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Oil falls 0.5% to $77.61 per barrel, S&P 500 up 0.4%, 10‑yr Treasury yield at 4.55% – see why markets steadied amid Middle East tension.
Lede
Brent crude slipped 0.5% to $77.61 a barrel on Thursday, while the S&P 500 rose 0.4%, as investors digested fresh US airstrikes on Iran and President Trump’s remarks questioning the durability of the cease‑fire.
At a glance
| At a glance | |
|---|---|
| Brent price | $77.61 per barrel (down 0.5% from $78.02) |
| S&P 500 | +0.4% (recovering from prior‑day loss) |
| 10‑yr Treasury yield | 4.55% (down 0.01 pts) |
| Nasdaq Composite | +0.5% |
Market drivers
The modest pull‑back in Brent came after the price surge that had lifted it above $78 the day before, but it remained well above the $71.80 level recorded at the end of the previous week. The decline coincided with renewed US airstrikes on Iran, which raised concerns that a full‑scale conflict could choke oil shipments through the Strait of Hormuz and reignite inflation pressures. Higher oil prices historically push central banks toward tighter policy, a scenario that can dampen equities.
Equity response
U.S. equities steadied despite the geopolitical flare‑up. The Dow Jones Industrial Average added 141 points (0.3%) and the Nasdaq rose 0.5%, helped largely by a 7.1% jump in Micron Technology, which cited “surging demand for memory in the AI era” and progress on a massive New York chip fab. In South Korea, the Kospi climbed 0.6% after a 5.3% surge in SK Hynix shares, reflecting continued investor appetite for AI‑related semiconductors.
Broader context
Bond yields eased slightly, with the 10‑year Treasury slipping to 4.55% from 4.56% on Wednesday, easing the pressure that had built from earlier oil‑price spikes. Meanwhile, gasoline prices halted their recent decline; the average regular‑gasoline pump price rose to $3.85, up 68 cents year‑over‑year, according to AAA. Across Europe and Asia, major indexes posted gains—Shanghai up 1.7% and Paris up 0.7%—while Hong Kong’s Hang Seng fell 0.7% after Luxshare’s debut loss.
The market’s calm reflects a balance between geopolitical risk and the continued strength of AI‑driven tech stocks. Whether oil‑price pressures or earnings surprises will tip the scales remains to be seen.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 2 outlets · Jul 9, 2026 · How we report
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