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U.S. stocks ended mostly lower on Thursday as tensions in the Middle East escalated, sparking inflation and rate hike fears while semiconductor and AI stocks took a beating. The Dow, however, ended in positive territory.
How Did the Benchmarks Perform?
The Dow Jones Industrial Average (DJI) rose 0.1%, or 51.77 points, to close at 51,231.64 points.
The S&P 500 shed 0.5%, or 36.41 points, to finish at 7,765.36 points. Tech stocks were the worst performers, while energy stocks were the biggest gainers.
The Information Technology Select Sector SPDR (XLK) declined 1.8%. The Energy Select Sector SPDR (XLE) gained 3%. Eight of the 11 sectors of the benchmark index ended in positive territory.
The tech-heavy Nasdaq declined 1.3%, or 345.35 points, to end at 27,193.34 points.
The fear gauge, the CBOE Volatility Index (VIX), was up 2.19% to 15.41. Advancers outnumbered decliners on the NYSE by a 1.28-to-1 ratio. On the Nasdaq, a 1.33-to-1 ratio favored declining issues. A total of 18.81 billion shares were traded on Thursday, higher than the last 20-session average of 17.74 billion.
On the NYSE, there were 110 new highs and 416 new lows. On the Nasdaq, there were 33 new 52-week highs and 319 new lows. On the S&P 500, there were four new 52-week highs and 12 new lows.
AI, Chip Stocks Suffer
Tech stocks, especially those focused on AI and semiconductors, suffered on Thursday following a report revealing OpenAI’s annualized revenues were sharply lower than it was earlier signaled by the company.
Tensions in the Middle East escalated on Thursday, with oil prices surging further. Concerns grew after President Donald Trump said that he has no plans to reach a deal just to end the Iran war. The United States was reportedly also planning to carry out massive attacks in the Middle East.
The President later announced that he won’t carry out attacks on Iran before next month’s midterm election. This somewhat eased oil prices, but they remained sharply higher.
West Texas Intermediate futures rose 3.64% to end at $91.49 a barrel. Brent crude also remained sharply above $100. Brent crude climbed 4.07% to settle at $104.28 per barrel.
Bond yields eased slightly after hitting historic highs this week. The benchmark 10-year Treasury yield and 30-year Treasury yield hit new 24-year highs earlier this week. On Thursday, the 30-year bond yield was 6 basis points lower at 5.601%. The 10-year Treasury yield fell 5 basis points to end at 5.227%.
Economic Data
The Labor Department reported that jobless claims totaled 197,000 for the week ending Oct. 3, a decrease of 2,000 from the previous week’s revised level of 199,000. The four-week moving average was 198,000, a decrease of 2,500 from the previous week’s revised average of 200,500.
Continuing claims came in at 1,716,000, an increase of 17,000 from the previous week’s revised level of 1,699,000. The 4-week moving average was 1,711,000, a decrease of 12,250 from the previous week's revised average of 1,723,250.
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Stock Market News for Oct 9, 2026
U.S. stocks ended mostly lower on Thursday as tensions in the Middle East escalated, sparking inflation and rate hike fears while semiconductor and AI stocks took a beating. The Dow, however, ended in positive territory.
How Did the Benchmarks Perform?
The Dow Jones Industrial Average (DJI) rose 0.1%, or 51.77 points, to close at 51,231.64 points.
The S&P 500 shed 0.5%, or 36.41 points, to finish at 7,765.36 points. Tech stocks were the worst performers, while energy stocks were the biggest gainers.
The Information Technology Select Sector SPDR (XLK) declined 1.8%. The Energy Select Sector SPDR (XLE) gained 3%. Eight of the 11 sectors of the benchmark index ended in positive territory.
The tech-heavy Nasdaq declined 1.3%, or 345.35 points, to end at 27,193.34 points.
The fear gauge, the CBOE Volatility Index (VIX), was up 2.19% to 15.41. Advancers outnumbered decliners on the NYSE by a 1.28-to-1 ratio. On the Nasdaq, a 1.33-to-1 ratio favored declining issues. A total of 18.81 billion shares were traded on Thursday, higher than the last 20-session average of 17.74 billion.
On the NYSE, there were 110 new highs and 416 new lows. On the Nasdaq, there were 33 new 52-week highs and 319 new lows. On the S&P 500, there were four new 52-week highs and 12 new lows.
AI, Chip Stocks Suffer
Tech stocks, especially those focused on AI and semiconductors, suffered on Thursday following a report revealing OpenAI’s annualized revenues were sharply lower than it was earlier signaled by the company.
This weighed on the broader market, with shares of tech giants like NVIDIA Corporation ((NVDA - Free Report) ) and Advanced Micro Devices, Inc. ((AMD - Free Report) ) declining 2.9% and 3.9%, respectively. Shares of Oracle Corporation ((ORCL - Free Report) ) tumbled 5.5%. NVIDIA has a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
Middle East Tensions Escalate, Oil Prices Surge
Tensions in the Middle East escalated on Thursday, with oil prices surging further. Concerns grew after President Donald Trump said that he has no plans to reach a deal just to end the Iran war. The United States was reportedly also planning to carry out massive attacks in the Middle East.
The President later announced that he won’t carry out attacks on Iran before next month’s midterm election. This somewhat eased oil prices, but they remained sharply higher.
West Texas Intermediate futures rose 3.64% to end at $91.49 a barrel. Brent crude also remained sharply above $100. Brent crude climbed 4.07% to settle at $104.28 per barrel.
Bond yields eased slightly after hitting historic highs this week. The benchmark 10-year Treasury yield and 30-year Treasury yield hit new 24-year highs earlier this week. On Thursday, the 30-year bond yield was 6 basis points lower at 5.601%. The 10-year Treasury yield fell 5 basis points to end at 5.227%.
Economic Data
The Labor Department reported that jobless claims totaled 197,000 for the week ending Oct. 3, a decrease of 2,000 from the previous week’s revised level of 199,000. The four-week moving average was 198,000, a decrease of 2,500 from the previous week’s revised average of 200,500.
Continuing claims came in at 1,716,000, an increase of 17,000 from the previous week’s revised level of 1,699,000. The 4-week moving average was 1,711,000, a decrease of 12,250 from the previous week's revised average of 1,723,250.