US stocks closed mostly lower as investors awaited earnings reports and monitored economic data releases
The Nasdaq and S&P 500 closed lower, dragged by tech stocks on concerns about high valuations, while falling crude prices boosted airlines and other travel stocks.
The Dow Jones Industrial Average rose 182.06 points, or 0.35 per cent, to 51,848.90, the S&P 500 lost 7.24 points, or 0.10 per cent, to 7,358.22 and the Nasdaq Composite fell 110.40 points, or 0.43 per cent, to 25,476.64.
Meanwhile, traders increased bets of a second rate hike in the US by year end, according to CME Group’s FedWatch tool, compared with expectations for a single 25-basis-point rise previously.
Oil falls as Iran tensions ease
Oil prices fell to their lowest level since the start of the Iran conflict as more tankers were expected to move through the Strait of Hormuz.
US President Donald Trump said Iran had told the United States that no tolls were being sought.
Travel and airlines rally
The S&P 500 passenger airlines index gained 5.2 per cent, while travel companies Expedia Group and Booking Holdings both rose.
Consumer discretionary stocks also rose 0.8 per cent and industrials climbed 1.2 per cent, with six of the 11 major S&P 500 sectors ending higher.
Nvidia peers and AI concerns weigh on tech
Tech stocks slipped, with attention on chipmaker Micron Technology’s earnings after the bell.
The stock, which has surged more than 200 per cent in 2026, closed down 0.3 per cent but rose in extended trading after beating revenue and forecast expectations.
Cerebras Systems fell 19.6 per cent after forecasting a drop in full-year profit margins in its first report since listing.
Also weighing on sentiment, OpenAI announced its own in-house inference chip.
Concerns around debt-backed spending by hyper-scalers and a more hawkish Federal Reserve have fuelled a broader market downturn this week.
