Finance

Major American stock indexes closed mixed after undergoing multiple intraday reversals on Thursday. The Dow Jones Industrial Average fell for a third consecutive session, dropping roughly 0.3%, while the S&P 500 and the Nasdaq Composite managed to bounce off their session lows to finish virtually unchanged. Market participants remain rangebound as they balance robust domestic business activity against the backdrop of persistent inflation and high interest rates.

International energy benchmarks experienced volatile trading, with Brent crude futures surging past $105 per barrel. Energy prices briefly pared their gains following media reports that diplomatic negotiators from Washington and Tehran are exploring a phased agreement to reopen the Strait of Hormuz in exchange for easing economic blockades. However, ongoing supply anxieties stemming from the prolonged Middle East conflict continue to keep crude prices significantly elevated.

A high-stakes meeting between U.S. President Donald Trump and Chinese President Xi Jinping captured Wall Street's attention as the two nations discussed critical issues spanning trade, artificial intelligence, and manufacturing. Prior to the talks, the U.S. Treasury confirmed that the existing bilateral trade truce would be extended into mid-January. This strategic delay successfully avoids a series of escalating tariffs that were originally scheduled to take effect in November.