US open: Stocks mixed as oil climbs on Middle East tensions

(Sharecast News) - Major indices were mixed at the open on Thursday after the Dow's fresh record high, with investors turning their attention to news from the Middle East, another slate of corporate earnings and several data points.

As of 1515 BST, the Dow Jones Industrial Average was down 0.13% at 54,281.05, while the S&P 500 advanced 0.11% to 7,732.03 and the Nasdaq Composite came out of the gate 0.15% stronger at 26,402.09.

The Dow opened 68.07 points lower on Thursday, taking a bite out of gains recorded in the previous session.

Oil prices pushed higher on early Thursday as geopolitical risks resurfaced, with traders cautious over the outcome of IranOman talks on restoring shipping flows through the Strait of Hormuz and fresh reports of attacks on Saudi tankers adding to supply concerns. Brent crude was up 1.75% at $80.84 a barrel, while West Texas Intermediate gained 1.21% to $76.13.

Iran and Oman have agreed on geographic coordinates for a potential shipping corridor through the strait, with a joint announcement expected once outstanding issues are resolved, Iran's foreign ministry said on Wednesday. Reuters reported that a proposed deal aimed at easing the USIran conflict would grant Tehran control over vessels entering the Gulf via the Strait of Hormuz - described by regional officials as one of the most significant concessions offered to Iran to date.

In the corporate space, SpaceX was back in the spotlight at the open as the first lockup on its shares expires, freeing up more than 900m shares for early investors to sell. The staggered release could put pressure on the stock as liquidity increases.

As far as Thursday's earnings were concerned, Restaurant Brands posted secondquarter results that topped expectations, driven by a sharp acceleration in Burger King' US performance, with adjusted earnings per share coming in at $1.07, ahead of the $1.03 forecast, while net revenue rose 4.5% to $2.52bn, in line with Wall STreet estimates. Burger King US samestore sales jumped 8.5%, compared with 1.5% a year earlier.

Elsewhere, Warner Bros Discovery missed revenue expectations in Q2, as the absence of NBA rights and the release of Supergirl weighed on results. Revenues fell 11% to $8.7bn, below the $9.2bn consensus, while diluted earnings per share of $0.06 beat expectations for a $0.10t loss. The update comes as the company's proposed $110bn merger with Paramount remains tied up in legal challenges, with 12 state attorneys general and the Writers Guild of America seeking to block the deal on antitrust grounds. Streaming was a bright spot, with revenue up 10% to $3.1bn and underlying earnings surging 75% to $512m.

Still to come, Airbnb and Lyft were both slated to report earnings after the close.

On the macro front, US employers announced 33,429 job cuts in July, according to Challenger, Gray & Christmas, down 27% from June and 46% below the same month last year to mark the lowest monthly total in two years. Artificial intelligence remained the top driver of reductions for a fifth straight month, accounting for 10,970 cuts, while the tech sector once again led industrylevel declines with 9,867 planned layoffs, followed by financial services at 3,157, government at 2,962 and services at 2,581. So far this year, companies have announced 477,033 job cuts, down 41% from the 806,383 recorded in the first seven months of 2025. Hiring plans also improved, with employers announcing 16,095 new roles in July, the strongest July reading since 2022.

On another note, Americans lined up for unemployment benefits at an accelerated pace in the week ended 1 August, according to the Labor Department, with initial claims rising by 1,000 to 199,000, slightly below expectations for a reading of 202,000. Continuing claims rose by a sharper 24,000 to 1.8m, below expectations of 1.79m, while the four week-moving average, which aims to strip out week-to-week volatility, dropped by 4,500 to 198,750. Also of note, the advance seasonally adjusted insured unemployment rate came to 1.2% for the week ended 25 July, unchanged from the previous week's unrevised rate.

Still on data, US labour productivity picked up in the second quarter, according to preliminary figures from the Bureau of Labor Statistics on Thursday, with nonfarm business sector productivity rising 1.4% on an annualised basis as output increased 1.7%, hours worked edged 0.3% higher and productivity grew 2.2%. Unit labour costs rose 1.3% in the quarter, reflecting a 2.7% increase in hourly compensation and the productivity gain. Over the past four quarters, unit labour costs were up 1.4%. Real hourly compensation fell 3.1%, while the labour share of income dropped to 52.9% - the lowest level since the series began in 1947. Manufacturing productivity increased 1.9% in Q2, driven by a 4.6% rise in output and a 2.6% increase in hours worked. Durable goods productivity rose 2.7%, while non-durable productivity increased 2.0%. Manufacturing unit labour costs were unchanged in the quarter. The BLS also issued revisions to prior data, with nonfarm productivity for Q1 revised up to 0.8%, while manufacturing productivity for the same period was revised down to 1.9%. Unit labour costs in manufacturing were revised higher to 3.5%.

