This content was published on
August 10, 2026 - 16:00
4 minutes
(Bloomberg) — A renewed advance in oil prices left stocks wavering while bond yields rose, with trader anxiety building just days ahead of key inflation reports.The lack of a deal to revive the Strait of Hormuz drove Brent crude above $85. Higher energy costs stoked concerns the Federal Reserve will have to raise interest rates this year despite the recent slowdown in the jobs market. The S&P 500 fluctuated after a record-breaking run. Short-dated Treasuries underperformed. The dollar gained. The yen fell almost 1%.President Donald Trump signaled he’s prepared to let economic pressure on Iran build rather than launch fresh military strikes to force a reopening of the Strait of Hormuz, even as the Islamic Republic reiterated that the conditions still aren’t in place to allow free passage through the key waterway.“We are just watching Iran with its huge inflation and the fact they have no money,” Trump told Axios in an interview on Sunday, saying that a US naval blockade of the country was deepening its financial woes. “We are low-keying it.”While stocks had seen an early burst of enthusiasm about a possible reopening of Hormuz, markets may be less likely to respond positively to vague reports about progress in talks, according to Chris Larkin at E*Trade from Morgan Stanley.“The jobs report may have eased some anxieties about a Fed rate hike next month, but those concerns could hit new highs without cooler-than-expected inflation numbers this week,” Larkin noted.Prices paid by US consumers probably inched up marginally last month after falling for the first time in six years, a welcome tempering in recent war-driven inflationary pressures.The closely watched consumer price index is seen rising 0.1% in July following a 0.4% decline in the prior month, based on the median projection in a Bloomberg survey of economists ahead of Wednesday’s Bureau of Labor Statistics release.“We would note that even a low CPI print, might not be enough to negate the concerns of the Fed’s hawks, which seem to focus on the durability of above-target inflation for the past four years,” said Thierry Wizman at Macquarie Group.Corporate Highlights:Intel Corp. said it will be offering $15 billion in common stock, taking advantage of renewed interest in its business prospects during the artificial intelligence-data center boom. Microsoft Corp. is planning to “significantly” increase production of its next-generation AI chips, the Information reported. Apple Inc. was downgraded to an underperform rating at Jefferies, in the latest example of growing bearishness toward the company. GameStop Corp., led by Chief Executive Officer Ryan Cohen, is considering withdrawing its $56 billion bid for eBay Inc., according to people familiar with the matter. Boeing Co. will sell several of its units that specialize in developing technologies for flying taxis and drones to Archer Aviation Inc. as the US planemaker focuses on its core commercial and defense units. Some of the main moves in markets:StocksThe S&P 500 was little changed as of 10 a.m. New York time The Nasdaq 100 was little changed The Dow Jones Industrial Average fell 0.2% The Stoxx Europe 600 fell 0.1% The MSCI World Index was little changed CurrenciesThe Bloomberg Dollar Spot Index rose 0.2% The euro fell 0.1% to $1.1546 The British pound rose 0.1% to $1.3506 The Japanese yen fell 0.8% to 158.97 per dollar CryptocurrenciesBitcoin fell 0.9% to $64,545.47 Ether fell 1.2% to $1,897.73 BondsThe yield on 10-year Treasuries advanced four basis points to 4.69% Germany’s 10-year yield advanced four basis points to 3.17% Britain’s 10-year yield advanced six basis points to 4.98% CommoditiesWest Texas Intermediate crude rose 3.4% to $80.83 a barrel Spot gold fell 0.5% to $4,319.90 an ounce ©2026 Bloomberg L.P.
