Market Open: Stocks Fall, Oil Surges as Trump Threatens Iran • 7/29/26

• Dow down 391 points, S&P 500 down 10 points, Nasdaq down 20 points and in correction territory.
• US crude oil jumped almost 7% to nearly $85 a barrel after an Iranian attack on US forces and President Trump's threat of retaliation.
• Investors anticipate the Fed's interest rate decision at 2 PM ET, with a new Fed Chair's comments on inflation and rates being closely watched.
• Microsoft and Meta (Facebook/Instagram parent) are set to release quarterly reports after the closing bell.

Financial markets are in the red on July 29, 2026, with the Dow, S&P 500, and Nasdaq all down. Oil prices surged nearly 7% following a surprise Iranian attack on US forces and President Trump's retaliatory threats. Investors are also awaiting a critical Fed decision on interest rates, with concerns about potential inflation if oil prices remain elevated.