Nasdaq ends lower as oil surge adds to market pressure

Proactive

Mon, August 17, 2026 at 2:48 PM GMT+3 6 min read

Nasdaq ends lower as oil surge adds to market pressure Proactive uses images sourced from Shutterstock

4:15pm: Nasdaq slips from highs

Wall Street finished lower on Monday as rising oil prices and renewed US-Iran tensions put investors on the defensive, while a surge in Treasury yields added another layer of pressure. The Dow Jones fell 0.5% to 53,460, while the S&P 500 dropped 0.5% to 7,745 and the Nasdaq slipped 0.3% to 26,645.

Brent crude climbed above $90 a barrel as tensions involving Iran raised concerns about energy supplies and inflation. Meanwhile, the 30-year Treasury yield reached around 5.3%, its highest level since 2007, keeping pressure on equity valuations.

The pullback came despite continued support from large-cap technology stocks and generally strong corporate earnings. Investors now turn to a busy earnings slate, with Home Depot, Baidu, Klarna and Pony AI due to report before Tuesday's open.

3:20pm: Proactive news headlines

New Era Energy & Digital (NASDAQ:NUAI) has secured construction permits for its Texas Critical Data Centers project, reducing development risk and advancing Phase 1 plans in Ector County and Odessa.
HIVE Digital Technologies Ltd (TSX:HIVE, NASDAQ:HIVE, FRA:YO0, BVC:HIVECO) has signed a five-year, approximately $350 million GPU cloud agreement expected to generate $70 million in annualized revenue and expand BUZZ HPC's revenue base.
VivoPower PLC (NASDAQ:VIVO, FRA:51J) plans to spin off its non-Nordic AI data center assets into a separately capitalized Singapore-based company targeting London and Abu Dhabi listings.
Ocean Power Technologies Inc (NYSE-A:OPTT) has launched a strategic alternatives review with investment bank Bowen advising the company as it seeks to maximize shareholder value.
Reconnaissance Energy Africa Ltd (TSX-V:RECO, OTCQX:RECAF, FRA:0XD) has reported natural gas and potential liquids flowing from its Kavango West 1X discovery well, paving the way for an open-hole horizontal test.
Gunnison Copper Corp (TSX:GCU, OTCQB:GCUMF, FRA:3XS0) has completed planned metallurgical drilling at its Gunnison deposit and expanded testing as it prepares to accelerate its district-wide drilling campaign.

2:15pm: Market movers

SpaceX Corp (NASDAQ:SPCX) is positioned for significant Starlink growth as UBS highlights the potential of its next-generation satellites and expanded ground-network strategy.
Nike Inc (NYSE:NKE, XETRA:NKE) shares have fallen to an 11-year low as weak direct-to-consumer sales and doubts over its retail turnaround weigh on the stock.
Rocket Lab USA Inc (NASDAQ:RKLB) has launched eight satellites for MDA (TSX:MDA) Space as part of a $143 million contract to replenish Globalstar's communications constellation.
Micron Technology Inc (NASDAQ:MU), SanDisk, Western Digital Corp (NASDAQ:WDC) and Seagate Technology Holdings PLC (NASDAQ:STX) gained after reports that the US administration is discouraging domestic technology companies from buying conventional memory chips from Chinese suppliers.
New Era Energy & Digital (NASDAQ:NUAI) has secured key construction permits for its Texas Critical Data Centers project, reducing development risk and advancing its Phase 1 development plans.
HIVE Digital Technologies Ltd (TSX:HIVE, NASDAQ:HIVE, FRA:YO0, BVC:HIVECO) has signed a five-year, approximately $350 million GPU cloud services agreement that is expected to generate about $70 million in annualized revenue and lift BUZZ HPC's contracted and realized revenue base.

1:05pm: Chip stocks rally

Shares of memory and storage chipmakers climbed Monday morning after reports that the U.S. administration is discouraging domestic tech companies from buying conventional memory chips from Chinese suppliers.

Micron Technology Inc (NASDAQ:MU) (Micron Technology Inc (NASDAQ:MU)) rose 5.7%, while Sandisk jumped 8.7%. Western Digital Corp (NASDAQ:WDC) (Western Digital Corp (NASDAQ:WDC)) gained 5.4% and Seagate Technology Holdings PLC (NASDAQ:STX) (Seagate Technology Holdings PLC (NASDAQ:STX)) added 1.7%.

The PHLX Semiconductor Sector index climbed about 2.7% to $12,759, putting it on track to enter a new bull market.

11:30am: Week ahead

Wall Street heads into the new week with a relatively light economic calendar, but investors will have plenty to watch as major retailers offer fresh clues on the health of the US consumer.

Home Depot kicks off the retail earnings slate Tuesday, followed by Target on Wednesday and Walmart on Thursday. Together, the reports should provide a useful snapshot of consumer spending as elevated borrowing costs, a sluggish housing market and persistent price pressures continue to shape behavior.

The other major focus will be the Federal Reserve. Minutes from the Fed's July meeting are due Wednesday and should provide more detail on the debate that led policymakers to leave interest rates unchanged.

10:00am: Nasdaq opens flat

Wall Street was treading water Monday morning, with investors looking ahead to a busy week of retail earnings for clues about the health of the US consumer.

The Dow Jones Industrial Average fell 122 points, or 0.2%, to 53,611, while the S&P 500 slipped 12 points, or 0.2%, to 7,774. The Nasdaq was essentially flat at 26,734.

Oil prices edged higher, with Brent crude trading around $88 a barrel and West Texas Intermediate at $82.

Investors will have plenty to digest this week, with Home Depot, Target and Walmart among the major retailers reporting results. Their earnings and outlooks could provide a fresh read on consumer spending and the resilience of the US economy.

On the economic calendar Monday, the Empire State Manufacturing Survey is due as well as the NAHB Housing Market Index.

Elsewhere, Berkshire Hathaway has increased its exposure to the US housing market, according to regulatory filings, while geopolitical headlines also remain in focus after President Donald Trump ordered a reduction in military drills with South Korea.

Ahead of the bell

US stock futures are treading water this morning, with traders caught between the Federal Reserve's next move and a fresh batch of retail earnings.

Dow futures dipped 0.2%, the S&P 500 nudged up 0.1% after a third straight weekly gain, and the Nasdaq-100 added 0.5%.

It's a quieter week for economic data, so the big-box stores get to steal the show. Walmart, Target, Lowe's and Home Depot all report, offering a read on how the American shopper is holding up as the back-to-school rush kicks in.

The Fed remains the other half of the story. Traders have trimmed the odds of a September rate hike at the Jackson Hole gathering to less than a third, with inflation and jobs figures painting a muddled picture.

Oil is still lurking in the background, with Brent crude ticking up to $89 a barrel as the US takes an economic tack on the Middle East conflict.

Bond markets are stirring too, with 10- and 30-year Treasury yields both up 5 basis points on Friday. Wednesday's Fed minutes could shed more light on official thinking.