Wall Street relinquished some of this week’s gains Thursday morning, the Associated Press reported, as oil prices continued their ascent and peace talks in Iran have stalled.
Futures for the S&P 500 and Nasdaq fell 0.4% before the bell, while Dow Jones Industrial Average futures dipped 0.6%.
Brent crude, the international standard, was up $1.27 early Thursday at $103.18 per barrel. It was around $70 a barrel before the Iran war began in late February.
Benchmark U.S. crude gained $1.21 to $94.17 per barrel.
In equities trading, Tesla fell more than 3% overnight after the electric car company beat Wall Street’s first-quarter expectations but announced a $25 billion capital expenditure investment for 2026.
American Airlines joined other carriers in cutting performance expectations this year due to skyrocketing jet fuel costs.
