertainty tied to geopolitical tensions, including the Iran conflict, Powell avoided directly addressing the issue. With rising instability in the Middle East and no clear signal of policy easing, markets have now largely priced out the possibility of even a single rate cut this year.

Early late-stage trial data for Eli Lilly’s next-generation obesity drug retatrutide points to potentially best-in-class outcomes, according to Wolfe Research analyst Alexandria Hammond. Patients lost between 9% and 14.3% of their body weight over 40 weeks, with no plateau yet that has been observed. Despite the encouraging efficacy signal, the stock reaction was subdued, with shares only rising marginally higher. The muted response likely reflects expectations that most obesity patients will continue using tirzepatide, the active ingredient in Mounjaro. Hammond noted retatrutide may be positioned for patients with higher BMI, limiting its broader commercial potential. She currently estimates peak non-risk-adjusted sales at $7.8 billion, well below the $17 billion consensus forecast.

Gold slid to its lowest level since February 2, extending losses as inflation concerns continue to weigh on sentiment. The metal is down roughly 10% week-to-date, putting it on track for its worst weekly performance since February 1983, when prices dropped over 12%. Although it recovered slightly from intraday lows, gold was still trading about 6% lower at the opening bell. Silver replicated the decline, falling more than 10% in a single session and heading for its steepest weekly drop since January, when it had plunged over 22%.

Shares of Rivian surged nearly 10% in pre-market trade after Uber said it will invest up to $1.25 billion in the EV maker.

As part of the deal, Uber will get access to as many as 50,000 fully autonomous vehicles from Rivian, marking a major push into the robotaxi space.

While Rivian stock rallied sharply on the news, Uber’s shares were largely unchanged in early trading.

US stocks opened in the red on Friday, with broader weakness across major indices.

The Dow Jones Industrial Average fell 0.67%, while the S&P 500 declined 0.82%. Besides this, the Nasdaq Composite fell 1.4% in early trade.

US Defense Secretary Pete Hegseth on Thursday said the Pentagon’s reported $200 billion funding request for a potential Iran war effort is not final and could still change.

Speaking at a press briefing, Hegseth did not confirm the exact figure but acknowledged that the funding needs are under discussion. The estimate was first reported by The Washington Post.

“It takes money to kill bad guys,” Hegseth said, underlining the need for adequate military funding.

The US Federal Reserve left interest rates unchanged and tweaked its economic projections, with Chair Jerome Powell highlighting a cautious and data-dependent stance going ahead.

The Fed offered limited forward guidance, with minor changes in its statement and a modestly dovish tilt in the dot plot. Powell repeatedly underscored the uncertain outlook, signalling a wait-and-watch approach.

Powell flagged the US–Iran conflict as a key risk, saying the oil shock has complicated policymaking. He noted that the economic impact remains unclear and could vary significantly.

European natural gas prices jumped sharply, with futures surging over 17% after fresh attacks on critical energy infrastructure in West Asia. Strikes on Iran’s South Pars gas field and reported damage at QatarEnergy’s Ras Laffan LNG export complex — the world’s largest — triggered fears of supply disruptions.

The escalation marks a sharp intensification in the conflict, with energy assets increasingly coming under attack over the past 24 hours. The South Pars field, shared by Iran and Qatar, is among the world’s largest gas reserves, raising concerns over prolonged disruptions to global LNG flows. here

US Federal Reserve Chair Jerome Powell said he will continue in his role beyond the end of his term in May if nominee Kevin Warsh is not confirmed in time. Powell noted that under existing law, he would serve as chair on an interim basis until a successor is formally approved.

He also said he intends to remain on the Federal Reserve’s Board of Governors until an ongoing Department of Justice probe is concluded with full transparency. for key takeaways from the Fed meeting.

Precious metals came under pressure on Thursday, with gold and silver extending losses amid a broader global sell-off driven by escalating West Asia tensions and rising inflation concerns.

Spot gold fell 2% to $4,718.60 per ounce, while front-month futures dropped 3.8% to $4,709.90. Silver saw sharper declines, with spot prices down 5% to $71.53, and futures slipping 7.7%, reflecting heightened volatility across commodities.

Oil and gas prices spiked sharply as escalating attacks in West Asia heightened fears of prolonged disruptions to critical energy infrastructure.

Brent crude futures surged nearly 11% to $119.11 per barrel, while US West Texas Intermediate crude rose 3% to $99.29, reflecting growing concerns over supply risks.

Natural gas markets also rallied, with US gas prices jumping 5.1% to $3.22 per MMBtu, while Europe’s TTF benchmark climbed 24% to €68.22 per MWh, signalling deepening stress across global energy markets.

European equities declined sharply on Thursday, with the pan-European Stoxx 600 falling 1.7%, as escalating tensions in West Asia weighed on investor sentiment. Most major regional indices traded lower, with selling seen across sectors.

The weakness was broad-based, with all sectors in the red except oil and gas, which gained on the back of rising crude prices. The surge in energy costs has raised concerns over inflation and its impact on growth.

Basic resources stocks led the decline, with mining majors Antofagasta and Fresnillo falling over 6% each, as investors factored in margin pressure from higher input costs and a challenging macro environment.

Wall Street closed sharply lower on Wednesday, with the Dow Jones Industrial Average falling 768 points (1.6%) to a fresh closing low for 2026. The index also slipped below its 200-day moving average, signalling a potential shift in the longer-term trend. The S&P 500 declined 1.4%, while the Nasdaq Composite dropped 1.5%.

The sell-off was triggered by a stronger-than-expected producer prices report, which heightened inflation concerns and raised doubts over the Federal Reserve’s rate-cut trajectory. The data reinforced fears that price pressures may remain elevated for longer.

Escalating geopolitical tensions, particularly the Iran conflict, added to market anxiety, fuelling concerns of a possible stagflationary environment — slower growth alongside persistent inflation. Markets are now pricing in a higher likelihood of the Fed staying on hold, with odds seen at 52% for 2026, despite earlier expectations of easing.NewsLive TVMarketPopular CategoriesCalculatorsTrending NowLet's Connect with CNBCTV 18Network 18 Group :©TV18 Broadcast Limited. All rights reserved.