Market Midday: Stocks Lower, Oil Rises Amid Iran War Concerns • 8/11/26

Summary

Stocks were modestly lower with oil prices rising on Iran war uncertainty. Existing home sales fell as high mortgage rates and tight supply pressured prices. The box office showed strong performance with multiple billion-dollar films.

• Dow, S&P 500, Nasdaq slightly lower.
• Oil up ~1% above $83 on Strait of Hormuz concerns.
• Carrie Firestone notes S&P 500 up 13.5% YTD, a nice environment.
• Existing home sales down 1.7% in July as mortgage rates stay high.
• National average gas price still above $4.
• Multiple movies top $1B globally, box office rebounding.