Wall Street Pauses as Oil Surges and Tesla Stumbles

 

U.S. stocks stalled on Thursday as investors weighed a sharp rise in oil prices against a wave of fresh corporate earnings. Futures tied to the Dow Jones Industrial Average and the S&P 500 hovered near the flat line, while the Nasdaq 100 also showed little movement.

Energy markets took center stage after oil futures jumped more than 5% following new U.S. sanctions on Russian producers, pushing Brent crude toward $66 a barrel and West Texas Intermediate closer to $62. The surge added pressure to inflation concerns already weighing on Wall Street.

On the corporate front, Tesla shares slipped over 3% in premarket trading after the electric vehicle maker posted mixed third-quarter results, disappointing investors and kicking off the “Magnificent Seven” earnings cycle. IBM stock also dropped about 7%, as stronger-than-expected profits were overshadowed by weaker software revenue.

Traders are now awaiting results from American Airlines and T-Mobile, with Intel set to report after the closing bell. The cautious tone reflects a market balancing geopolitical risks, commodity shocks, and uneven earnings performance.