Dow Jones Drops Over 400 Points Amid Oil Price Surge

The major averages were lower near noon, but well off earlier lows, amid the continued spike in oil prices due to the war in Iran and fears of broad stagflation. The Dow Jones Industrial Average is down over 400 points to start the week following its biggest weekly slide in nearly a year, though the index is still off sharper declines earlier in the session and the Nasdaq has almost come back to unchanged.Oil futures were surging after Middle East producers cut their output amid the continued closure of the key Strait of Hormuz passageway. Meanwhile, the Financial Times reported that G7 officials are considering tapping into the strategic reserves.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Hims & Hersreached a pact with Novo Nordiskto bringto its platformLive Nationis near a settlement with the U.S. Department of Justice under which it may avoid selling Ticketmaster,Meanwhile, New York AG Letitia James said the DOJ settlement with Live NationUniversal HealthTalkspacefor $5.25 pere shareStrategyacquired2. WALL STREET CALLS:Verizonto Outperform from Sector Perform at ScotiabankGE Vernovato Buy from Sell at Rothschild & Co RedburnuniQureat RBC Capital and Wells Fargo after news of Vinay Prasad leaving FDAJefferies Financialto Equal Weight at Morgan StanleyStarbucksto Peer Perform at Wolfe Research as a new analyst took over coverage3. AROUND THE WEB:Airbus (EADSY) is debating on a joint bid with Rheinmetalland OHB to build an internet service for the Bundeswehr armed forces, Bloomberg reportsTencentplans to invest several hundred million dollars on Paramount Skydance'sacquisition of Warner Bros Discovery, Bloomberg reportsKKRis working on a sale of CoolIT Systems, hoping to fetch a price tag in excess of $3B, The Financial Times reportsSamsung'sconsumer device chief TM Roh says the company is "open to strategic co-operation" with more AI groups, FT reportsSamsung and SK Hynixhave been chosen as the sole suppliers of sixth-generation HBM4 for Nvidia'snext flagship AI accelerator, Vera Rubin, over Micron, KED says4. MOVERS:Xene Pharmaceuticalsgains in New York after announcing its Phase 3 X-TOLE2 studyRelmadaincreases after reporting 12-monthfor NDV-01Dianthushigher afterand announcing an early GO decision based on its Phase 3 trial of claseprubartOric Pharmaceuticalsfalls after rival drugmaker Ipsenannounced it isin all indications from all Ipsen marketsFuelCelllower after5. EARNINGS/GUIDANCE:Nayax, with CEO Yair Nechmad commenting, "Nayax delivered strong 2025 results and a very solid fourth quarter"Korn Feryand provided guidance for Q4ARS Pharmaceuticals, with EPS and revenue beating consensusSignet Jewelersfor Q4 and FY26Genius Groupand provided guidance for FY26INDEXES:Near midday, the Dow was down 0.88%, or 419.57, to 47,081.98, the Nasdaq was down 0.08%, or 16.97, to 22,370.71, and the S&P 500 was down 0.49%, or 32.87, to 6,707.15.