Stock Market Today, Aug. 10: Markets Slip as Oil Gains Fuel Inflation Fears | The Motley Fool
TheS&P 500(^GSPC-0. 06%)fell 0. 06% to 7,753 as it hovered near record territory, while theNasdaqComposite(^IXIC-0. 32%)slipped 0. 32% to 26,605 and theDow JonesIndustrial Average(^DJI-0. 11%)finished 0. 11%. . .
TheS&P 500(^GSPC-0. 06%)fell 0. 06% to 7,753 as it hovered near record territory, while theNasdaqComposite(^IXIC-0. 32%)slipped 0. 32% to 26,605 and theDow JonesIndustrial Average(^DJI-0. 11%)finished 0. 11% lower at 53,976 as it pulled back from its all-time high. IndexS&P 500 IndexToday's Change(-0. 06%)-4. 53Index Level7,753. 11Gold prices climbed 1. 14% to $4,390. 85 as of U. S. market close, and the 10-Year Treasury yield gained 0. 06% to 4. 71%. Energy stocksoutpaced all sectors, with technology and real estate stocks falling the most. Today's biggest movesIntel Corporationshares slumped after the company announced a dilutive $15 billion stock offering to fund artificial intelligence (AI) and manufacturing activities. Meta Platforms, Inc. climbed in intraday trading before finishing up 0. 48% as investors digestedMark Zuckerberg’s AI manifestoand the debut of its Muse Glimmer model. Exxon Mobil Corporationrose alongside crude oil prices, andArcher Aviationsoared 12% on news that it would buy threeBoeingsubsidiaries and that Boeing would take a stake in the firm. What this means for investorsMajor U. S. indexes slipped slightly as oil prices climbed and investors readied for Wednesday’s consumer price data. The continued closure of the Strait of Hormuz is weighing on markets as last week’s hopes for an imminent deal start to fade. Geopolitical and inflation uncertainty caused last week’s rally to stall. Nvidiafell after announcing it would partner with key asset managers on a $500 billion funding package, arguing that the memoranda of understanding it has signed will create investable AI infrastructure. However, investors are increasingly concerned about the capital-intensive nature of the AI race. Emma Newberyhas positions in Nvidia. The Motley Fool has positions in and recommends Boeing, Intel, Meta Platforms, and Nvidia. The Motley Fool has adisclosure policy.