US Stock Market Today: S&P 500 Holds Near Flat as Hormuz Blockade Lifts Crude and Raises Caution
Currency markets showed limited movement. The Bloomberg Dollar Spot Index was little changed, the euro held at $1.1717, and the British pound stayed near $1.3463. The Japanese yen weakened 0.2% to 159.56 per dollar.
In digital assets, Bitcoin rose 0.8% to $71,900.54, and Ether added 0.4% to $2,222.63. Gold moved lower despite the geopolitical backdrop, with spot gold down 0.6% to $4,719.65 an ounce. The pullback suggested that traders were balancing safe-haven demand against a firmer dollar and higher inflation concerns.
Corporate Highlights
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Goldman Sachs shares fell about 3% after a miss in fixed-income, currency, and commodities revenue.
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Bill Ackman began formal marketing for the US IPO of his closed-end fund and hedge fund.
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Somnigroup International agreed to buy Leggett & Platt in an all-stock deal valued at about $2.5 billion.
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Palantir Technologies rose more than 2% in premarket trading after President Donald Trump praised its war-fighting capabilities.
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Sandisk gained after news that it is set to join the NASDAQ 100 index.
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Dolce & Gabbana appointed former Gucci boss Stefano Cantino as co-chief executive officer.
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Stefano Gabbana stepped down as chairman of Dolce & Gabbana.
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Earnings season formally opened with major banks drawing close investor attention.
Markets stayed relatively steady despite the new blockade, yet oil above $100 a barrel and higher fuel costs kept pressure on sentiment. At the same time, mixed earnings and firm bond yields showed that investors remained cautious as they tracked both corporate results and developments around the Strait of Hormuz.