Both the S&P 500 (SPX) and the Nasdaq 100 (NDX) are trading lower on Thursday amid rising oil prices and a concerning development coming out of Iran.
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Iranian Supreme Leader Ayatollah Mojtaba Khamenei has stated that the country’s stockpile of highly enriched uranium will remain inside the country, two Iranian officials told Reuters. That contrasts with the position of the U.S. and Israel, which have pushed for Tehran to move its stockpile to a third country as part of any agreement.
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Fox News White House correspondent Aishah Hasnie pushed back on the report, citing a source directly involved in the negotiations who said the claim that Iran would refuse to transfer its stockpile is false.
Elsewhere, consumer defensive stocks are dragging the market lower, with Walmart (WMT) leading the sector to the downside following a disappointing earnings report. On the other hand, semiconductor and memory chips have rallied higher from their morning lows as investors digest Nvidia’s (NVDA) results.