US Stocks Surge After Trump Abandons Iran Strike Plans

Wall Street surged on Monday, August 3, 2026, driven by a decision from Donald Trump to abandon plans to strike Iran. This move decreased Middle East tensions and coincided with an OPEC+ approval for improved oil production, causing energy costs to drop significantly. Brent crude futures fell 4.7 percent to $83.80 a barrel, while West Texas Intermediate crude declined nearly 6 percent to trade below $80 a barrel.

The decline in oil prices contributed to a nearly 5 percent jump in Boeing shares. Other major gains included Amazon, where shares rose more than 4 percent to a new intraday high of approximately $287. This rally followed CEO Andy Jassy's defense of the company's artificial intelligence infrastructure spending.

Broad market indicators showed strong positive momentum, with Dow futures rising 540 points. In the industrial sector, Eaton shares rose nearly 4 percent following an upgrade from Evercore, and Corning received a buy rating from Truist. While US markets rallied, Asian markets ended the day mixed, seeing losses in Japan and China but gains in Hong Kong and Australia.