Wall Street experienced a volatile trading session, initially declining by as much as 2% following former President Trump’s speech, which failed to provide clarity on geopolitical tensions. However, news that Iran is developing a protocol for safe transit through the Strait of Hormuz helped indices recover some losses, with futures now hovering slightly below opening levels.

Macroeconomic data released on Thursday did not significantly impact market movements, with initial jobless claims slightly better than expected and a narrowing trade deficit. Notably, space-related stocks surged, buoyed by the Artemis II mission launch, with Globalstar up 7% amid acquisition rumors by Amazon, while Intuitive Machines rose 14%. Conversely, Tesla faced a setback with disappointing vehicle delivery numbers, leading to a 3% drop in its stock.

As markets globally reacted to the evolving situation, Brent and WTI crude oil prices surged, reflecting ongoing concerns over energy supply amid geopolitical uncertainties. This dynamic environment underscores the need for market professionals to remain vigilant about sector-specific developments and macroeconomic indicators.

Source: xtb.com