Stocks Dip Amid Mixed Economic Data and U.S.-Iran Tension

U.S. equities saw a decline on Thursday, influenced by mixed economic data and a less optimistic forecast from Walmart, while tensions between the U.S. and Iran propelled oil prices higher. All major U.S. stock indexes took a downturn, mirroring a similar trend in European markets and counteracting a recent winning streak.

Investors grappled with economic indicators suggesting labor market stability but faced the ongoing dilemma of transitioning away from mega-cap tech stocks. This uncertainty was underscored by a record goods deficit in U.S. trade data, even as imports surged amidst imposed tariffs.

The persistent tension in the Middle East, specifically concerns over a U.S.-Iran conflict, remains a key factor for commodities like oil and gold. The dollar edged upward due to favorable jobless claims data and divided perspectives in the U.S. Federal Reserve about potential interest rate cuts, reflecting a cautious economic outlook.