Daily Briefing — August 3, 2026 | Oil Tumbles as Trump Calls Off a Strike, and a Packed Week Begins

Oil sinks and stocks rally to open August after President Trump cancels a planned "massive" strike on Iran and says new talks begin today — even as Iran itself has yet to publicly confirm any of it. We cover Brent's sharp drop toward $84, the Dow leading US gains while small caps lag behind, and the relief rally spreading to European and Indian markets, including a bumpy debut for a new end-of-day pricing system on India's National Stock Exchange. We preview a genuinely packed week ahead: ISM manufacturing data today, JOLTS and productivity figures midweek, Friday's critical nonfarm payrolls report, and earnings from Palantir, AMD, SpaceX, Disney, and dozens of others. We also cover Prysmian's acquisition of Atkore, SpaceX's continued slide since its June IPO, and MicroStrategy's latest bitcoin and capital-raising moves. This episode is for informational purposes only and does not constitute financial, investment, legal, or tax advice.