Stocks Broadly Down as Oil Prices Surge

Stocks spent the session broadly in the red as oil prices surged once again after the U.S. launched new strikes on Iran, with President Trump saying the ceasefire is "over." WTI crude oil futures settled at $73.52 per barrel, up over 4%, on fears that renewed hostilities and attacks near the Strait of Hormuz could disrupt global energy supplies. The rally boosted shares of oil producers, while weighing on airlines, cruise operators and other travel-related stocks that are sensitive to higher fuel costs.Meanwhile, the Federal Reserve released the minutes from its last meeting, in which it said a "few" members saw the case for a June rate hike, though those participants indicated that they supported maintaining the current target range at this meeting. Additionally, the Fed said in the minutes that most participants remarked on scenarios in which inflationary pressures would dissipate and inflation would soon begin to return to 2%. In such scenarios, almost all of these participants noted that it would likely be appropriate to maintain or eventually lower the target range for the federal funds rate.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:After U.S. Central Command launched strikes on targets in Iran in response to its attacks on commercial vessels passing through the Strait of Hormuz, U.S. President Donald Trump said that the U.S.Appleannounced awith Broadcomto design and produce custom silicon components and cutting-edge wireless connectivity technologiesDream Finders HomeshasBeazer Homesfor $32 per shareChina will allow top AI companies to buy some NvidiaH200 chips,A "few" Federal Reserve members said they saw the case for a June rate increase, though they also supported maintaining the current target range,2. WALL STREET CALLS:Dollar Treeto Outperform at Raymond James and to Neutral at Goldman SachsOccidentalto Outperform at Evercore ISIBarclaysCommunity Healthto Underweight while also downgrading HCA Healthcareand Universal Healthto Equal WeightBath & Body Worksto Sell at Goldman SachsJPMorganOllie's Bargain Outletto Neutral, sees Q2 miss3. AROUND THE WEB:Hunterbrook published a short report on Bloom Energy, though the company told Bloomberg it plans to "correct the record"OpenAI will publicly launch GPT-5.6, its most advanced AI model, on Thursday following a delay last month prompted by U.S. government requests over heightened national security concerns about the potential misuse of powerful AI technologies, Reuters saysJPMorgan Chaseis planning to target small-company deals, establishing a new team of investment bankers focused on small-cap companies valued between $100M-$500M, WSJ reportsSK Hynix's$28B ADR offering is seeing strong investor demand, with orders oversubscribing the deal ahead of pricing and allocation later in the week, Reuters saysLast week, Tate Bennett, chief of staff for USDA Secretary Brooke Rollins, spoke with grocers including Walmart, Kroger, and Albertsonsasking about their prices for beef heading into the holiday weekend, WSJ reports4. MOVERS:Prime Medicinegained after the company reported awith Beam TherapeuticsPenguin Solutionswas higher afterand increasing its guidance for FY26Redwireincreased after appointing Paul Reichert and Niki WerkheiserFuelCellwas lower after announcing aNavitasfell after Wolfspeedfiled aagainst the company5. EARNINGS/GUIDANCE:Helen of Troyand reaffirmed its guidance for FY27Sono-Tek, with the company commenting, "Fiscal 2027 is off to a strong start"Palladyne AIreportedHyperscale Databacked itsEnerpac Toolsand raised its guidance for FY26INDEXES:The Dow fell 576.76, or 1.09%, to 52,348.39, the Nasdaq gained 51.96, or 0.20%, to 25,870.65, and the S&P 500 declined 21.14, or 0.28%, to 7,482.71.