(Sharecast News) - Major indices closed lower on Tuesday as investors weighed signs of progress toward reopening the Strait of Hormuz against lingering doubts over whether Washington and Tehran can reach a broader settlement.
At the close, the Dow Jones Industrial Average was down 0.34% at 53,791.85, while the S&P 500 shed 0.32% to 7,728.20 and the Nasdaq Composite saw out the session 0.60% weaker at 26,445.45.
The Dow closed 184.13 points lower on Tuesday, extending losses recorded in the previous session as optimism over a potential USIran agreement to re-open the Strait of Hormuz faded.
Middle East news was in focus yet again on Tuesday after Iran said it was close to agreeing a deal with Oman to reopen the key waterway, but has continued to rule out direct talks with the US until several conditions have been met.
Foreign minister Abbas Araghchi reiterated at the weekend that there was "no possibility of restarting negotiations" while the US continued to violate the pair's June memorandum of understanding and failed to compensate Iran for those breaches, according to the semiofficial Tasnim News Agency.
As a result, oil prices headed north on tuesday, with West Texas Intermediate futures up 1.52% at $83.38 a barrel, and international benchmark Brent crude 1.57% higher at $89.10 a barrel.
However, market participants also viewed comments from Pakistani defense minister Khawaja Asif that "things are shaping up again in favour of a peace arrangement or a deal" as a positive sign.
On the macro front, the National Federation of Independent Business' small business optimism index rose to 99.8 in July, its strongest reading since last August, up from 97.4 in June and ahead of expectations. Eight of the index's ten components improved, with hiring plans showing the biggest gain. Real sales expectations and reports of inventories being "too low" both slipped by two points. However, the uncertainty index increased two points to 91, remaining well above its longrun average of 68, driven by more owners expressing doubt over whether it is a good time to expand and uncertainty around capitalexpenditure plans.
Elsewhere, US existinghome sales dipped in July, with the National Association of Realtors reporting a 1.7% monthonmonth decline, though activity was 0.7% higher than a year earlier at an annualised 4.06m units. Total inventory stood at 1.54m homes, down 1.9% from June and 0.6% from July 2025, leaving supply unchanged at 4.6 months, while the median existinghome price rose 2% yearonyear to $434,100, marking the 37th consecutive month of annual price gains. The housing affordability index improved to 103.3, up from 98.3 a year earlier, with affordability rising across all regions.
In the corporate space, information technology outfit Super Micro Computer said quarterly net sales surged 95% to $11.1bn, with net income up 504% to $1.2bn and earnings per share jumping 422% to $1.62, while fullyear sales climbed 78% to $39.1bn and earnings also posted strong doubledigit growth.
On another note, tax services giant H&R Block reported 4.9% higher FY26 revenue at $3.95bn, with net income from continuing operations up 20.8% to $736.3m and EPS rising 28.7% to $5.69, helped by a oneoff tax benefit, while operating cash flow improved to $838.7m.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Dow Chemical Co. (DOW) $31.26 2.22%
Amgen Inc. (AMGN) $414.30 1.53%
Home Depot Inc. (HD) $354.48 1.05%
Chevron Corp. (CVX) $196.66 0.90%
International Business Machines Corporation (CDI) (IBM) $238.42 0.89%
Caterpillar Inc. (CAT) $843.37 0.69%
JP Morgan Chase & Co. (JPM) $362.04 0.63%
3M Co. (MMM) $183.13 0.60%
American Express Co. (AXP) $340.81 0.58%
Verizon Communications Inc. (VZ) $47.27 0.51%
Dow Jones - Fallers
Cisco Systems Inc. (CSCO) $120.43 -2.37%
Nike Inc. (NKE) $41.32 -1.88%
Unitedhealth Group Inc. (UNH) $402.19 -1.60%
Procter & Gamble Co. (PG) $145.21 -0.84%
Johnson & Johnson (JNJ) $259.80 -0.77%
Intel Corp. (INTC) $97.71 -0.51%
Microsoft Corp. (MSFT) $503.81 -0.47%
Coca-Cola Co. (KO) $86.48 -0.45%
Merck & Co. Inc. (MRK) $130.42 -0.38%
Apple Inc. (AAPL) $304.91 -0.26%
S&P 500 - Risers
Intuitive Surgical Inc. (ISRG) $401.23 5.59%
Diamondback Energy Inc. (FANG) $201.71 5.28%
Marathon Petroleum Corporation (MPC) $336.42 5.03%
Expedia Group Inc. (EXPE) $321.07 4.25%
Fortune Brands Innovations, Inc. (FBIN) $50.00 4.19%
Charter Communications Inc. (CHTR) $157.69 4.15%
Phillips 66 Common Stock (PSX) $224.36 4.10%
Tractor Supply Company (TSCO) $35.29 3.95%
Hasbro Inc (HAS) $97.04 3.84%
Intuit Inc. (INTU) $336.44 3.62%
S&P 500 - Fallers
Monster Beverage Corp (MNST) $45.53 -49.85%
Under Armour Inc. Class A (UAA) $5.34 -9.03%
Coterra Energy Inc. (CTRA) $32.56 -8.62%
Under Armour, Inc. (UA) $5.20 -8.45%
Ventas Inc. (VTR) $86.96 -5.43%
Advance Auto Parts (AAP) $52.95 -4.99%
Microchip Technology Inc. (MCHP) $81.02 -4.59%
CenturyLink Inc. (LUMN) $6.38 -3.92%
DENTSPLY Sirona Inc. (XRAY) $11.61 -3.89%
Welltower Inc (WELL) $226.01 -3.84%
Nasdaq 100 - Risers
Biomarin Pharmaceutical Inc. (BMRN) $69.55 8.19%
Mercadolibre Inc. (MELI) $1,940.00 6.07%
Intuitive Surgical Inc. (ISRG) $401.23 5.59%
Expedia Group Inc. (EXPE) $321.07 4.25%
Charter Communications Inc. (CHTR) $157.69 4.15%
Hasbro Inc (HAS) $97.04 3.84%
Intuit Inc. (INTU) $336.44 3.62%
Illumina Inc. (ILMN) $192.84 3.29%
Seagate Technology Plc (STX) $820.52 3.29%
Western Digital Corp. (WDC) $437.93 3.02%
Nasdaq 100 - Fallers
Monster Beverage Corp (MNST) $45.53 -49.85%
Qvc Group Inc Series A (QVCGA) $0.34 -13.49%
Microchip Technology Inc. (MCHP) $81.02 -4.59%
DENTSPLY Sirona Inc. (XRAY) $11.61 -3.89%
JD.com, Inc. (JD) $31.92 -3.67%
Sirius XM Holdings Inc (SIRI) $28.51 -3.31%
eBay Inc. (EBAY) $106.01 -3.26%
Skyworks Solutions Inc. (SWKS) $68.33 -3.25%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $541.35 -3.16%
QUALCOMM Inc. (QCOM) $162.68 -3.03%
18.31 (0.17%)
55.21
0.00