U.S. Major Indexes See Mixed Trading
On Monday, August 10, 2026, the major U.S. stock indices closed with little change, influenced by persistent doubts regarding a timely resolution to the conflict between the U.S. and Iran. The S&P 500 finished the session down 0.06%, settling at 7,753.11. Meanwhile, the Nasdaq Composite experienced a decline of 0.32%, closing at 26,605.36. The Dow Jones Industrial Average also dipped slightly, losing 60.95 points, or 0.11%, to close at 53,975.98.
Geopolitical Tensions and Energy Markets
Uncertainty surrounding the Strait of Hormuz contributed to market volatility, particularly in energy futures. Oil prices rose on Monday. U.S. West Texas Intermediate (WTI) crude futures climbed approximately 5.1%, reaching $82.13 per barrel. Concurrently, the international benchmark Brent crude futures saw a 5% increase, settling at $87.72. These price movements occurred even as geopolitical tensions persisted.
The uncertainty was underscored by differing statements from key figures. While Iran has indicated progress toward a deal with Oman to reopen the Strait of Hormuz, Foreign Minister Abbas Araghchi stated that Tehran would continue to reject direct negotiations with the U.S. until specific conditions are met. According to Tasnim News Agency, a semi-official outlet linked to the Islamic Revolutionary Guard Corps, Araghchi noted there was “no possibility of restarting negotiations” unless the U.S. compensated for its perceived “violations” of the June memorandum of understanding.
In contrast, President Donald Trump told Axios on Sunday that the U.S. was only “semi-negotiating” with Iran and aimed to maintain economic pressure on the Middle Eastern country.
Technology and Corporate Stock Movements
The technology sector saw notable movement. Intel, specifically, was a significant laggard, dropping 4% after announcing plans to issue $15 billion in common stock. Other tech stocks that faced declines included Nvidia, which dropped 2.9%, and Apple, which fell 1.5%.
Analysts provided varying views on market momentum. Jonathan Krinsky of BTIG suggested that the market’s recent rally might be slowing, comparing the current run-up to a previous cycle. He observed that “a lot of areas in the market outside of tech rallied during the unwind of the momentum trade in July, and those areas have continued to move higher as the momentum trade has recovered.”
Regarding the broader market outlook, Evercore ISI noted that the odds of the S&P 500 reaching 9,000 appear stronger, according to strategist Julian Emanuel. Emanuel wrote, “Rather, the odds for our bull case SPX 9,000 have strengthened. Elements that ‘kill’ a bull market, true FOMO, are still in front of us. But as it was in 1999, more upside will be driven by more volatility.”
Stock Movers and Financial Ratings
Several stocks made dramatic moves during the session. MarineMax surged 46% after agreeing to a sale to Blackstone Infrastructure’s Safe Harbor Marinas for $1.5 billion, expected to close by the end of 2026. Similarly, Varex Imaging climbed 48% after Teledyne Technologies agreed to acquire the company for $18.90 a share, with the deal anticipated to close in early 2027.
In corporate finance, Wells Fargo moved to an underweight rating on Doximity, following its significant rally. Analyst Stan Berenshteyn noted that while the stock surged over 32% on Friday, the company’s reliance on an “AI narrative that is difficult to translate into estimates” made the risk/reward unfavorable. Despite the sell-off, the stock was down more than 41% in 2026.
Other sector highlights included:
- Broadcom: Mizuho noted that Broadcom’s opportunity in custom AI chips was expanding beyond Google to include Meta, OpenAI, Anthropic, and Apple. Mizuho analyst Vijay Rakesh suggested that advanced packaging technologies could unlock much higher TPU/ASIC production by 2028.
- SpaceX: The company’s shares briefly rebounded to its $135 IPO price following a revenue beat for the second quarter. Citi reiterated a $200 price target, while Deutsche Bank Research set a $235 target, suggesting a “fast path” to a $100 billion annualized revenue run rate.
- Berkshire Hathaway: Shares rose 2.3% after Berkshire announced a 16% increase in second-quarter operating earnings, which were supported by strong energy and railroad sectors. The company also accelerated its capital deployment, repurchasing about $4.5 billion of its own shares during the quarter.
Economic Commentary
Experts addressed broader economic concerns. Professor Jeremy Siegel pointed out that disappointing productivity growth is a key factor contributing to public dissatisfaction with the economy, as real wage gains are struggling to keep pace with inflation. He noted that productivity growth has been below the 15-year average.
Meanwhile, in Asian markets, the sentiment was generally positive. Japan’s Nikkei 225 gained 2.1%, while Hong Kong’s Hang Seng index increased by 1%. South Korea’s Kospi advanced 0.65%, and the small-cap Kosdaq gained 7%. In Australia, the S&P/ASX 200 closed down 0.3% at 9,232.60.
