Wall Street exhibited a cautious stance on Thursday as U.S. President Donald Trump announced sanctions targeting Russian oil giants Rosneft and Lukoil, causing crude oil prices to surge over 5%. Futures for the S&P 500 and Nasdaq edged up marginally, while Dow Jones futures dipped slightly. The sanctions aim to pressure Russian President Vladimir Putin to negotiate an end to the ongoing conflict in Ukraine. Concurrently, European Union leaders convened to approve additional sanctions and explore utilizing frozen Russian assets to support Ukraine’s economy and war efforts for the next two years. U.S. benchmark crude oil rose to $61.63 per barrel, with Brent crude climbing to $65.72. In corporate news, Tesla’s shares dropped 3.2% after reporting a 37% decline in third-quarter earnings, marking its fourth consecutive quarterly profit drop. CEO Elon Musk shifted focus to Tesla’s AI and robotaxi ventures during an investor call. IBM’s shares fell 6.8% despite beating sales and profit targets, as cloud revenue growth slowed. Molina Healthcare plummeted over 20% after missing profit forecasts and revising its full-year earnings outlook downward. European markets showed mixed results, with Germany’s DAX down 0.3%, Britain’s FTSE 100 up 0.6%, and France’s CAC 40 rising 0.4%. Asian markets were similarly mixed, with Hong Kong’s Hang Seng gaining 0.7% and Japan’s Nikkei 225 shedding 1.4% amid stimulus package discussions. Gold prices rebounded 1.6% to $4,131.80 after a two-day decline.
Wall Street quietly mixed early while crude prices soar $3 after Trump sanctions Russian oil giants
