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Stocks finished quietly lower today, with investor attention focused on the Strait of Hormuz. All three major indexes finished in the red, with Iran reportedly nearing a deal with Oman but refusing to resume negotiations with the U.S. Oil prices were an overhang today in response. Bond yields dented AI and rate-cut optimism as well, with the 10-year Treasury yield climbing back above 4.7%.
Continue reading for more on today's market, including:
.jpg?sfvrsn=a2cbc06_2 "Unusual Options Activity Aug 10 (1)")
Oil prices leaned on extended uncertainty surrounding the availability of the Strait of Hormuz, with President Trump saying on Sunday the U.S. was "semi-negotiating" with Iran and depended on naval blockades to add pressure. September-dated West Texas Intermediate (WTI) crude finished 5.1% higher to settle at $82.13 per barrel.
Another seven-week high could be in store for gold prices, as the safe haven awaits to inflation data later this week. August-dated gold futures added 0.4% to settle at $4,416 per ounce.
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