Market Close: Crude Oil Jumps, Stocks Slide, Apple Falls, Lilly Rallies 8-10-2026

• Stocks closed lower, with the Dow down 61 points, S&P 500 down 4.5 points, and Nasdaq down 85 points.
• Oil prices surged 5% amid indications of no immediate US-Iran deal and continued restrictions at the Strait of Hormuz, impacting the energy market.
• Apple fell ~1.5% following a Jefferies downgrade, which suggested a planned 20th-anniversary all-glass iPhone might be canceled, though Deepwater Asset Management believes Apple will stretch out product introductions for better bottom line.
• Eli Lilly shares jumped nearly 4% after its weight-loss pill, Zoundeo, received approval from British regulators, making it the first country in Europe to do so.
• Intel dropped about 4% after announcing plans to raise $15 billion by selling stock shares to fund its contract manufacturing business expansion.

Stocks ended the day lower, primarily driven by a 5% jump in oil prices due to ongoing restrictions at the Strait of Hormuz and uncertainty around a US-Iran deal. Apple shares fell after a downgrade, while Eli Lilly rallied on regulatory approval for its weight-loss pill. Intel also saw a decline after announcing a $15 billion stock sale.