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What is the story about?
US stocks were little changed on Monday, August 10, as investors kicked off a busy week of corporate earnings and key inflation data, with the major indexes remaining close to their record highs.
The S&P 500 was flat%, while the Nasdaq Composite slipped 0.3%. The Dow Jones Industrial Average fell 72 points, or 0.2%, after all three major indexes ended last week higher.
Investors remained cautious amid uncertainty over whether the US and Iran can reach a lasting resolution to the conflict in the near term. Iran has said it is close to a deal with Oman to reopen the Strait of Hormuz, but Tehran continues to resist direct negotiations with the US until several conditions are met.
Oil prices climbed as uncertainty over the reopening of the key shipping route persisted. US West Texas Intermediate crude futures rose 2.4% to $80.03 a barrel, while Brent crude, the international benchmark, gained 2.4% to $85.53 a barrel as of 9:44 a.m. ET.
Investors are also awaiting Wednesday's Consumer Price Index (CPI) report, which could influence the outlook for inflation and interest rates. Federal Reserve officials remain divided over the rate path as they assess the impact of West Asia conflict and the resulting oil-price shock on inflation.
Intel shares fall after $15 billion stock offering
Intel was among the key laggards, with shares falling 4% after the chipmaker said it plans to offer $15 billion in common stock.
Meanwhile, several artificial intelligence infrastructure companies are due to report results, including CoreWeave, Nebius, Cerebras Systems and Super Micro Computer. Their results are expected to give investors further insight into the pace of spending and expansion across the AI infrastructure build-out.
Also Read: Trump announces staff secretary Will Scharf will be his new White House counsel
The S&P 500 was flat%, while the Nasdaq Composite slipped 0.3%. The Dow Jones Industrial Average fell 72 points, or 0.2%, after all three major indexes ended last week higher.
Investors remained cautious amid uncertainty over whether the US and Iran can reach a lasting resolution to the conflict in the near term. Iran has said it is close to a deal with Oman to reopen the Strait of Hormuz, but Tehran continues to resist direct negotiations with the US until several conditions are met.
Oil prices climbed as uncertainty over the reopening of the key shipping route persisted. US West Texas Intermediate crude futures rose 2.4% to $80.03 a barrel, while Brent crude, the international benchmark, gained 2.4% to $85.53 a barrel as of 9:44 a.m. ET.
Investors are also awaiting Wednesday's Consumer Price Index (CPI) report, which could influence the outlook for inflation and interest rates. Federal Reserve officials remain divided over the rate path as they assess the impact of West Asia conflict and the resulting oil-price shock on inflation.
Intel shares fall after $15 billion stock offering
Intel was among the key laggards, with shares falling 4% after the chipmaker said it plans to offer $15 billion in common stock.
Meanwhile, several artificial intelligence infrastructure companies are due to report results, including CoreWeave, Nebius, Cerebras Systems and Super Micro Computer. Their results are expected to give investors further insight into the pace of spending and expansion across the AI infrastructure build-out.
Also Read: Trump announces staff secretary Will Scharf will be his new White House counsel
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