02:23 PM EDT, 05/21/2026 (MT Newswires) -- US equity markets edged higher intraday and oil prices declined as traders tracked the latest on the Iran war, while technology bellwether Nvidia's ( NVDA ) shares slipped despite reporting stronger-than-expected first-quarter revenue.

The Dow Jones Industrial Average was up 0.5% at 50,256.6 after midday Thursday, while the Nasdaq Composite rose 0.3% to 26,345. The S&P 500 added 0.3% to 7,453.4. Most sectors were in the green, led by consumer discretionary, while consumer staples saw the biggest drop.

West Texas Intermediate crude oil was down 2.4% at $95.92 a barrel intraday, while Brent fell 2.5% to $102.39.

Iran's Supreme Leader, Ayatollah Mojtaba Khamenei, has issued a directive that the country's uranium should remain within the country, Reuters reported Thursday, citing two senior Iranian sources.

President Donald Trump reportedly said Thursday that the US will eventually recover Iran's stockpile of highly enriched uranium. Retrieving the uranium is a key objective of Trump's war on Iran.

Trump told reporters on Wednesday that negotiations with Iran had reached the final stages, though he warned of further attacks if Tehran backed out, according to several media outlets.

Iran is discussing setting up a permanent toll system with Oman to formalize its control of the Strait of Hormuz, Bloomberg News reported Thursday.

Treasury yields were mixed intraday, with the two-year rate up 2.4 basis points at 4.09% and the 10-year yield rate little changed at 4.59%.

Shares of Nvidia ( NVDA ) fell 1.2% intraday, among the worst performers on the Dow.

The chipmaking giant late Wednesday reported fiscal first-quarter revenue above Wall Street's estimates as data center sales outperformed expectations amid an artificial intelligence boom.

For the current quarter, Nvidia ( NVDA ) said it anticipates revenue of $91 billion, plus or minus 2%. The consensus indicated $87.29 billion.

"Nvidia ( NVDA ) has become so important that good is not enough," Saxo Bank said in a report. "Investors want proof that the cycle extends into 2027 and beyond, that margins can stay high, and that customers are not simply ordering ahead before the next chip transition."

Walmart ( WMT ) shares were down 6.9%, the steepest decline on the Dow and second-biggest on the S&P 500. The retail giant issued a fiscal second-quarter earnings outlook below market estimates, while it reported better-than-expected revenue in the previous three-month period.

Intuit's (INTU) stock plunged 20% intraday, the worst performer on the S&P 500. The financial technology platform late Wednesday reported better-than-expected fiscal third-quarter results and disclosed plans to reduce its workforce by about 17%.

Deere's (DE) fiscal second-quarter results exceeded analysts' expectations, while the company on Thursday affirmed its soft full-year earnings outlook amid continued pressure in global agricultural markets. The stock was 4.6% lower intraday, among the worst performers on the S&P 500.

Lifting interest rates may not be an appropriate response from the Federal Reserve to curb price pressures, Richmond Fed President Tom Barkin said in prepared remarks for an event in North Carolina.

"Raising rates to weaken demand doesn't address the root cause behind supply shock-driven inflation. It doesn't free up trade routes, reopen factories or melt ice," he said. "That said, I've been asking myself whether we've entered an era where supply shocks will become more frequent."

"With inflation above our 2% target for over five years now, it's worth asking whether the cumulative impact of so many waves risks loosening the anchor."

Fed officials at their April policy meeting flagged the possibility of higher interest rates if the Middle East conflict drags on and keeps inflation above the 2% goal, minutes from the meeting showed on Wednesday.

Ross Stores ( ROST ) , Take-Two Interactive Software ( TTWO ) , and Workday (WDAY) are among companies scheduled to release their earnings after the markets close.

Gold was up 0.2% at $4,545.90 per troy ounce, while silver rose 1.1% to $77.05 per ounce.