Finally, US wholesale sales fell in June, according to the Census Bureau, while inventories edged higher. Merchant wholesaler sales dropped 3.0% in June to $794.1bn after seasonal adjustment, though they remained 14.1% above yearearlier levels. The prior month's gain was revised slightly higher, with ApriltoMay sales now estimated to have risen 3.5%. Inventories, on the other hand, ticked up 0.2% on the month to $944.7bn, and were 4.2% higher than in June 2025. The MaytoJune change was revised down from the advance estimate of a 0.3% increase. The inventoriestosales ratio stood at 1.19 in June, down from 1.30 a year earlier.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Apple Inc. (AAPL) $316.02 2.46%

Walt Disney Co. (DIS) $103.26 1.47%

Verizon Communications Inc. (VZ) $46.89 0.86%

Chevron Corp. (CVX) $187.82 0.79%

Merck & Co. Inc. (MRK) $129.24 0.75%

Dow Chemical Co. (DOW) $29.88 0.67%

Coca-Cola Co. (KO) $87.38 0.49%

3M Co. (MMM) $182.26 0.44%

Procter & Gamble Co. (PG) $147.60 0.41%

JP Morgan Chase & Co. (JPM) $358.69 0.30%

Dow Jones - Fallers

Salesforce.Com Inc. (CRM) $185.21 -4.37%

Intel Corp. (INTC) $99.36 -1.63%

Amgen Inc. (AMGN) $405.95 -1.45%

International Business Machines Corporation (CDI) (IBM) $232.24 -1.39%

Unitedhealth Group Inc. (UNH) $408.38 -1.24%

Home Depot Inc. (HD) $349.84 -0.78%

McDonald's Corp. (MCD) $273.31 -0.48%

Visa Inc. (V) $366.86 -0.45%

American Express Co. (AXP) $347.43 -0.43%

Cisco Systems Inc. (CSCO) $121.44 -0.32%

S&P 500 - Risers

Helmerich & Payne Inc. (HP) $36.86 10.50%

Motorola Solutions Inc (MSI) $479.19 9.62%

Parker-Hannifin Corp. (PH) $1,088.06 9.52%

News Corp Class B (NWS) $34.54 7.08%

News Corp Class A (NWSA) $30.17 6.50%

Occidental Petroleum Corp. (OXY) $57.19 6.10%

Albemarle Corp. (ALB) $125.67 5.22%

MetLife Inc. (MET) $99.71 4.20%

Ralph Lauren Corp (RL) $400.00 3.22%

Carmax Inc. (KMX) $58.62 3.22%

S&P 500 - Fallers

TripAdvisor Inc. (TRIP) $11.22 -20.93%

Western Digital Corp. (WDC) $445.83 -17.82%

Coterra Energy Inc. (CTRA) $32.56 -8.62%

Kraft Heinz Co. (KHC) $25.17 -6.95%

Wynn Resorts Ltd. (WYNN) $101.36 -6.17%

Illumina Inc. (ILMN) $189.88 -5.77%

Ipg Photonics Corp. (IPGP) $90.27 -5.73%

Fortinet Inc. (FTNT) $160.81 -5.53%

DENTSPLY Sirona Inc. (XRAY) $13.54 -5.40%

Alphabet Inc. Class A (GOOGL) $362.62 -5.20%

Nasdaq 100 - Risers

Vodafone Group Plc ADS (VOD) $15.95 3.34%

eBay Inc. (EBAY) $111.21 2.63%

Apple Inc. (AAPL) $316.02 2.46%

Booking Holdings Inc. (BKNG) $208.71 2.33%

Mondelez International Inc. (MDLZ) $63.05 2.02%

Nvidia Corp. (NVDA) $222.88 1.62%

Costco Wholesale Corp. (COST) $953.64 1.45%

Marriott International - Class A (MAR) $361.37 1.33%

Skyworks Solutions Inc. (SWKS) $67.35 1.29%

O'Reilly Automotive Inc. (ORLY) $93.43 0.91%

Nasdaq 100 - Fallers

Western Digital Corp. (WDC) $445.83 -17.82%

Qvc Group Inc Series A (QVCGA) $0.34 -13.49%

Mercadolibre Inc. (MELI) $1,791.19 -7.35%

Kraft Heinz Co. (KHC) $25.17 -6.95%

Wynn Resorts Ltd. (WYNN) $101.36 -6.17%

Illumina Inc. (ILMN) $189.88 -5.77%

DENTSPLY Sirona Inc. (XRAY) $13.54 -5.40%

Alphabet Inc. Class A (GOOGL) $362.62 -5.20%

Alphabet Inc. Class C (GOOG) $360.71 -5.18%

Lam Research Corp. (LRCX) $303.03 -4.70%