Market Open: Stocks Mostly Lower, Oil Rises, Intel Falls On Share Sale 8-10-2026

Summary

Stocks opened mostly lower on August 10, 2026, as Iran set conditions for reopening the Strait of Hormuz, pushing oil prices up about 2%. Francisco Blanch of Bank of America warned that shipping flows remain a fraction of what is needed to stabilize energy markets, with escalation risks into winter. Intel fell sharply on a $15 billion stock sale plan, Apple slipped on a Jefferies downgrade tied to a cancelled iPhone model, and House Democrats called for AI cybersecurity hearings.

• Major US indices opened mostly lower; Dow fell 78 points, S&P 500 near flat, Nasdaq down 0.1%.
• Oil rose ~2% after Iran demanded the US satisfy several demands before the Strait of Hormuz can reopen.
• BofA’s Blanch said only 5-10 ships per day transit Hormuz, versus 80-100 needed to stabilize prices, raising risk of escalation into winter.
• Intel shares fell nearly 5% after announcing a $15 billion stock sale to fund new chip factories.
• Apple slipped over 1% after Jefferies downgraded to underperform, citing cancellation of a planned all-glass iPhone model.
• House Democrats requested a hearing with AI executives over recent AI-caused cybersecurity breaches.
• Peter Schacknow noted upcoming CPI and PPI data will reveal how much oil is feeding into July inflation.