Stock market news today: oil jumps as AI jitters weigh on Nasdaq
U.S. stock market news today turned risk-off on July 13, 2026, as oil prices climbed and equity futures slipped after fresh U.S.-Iran strikes and conflicting claims over the Strait of Hormuz. The tech-heavy Nasdaq bore the brunt as AI and chip stocks sold off, while energy rallied and investors braced for bank earnings and Fed testimony.
Wall Street opened Monday under pressure after a weekend escalation in the Middle East. According to Bloomberg, Brent crude climbed about 3% at the open and West Texas Intermediate rose 3.6% to $73.98 a barrel, while S&P 500 futures dropped 0.2% after the index had gained 0.4% on Friday.
Key Takeaways
- Oil jumped and U.S. stock futures fell after renewed U.S.-Iran military strikes over the weekend.
- Conflicting claims over control of the Strait of Hormuz added uncertainty about global energy supplies.
- AI and semiconductor stocks dragged the Nasdaq lower, even as energy shares gained on rising crude prices.
- Higher oil revived inflation worries and lifted Treasury yields, with markets pricing in tighter Fed policy.
- Investors face a heavy week of bank earnings, economic data, and congressional testimony from Fed Chair Kevin Warsh.
Why did oil prices jump on July 13?
The U.S. military launched strikes on Sunday aimed at weakening Iran's ability to target civilian vessels in the Strait of Hormuz, U.S. Central Command said, according to Bloomberg. That followed Iranian drone and missile attacks on U.S. allies including Kuwait, Jordan, and Qatar.
President Donald Trump said the U.S. would reinstate a blockade on Iranian shipping through the waterway and seek a 20% payment on all cargo moving through it. Bloomberg reported Brent crude reached about $80 a barrel, and ship-tracking data showed Hormuz transits on Sunday at their lowest level in a month.
Why did the Nasdaq fall while energy stocks rose?
The session fit the pattern described in Wall Street Journal live coverage: oil jumped while AI jitters weighed on the Nasdaq. Bloomberg noted a chipmaker rout, with the Nasdaq 100 down about 1.7% by mid-afternoon while the Dow slipped 0.3%, cushioned in part by rising energy names.
After a strong run in AI-linked semiconductors, investors appeared to rotate out of richly valued tech and into safer assets as geopolitical risk returned. For broader context on how macro shocks affect portfolios, see our Net Worth & Wealth coverage.
What is on deck for markets this week?
As Yahoo Finance noted, traders are also watching bank earnings and a Fed report. Money markets priced in roughly 50% odds of a July rate hike, Bloomberg reported, after Governor Christopher Waller said officials may need to raise rates to tame price pressures.
The 10-year Treasury yield rose five basis points to 4.61%, reflecting concern that costlier energy could feed inflation. With CPI data and Warsh's congressional testimony ahead, Monday's stock market news today underscored how tightly oil, rates, and tech valuations remain linked.