S&P 500 Slips 0.06% To 7,753.11. Nasdaq Down 0.32% To 26,605.36. Dow Falls 60.95 Points. Five Oil Supermajors Book $48B Q2 Profit As Iran War Boosts Fossil Fuel Prices
According to CNBC, US equities ended mixed on August 9, 2026, with the S&P 500 slipping 0.06% to close at 7,753.11, the Nasdaq Composite declining 0.32% to 26,605.36, and the Dow Jones Industrial Average falling 60.95 points, or 0.11%, to 53,975.98l; a modest retreat following the prior week’s strong rally in which the S&P 500 posted its first-ever close above 7,700 and gained 3.6% over five sessions.
Intel shares weighed on chip stocks after the semiconductor giant announced a leadership shuffle. Chip stocks broadly declined, extending losses that began late last week. Bank of America analysts maintained a buy rating on Nvidia, calling memory cost concerns “overblown” and citing the Vera Rubin chip launch as a key catalyst ahead of the company’s fourth-quarter earnings report on August 26.
Oil prices rose as Iran uncertainty kept energy markets on edge. Brent crude settling above $80 per barrel. The world’s five oil supermajors; ExxonMobil, Chevron, BP, Shell and TotalEnergies; reported a combined $48 billion in Q2 profit, benefitting from elevated fossil fuel prices driven by the US-Iran war. Combined cash generation over the same period reached an all-time high of nearly $90 billion.
SpaceX continued its post-IPO slide, down more than 41% in 2026 despite retail investor support. Australian markets closed down 0.3%.
The S&P 500 closed above 7,700 for the first time in history just days ago. It is already pulling back. Markets waiting on Nvidia earnings. Oil supermajors printing records while the world watches the Strait of Hormuz.
Check out our previous coverage of global markets on The Trusted Times.
