Wall Street traded with little direction on Thursday, while oil prices remained relatively stable after the sharp volatility seen a day earlier, as investors assessed the latest developments following President Donald Trump’s remarks casting doubt on the temporary truce in the conflict with Iran.In early trading, the S&P 500 edged up 0.1%, despite fresh US airstrikes on Iran and Tehran’s retaliatory attacks targeting US allies in the Middle East. The Dow Jones Industrial Average slipped 33 points, while the Nasdaq Composite gained 0.1%. Brent crude eased 0.3% after posting a sharp rally the previous session. Stock markets across much of Europe and Asia also advanced, according to an AP report.US stock futures were mixed before Thursday’s opening bell, while oil prices posted modest gains as the US and Iran exchanged fresh attacks in the Middle East, raising fresh concerns over the durability of the fragile ceasefire.Futures tied to the S&P 500 added 0.1%, Dow Jones Industrial Average futures declined 0.1%, and Nasdaq futures climbed 0.5%.The US carried out additional airstrikes on Iran, prompting Iran to launch missiles toward Bahrain, Kuwait and Qatar. The escalation came a day after President Donald Trump declared that the temporary ceasefire was “over.” According to a regional intelligence official involved in mediation efforts, who spoke anonymously, negotiations aimed at securing a lasting peace remain underway, leaving the outcome uncertain.Oil prices moved slightly higher on Thursday. Brent crude, the international benchmark, rose 64 cents to $78.66 a barrel after briefly crossing the $80 mark on Wednesday. Before the Iran war began, Brent was trading near $72 per barrel. More recently, optimism surrounding an interim peace agreement had pushed prices back to roughly their pre-war levels.US benchmark crude also advanced, gaining 54 cents to reach $74.06 a barrel.Among individual stocks, PepsiCo shares slipped 1% after the food and beverage company reported second-quarter revenue that exceeded expectations. The company, however, pointed to softer demand in North America, saying consumers had become more cautious with spending because of economic uncertainty.The corporate earnings season gathers pace next week, with several of the largest US banks and major airlines scheduled to announce their latest quarterly financial results.In European trading around midday, Britain’s FTSE 100 was down 0.7%, France’s CAC 40 had gained 0.3%, and Germany’s DAX was trading 0.1% higher.In Asia, Japan’s Nikkei 225 recovered part of the losses recorded earlier in the week, rising 1.4% to 67,743.85. Shares of chip equipment manufacturer Tokyo Electron climbed 5.5%, while artificial intelligence-focused investment holding company SoftBank Group edged down 0.1%.South Korea’s Kospi fluctuated throughout the session before closing 0.6% higher at 7,291.91 after earlier trading in negative territory. Samsung Electronics added 0.2%, while memory chipmaker SK Hynix surged 5.3%.China’s Shanghai Composite climbed 1.7% to 4,036.59, even as the country’s producer price index increased 4.1% in June from a year earlier, accelerating from May’s 3.9%. Some economists attributed the stronger inflation reading to the effects of the Iran war.Hong Kong’s Hang Seng Index declined 0.7% to 24,030.18. Apple supplier Luxshare dropped 1.6% during its Hong Kong trading debut, while Chinese artificial intelligence company Zhipu, also known as Z.ai, jumped 11.3% after announcing plans to raise about $4 billion through a share sale.Australia’s S&P/ASX 200 fell 0.3% to 8,762.50. Taiwan’s Taiex lost 0.8%, while India’s Sensex advanced 0.6%.
