Markets CoverageThe latest news & analysis
LIVE
Aug. 3, 2026 at 6:58am ET
Stock Market Today: Return to Diplomacy Brings Reprieve for Oil Prices
U.S. and Japan confirm yen intervention
President Trump's latest pivot back to diplomacy has sent oil prices sliding.
Brent crude futures are about 5% lower on hopes that an agreement to finally reopen the Strait of Hormuz could be reached. Trump said yesterday that the U.S. would engage in talks starting later today.
His shift from threats to dialogue—a dynamic that’s become familiar by now, though it hasn’t yielded much progress—was still enough to start August trading on a brighter note after a volatile July. U.S. stock futures advanced and bond yields retreated.
Over in Asia, the yen has strengthened modestly against the dollar after the U.S. and Japan jointly acted to prop the currency, which hit a 40-year low late last month.
Read Original at wsj.com →