Plummeting Oil Prices Ease Inflation Fears, Boost Wall Street

WHO:

AP News - President Trump decided to hold off on new strikes against Iran at the urging of allies in the region.

AP News - CEO Donnie King of Tyson Foods reported on the company's performance.

WHAT:

AP News - Oil prices are easing, helping to calm Wall Street's worries about inflation.

AP News - The S&P 500 rose 1.3%.

AP News - The Dow Jones Industrial Average was up 533 points, or 1%.

AP News - The Nasdaq composite was 2% higher.

AP News - The price for a barrel of Brent crude sank 4.7% to $83.83.

AP News - The yield on the 10-year Treasury sank to 4.69% from 4.75%.

AP News - Tyson Foods rose 2% after reporting a stronger profit than analysts expected.

AP News - Companies in the S&P 500 are on track to deliver earnings per share for the spring that are 47% higher than a year before.

AP News - U.S. manufacturing growth accelerated to its strongest level since 2022.

AP News - Micron Technology's stock fluctuated from a drop of 6.4% to a gain of 0.7%.

WHERE:

AP News - Wall Street, New York.

AP News - Persian Gulf.

WHEN:

AP News - The report indicates that the spring earnings are expected to be the strongest growth since the spring of 2021.

WHY:

AP News - Easing oil prices helped to alleviate concerns about inflation and the global flow of crude.

HOW:

AP News - President Trump’s decision to hold off on strikes against Iran contributed to the drop in oil prices.

(UPDATED August 3, 2026 20:39 UTC)

President Trump has decided to hold off on new strikes against Iran at the urging of regional allies, which has contributed to a drop in oil prices and helped ease concerns about inflation. On Wall Street, the S&P 500 rose 1.3%, the Dow Jones Industrial Average climbed 533 points, and the Nasdaq composite was up 2%, while Tyson Foods saw a 2% increase after reporting stronger-than-expected profits. Additionally, U.S. manufacturing growth has accelerated to its strongest level since 2022, with companies in the S&P 500 on track to deliver earnings per share for the spring that are 47% higher than a year before.