Oil Sinks 6%, Nasdaq 100 Rallies On Iran Talks: Stock Market Today
U.S. equities opened August with a broad-based relief rally Monday as crude oil tumbled and Treasury yields retreated from 18-month highs, after President Donald Trump called off a planned military strike on Iran over the weekend and said negotiations would resume. West Texas Intermediate crude sank 5.9% to $79.69 a barrel, a three-week low, unwinding a chunk of the geopolitical premium built up over the past month. Brent slid 4.7% to $83.78. The pullback in fuel prices rippled straight into rates. The 10-year Treasury yield fell 5 basis points to 4.69%, retreating from an 18-month high, while the 2-year eased 4 basis points to 4.27% and the 30-year dropped 5 basis points to 5.23%. With the inflation impulse from energy fading, rate-hike bets cooled. Futures now imply roughly a 63% probability of a 25-basis-point Federal Reserve hike in September, down from about 80% before last week&...
S. equities opened August with a broad-based relief rally Monday as crude oil tumbled and Treasury yields retreated from 18-month highs, after President Donald Trump called off a planned military strike on Iran over the weekend and said negotiations would resume. 69 a barrel, a three-week low, unwinding a chunk of the geopolitical premium built up over the past month. 78.
The pullback in fuel prices rippled straight into rates. 23%. With the inflation impulse from energy fading, rate-hike bets cooled. Futures now imply roughly a 63% probability of a 25-basis-point Federal Reserve hike in September, down from about 80% before last week’s policy meeting, at which three officials dissented and Chair Kevin Warsh offered little forward guidance.
Data offered a second tailwind. 8. 0%, to 53,005. 3% to 28,645.
5% to 2,976. 2%. 0%. 4%.
5%. 1% gain, powered by Meta Platforms Inc. 5%, and Alphabet Inc. 1%.
8% as crude tumbled. 1%. S. 5%, the best industry move of the session.
4%. The biggest single-stock story was in pharma. Bristol-Myers Squibb Co. (NYSE: BMY ) surged nearly 10% on reports it is in merger talks with AstraZeneca.
Leading the Russell 1000 was CoreWeave Inc. 4%, tracking a broad risk-on bid for AI cloud infrastructure after a 16% drawdown in July, with Snowflake Inc. 4% and IREN Ltd. 8%.
First Solar Inc. 9% after Wells Fargo raised its price target to $320 from $255 and reiterated an Overweight rating, citing potential upside from a Section 232 polysilicon tariff decision expected by early August. Applied Optoelectronics Inc. 6%, as the optics complex bid up alongside Coherent Corp.
4%, and Lumentum Holdings Inc. 7%. Almonty Industries Inc. 6% after DA Davidson raised its price target on a stronger tungsten price outlook, with the metal trading at record levels above $3,200 per metric ton unit.
V. 80 billion, and raising full-year adjusted EPS guidance with a midpoint above estimates. The Worst Performer? GameStop Corp.
(NYSE: GME ). 8% — its lowest level since August 2024. 0 billion of 2032 notes—for Class A common stock, a debt-reduction move investors read as straight dilution. Marriott International Inc.
4% on a mixed print. 2%, extending last week’s roughly 17% post-earnings collapse on reported insider selling. E-commerce website eBay Inc. 7% after Wells Fargo cut the stock to Underweight from Equal Weight, warning that the Depop acquisition could pressure fiscal 2027 earnings and force heavier marketing spend against resale rival Vinted.
Monday’s Russell 1000 Top Gainers Name % change CoreWeave, Inc. 39% First Solar, Inc. 91% Applied Optoelectronics, Inc. 63% Almonty Industries Inc.
V. 23% Monday’s Russell 1000 Top Losers Name % change GameStop Corp. 82% Marriott International, Inc. 21% Monolithic Power Systems, Inc.
99% eBay Inc. 69% Image: Shutterstock