Oil jumps $2.10 on Iran tensions as S&P 500 slips and long bonds sell off

US crude settled at $84.50 amid conflicting Iran headlines while the S&P 500 fell 0.52% to 7,745 and a chip-versus-software rotation did the real damage under the surface

Deepakshi

Kristal Research & Marketing team

18 Aug2 min

Key takeaways — AI summary

US benchmark crude settled at $84.50 a barrel, up $2.10, and Brent at $90.87 after conflicting Iran headlines, including an official saying Iran is shifting to a 'fully offensive' stance; energy was the only S&P 500 sector to rise, up 0.87%.
The S&P 500 fell 0.52% to 7,745 and the Nasdaq 100 slipped 0.17% to 29,995; long-dated bonds sold off, with the 10-year Treasury yield at 4.724% and the 30-year above 5.30%, its highest since the Fed's July meeting.
A style rotation dominated beneath the index: chipmakers rose about 1.6% while internet and software names fell around 3%, with ServiceNow down 5.1% and Micron up 4.1% past $1,000.
Bloomberg reported Anthropic's quarterly revenue reached roughly $11.5 billion, about fourteen times a year earlier, giving investors evidence that heavy AI data-centre spending has real revenue behind it.
The New York Fed's Empire State manufacturing survey jumped to 20.6 in August versus the 11.0 expected — its strongest in over four years — though the prices-paid measure climbed to 58.6; gold eased 0.46% to $4,395 in Asian trading.

Generated by Kristal AI · reviewed by the research desk

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