U.S. Stocks: Dow Rises for Third Day, Sets New High

2026-08-03

U.S. Stocks: Dow Hits Roughly One-Month High

Risk Appetite Returns as Middle East Tensions Ease

The Dow Jones Industrial Average rose for a third straight session on the U.S. stock market on the 3rd. The index closed up $693.38, or 1.32%, from the previous weekend at $53,178.41, renewing its high for the first time in roughly a month.

U.S. President Trump said attacks on Iran would stop, easing tensions surrounding the situation in the Middle East. Funds also flowed into mega-cap technology stocks whose earnings growth had been favorably assessed, lifting the broader market.

Trump posted on his social media account on the 1st that he would agree to stop attacks on Iran. Reports had said over the previous weekend that the United States was considering large-scale attacks on Iranian energy facilities, but no attack was carried out. Concerns that the situation in Iran would deteriorate further receded.

Lower Oil Prices Prompt Investor Buying

In the U.S. crude oil futures market on the 3rd, the nearby September contract for West Texas Intermediate fell to the $78-per-barrel range at one point, down more than 7% from the previous weekend. Lower oil prices revived investors' appetite for risk.

Among Dow components, mega-cap technology stocks including Microsoft, Alphabet and Amazon.com posted notable gains. Art Hogan of B. Riley said, 'Cloud and other businesses could post growth above market expectations in their April-June 2026 earnings, easing excessive concerns about return on investment (ROI).'

Boeing also posted a sharp gain after reports said it had received certification from U.S. authorities for the new 737 MAX 7 aircraft under development. Nvidia, American Express and Nike rose, while Home Depot, Caterpillar and Walt Disney were also bought. Chevron, Merck and Apple, meanwhile, declined.

All Three Major Indexes Extend Gains

The tech-heavy Nasdaq Composite Index rose for a third straight session. It closed up 540.043 points, or 2.12%, from the previous weekend at 25,913.896, according to preliminary figures. Meta Platforms, Tesla and SpaceX rose.

The S&P 500, a benchmark used by many institutional investors, also rose for a third straight session. It closed 1.47% higher from the previous weekend at 7,600.50. During trading hours, it at one point rose above the record high of 7,609 set on June 2.

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