U.S. Stocks Extended Gains as S&P 500 Hovered Near Fresh Record

Barry Adams
10 Aug, 2026
New York City

U.S. stocks advanced on Monday and extended previous week's highs amid a growing doubt over a temporary deal between the U.S. and Iran. 

The S&P 500 Index increased 0.2%, and the tech-focused Nasdaq Composite advanced 0.5% as investors looked ahead to the release of inflation updates later in the week. 

July consumer price inflation is estimated to cool to 3.4% and the core rate to 2.5%, and the annual producer price inflation is likely to ease to below 5.0%. 

Moreover, July retail sales, unadjusted for inflation, are estimated to stay above 6%, driven by a rise in household goods and motor vehicle parts.   

However, existing home sales are likely to slow to 4.1 million in July, amid elevated mortgage rates and affordability issues. 

The West Texas Intermediate crude oil price edged up 1% to $78.84 a barrel, after Iranian Foreign Minister Abbas Araghchi rejected calls for negotiations as long as the U.S. continues violating the June memorandum of understanding. 

Araghchi demanded compensations for violating the framework agreement, according to Tasnim News Agency, a semi-official news provider affiliated with the Islamic Revolutionary Guard Corps.  

U.S. stocks extended gains on Friday after the July's payrolls fell short of market expectations, and eased pressure on the Federal Reserve to raise rates in the immediate future. 

U.S. nonfarm payrolls experienced a volatile and cooling trend between January and July 2026, ending with an unexpected job contraction in mid-summer.

U.S. nonfarm payrolls decreased by 23,000 in July, overall jobless rate eased to 4.1%, and the average hourly earnings edged up slightly to $37.62 according to the data released by the U.S. Bureau of Labor Statistics. 

On an annual basis, average hourly earnings in the private sector advanced 3.2%, confirming steady wage inflation. 

The agency sharply lowered job gains in June to 63,000 from 129,000 and in May to 20,000 from 57,000, with these revisions employment in May and June combined is 103,000 lower than previously reported.  

So far in the first seven months, the U.S. economy has added about 426,000 net new jobs. 

 

U.S. Movers 

Five major global energy producers - Exxon Mobil, Chevron, BP, TotalEnergies, and Shell- generated close to $48 billion in profit in the second quarter, benefitting from higher crude oil prices after the U.S. and Iran stepped up attacks in the Strait of Hormuz. 

Companies are likely to share some of these windfall profits with shareholders and pay down debts. 

ExxonMobil holdings edged up 0.1% to $153.16, chevron Corp. gained 0.5% to $187.50, Shell PLC decreased 0.2% to $88.36, BP Plc increased 0.6% to $41.88, and TotalEnergies added 0.4% to $86.10.