US stocks dip on earnings, Iran peace hopes

On August 6, 2026, U.S. stock indexes closed lower, pausing after a strong start to the week that had seen the Dow and S&P 500 reach record highs. Investors digested a mixed batch of corporate earnings and monitored signs of progress toward a peace deal between the United States and Iran. Oil prices rose, with West Texas Intermediate settling up 2.75% at $77.29 per barrel and Brent Crude settling at $82.49 per barrel, up 3.83%. Iran's semi-official Fars news agency reported that an Iranian parliamentary committee is reviewing a preliminary bill that would bar U.S., Israeli, and other 'hostile' vessels from transiting the Strait of Hormuz. In earnings, Western Digital tumbled and Western Digital — Sandisk dropped after their quarterly results, despite strong AI-driven demand forecasts. AppLovin plunged after missing revenue estimates, and Datadog plummeted after guiding to slower third-quarter revenue growth. SpaceX shares rose 6.1% as its post-IPO lockup period expired, defying expectations of insider selling. The broader market was supported by a robust earnings season, with 84.8% of S&P 500 companies beating estimates. Investors awaited key nonfarm payrolls data due on August 7, which could influence the United States — Federal Reserve's interest rate path, especially as Chairman Kevin Warsh has scaled back forward guidance.