Stock market today: Live updates

Stock futures fell on Thursday, weighed by a spike in crude prices and Treasury yields, while traders weighed whether Nvidia‘s earnings report met the high bar set for the artificial intelligence titan.

Futures tied to the S&P 500 declined 0.4%, while Nasdaq 100 futures lost 0.6%. Dow Jones Industrial Average futures dropped 167 points, or 0.3%.

Crude prices jumped after Reuters reported, citing sources, that Iran’s supreme leader issued a directive to keep enriched uranium within the country — further complicating the outlook to a resolution to the U.S.-Iran war. West Texas Intermediate futures were up 2.9% at $101.04 per barrel. Brent crude popped 2.3% $107.36.

The oil spike was followed with a move higher in Treasury yields, as traders grow fearful or rising inflation. The benchmark 10-year Treasury note yield climbed 5 basis points to 4.615%. The 30-year bond yield advanced 3 basis points to 3.665%.

Stocks rallied on Wednesday, snapping a three-day losing streak for the S&P 500, as oil prices and bond yields retreated. Investor spirits were lifted after President Donald Trump said the administration was in the “final stages” of negotiations with Iran, according to a pool report.

“The market is coming off a really strong earnings season that delivered positive revisions to earnings expectations, but concerns around inflation and demand destruction in the economy are proving persistent,” said Scott Helfstein, head of investment strategy at Global X ETFs. “That can be hard to look through, but there are still a lot of positive trends that can help propel the economy and markets.”

Traders on Thursday also assessed Nvidia’s latest quarterly report. Nvidia breezed past Wall Street’s expectations for earnings and guidance, in addition to announcing a hike in its quarterly cash dividend to 25 cents. But investors have come to expect the chipmaker to beat estimates and raise its outlook amid the AI boom.

Nvidia shares were last down slightly.