On Thursday, U.S. stocks closed mixed as the market reacted to rising oil prices and geopolitical tensions involving Iran. The S&P 500 gained 7.26 points (0.11%) to finish at 6,582.58 points, while the Dow Jones Industrial Average dropped 61.23 points (0.13%) to 46,504.51 points. Investor sentiment improved in the afternoon following reports that Iran is working with Oman to manage traffic through the Strait of Hormuz, easing fears of prolonged disruptions to global oil supplies. Oil prices surged, with U.S. crude rising 11% to around $111 per barrel, while Brent crude closed up about 7% near $108. Despite this, traders expect the disruptions to be temporary, pricing oil at about $82 per barrel for October delivery. The market showed caution, favoring utilities, which typically offer steady earnings, while consumer discretionary stocks, particularly Tesla, faced declines. Investors are also awaiting Friday's nonfarm payroll numbers after a drop in weekly jobless claims, although U.S. markets will be closed for the long holiday weekend.