Market News

Market Snapshot Index Close Change % Change S&P 500 7,591.70 -44.66 -0.58% NASDAQ 26,081.72 -171.62 -0.65% DOW 52,064.10 -316.56 -0.60% Russell 2000 2,890.95 -30.29 -1.04% VIX 17.84 +1.38 +8.38% Breaking News & Macro Events Oil surges as US–Iran strikes intensify around the Strait of Hormuz — CNBC Crude was the day’s dominant story. WTI climbed steadily through the US session — from $96.28 in early trading to $103.05 at the close — for a 6.60% gain, while Brent added 6.61% to $108.35, its highest level since May. US officials reported that Iran attempted to attack Navy ships after targeting an aircraft carrier with ballistic missiles; Iranian state media said a US missile struck a small oil tanker near Kharg Island, and Iran-backed Houthi militants attacked several energy facilities in Saudi Arabia. With the conflict now in its seventh month, Goldman Sachs has flagged the risk of crude pushing above $120 a barrel if attacks on shipping continue. ...

Market Snapshot Index Close Change % Change S&P 500 7,636.36 -37.16 -0.48% NASDAQ 26,253.34 -168.07 -0.64% DOW 52,380.66 -405.41 -0.77% Russell 2000 2,921.23 -38.97 -1.32% VIX 16.46 +0.74 +4.71% Breaking News & Macro Events Brent crude tops $100 as U.S.-Iran tit-for-tat strikes stoke oil supply worries — CNBC Brent crossed $100 a barrel for the first time since July after U.S. forces destroyed five Iranian crude tankers Tuesday night in retaliation for an attempted attack on an American warship, and Iran responded by striking ten ships in the Strait of Hormuz. The waterway carries roughly a fifth of global seaborne oil, and transits have collapsed from around 130 vessels a day to a low double-digit trickle. This is a supply shock, not a demand story — which is why equities fell while energy names and crude both rallied. ...

Market Snapshot Index Close Change % Change S&P 500 7,673.52 -45.08 -0.58% NASDAQ 26,421.41 -85.58 -0.32% DOW 52,786.07 -628.18 -1.18% Russell 2000 2,960.20 -15.44 -0.52% VIX 15.72 +1.19 +8.19% Markets reopened Tuesday after the Labor Day holiday; all changes are measured against Friday’s 2026-09-04 close. Breaking News & Macro Events Canada’s retaliatory tariffs worth $27.6 billion take effect — CNBC Canada imposed counter-tariffs on $27.6 billion of American goods at 12:01 a.m. Tuesday, with duties ranging from 15% to 50% across hundreds of categories. Steel, aluminum and iron products face the top 50% rate, alongside furniture, motorcycles, clothing and certain beauty products — more than 300 metals products and derivatives in all. Ottawa framed the action as a “dollar for dollar” response to US Section 338 tariffs, matching each US rate on the corresponding good. The move follows the collapse of negotiations last month, when Prime Minister Mark Carney suspended talks over terms he called “unfair, uneconomic.” Industrials bore the brunt of the selling, and the Dow’s 1.18% decline more than doubled the Nasdaq’s. ...

Market Snapshot Index Close Change % Change S&P 500 7,718.60 -29.11 -0.38% NASDAQ 26,506.99 -77.07 -0.29% DOW 53,414.25 -271.86 -0.51% Russell 2000 2,975.65 +7.38 +0.25% VIX 14.53 +0.22 +1.54% A three-times-consensus jobs beat, and the market gave back less than half a percent. Look at the internals before calling this risk-off: the Russell 2000 rose 0.25% while the Dow fell 0.51%, semiconductors led the tape higher, and the VIX ticked up only 0.22 to 14.53. This was a narrow, large-cap-led drift — not a repricing of risk. ...

