Closing Bell Movers: Markets on edge ahead of US-Iran talks

Reports that President Trump may be advocating for direct talks between Lebanon and Israeli negotiators to help preserve the Iranian ceasefire reversed the initial cautious sentiment in the markets on Thursday and helped the S&P 500 to notch its seventh consecutive gain.  Consumer Cyclicals and Industrials sectors were the top performers on the session as Energy lagged once again, with WTI Crude Oil pricing heading back below $100 per barrel after briefly rising toward $103.  The benchmark is now just over a percentage point away from the levels seen just prior to the strikes on Tehran in late February.  Likewise, the Vix volatility gauge has moved back below the key 20-level, though the rally in Treasuries has stalled in the wake of this morning’s PCE inflation report and ahead of Friday’s CPI data.  

In addition to macro data developments, investors are hopeful that the geopolitical uncertainty will continue to clear as talks between Iranian and U.S. negotiators begin on Friday.  Headlines from Thursday evening, however, suggest that there still may be some cause for concern – in a post on Truth Social, President Trump remarked that Iran is doing a “very poor job” on allowing oil through Hormuz.  In the opening hour, S&P e-minis are down by a decimal below $68.60, with WTI prices also bouncing back toward the $100 mark.

Check out this evening’s top movers from around Wall Street, compiled by The Fly.

HIGHER AFTER EARNINGS –

• Simulations Plus (SLP) up 12.5%

ALSO HIGHER –

• Cars.com (CARS) up 2.2% after cutting headcount by 11%, affirming guidance
• Rapport Therapeutics (RAPP) up 2.0% after being started at Strong Buy at Raymond James

DOWN AFTER EARNINGS –

• Beam Global (BEEM) down 11.1%
• FGI Industries (FGI) down 9.2%
• WD-40 Company (WDFC) down 0.5%