US close: Stocks end lower as fading Hormuz hopes weigh on sentiment

(Sharecast News) - Major indices closed lower on Monday as optimism over a potential USIran agreement to re-open the Strait of Hormuz faded.

At the close, the Dow Jones Industrial Average was down 0.11% at 53,975.98, while the S&P 500 shed 0.06% to 7,753.11 and the Nasdaq Composite saw out the session 0.32% weaker at 26,605.36.

The Dow closed 60.95 points lower on Monday, taking a bite out of gains recorded in the previous session after a much weaker-than-expected non-farm payrolls report made a September rate hike from the Federal Reserve appear unlikely.

However, investor sentiment weakened after Iran said that it was not engaged in any direct negotiations with Washington on restoring free passage through the key shipping corridor.

Iran's foreign minister Abbas Araghchi said there was "no possibility of restarting negotiations" with the US if it continued to violate the pair's June memorandum of understanding, without compensating for its "violations". Tehran did announce that it was closing in on a deal with Oman to re-open the Strait of Hormuz.

As a result, West Texas Intermedia crude rose 5.24% to $82.28 a barrel as traders reassessed the geopolitical backdrop, while international benchmark Brent crude moved 5.07% higher to $87.79 a barrel.

Hopes for a breakthrough had been lifted last week after Treasury Secretary Scott Bessent told CNBC a deal was close. However, Donald Trump later told Axios on Sunday that the US was "only seminegotiating" with Iran and intended to maintain economic pressure.

No major corporate earnings or data points were released on Monday.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Chevron Corp. (CVX) $194.91 4.49%

Dow Chemical Co. (DOW) $30.58 4.23%

Amgen Inc. (AMGN) $417.20 3.27%

Salesforce.Com Inc. (CRM) $197.51 2.47%

Merck & Co. Inc. (MRK) $130.92 1.83%

Johnson & Johnson (JNJ) $261.81 0.99%

Nike Inc. (NKE) $42.11 0.98%

JP Morgan Chase & Co. (JPM) $359.79 0.63%

Microsoft Corp. (MSFT) $506.06 0.56%

Procter & Gamble Co. (PG) $146.44 0.45%

Dow Jones - Fallers

Intel Corp. (INTC) $97.52 -4.27%

Travelers Company Inc. (TRV) $375.62 -2.26%

Walt Disney Co. (DIS) $103.18 -1.63%

Home Depot Inc. (HD) $350.78 -1.36%

Apple Inc. (AAPL) $308.26 -1.31%

Boeing Co. (BA) $232.79 -0.70%

American Express Co. (AXP) $338.86 -0.60%

Caterpillar Inc. (CAT) $837.58 -0.55%

Goldman Sachs Group Inc. (GS) $1,034.51 -0.49%

3M Co. (MMM) $182.04 -0.46%

S&P 500 - Risers

Apache Corp. (APA) $41.02 14.34%

Helmerich & Payne Inc. (HP) $41.87 12.86%

Vertex Pharmaceuticals Inc. (VRTX) $523.91 7.83%

Marathon Petroleum Corporation (MPC) $320.32 7.42%

Take-Two Interactive Software Inc. (TTWO) $253.57 6.85%

Diamondback Energy Inc. (FANG) $198.97 6.68%

FMC Technologies Inc. (FTI) $74.13 6.48%

CenturyLink Inc. (LUMN) $6.64 6.41%

CF Industries Holdings Inc. (CF) $121.48 6.24%

Align Technology Inc. (ALGN) $176.04 5.85%

S&P 500 - Fallers

Coterra Energy Inc. (CTRA) $32.56 -8.62%

Fluor Corp. (FLR) $52.25 -8.33%

American Airlines Group (AAL) $15.00 -6.75%

Ipg Photonics Corp. (IPGP) $84.89 -6.15%

DENTSPLY Sirona Inc. (XRAY) $11.66 -5.51%

Fortune Brands Innovations, Inc. (FBIN) $47.99 -5.49%

Alaska Air Group Inc. (ALK) $47.26 -5.40%

Bath & Body Works, Inc. (BBWI) $19.32 -5.11%

Corning Inc. (GLW) $157.76 -4.77%

eBay Inc. (EBAY) $107.71 -4.73%

Nasdaq 100 - Risers

Vertex Pharmaceuticals Inc. (VRTX) $523.91 7.83%

Biomarin Pharmaceutical Inc. (BMRN) $68.88 7.75%

Take-Two Interactive Software Inc. (TTWO) $253.57 6.85%

Align Technology Inc. (ALGN) $176.04 5.85%

Intuitive Surgical Inc. (ISRG) $393.38 5.08%

Regeneron Pharmaceuticals Inc. (REGN) $808.05 5.01%

Netflix Inc. (NFLX) $76.29 3.84%

Adobe Systems Inc. (ADBE) $272.96 3.82%

Check Point Software Technologies Ltd. (CHKP) $131.14 3.66%

Autodesk Inc. (ADSK) $256.07 3.44%

Nasdaq 100 - Fallers

Qvc Group Inc Series A (QVCGA) $0.34 -13.49%

American Airlines Group (AAL) $15.00 -6.75%

Liberty Global plc Series A (LBTYA) $10.15 -6.06%

DENTSPLY Sirona Inc. (XRAY) $11.66 -5.51%

Liberty Global plc Series C (LBTYK) $9.99 -5.31%

eBay Inc. (EBAY) $107.71 -4.73%

Verisk Analytics Inc. (VRSK) $181.18 -4.60%

Intel Corp. (INTC) $97.52 -4.27%

Cadence Design Systems Inc. (CDNS) $331.91 -4.25%

Sirius XM Holdings Inc (SIRI) $28.78 -3.76%