Market Open: Stocks Up, Iran Talks Resume, US Props Up Yen • 8/3/26

• Wall Street indices (Dow, S&P 500, Nasdaq) are higher, with Microsoft and Amazon shares soaring.
• Oil prices are dropping below $80 a barrel, falling over 6%, on US-Iran talks optimism.
• White House National Economic Council Director Kevin Hassett describes recent inflation numbers as 'fantastic,' noting falling housing costs in places like California.
• Mortgage rates are at a one-year high, with a 30-year fixed home loan at 6.83%.
• The US intervened to support the Japanese Yen, marking the first currency intervention in 15 years, amid concerns about US Treasury markets and Japan's financial system stability.
• A potential $400 billion mega-merger between AstraZeneca and Bristol Myers is being reported in the drug industry.
• WestJet flight attendants ended their strike after reaching a tentative pay deal, while Marriott shares fell on mixed quarterly results but raised its outlook.
• Sony's 'Spider-Man: Brand New Day' movie had the second-biggest opening weekend ever, earning $355 million.

Financial markets are showing a positive start to August trading, with major indices up and oil prices falling due to optimism around US-Iran talks. Inflation numbers are viewed favorably by the White House, despite high mortgage rates and a significant currency intervention to prop up the Japanese Yen. A potential mega-merger in the pharmaceutical industry is also making headlines.