US stocks traded unevenly Tuesday as investors tracked oil prices, Middle East talks, and upcoming inflation data. Industrial and utility shares supported the broader market, while several large technology stocks weakened. Trading stayed choppy as the headlines changed. At 11:30 a.m. ET, the Dow rose 0.41% to 53,950. The S&P 500 slipped 0.07% to 7,750, while the NASDAQ fell 0.35% to 26,552.

US-Iran Signals Move Oil and Stocks

Reports of possible progress between the United States and Iran changed market direction during the morning. Pakistan’s defense minister said recent signals pointed toward an agreement. Qatar also said Iran-Oman shipping talks had reached an advanced stage.

Oil prices eased after reaching their highest levels since July 31. Brent later fell 0.57% to $87.22, while West Texas Intermediate dropped 0.44% to $81.77. Brent had touched $90.03 earlier. Lower oil prices reduced some concerns about added inflation pressure.

Still, Iran has resisted direct talks with Washington under current conditions. That position kept doubts around a wider settlement and the reopening of the Strait of Hormuz. Dakota Wealth’s Robert Pavlik said, “Any positive news is better than negative news.”

Industrials Counter Weakness in Big Tech

Industrials and utilities led the S&P 500 sectors and limited the index’s decline. Advancing stocks also outnumbered declining shares on both major exchanges. The ratio reached 1.66-to-1 on the NYSE and 1.45-to-1 on NASDAQ.

Technology and communication services stocks moved lower overall. NVIDIA rose about 1.2%, but Microsoft lost 0.8% and Apple dropped 1%. Those declines pressured the S&P 500 and the technology-heavy NASDAQ.

NVIDIA gained after announcing an AI infrastructure financing initiative with six large financial groups. The group includes BlackRock, Apollo, and Goldman Sachs. The planned funding measures could mobilize more than $500 billion, although NVIDIA released few financial details.

Intel fell after raising $20 billion through a share sale. The offering marked the chipmaker’s first stock sale since its 1971 listing. The new shares increased supply and kept pressure on Intel during Tuesday’s session.

Inflation Data Sets the Next Market Test

Investors now await the July Consumer Price Index report on Wednesday. The Producer Price Index follows Thursday. Both reports could shape expectations for the Federal Reserve’s September policy meeting.

Recent oil gains have renewed inflation concerns. Meanwhile, July’s weak employment report raised questions about economic growth and consumer demand. Money markets placed roughly equal odds on a September rate increase or no change.

Treasury yields changed little before the inflation releases. The two-year yield fell one basis point to 4.23%, while the 10-year yield held near 4.70%. The 30-year yield moved closer to July’s 19-year highs above 5.28%.

Montis Financial’s Dennis Follmer said, “I expect the CPI report to continue its downward trend.” He said such a result could support holding rates steady.

Earnings Drive Sharp Moves in Single Stocks

Corporate updates produced larger moves outside the main indexes. Cardinal Health gained about 5% after forecasting fiscal 2027 profit above Wall Street estimates. Riot Platforms jumped 9.5% after a report linked it to a $9 billion Anthropic deal.

Several companies moved lower after results or business updates. On’s US-listed shares sank more than 21% after quarterly sales missed estimates. Hims & Hers fell 5.5% after reporting a wider-than-expected second-quarter loss.

Rocket Lab dropped 3.5% after signaling a possible delay to the first Neutron rocket flight. Venture Global lost about 5% after second-quarter revenue came slightly below estimates.

Elsewhere, Argus upgraded Boeing to Buy and set a $265 price target. The firm cited higher production, new certifications, and positive cash flow. PhillipCapital downgraded Airbnb after its rally, although it raised the price target to $158.

Notably, the S&P 500 and Dow stayed close to last week’s records. However, the NASDAQ sat more than 2% below its all-time high. Tuesday’s trading reflected stronger market breadth alongside pressure from selected technology leaders.

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