We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Wall Street closed lower on Friday as rising oil prices and renewed concerns involving Iran weighed on investor sentiment. The Nasdaq Composite, the S&P 500 and the Dow ended in negative territory. For the week, the S&P 500 edged higher, while the Dow and the Nasdaq posted slight declines.
How Did The Benchmarks Perform?
The Dow Jones Industrial Average (DJI) fell 1.1%, or 537.29 points, to close at 49,526.17. Twelve components of the 30-stock index ended in negative territory, while 18 ended in positive territory.
The tech-heavy Nasdaq Composite declined 1.5% to close at 26,225.15.
The S&P 500 lost 1.2% or 92.74 points, to end at 7,408.50. Out of 11 broad sectors of the broad-market index, 10 ended in negative territory, and one ended in positive territory. The Materials Select Sector SPDR (XLB), the Utilities Select Sector SPDR (XLU) and the Industrials Select Sector SPDR (XLI) fell 2.7%, 2.4% and 1.8%, respectively, while the Energy Select Sector SPDR (XLE) rose 2.3%.
The fear gauge, the CBOE Volatility Index (VIX), increased 6.8% to 18.43. A total of 19.32 billion shares were traded on Friday, higher than the last 20-session average of 18.13 billion. The S&P 500 posted 12 new 52-week highs and 32 new lows, while the Nasdaq Composite recorded 53 new highs and 151 new lows.
Oil Prices Rise as Trump Puts Pressure on Iran
Oil prices surged on Friday after President Donald Trump said he was running out of patience with Iran and that Chinese President Xi Jinping had agreed Tehran must reopen the Strait of Hormuz, Reuters reported. The comments caused Brent crude to shoot up by around 3.4% to $109 per barrel as the market became increasingly concerned about potential shortages of supplies to be pumped to parts of the globe. In the comments, Trump said he was considering lifting sanctions on Chinese companies that were purchasing oil from Iran and said that Iran needed to make a deal over its nuclear program quickly.
The comments were shortly followed by a statement from China on the conflict, “something that should never have happened.” An Iranian official said Friday that his country was still willing to negotiate, but is also prepared for renewed fighting.
Economic Data
Industrial production increased by 0.7% in April. The March reading was revised to a decline of 0.5% from the previously reported decline of 0.3%.
Capacity Utilization in April came in at 76.1%, above the Zacks Consensus Estimate of 75.8%. The metric for March was 75.7%.
The NY Empire State Manufacturing Index for May jumped to 19.6, in contrast to the Zacks Consensus Estimate of 7. The reading for April was 11.
Weekly Roundup
For the week, the S&P 500 inched up 0.1%, gaining 9.57 points. The Dow Jones Industrial Average fell 0.2%, losing 82.99 points, while the Nasdaq Composite slipped 0.1%, down 21.93 points.
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
View the Zacks #1 Rank List
Image: Shutterstock
Stock Market News for May 18, 2026
Wall Street closed lower on Friday as rising oil prices and renewed concerns involving Iran weighed on investor sentiment. The Nasdaq Composite, the S&P 500 and the Dow ended in negative territory. For the week, the S&P 500 edged higher, while the Dow and the Nasdaq posted slight declines.
How Did The Benchmarks Perform?
The Dow Jones Industrial Average (DJI) fell 1.1%, or 537.29 points, to close at 49,526.17. Twelve components of the 30-stock index ended in negative territory, while 18 ended in positive territory.
The Dow's major loser was NVIDIA Corporation (NVDA - Free Report) . The stock price of this computing infrastructure company fell 4.4%. NVIDIA currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
The tech-heavy Nasdaq Composite declined 1.5% to close at 26,225.15.
The S&P 500 lost 1.2% or 92.74 points, to end at 7,408.50. Out of 11 broad sectors of the broad-market index, 10 ended in negative territory, and one ended in positive territory. The Materials Select Sector SPDR (XLB), the Utilities Select Sector SPDR (XLU) and the Industrials Select Sector SPDR (XLI) fell 2.7%, 2.4% and 1.8%, respectively, while the Energy Select Sector SPDR (XLE) rose 2.3%.
The fear gauge, the CBOE Volatility Index (VIX), increased 6.8% to 18.43. A total of 19.32 billion shares were traded on Friday, higher than the last 20-session average of 18.13 billion. The S&P 500 posted 12 new 52-week highs and 32 new lows, while the Nasdaq Composite recorded 53 new highs and 151 new lows.
Oil Prices Rise as Trump Puts Pressure on Iran
Oil prices surged on Friday after President Donald Trump said he was running out of patience with Iran and that Chinese President Xi Jinping had agreed Tehran must reopen the Strait of Hormuz, Reuters reported. The comments caused Brent crude to shoot up by around 3.4% to $109 per barrel as the market became increasingly concerned about potential shortages of supplies to be pumped to parts of the globe. In the comments, Trump said he was considering lifting sanctions on Chinese companies that were purchasing oil from Iran and said that Iran needed to make a deal over its nuclear program quickly.
The comments were shortly followed by a statement from China on the conflict, “something that should never have happened.” An Iranian official said Friday that his country was still willing to negotiate, but is also prepared for renewed fighting.
Economic Data
Industrial production increased by 0.7% in April. The March reading was revised to a decline of 0.5% from the previously reported decline of 0.3%.
Capacity Utilization in April came in at 76.1%, above the Zacks Consensus Estimate of 75.8%. The metric for March was 75.7%.
The NY Empire State Manufacturing Index for May jumped to 19.6, in contrast to the Zacks Consensus Estimate of 7. The reading for April was 11.
Weekly Roundup
For the week, the S&P 500 inched up 0.1%, gaining 9.57 points. The Dow Jones Industrial Average fell 0.2%, losing 82.99 points, while the Nasdaq Composite slipped 0.1%, down 21.93 points.