Stock market update: Which stocks went up, which stocks went down as Iran conflict sent oil to $90?

The U.S.-Israel and Iran conflict sent shockwaves through the stock markets globally as the conflict entered its eighth day.

Dow Jones Industrial Average reported its worst weekly performance in nearly a year as oil prices surged past $90 per barrel. Additionally disappointing job report also contributed to the fall.

The Dow fell 453 points (1%), closing at 47,501.55, while the S&P 500 dropped 1.3% to 6,740.2.

Stocks that went up

Major industries that are benefiting from the current Middle East crisis are oil and gas producers and services, defense and aerospace, LNG exporters, safe-haven assets, and shipping firms, specifically tankers.

Energy & Oil Stocks

• Exxon Mobil (XOM): Gained more than 1% as crude surged
• Chevron (CVX): Rose over 1% alongside oil prices
• Occidental Petroleum (OXY): Climbed 3.3%
• Diamondback Energy (FANG): Advanced 1.6%, leading the energy sector

Fertilizer stocks (benefiting from supply disruptions through Strait of Hormuz)

• CF Industries: Surged 5% to a fresh 52-week high; up 17% for the week
• Intrepid Potash: Jumped 9%, also hitting a 52-week high; up nearly 17% week-to-date
• Nutrien: Added 2%

Merger and acquisition targets

• Day One Biopharmaceuticals (DAWN): Soared 66% after Servier announced $2.5 billion acquisition at 68% premium
• AI and semiconductor winners
• Marvell Technology (MRVL): Jumped 18% on strong quarterly results and AI-driven outlook
• Ciena (CIEN): Rose nearly 3% after Bank of America upgrade

Aerospace and defense

• Boeing (BA): Popped nearly 4% on report of potential 500-plane deal with China

Defensive consumer stocks

• Costco Wholesale (COST): Rose 1.6% after beating earnings estimates
• Walmart (WMT): Outperformed broader market (dividend aristocrat)
• McDonald's (MCD): Held up better than indexes (dividend aristocrat)
• Clorox (CLX): Outperformed (dividend aristocrat)

Gold and precious metals

• Gold futures: Up 1.7% to $5,165/ounce
• Silver futures: Up 2.5% to $84.25/ounce

Which stocks went down?

The industries that are facing huge losses due to the escalating U.S.-Israel and Iran conflict are airlines and aviation, travel and tourism, logistics, semiconductors/ chips manufacturing, and financial services like Barclays, Standard Chartered, and HSBC.

Airlines and cruise operators (hit by fuel cost concerns)

• United Airlines: Tumbled nearly 4% after CEO warned oil spike will have "meaningful" impact
• Delta Air Lines: Lost 4%
• Southwest Airlines: Dropped 6%
• American Airlines: Fell 5.2%
• Royal Caribbean: Dropped 1% (down more than 10% for the week)
• Carnival: Fell about 6%
• Norwegian Cruise Line: Dropped about 6%

Bank Stocks (yield curve steepening compresses margins)

• Western Alliance Bancorp: Plunged nearly 12%
• Rocket Companies: Fell 4%
• ServisFirst Bancshares: Dropped nearly 5%
• Jefferies Financial Group: Tumbled 13.5%
• SPDR S&P Bank ETF (KBE): Fell 3.6% (all 101 stocks in the ETF were down)

Retailers and consumer goods

• Gap (GAP): Plunged 14% after Q4 earnings narrowly missed estimates
• Bloom Energy (BE): Tumbled 15.5%
• AXT Inc: Dropped 16.5%
• Tech and semiconductor
• NVIDIA (NVDA): Fell 3%
• Intel (INTC): Dropped 5.5%
• Lumentum Holdings: Plunged 14.2%
• Aehr Test Systems: Fell 12%

Materials and industrials (S&P 500 materials sector down 7% for the week)

• PPG Industries: Down more than 12% for the week
• Freeport-McMoRan: Down more than 12% week-to-date
• CRH: Down 11% for the week
• Vulcan Materials: Down 10% for the week
• Caterpillar: Down more than 3% Friday

Asset Managers

• BlackRock: Dropped 7% (worst day since April) after limiting fund withdrawals

Experts are now predicting an even more serious downfall amid the precarious landscape of rising energy costs, weakening employment, and geopolitical uncertainty.