U.S. Stocks Mixed as Geopolitical Tensions and Oil Prices Fluctuate

U.S. stocks closed in a mixed pattern on Thursday, April 6, 2026, as oil prices spiked in response to heightened geopolitical tensions. President Donald Trump's threats of aggressive action against Iran, coupled with warnings of a potential extended conflict, initially sent markets reeling. However, investor sentiment improved later in the session after Iran's foreign ministry indicated efforts to draft a protocol with Oman to manage ship traffic through the Strait of Hormuz. The United Kingdom also reported ongoing discussions with other nations to resolve the Strait of Hormuz crisis, easing some concerns about prolonged oil supply disruptions. The Dow Jones Industrial Average (DJI) ended the day down 0.1%, or 61.07 points, at 46,504.67, having previously dropped as much as 600 points. In contrast, the S&P 500 and Nasdaq Composite closed in positive territory, with the S&P 500 rising 0.1% to 6,582.69 and the Nasdaq climbing 0.2% to 21,879.18. Tech and consumer staples sectors led gains, while consumer discretionary stocks were the worst performers. The CBOE Volatility Index (VIX) fell to 23.87, reflecting some stabilization in market sentiment. Oil prices surged sharply following Trump's remarks, with West Texas Intermediate crude futures jumping 11.41% to $111.54 per barrel and Brent crude futures rising 7.78% to $109.03 per barrel. The energy sector saw mixed reactions, with Chevron Corporation (CVX) shares rising 0.8%. Meanwhile, Tesla, Inc. (TSLA) shares dropped 5.4% after reporting weaker-than-expected quarterly deliveries, citing a production and delivery imbalance. Economic data released on Thursday showed a decrease in initial jobless claims to 202,000 for the week ending March 28, down from 211,000 the previous week. Continuing claims, however, increased to 1,841,000. The four-week moving average for initial claims fell to 207,750, while the average for continuing claims was 1,838,750. The Labor Department also reported on Friday that nonfarm payrolls rose by 178,000 in March, following a 133,000 increase in February, with the unemployment rate declining to 4.3%.