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US stocks moved in a tight range on Thursday after record closes in the previous session. Traders balanced higher oil prices, fresh labor data, and a new round of company results. The S&P 500 stayed near the 7,000 mark after closing at a record 7,022.95 on Wednesday, April 15, 2026.
Wednesday’s finish marked the first close above 7,000 and the fifth record high of 2026. The NASDAQ Composite also set a record close at 24,016.02, while the Dow ended slightly lower.
Major US indexes swung between small gains and losses in early trading. Energy shares and some defensive groups offered support, while parts of technology turned mixed after a strong run. Market action slowed after a rally pushed the NASDAQ into an 11-session winning streak and lifted the S&P 500 to a new high.
Several market analysts flagged stretched conditions after recent gains. Matt Maley of Miller Tabak + Co. said indexes hit records despite “poor” breadth and added they are “becoming overbought.” Trading volumes also remained light, which kept attention on whether recent gains came from new buying or short covering.
Labor data gave traders another fresh data point. US initial jobless claims fell to 207,000 in the week ending April 11, down from a downwardly revised 218,000 a week earlier. Economists estimated 215,000, while continuing claims rose to 1.818 million, showing layoffs remain low even as hiring stays measured.
Oil prices moved higher as traders tracked Iran headlines and shipping conditions around the Strait of Hormuz. Brent crude rose about 3.5% and traded near $98 a barrel during the session, with some reports noting moves above $100 at points during volatile trading. Supply concerns stayed active as energy flows from the Persian Gulf remained restricted.
Hope for lower geopolitical risk remained part of the market story. Reports pointed to a possible extension of a ceasefire arrangement involving the United States and Iran, though no firm date or venue had been secured for another round of talks. Investor sentiment also drew support from news around a 10-day Israel-Lebanon ceasefire set to begin at 5 p.m. ET on Thursday.
Treasury yields held near recent levels after the jobless claims report. Reports said the 2-year yield hovered near 3.76%, while the 10-year yield stayed near 4.28%. Gold and silver also moved higher as traders kept one eye on oil and another on safety trades.
Quarterly results produced sharp moves across banks, food, healthcare, and chip-linked names. Gains in a few large stocks helped offset weakness in others, which left broader indexes near flat levels. Company updates during Thursday’s session included:
BNY rose after first-quarter net income increased to $1.63 billion, or $2.24 per share, from $1.22 billion, or $1.58 per share, a year earlier. Revenue reached a record $5.4 billion, fee revenue climbed to $3.77 billion, net interest income rose 18% to $1.37 billion, and the board approved a new $10 billion share buyback.
Charles Schwab slipped after revenue came in at $6.48 billion, slightly below the $6.50 billion analysts expected. Net income rose 33.5% to $2.4 billion, earnings per share reached $1.37, and total client activity remained strong.
PepsiCo gained after sales and profit topped expectations, helped by stronger snack demand.
Abbott Laboratories fell after cutting its full-year profit forecast.
Taiwan Semiconductor Manufacturing declined in US trading even after forecasting more than 30% sales growth in US dollar terms for 2026.
Applied Materials and Lam Research advanced after reports said Elon Musk’s team sought supplier quotes for the Terafab chip project.
Wall Street entered Thursday’s session with strong weekly gains already in place. The S&P 500 had risen about 3% for the week through Wednesday, while the NASDAQ had gained nearly 5%. Oil, yields, and earnings now shape short-term direction as traders weigh whether records can hold near current levels.
Attention remains fixed on three areas: progress in US-Iran talks, moves in crude prices, and the next batch of earnings. Any change in any of those areas could shift sentiment quickly. For now, US stocks remain near record territory, but Thursday’s trading shows a calmer pace after a strong rebound.
Also Read: US Stock Market Today: NASDAQ 100 Eyes Longest Winning Streak Since 2021 as Oil Prices Slide Further
