U.S. stocks edged lower Thursday as investor sentiment soured after President Donald Trump stopped short of ruling out a potential military intervention in Iran, lifting crude prices for a second straight session.

Speaking at the Board of Peace, Trump said the U.S. could "take it a step further, or not," adding that markets should learn more about Iran within the next 10 days.

Front-month West Texas Intermediate futures jumped 2.5% to $66.65 a barrel by midday trading in New York, extending Wednesday's nearly 5% surge and hitting the highest levels since early August 2025.

Major indexes moved modestly lower. The S&P 500 slipped 0.3%, while Nasdaq 100 and Dow Jones Industrial Average each fell about 0.5%.

Energy stocks led sector gains, rising 0.8% alongside crude, while financials lagged the broader market.

Among earnings movers, shares of Occidental Petroleum Corp. (NYSE:OXY) jumped 9%, the company’s best session since August 2022, after earnings beat estimates.

Deere & Company (NYSE:DE) jumped 12.6%, its biggest daily gain since March 2020, lifting month-to-date gains to 27%. That puts the industrial heavyweight ...