Stock Market Morning Brief Aug 10th 2023

Last night, the major U.S. stock indexes closed lower, with Dow down by 0.54%, Nasdaq by 1.17%, and S&P 500 by 0.7%. The 10-year U.S. Treasury bond yield decreased to 4.014%, resulting in a -80 basis point spread against the 2-year yield, while the VIX fear index dropped by 0.19%. Brent crude oil prices rose 1.53%, and gold's spot price fell 0.52% to $1914.91 per ounce. International oil prices reached a year's high, with the U.S. strategic petroleum reserve increasing by 995,000 barrels, and Iran planning to raise daily oil production by 250,000 barrels. Diplomatic moves include the reopening of the Saudi Arabian embassy in Iran and ongoing discussions about U.S.-Saudi-Israel relations. View more of today's stock market story here.