The Dow Jones Futures (YM=F) was up 675.00 (1.28%) points today, Monday, August 3rd, 2026, as market sentiment was primarily driven by a significant de-escalation in Middle Eastern geopolitical tensions. President Donald Trump announced the cancellation of planned military strikes against Iran, signaling a shift toward diplomacy and the resumption of peace talks. This development led to a sharp retreat in crude oil prices, providing a massive relief rally for global equities and easing inflationary fears that had previously rattled investors.
The rally was further supported by resilient economic indicators, specifically the ISM Manufacturing PMI, which showed continued expansion in the industrial sector despite recent volatility. Leading the gainers was 3M (MMM), which was up 3.70% as industrial outlooks improved. High-growth and tech-adjacent names also benefited from the stabilizing macro environment, with Nvidia (NVDA) up 1.77%, Johnson & Johnson (JNJ) up 1.61%, and Cisco (CSCO) up 1.33%. UnitedHealth Group (UNH) also saw a gain of 1.00% as investors rotated back into blue-chip leaders.
Conversely, several Dow components faced downward pressure as investors rotated out of defensive and enterprise-heavy stocks. IBM (IBM) was down 2.42%, leading the decliners, followed by Home Depot (HD) which was down 2.14% amid shifting consumer spending concerns. Salesforce (CRM) also struggled, down 1.64%, while Sherwin-Williams (SHW) and American Express (AXP) were down 1.36% and 1.27% respectively, as the market recalibrated expectations for the remainder of the third quarter.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.