Major US Averages Broadly Lower as Oil Prices Rise

The major averages were broadly lower near noon following several mixed sessions. Concerns remain about the Federal Reserve's future policy path as commodity prices, especially oil, are pushing higher due to geopolitical headlines. Of note, Federal Reserve governor Christopher Waller, who was reportedly interviewed by President Trump to be the next Fed chair, said he still favors additional rate cuts.Energy markets are notable, with oil climbing following a U.S. order to block sanctioned Venezuelan tankers, a development that has lifted energy stocks and contributed to broader risk-asset support. Silver and gold have also moved higher as precious metals benefit from expectations of easier monetary policy and ongoing economic uncertainty.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Warner Bros. Discovery'sboard unanimouslyParamount Skydance'soffer for the company, saying the terms of the Netflixdeal are "superior"Courserawith Udemyin an all-stock transactionGeneral Millsreportedand reiterated its FY26 outlookJabilprovided areport for Q1Lennarreported2. WALL STREET CALLS:Telsey AdvisoryVictoria's Secret, Gapand Urban Outfittersas part of a year-ahead note for the retail groupJefferiesProcter & Gambleand Church & Dwightupgraded to BuyAirbnbto Outperform at RBC CapitalFortinetto Underweight at JPMorganKeurig Dr Pepperand Constellation Brandsto Hold at Jefferies3. AROUND THE WEB:Alphabet'sWaymo business is in talks to raise over $15B at a valuation close to $100B in a round led by its parent company,Blue Owl Capitalwill not proceed with backing a planned $10B, 1-gigawatt Oracledata center in Michigan intended to serve OpenAI after negotiations stalled amid concerns over Oracle's rising debt and AI spending,As a penalty for misleading consumers about driver-assistance technology, California sales of Teslawill be suspended for 30 days,BBVAis considering large share buybacks as it seeks to return capital to shareholders following its failed bid for Banco Sabadell,CoupangCEO and Chairman Bom Kim failed to appear before a parliamentary hearing in Seoul on Wednesday over the company's recent data breach,4. MOVERS:DBV Technologiesincreases in New York after reporting VITESSE trialRecursion Pharmaceuticalsgains after JPMorganthe stock to OverweightHut 8higher afterwith Anthropic and Fluidstack for AI infrastructureKyvernafalls after announcing aImmunomelower after announcing an5. EARNINGS/GUIDANCE:ABMand provided guidance for FY26Toro Company, with EPS and revenue beating consensusSCHMID, with EPS lower year-over-yearSteel DynamicsProgressive, with EPS lower year-over-yearINDEXES:Near midday, the Dow was down 0.18%, or 86.44, to 48,027.82, the Nasdaq was down 1.25%, or 288.31, to 22,823.15, and the S&P 500 was down 0.79%, or 53.79, to 6,746.47.