U.S. stock markets closed mostly lower on August 11, with all three major indexes edging down. Oil prices surged amid uncertainty surrounding Iran, while Intel weighed on the semiconductor sector. Among the top 20 traded stocks on the NYSE, Nvidia partnered with six financial institutions to plan a $500 billion AI infrastructure financing initiative.
Most popular Chinese stocks traded on U.S. exchanges rose, with Alibaba gaining 3% and Silicon Motion Technology falling 9.96%. Commodities saw broad gains, with oil prices jumping sharply, while copper and gold prices also moved higher. European stocks ended near flat, yet still closed at a record high, supported by optimistic earnings reports.
On the macroeconomic front, Iran demanded war reparations, prompting Donald Trump to claim he would also seek compensation from Tehran. Trump stated that U.S. forces had "100% control" of the Strait of Hormuz and extended the Jones Act waiver by 90 days to ensure U.S. oil supply during a potential conflict with Iran. Trump downplayed his contact with Kevin Warsh, reigniting debate over Federal Reserve independence.
The U.S. and Israel reached an understanding with Syria, facilitating the transfer of nuclear materials from a secret Syrian site. The U.S. Strategic Petroleum Reserve fell below 300 million barrels, contributing to a significant rise in international oil prices. The U.S. federal deficit for the first 10 months of fiscal 2026 reached $1.8 trillion.
Iran's Supreme Leader announced multiple appointments, including a reshuffle of the armed forces' leadership, and named six new senior military commanders. The commander of Iran's Quds Force visited Baghdad for meetings with Iraqi officials. Iran and Pakistan discussed negotiations over the Strait of Hormuz and a Saudi defense agreement. A major earthquake in Colombia resulted in 77 deaths, prompting the government to declare a "national disaster state."
In corporate news, Nvidia teamed up with six Wall Street giants to plan a $500 billion AI infrastructure financing deal. Its credit default swaps surged, drawing attention to the massive funding report. OpenAI unveiled its Daybreak plan upgrade, featuring Blue and Red tiers and the introduction of GPT-5. 6-Cyber. Anthropic canceled a planned 50% price increase, permanently locking in the low price of Sonnet 5, stabilizing AI agent costs.
Amid disappointing earnings, Barrick Gold and Newmont reached a $4 billion deal to accelerate the IPO of their North American assets by year-end. Berkshire Hathaway saw solid earnings and increased capital deployment, with its shares rising 2%. UniCredit held its first formal consultation with Commerzbank regarding regulatory control changes. Intel plans to issue $15 billion in common stock to capitalize on the AI boom. SpaceX shares rebounded, nearing the $135 IPO price.
In commentary, the U.S. recorded its hottest July since 1895. Bessent vowed to defend the yen at all costs, but the market noted the U.S. Treasury's limited resources. The yen fell 1%, erasing half of the gains from historic U.S.-Japan intervention. U.S. Treasuries fell as oil prices rose and corporate bond issuance surged. Cleveland Fed President signaled that multiple rate hikes might be needed to curb inflation. Goldman Sachs co-head of global banking and markets recommended maintaining market positions for three key reasons. European natural gas prices soared amid uncertainty over the reopening of the Strait of Hormuz. The risk of a Strait of Hormuz closure pushed up oil tanker charter costs, nearing $500,000 per day for Middle East routes. U.S. government documents showed that Fed Chair Warsh had completed his pledged divestiture of investments. Sina partners with a major platform for futures account opening, offering safety and speed.
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