Major Averages Decline Again Amid Geopolitical Risks

The major averages turned lower once again following two days of gains as investors balance oil prices against still-elevated geopolitical risk. The move follows a series of volatile sessions where markets have swung sharply based on headlines tied to the Middle East conflict and energy supply disruptions. Reports of fresh attacks on Iranian energy infrastructure have already caused intraday swings in both oil and equity futures.Meanwhile, traders are focused on the upcoming rate policy decision from the Federal Reserve, which is anticipated to maintain interest rates but could alter its forward guidance in response to the recent energy-driven inflation shock. Oil has been climbing once again, while gold has dropped below $4,900 per ounce.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:General Millsreportedand reiterated its FY26 outlookMacy'sreportedand revenue and provided guidance for FY26Lululemonreportedand provided its outlook for Q1 and FY26Coupangannounced its collaboration with Nvidiahas helped it createInspireMDreported2. WALL STREET CALLS:CitiConstellationto Buy on better beer trendsTruistBlockto Buy following 40% reduction in forceTrade Deskat Rosenblatt and Stifel amid pressures from agenciesRBC CapitalStarbucksto Sector Perform on balanced risk/rewardCF Industriesto Underperform at Mizuho3. AROUND THE WEB:Metahas failed to stop illegal ads for high-risk financial products running on its platforms in Britain, Reuters saysMicrosoftis weighing legal action against Amazonand OpenAI over a $50B deal that may breach its exclusive cloud partnership with OpenAI, FT reportsThe U.S. government confirmed that Teslais the customer behind LG Energy Solution's $4.3B LFP battery supply deal, ending speculation since the contract was disclosed last July, Electrek saysGoogleis in discussions with Envicool and other Chinese firms on buying liquid cooling equipment for data centers, Reuters reportsNebiusintends to raise about $3.75B in convertible debt to use for its data center expansion and to purchase customized chips, and plans to offer the notes in two series, at $2B due in 2031 and $1.75B in 2033, Bloomberg says4. MOVERS:Ovid Therapeuticsgains afterPhase 1 clearance for OV4071, and results for Q4Nextnavand Energy Vaultincreases afternVent Electrichigher in New York after updating its three-yearGeminilower after Citithe stock to SellSailPointfalls afterand providing guidance for FY275. EARNINGS/GUIDANCE:Williams-Sonomaand provided guidance for FY26Spire Globaland provided guidance for Q1 and FY26Jabiland raised its guidance for FY26Weibo, with EPS missing consensusOrbit International, with EPS and revenue lower year-over-yearINDEXES:Near midday, the Dow was down 0.90%, or 424.40, to 46,568.86, the Nasdaq was down 0.55%, or 125.44, to 22,356.75, and the S&P 500 was down 0.56%, or 37.51, to 6,678.58.