Stocks close lower as investors eye Mideast talks, earnings
By Chuck Mikolajczak and Shashwat Chauhan
Thu August 6, 2026
Peace hopes got muted today over the impending opening of the Strait of Hormuz but with the Iranian parliament considering banning the U.S. and its allies from using it. This combined with more AI jitters brought all three indexes down for a second day after a very vigorous 3-day rally. Oddly, two of the tech companies that fell today, Western Digital and Sandisk, actually turned in glowing Q2 and have been booming this year, Western up 400%, Sandisk 160%.
Two others, AppLovin and Datadog plummeted 20% when their Q2 missed revenue targets. Thus, it was straight downhill from the open though the Nasdaq did manage to stay close to break-even most of the afternoon. 382 of the S&P have now reported and 84.8% have beaten estimates, well above the 68% average since 1994. The big dogs come out tomorrow when the government labor report is issued for clues on the path of interest rates. The 17.09 billion volume was a tad below the 17.42 average.
DJ: 54,349.12 +263.24 NAS: 26,363.44
-221.55 S&P: 7,723.55
-12.97 8/5
DJ: 53,885.10 -464.02 NAS: 26,348.35
-15.09 S&P: 7,709.96
-13.59 8/6
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