Market Snapshot Index Close Change % Change S&P 500 7,747.71 +81.11 +1.06% NASDAQ 26,584.06 +366.23 +1.40% DOW 53,686.11 +624.16 +1.18% Russell 2000 2,968.27 +15.10 +0.51% VIX 14.32 -0.91 -5.98% A broad, low-drama advance. The Dow posted its best session in about a month and the S&P 500 its strongest day since Aug. 4, while the VIX slid back to 14.32 — the market’s fear gauge went the opposite direction from the headlines. Breadth was tilted toward large-cap tech: the Russell 2000’s +0.51% badly lagged the NASDAQ’s +1.40%. ...

Market Snapshot Index Close Change % Change S&P 500 7,666.60 +35.13 +0.46% NASDAQ 26,217.83 +118.06 +0.45% DOW 53,061.95 +295.07 +0.56% Russell 2000 2,953.17 +33.04 +1.13% VIX 15.20 -1.14 -6.98% Three-day losing streak snapped. The tell is in the breadth and the vol: the Russell led at +1.13% while VIX collapsed 7% back to 15.20, erasing the entire fear premium built during Monday and Tuesday’s bond-driven selloff. Yields stopped going up, and that was enough. ...

Overnight Developments Two supertankers hit by projectiles in the Strait of Hormuz — Bloomberg Two crude supertankers were struck within minutes of each other late Monday while transiting outbound through the Strait of Hormuz. The VLCC Sidr, operated by Saudi Arabia’s Bahri, was hit northeast of Khasab, Oman; the Senegal Prosperity, operated by South Korea’s Sinokor Group, took three projectiles roughly 17 nautical miles east of Khasab — inside a US-guarded corridor. UKMTO confirmed the strikes and reported no casualties and no environmental damage. Several accounts attribute them to Iranian anti-ship cruise missiles. ...

Market Snapshot Index Close Change % Change S&P 500 7,631.47 -54.67 -0.71% NASDAQ 26,099.77 -271.12 -1.03% DOW 52,766.88 -419.02 -0.79% Russell 2000 2,920.13 -36.32 -1.23% VIX 16.34 +1.42 +9.52% Breaking News & Macro Events Oil prices surge above $94 after U.S. strikes Iran in Hormuz — Yahoo Finance Renewed U.S. military action against Iranian positions in the Strait of Hormuz sent crude sharply higher, with WTI closing up 5.46% at $90.73 and Brent up 5.15% at $95.22. The strikes reverse a partial normalization in energy prices that followed the collapsed June 17 U.S.–Iran memorandum, which unraveled after Iran demanded sanctions relief and an end to the naval blockade before reopening the waterway. The IEA has already cut its 2026 global supply forecast to 102 million barrels per day, a 4.3 million bpd year-over-year decline. Equities sold off across the board while the energy complex rallied — a classic supply-shock rotation. ...

Market Snapshot Index Close Change % Change S&P 500 7,686.14 -25.62 -0.33% NASDAQ 26,370.89 -31.54 -0.12% DOW 53,185.90 -374.09 -0.70% Russell 2000 2,956.45 -15.92 -0.54% VIX 14.92 +0.50 +3.47% August closed higher across the board despite today’s pullback: the S&P 500 gained +2.62% for the month, the NASDAQ +3.93%, the Dow +1.34%, and the Russell 2000 +0.86%. Breadth was narrow and defensive-unfriendly — 9 of 11 S&P sectors finished lower. The only gainers were Energy (XLE +2.03%) and Technology (XLK +0.39%). Communication Services (-1.34%), Utilities (-1.17%), and Industrials (-1.12%) lagged. ...

Overnight Developments U.S. strikes Iranian rocket launchers on the Strait of Hormuz — NBC News U.S. forces struck two Iranian rocket launchers on Larak Island in the Strait of Hormuz on Sunday, the first American strikes on Iran since late July and a break in a month-long lull. CENTCOM spokesperson Tim Hawkins said Revolutionary Guard forces had been observed preparing to fire rockets carrying sea mines into the strait — the same shipping lanes the U.S. military finished clearing of mines only last week. The IRGC confirmed the strikes hit Larak, acknowledged “the martyrdom and injury of several of our fighters and compatriots,” and warned of a “retaliatory response.” ...