The S&P 500 fell 1.8%. The Dow Jones Industrial Average lost 1.1%. Alphabet posted its weakest advertising revenue growth in five quarters. E-commerce sales growth at Amazon slowed to the lowest level in three years.

Is "price stability" destined to be a "transitory"-type white whale for Fed Chair Kevin Warsh amid rising upward pressures on inflation?

The S&P 500 quietly celebrated the start of the bull market's fourth year, but volatility could pick up as earnings season starts and inflation data rolls in.

U.S. stocks finished mixed Thursday, with the S&P 500 down 0.5% at 7,765 and the Nasdaq Composite falling 1.3% to 27,193 as tech shares slid on concerns tied to an OpenAI revenue gap. The Dow Jones Industrial Average edged up 0.1% to 51,231. Treasury yields moved lower, with the 2-year at 4.753%, the 10-year at 5.227% and the 30-year ending at 5.602% after touching a 24-year intraday high. WTI crude rose 3.6% to $91.49 a barrel amid media reports about potential U.S. military operations against Iran.

Middle East tensions weighed on risk sentiment as the U.S.-Iran standoff persisted, after President Donald Trump said Iran’s proposal was unacceptable. Front-month WTI crude futures rose 0.8% to $93.16 a barrel. Treasury yields climbed across the curve, with the 2-year yield hitting a 52-week high. U.S. stocks closed lower, with the Dow down 0.7%, the S&P 500 down 0.8%, and the Nasdaq down 0.9%.

The Federal Reserve raised rates, lifting the federal funds target range to 3.75% to 4.00%. U.S. stocks came under pressure, with the Dow Jones Industrial Average down 631 points, or 1.2%, while the S&P 500 fell 0.5% and the Nasdaq Composite was little changed. Near-month West Texas Intermediate crude slid 3.7% as Middle East supply pressures eased and U.S. demand data came in below expectations.

The Dow Jones Industrial Average fell 628 points after an unexpectedly strong August jobs report pushed U.S. Treasury yields higher and raised expectations of a September rate hike. Yields on the 2-year, 10-year and 30-year Treasuries all edged up. WTI crude futures climbed 2.4% to $93.65 a barrel on reports of war-related damage to energy infrastructure near the Strait of Hormuz, while Brent briefly neared $100.

Major U.S. stock indexes traded in a narrow range on Wednesday as investors waited for Nvidia’s earnings report. The Fed’s preferred inflation gauge, the July PCE price index, rose 0.2% month over month and 3.7% year over year, slightly above expectations, while core PCE matched forecasts. Rate futures continued to imply about a 60% chance the Federal Reserve keeps rates unchanged next month, according to CME Group’s FedWatch.

U.S. stocks surged as markets reacted to expectations of a shift in Trump’s policy stance. The Dow closed at a record 53,178, while the S&P 500 rose 1.5% to 7,600 and the Nasdaq gained 2.1%. WTI crude futures fell more than 6% to $79.49 a barrel and Treasury yields declined across maturities. Boeing shares rose nearly 5% after its second-quarter results pointed to improving earnings and cash flow, and 77% of companies have beaten expectations.