{"id":2640980,"date":"2026-08-05T13:11:00","date_gmt":"2026-08-05T17:11:00","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sp-hits-record-high-dow-surges-oil-drops-as-trump-navigates-iran-conflict\/"},"modified":"2026-08-05T13:16:40","modified_gmt":"2026-08-05T17:16:40","slug":"sp-hits-record-high-dow-surges-oil-drops-as-trump-navigates-iran-conflict","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sp-hits-record-high-dow-surges-oil-drops-as-trump-navigates-iran-conflict\/","title":{"rendered":"S&#038;P Hits Record High, Dow Surges, Oil Drops as Trump Navigates Iran Conflict"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsp-hits-record-high-dow-surges-oil-drops-as-trump-navigates-iran-conflict%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2640980&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>On Tuesday,major stock indices reached record highs,driven by news of a potential deal to reopen the Strait of Hormuz and strong corporate earnings reports. The S&#038;P 500, nasdaq, and Dow Jones surged by 1.8%,2.6%, and 1.7%, respectively, with the Dow adding over 900 points and closing at 54,086.88. Notable earnings boosts came from software company Palantir, which surged nearly 30%, and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/talarico-claims-to-oppose-corporate-influence-while-benefiting-from-it\/\" title=\"Talarico claims to oppose corporate influence while benefiting from it\">blue-chip firms<\/a> like Caterpillar and McDonald&#8217;s. Disney and Eli Lilly also saw stock increases following positive quarterly results. oil prices remained stable after falling the previous day amid optimism about a possible Iran deal, with Brent crude around $80 per barrel and WTI near $75. Gas prices in the U.S. are around $4.08 per gallon, but President Trump predicted they could drop to $2.50 if the Strait remains open. The Atlanta Fed forecasts third-quarter GDP growth of 5.9%, reminiscent of the robust growth following Reagan&#8217;s tax cuts in the early 1980s. the markets reflect optimism amid geopolitical developments and strong corporate performance.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><br \/>\n<!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><html><body><\/p>\n<section> \t\t\t\t<script>console.log(\"ad slot (AC1)\")<\/script><script>console.log(\"ad slot (IC1)\")<\/script><script>console.log(\"ad slot (IC2)\")<\/script><script>console.log(\"ad slot (IC3)\")<\/script><script>console.log(\"ad slot (IC4)\")<\/script><\/p>\n<p>The S&#038;P 500 and the Dow Jones Industrial Average hit record highs on Tuesday amid news of a deal to reopen the Strait of Hormuz and strong earnings reports from companies.<\/p>\n<p><a href=\"https:\/\/www.investopedia.com\/stock-market-today-dow-jones-s-and-p-500-08042026-12033322\" target=\"_blank\" rel=\"noopener\">Investopedia<\/a> reported, \u201cThe tech-focused Nasdaq Composite, benchmark S&#038;P 500, and blue-chip Dow surged a respective 2.6%, 1.8%, and 1.7%. The Dow added more than 900 points to notch its second closing high this week.\u201d<\/p>\n<p>The S&#038;P closed above 7,700 for the first time, and the Dow Jones ended the day at 54,086.88.<\/p>\n<p>Software maker <a href=\"https:\/\/www.westernjournal.com\/us-military-used-ai-tool-historic-maduro-capture\/\" target=\"_blank\" rel=\"noopener\">Palantir<\/a> reported better-than-expected earnings and lifted its outlook for the quarters ahead, causing the stock to surge nearly 30 percent, leading the way for the S&#038;P 500 and Nasdaq, according to Investopedia.<\/p>\n<p>Blue-chip companies Caterpillar and McDonald\u2019s rose 5.5 percent and 1 percent, respectively, boosting the Dow Jones.<\/p>\n<p><a href=\"https:\/\/www.cnbc.com\/2026\/08\/04\/stock-market-today-live-updates.html\" target=\"_blank\" rel=\"noopener\">CNBC<\/a> reported Wednesday that the S&#038;P and the Dow Jones rose to new all-time highs as markets opened.<\/p>\n<p>\u201cDow member Disney rose more than 4% on better-than-expected earnings for its fiscal third quarter. Additionally, Eli Lilly s moved higher by 5% after its second-quarter earnings and revenue surpassed estimates,\u201d the news outlet said.<\/p>\n<p>\u201cMeanwhile, oil prices remained stable Wednesday after falling Tuesday, when Treasury Secretary <a href=\"https:\/\/www.westernjournal.com\/trump-orders-scott-bessent-cut-off-trade-hostile-nato-member\/\" target=\"_blank\" rel=\"noopener\">Scott Bessent<\/a> said that the U.S. and Iran could be closing in on a deal to reopen the Strait of Hormuz. West Texas Intermediate futures for September delivery were little changed at around $75 per barrel. Brent crude futures for October delivery, the international benchmark, were up 1% at about $80 a barrel,\u201d CNBC added.