The Dow Adds 560 Points as Oil Prices Fall Off a Cliff

3 weeks ago 10

Anders Bylund, The Motley Fool

Mon, August 3, 2026 astatine 12:24 PM CDT 4 min read

The banal marketplace spent July panicking astir lipid prices, spot valuations, and AI spending. It showed up Monday greeting successful a wholly antithetic mood.

All 3 large indexes are up much than 1% arsenic of 11:54 a.m. ET. The Nasdaq Composite (NASDAQINDEX: ^IXIC) leads with a 1.8% summation aft opening astir flat. The S&P 500 (SNPINDEX: ^GSPC) besides started slow, rising to a 1.2% gain. The Dow Jones Industrial Average (DJINDICES: ^DJI) is simply a antithetic story, staying supra the 1% people done the morning. As of this writing, it's up by 1.1% oregon astir 560 points.

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^IXIC information by YCharts

Cheaper lipid and an AI alleviation commercialized

Energy is Monday's astir evident catalyst.

President Trump reportedly scrapped planned strikes against Iran successful favour of much diplomatic talks. The effect connected lipid prices and marketplace moods was quick. The United States Oil Fund (NYSEMKT: USO) fell 6%. Cheaper lipid means little ostentation pressure, and stocks similar that math, from robust worth plays to high-octane maturation stocks.

The 2nd operator is simply a continuation of past week's AI net reports. Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) roseate 5.3%, making it the azygous largest contributor to some the S&P 500 and Nasdaq Composite indexes. The communicative that erstwhile work arsenic "alarming capex" present focuses connected "Google Cloud grew 82%." Same company, aforesaid spending plan, wholly antithetic marketplace reception.

Clouds successful the signifier of dollar signs.

The remainder of the Magnificent 7 came on for the ride, with gains of 4% oregon much crossed the software-oriented broadside of that elite club. Nvidia (NASDAQ: NVDA) roseate 3.1% arsenic its apical customers looked bully again. It doesn't wounded that President Trump plans a sit-down gathering with starring AI work providers connected Tuesday, hoping to acceptable up information frameworks for precocious ample connection models (LLMs).

One Magnificent 7 subordinate didn't get the bullish memo, though. Apple (NASDAQ: AAPL) is down 1.9%, nursing a hangover from past week's brushed guidance. The iPhone maker's gloom held backmost the cap-weighted indexes but didn't truly alteration the Dow's exuberance.

Energy stocks are broadly down, arsenic expected, alongside falling lipid prices. But two-thirds of the 30 Dow stocks are up this morning. The Dow and S&P 500 are sniffing astatine all-time highs aft a two-month downtrend. Times are beauteous bully connected Wall Street.

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