Stock Market Update
10-Aug-26 09:55 ET
Stocks modestly lower as oil climbs
Dow -62.29
at 53974.64,
Nasdaq -68.16
at 26643.47,
S&P -3.86
at 7753.78
[BRIEFING.COM] The S&P 500 (-0.1%), Nasdaq Composite (-0.3%), and DJIA (-0.1%) are modestly lower as a quiet premarket session has carried over into a subdued open.
Stocks are mostly lower, with rising oil prices contributing to some weakness throughout the market. After a big retreat last week, crude oil is currently up $2.68 (+3.42%) to $80.85 per barrel. While President Trump stated the U.S. will reduce military attacks against Iran in favor of a more economy-based approach, Iran has reiterated that its agreement to reopen the Strait of Hormuz is contingent on the U.S. permanently ending the war and paying reparations.
Elsewhere, the health care (+0.58%) and financials (+0.5%) sectors hold modest gains, while the eight other S&P 500 sectors move lower.
The top-weighted information technology sector (-0.4%) is modestly lower amid some early weakness in the PHLX Semiconductor Index (-1.1%). Additionally, Apple (AAPL 306.74, -6.59, -2.10%) is a mega-cap laggard following a downgrade to Underperform from Hold at Jefferies.
The real estate (-1.3%) and utilities (-1.0%) sectors hold the widest losses as Treasury yields move higher with oil this morning, with both sectors remaining among the weakest performers so far in August.