<\/p>\n<p>Brent crude oil was at approximately <a href=\"https:\/\/www.wbir.com\/article\/news\/nation-world\/brent-crude-tops-125-barrel-iran-war-stocks-retreat\/507-3c45eec2-b859-45fb-b432-b67879fd6e7f?fbclid=IwY2xjawTgHhxleHRuA2FlbQIxMQBicmlkETFVVEo0czFrZE84VDVmVWxYc3J0YwZhcHBfaWQQMjIyMDM5MTc4ODIwMDg5MgABHpa-o2dlw7XXDq1SYm6At_ROOqG4soXbijsOC-f0d0EtIVU0tfwRNutDfbPh_aem_7aas9jghYTVIkZcuZZP7Vg\" target=\"_blank\" rel=\"noopener\">$70 per barrel<\/a> before Operation Epic Fury targeting Iran began in February of this year, and gasoline averaged about $3.00 per gallon\u00a0nationally and spiked to $4.50 per gallon in May, according to <a href=\"https:\/\/www.nytimes.com\/2026\/06\/18\/business\/energy-environment\/iran-war-gasoline-prices.html\" target=\"_blank\" rel=\"noopener\">The New York Times<\/a>.<\/p>\n<p>Gas prices are currently at <a href=\"https:\/\/gasprices.aaa.com\" target=\"_blank\" rel=\"noopener\">$4.08<\/a>, according to AAA.<\/p>\n<p>President <a href=\"https:\/\/www.westernjournal.com\/watch-trump-goes-off-reporter-says-msnow\/\" target=\"_blank\" rel=\"noopener\">Donald Trump<\/a> told Fox News on Tuesday night that if the Strait of Hormuz can remain open, he predicts that gasoline will fall to $2.50 per gallon, given the increased supply that will hit the market.<\/p>\n<p>\u201cNow you take a look, with [the Iran conflict] going on\u2026 we hit an all-time stock market high. 401ks are the highest they\u2019ve ever been by double and triple. And then I read we\u2019re doing badly on the economy,\u201d he said.<\/p>\n<p>\u201cBy the way, job numbers: we have more people working in the United States today than ever in history,\u201d he added. \u201cWe\u2019re doing an unbelievable job.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">\ud83d\udea8 IT\u2019S OFFICIAL: President Trump is now expecting gas to plummet toward $2.50 per gallon if a deal is struck with Iran<\/p>\n<p>\u201cIf we have no friction, I think it\u2019ll go down to $2.50 per gallon. It was $1.85 before I made this little journey to the Islamic Republic of Iran. I had to\u2026 <a href=\"https:\/\/t.co\/uG74ikKQpM\">pic.twitter.com\/uG74ikKQpM<\/a><\/p>\n<p>\u2014 Eric Daugherty (@EricLDaugh) <a href=\"https:\/\/x.com\/EricLDaugh\/status\/2084964725264130099?\">August 5, 2026<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.x.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The Atlanta Federal Reserve is forecasting that the Gross Domestic Product for the third quarter ending Sept. 30 will grow by 5.9 percent.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">On August 4, the <a href=\"https:\/\/x.com\/hashtag\/GDPNow?src=hash&#038;ref_src=twsrc%5Etfw\">#GDPNow<\/a> model nowcast of real GDP growth in Q3 2026 is 5.9%: <a href=\"https:\/\/t.co\/T7FoDdgYos\">https:\/\/t.co\/T7FoDdgYos<\/a>. <a href=\"https:\/\/x.com\/hashtag\/ATLFedResearch?src=hash&#038;ref_src=twsrc%5Etfw\">#ATLFedResearch<\/a><\/p>\n<p>Download our EconomyNow app or go to our website for the latest GDPNow nowcast: <a href=\"https:\/\/t.co\/JPMzsC5TNo\">https:\/\/t.co\/JPMzsC5TNo<\/a>. <a href=\"https:\/\/t.co\/lfyQTtwN13\">pic.twitter.com\/lfyQTtwN13<\/a><\/p>\n<p>\u2014 Atlanta Fed (@AtlantaFed) <a href=\"https:\/\/x.com\/AtlantaFed\/status\/2084661399112860012?\">August 4, 2026<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.x.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>That figure is reminiscent of the growth the U.S. economy experienced following the <a href=\"https:\/\/www.westernjournal.com\/happening-trump-economy-exactly-happened-reagans-first-term-took-off-like-rocket\/\" target=\"_blank\" rel=\"noopener\">Ronald Reagan<\/a> tax cuts of 1981, when GDP increased at a <a href=\"https:\/\/library.cqpress.com\/cqalmanac\/document.php?id=cqal83-1198703#_\" target=\"_blank\" rel=\"noopener\">7.6 percent<\/a> pace in the third quarter of 1983.<\/p>\n<p>The GDP grew at <a href=\"https:\/\/www.bea.gov\/news\/2025\/gross-domestic-product-4th-quarter-and-year-2024-second-estimate\" target=\"_blank\" rel=\"noopener\">2.3 percent<\/a> during President Joe Biden\u2019s last quarter in office in 2024, down from <a href=\"https:\/\/www.bea.gov\/news\/2024\/gross-domestic-product-third-quarter-2024-second-estimate-and-corporate-profits\" target=\"_blank\" rel=\"noopener\">2.8 percent<\/a> the quarter before.<\/p>\n<div style=\"background-color: #f7f7f7; 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