US stocks closed mixed on Thursday after a session dominated by oil-price volatility produced no clear trend. The Dow Jones Industrial Average fell 0.31 percent to 51,349.98 points. The S&P 500 edged down 0.02 percent to 7,704.13, while the Nasdaq 100 rose 0.03 percent to 30,478.85.
Oil prices initially spiked after a senior Iranian government official warned that the geopolitical situation in the Middle East could escalate further and spread to additional regions, fueling higher bond yields and inflation concerns. The advance was later curtailed following a Reuters report stating that the United States and Iran were holding talks in New York over a phased plan to reopen the Strait of Hormuz, with the US potentially lifting its economic blockade on Iran in return. Oil prices recovered to their earlier highs by late trading.
Among individual stocks, Meta gained 4.5 percent to $777.59, reaching its highest level in more than a year and approaching its all-time record of roughly $796 set in summer 2025. The company's market capitalization rose approximately 35 percent during September to nearly $2 trillion. Meta has benefited from strong reception of its AI assistant Muse and unveiled new partnerships, including with Walmart, Best Buy and Shopify, alongside an announcement for a new smart-glasses product. Several analysts upgraded their price targets on the back of the news.
Oracle dropped 3.5 percent. According to Bloomberg citing insider sources, the software and database maker is taking steps to shield itself from rising costs on a large data center under construction in New Mexico, which has faced construction obstacles and regulatory setbacks. Oracle issued a force-majeure notice to the project developer that could allow it to defer payments if the facility is not operational by 2028 as planned.
Dropbox fell 4.6 percent after Citigroup analyst Steven Enders recommended selling the stock, arguing it had priced in too much regarding the cloud-storage provider's AI strategy. The share had touched its highest level since its 2018 IPO a few days earlier.
MGM Resorts declined 11 percent after People Inc, which holds a minority stake in the hotel and casino operator, withdrew its takeover offer for the remaining shares. Everpure surged more than 11 percent, buoyed by what it described as a positive medium-term revenue outlook.
