Markets Midday: Oil Above $80 On Iran Deal Doubts, Stocks Mixed, Consumer Spending Rises 8-10-2026

Summary

Stocks are mixed as crude oil jumps above $80 on US-Iran Strait of Hormuz tensions. Stifel's chief economist expects cooling inflation to keep the Federal Reserve on hold. Consumer spending rose, boosted by an early Amazon Prime Day shift, while Hewlett Packard Enterprise gained on a Morgan Stanley upgrade and Intel fell on a large share sale announcement.

• Major indexes mixed: Dow lower, S&P 500 and Nasdaq near flat.
• Crude oil surges almost 4% above $80 on Iran deal and Strait of Hormuz difficulties.
• Stifel economist Lindsey Piegza sees cooling inflation reinforcing Fed's wait-and-see rate policy.
• Consumer spending rose 0.3% per CNBC/NRF retail monitor, aided by summer sales and back-to-school promotions.
• Amazon Prime Day's move to June from July shifted a chunk of sales earlier.
• Hewlett Packard Enterprise up 4% after Morgan Stanley upgrade to overweight on strong corporate demand.
• Intel down 3% after announcing $15 billion share sale for contract manufacturing buildout.