US markets point to a mixed open and oil prices tick higher over Hormuz stalemate
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A general view shows the New York Stock Exchange, Friday, Aug. 7, 2026, in New York. /Yuki Iwamura)
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A general view shows the New York Stock Exchange, Friday, Aug. 7, 2026, in New York. /Yuki Iwamura)
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A currency trader talks on the phone at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Monday, Aug. 10, 2026. /Ahn Young-joon)
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A general view shows the New York Stock Exchange, Friday, Aug. 7, 2026, in New York. /Yuki Iwamura)
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A general view shows the New York Stock Exchange, Friday, Aug. 7, 2026, in New York. /Yuki Iwamura)
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A general view shows the New York Stock Exchange, Friday, Aug. 7, 2026, in New York. /Yuki Iwamura)
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A general view shows the New York Stock Exchange, Friday, Aug. 7, 2026, in New York. /Yuki Iwamura)
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A currency trader talks on the phone at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Monday, Aug. 10, 2026. /Ahn Young-joon)
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A currency trader talks on the phone at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Monday, Aug. 10, 2026. /Ahn Young-joon)
By
ELAINE KURTENBACH and MICHELLE CHAPMAN
Updated [hour]:[minute] [AMPM] [timezone], [monthFull] [day], [year]
U.S. markets are pointing to a mixed open on Monday as oil prices climb due to a seeming stalemate over the Strait of Hormuz
Futures for the S&P rose 0.2%, while futures for the Dow Jones Industrial Average fell 0.14%. Nasdaq futures were up 0.14% before the opening bell
Iran insisted that the U.S. meet its demands in negotiations before the Strait of Hormuz reopens. Details emerged on the potential deal between Iran and Oman on managing the Strait of Hormuz as Tehran suggested that vessels linked to “hostile countries” would be barred
Brent crude, the international standard, gained 1.4% to $84.68 per barrel. U.S. benchmark crude advanced 1.4% to $79.30 per barrel
“Negotiators said that a deal to establish a safe shipping route was close, but Iran may now be exploring just how much it can extract from the U.S. in return,” Bas van Geffen, senior macro strategist for Rabobank, wrote
Inflation will be the focus this week in the U.S. with new data from July landing midweek. The Labor Department releases its consumer price index Wednesday, with economists expecting a slight easing from June. On Thursday, the U.S. posts July data on producer prices, or costs that are in the pipeline before goods reach consumers
In U.S. markets before the opening bell, the energy sector is rising in tandem with the price of oil. Marathon, Occidental and Valero were the biggest gainers
On the other side, cruise lines like Carnival and Norwegian, as well as hotels and travel booking sites, fell with the cost of fuel expected to rise
Tech stocks are also on the rise after a weak jobs report Friday raised the odds that the Federal Reserve would hold off on an interest rate hike at its next meeting. The fast-growth tech sector is reliant on cheap access to credit and there have been expectations that the Fed was leaning toward raising borrowing costs to combat inflation
Shares were mostly higher in Europe and Asia, with Japan’s Nikkei 225 leading advances
The U.S. dollar rose to 158.80 Japanese yen from 157.72 yen. The euro fell to $1.1552 from $1.1561
ELAINE KURTENBACH
