NEW YORK (AP) — Oil prices are clawing back some of their sharp drops from earlier in the week on Thursday, but U.S. stocks are remaining near their records as companies like Dollar Tree, Snowflake and Hormel Foods keep piling up profits.
The S&P 500 edged down by 0.1% from its all-time high set the day before. The Dow Jones Industrial Average was down 219 points, or 0.4%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 0.2% lower after both indexes also set records the day before.
Stocks appear to be less beholden to swings in the oil market, where prices climbed Thursday following the latest threat to the ceasefire in the United States' war with Iran. U.S. Central Command said Kuwait had intercepted missiles launched by Iran late Wednesday night, following earlier "defensive" strikes by the U.S. military on missile launch sites and minelaying boats in southern Iran.
