Market Close: Stocks Mixed, US Threatens Global Iran Sanctions, Bitcoin Rallies • 8/24/26

Summary

CNBC's market close update covers a mixed Monday session with the Dow higher but the S&P 500 and Nasdaq lower and chip stocks weak. Ryan Dietrich says the S&P 500 remains constructive above 7610 support. The update also covers Bitcoin's rally, U.S. Iran sanctions signaling, Trump's Canadian auto tariff threat, and cautious expectations for Fed Chair Walsh and Nvidia earnings.

• Dow gained 140 points while the S&P 500 fell 21 and the Nasdaq dropped 200; chip makers Micron and Cerebras declined.
• Ryan Dietrich sees the S&P 500 as constructive as long as it holds above the June 2nd peak near 7610.
• Bitcoin extended a three-day rally to near 79,000, its biggest since 2023.
• The Treasury Secretary unveiled an anti-Iran global sanctions plan signaling China is not exempt.
• Trump announced a 50% tariff increase on Canadian cars, trucks, and auto parts.
• Pantheon's Ian Shepardson expects Fed Chair Walsh to be cagy at Jackson Hole.
• Northstar Assets' Nimmerit King flagged Nvidia's buy-the-rumor, sell-the-results earnings pattern.
• Tuesday's watchlist includes Dick's Sporting Goods earnings, home prices, consumer confidence, and Starbucks PSLs.