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Wall Street ends lower, Dow's 5-session win streak snaps; Oil surges on Strait of Hormuz tensions
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U.S. stock markets closed lower on August 6, 2026, ending the Dow's five-session winning streak and three consecutive record-high closes. The Dow fell 0.9%, the S&P 500 0.2%, and the Nasdaq 0.1%. Major tech decliners included Honeywell Aerospace (-23%), AppLovin (-20%), and Datadog (-19%), while Microsoft gained 2.5%. SpaceX rebounded 6% after a 14% drop the previous day, as 911 million shares became eligible for trading. Oil prices rose sharply—WTI up 3.7% to $78/barrel, Brent up 4.7% to $83.20—as investors awaited news on a potential U.S.-Iran agreement to reopen the Strait of Hormuz. The 10-year Treasury yield rose to 4.68%, and the dollar index edged up 0.3% to 99.97. Fox Corporation shares surged 5.5% on better-than-expected earnings boosted by FIFA World Cup advertising. Bitcoin traded near $64,400, and gold fell 0.2% to $4,295/oz. Investors now look ahead to the July employment report expected to show 83,000 jobs added.
Source report
Aaron Rennie Thu, August 6, 2026 at 3:37 AM PDT 12 min read
Market Overview
The Dow Jones Industrial Average shed more than 450 points, ending a five-session winning streak, as all three major U.S. stock indexes closed lower on Thursday.
- Dow Jones Industrial Average: -0.9%
- S&P 500: -0.2%
- Nasdaq Composite: -0.1%
The Dow's run of three consecutive record-high closes came to an end.
Technology Stocks Decline
Several technology stocks fell sharply after reporting quarterly results:
- Honeywell Aerospace (HONA): -23%
- AppLovin (APP): -20%
- Datadog (DDOG): -19%
- Western Digital (WDC): -13%
- Sandisk (SNDK): -7%
The Magnificent Seven mega-cap tech firms ended mixed, with Microsoft (MSFT) posting the largest move in either direction, gaining 2.5%.
SpaceX Rebounds
Shares of SpaceX (SPCX) rebounded 6% after plunging nearly 14% the previous day, as investors digested the Elon Musk-led company's first quarterly results as a public company. Approximately 911 million shares of SpaceX stock—worth roughly $100 billion—were released from trading restrictions on Thursday.
Bond Yields and Dollar
- 10-Year Treasury Yield: ~4.68%, up six basis points from Wednesday's close
- U.S. Dollar Index: Rose 0.3% to 99.97
Oil Prices Rise
Oil prices gained as investors awaited news on a potential agreement between the U.S. and Iran to reopen the Strait of Hormuz.
- West Texas Intermediate (WTI) futures: +3.7% to $78/barrel (around 4 p.m. ET)
- Brent crude futures: +4.7% to $83.20/barrel
Other Markets
- Bitcoin: Trading around $64,400, down slightly over the past 24 hours
- Gold futures: -0.2% to $4,295/ounce
Looking Ahead
Investors' attention will turn to the Bureau of Labor Statistics' release of the July employment report on Friday. Economists expect the report to show U.S. employers added 83,000 jobs in July, up from 57,000 in June.
Market Updates
August 6, 2026 at 07:17 PM GMT
Only 3 Dow Components Have Risen 1% Today
It has been a tough day for the 30 components of the Dow Jones Industrial Average. Only nine Dow components are in positive territory in the final hour of trading, and just three—Disney (DIS), Microsoft (MSFT), and Chevron (CVX)—are up as much as 1%.
Salesforce (CRM), down nearly 4%, is the biggest decliner in the blue-chip index.
August 6, 2026 at 05:46 PM GMT
Fox Stock Pops as World Cup Powers Results
Advertising revenue from the 2026 FIFA World Cup greatly aided Fox Corporation's fiscal fourth-quarter results.
Fox (FOXA) ranked among the top gainers in the S&P 500 on Thursday, with shares up 5.5%, after the media company reported better-than-expected profit and revenue.
Key Results:
- Adjusted earnings: $1.79 per share (vs. $1.39 expected)
- Revenue: $4.21 billion, up 28% year-over-year (vs. $3.65 billion expected)
- Advertising revenue: Soared 78% in the quarter, primarily due to the global soccer event
Despite today's surge, Fox shares remain about 15% lower since the start of the year.
Source
Yahoo FinanceWestern
Part of this Story
US Stocks Surge to Records on Iran Diplomacy and Strong Earnings