US stocks near record high, oil falls as Trump claims Iran talks under way
US stock markets rallied to near-record highs despite uncertainty surrounding negotiations regarding the US-Israel war on Iran. Meanwhile, oil prices experienced a decline before showing signs of recovery in Asian markets.
Why it matters
The volatility in global markets reflects investor sensitivity to geopolitical tensions in the Middle East and their potential impact on energy prices.
Benchmark S&P 500 approaches all-time peak as Washington, Tehran offer conflicting accounts of status of talks.
x whatsapp-stroke copylink google Add Al Jazeera on Google info Forbes signage is displayed on the floor of the New York Stock Exchange in New York City, the US, on August 3, 2026 [Jeenah Moon/Reuters] By John Power Published On 4 Aug 2026 4 Aug 2026 The US stock market has surged to the cusp of its all-time high amid conflicting signals about the status of negotiations on ending the US-Israel war on Iran.
The S&P 500 climbed 1.5 percent on Monday, leaving the benchmark index just shy of its closing record of 7,620.90 set on June 2.
The tech-focused Nasdaq Composite jumped 2.1 percent, closing 4.3 percent below its all-time peak of 27,093.90, also set on June 2.
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