Stock Market Today: Dow Rallies to Record, S&P 500 Posts record closes, Oil price Falls to $75

By William Collins, consultant in stock markets – Eurasia Business News, August 4, 2026. Article no 3042

The Dow industrials jumped 907 points, closing at a record for the second-straight day. The S&P 500 rose 1.8%, hitting its first record high since June. The Nasdaq composite surged 2.6%.

The Dow Jones blue-chip index (DJI) closed 1.7% higher, the benchmark S&P 500 index (SP500) ended with a gain of 1.7%, and the tech-heavy Nasdaq Composite (COMP:IND) jumped 2.6%.

Strong results from Palantir and Caterpillar helped pull stock indexes higher. The PHLX Semiconductor index added more than 6.5% and the Russell 2000 index of small stocks also hit a new high.

On the geopolitical front, Treasury Secretary Scott Bessent said the U.S. and Iran could reach a deal as early as Tuesday or Wednesday to reopen the Strait of Hormuz and restore access to commercial shipping.

West Texas Intermediate was trading at $75.64 per barrel shortly before 2 p.m. ET, down $4.70, or 5.85%, while Brent had fallen $4.61 to $79.16

U.S. Treasury yields have declined across the curve. The yield on the 2-year US Treasury (US2Y) fell by 4 basis points to 4.20%, the yield on the 10-year US Treasury (US10Y) fell 5 basis points to 4.62%, and the yield on the 30-year US Treasury (US30Y) fell by 4 basis points to 5.18%.

On August 4, spot gold was around $4,070 per ounce and spot silver was around $60 per ounce in U.S. dollar terms.

European stock markets

European stock markets closed broadly higher on August 4, with the STOXX 600 finishing at a record high.

STOXX 600: closed at a record high; Reuters reported it was up 0.6% to 656.27 by early European trade, and later said it closed at a record high that day.

Euro Area (EU50): 6,508 points, up 1.26% on the session.