US Stocks Mixed as Oil Jumps, Fed Holds Rates Before Earnings

US equities closed mixed amid volatile trading on Wednesday as oil prices surged and a standoff between the US and Iran over the Strait of Hormuz escalated. Investors also assessed a split policy decision by the Federal Reserve while awaiting earnings from four megacap companies that were released after the bell.

The S&P 500 Index finished almost unchanged in New York, as declines in industrials and healthcare names outweighed gains in energy stocks. Nvidia Corp. and Microsoft Corp. were the biggest decliners on a point basis. The tech-heavy Nasdaq 100 Index gained 0.6%. Brent crude jumped 8% to around $120 per barrel.