Major Stock Indexes Post Gains for August Despite Decline Monday Amid Rising Oil Prices
On August 31, 2026, major U.S. stock indexes closed lower after a drop in tech shares and rising oil prices due to heightened tensions between the United States and Iran following military strikes near the Strait of Hormuz. However, all three main indices—the Dow Jones Industrial Average (DJI), S&P 500 (^GSPC), and Nasdaq Composite (^IXIC)—posted gains for August as a whole. The Dow rose by 1.3% in August to mark its fifth consecutive month of positive returns, while the S&P 500 gained 2.6%, ending a two-month losing streak. The tech-heavy Nasdaq surged 3.9%. Despite Monday’s losses, investors remained optimistic about market performance for the month. Oil prices rose sharply as U.S.-Iran tensions escalated, with West Texas Intermediate crude up 3.1% and Brent crude rising by 2.7%. Treasury Secretary Scott Bessent emphasized continued pressure on Iran at a G20 meeting.
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