US Stock Market Sees Modest Gains Amid Ongoing Uncertainty

The US stock market showed a cautious bias on Tuesday, August 11, as investors balanced relatively stable oil prices against ongoing uncertainty surrounding the Strait of Hormuz and the US-Iran situation. The Dow Jones Industrial Average gained 89.04 points, or 0.16%, to 54,065.02, while the S&P 500 added 9.70 points or 0.13% to 7,762.56.

The Nasdaq Composite was almost unchanged at 26,607.28, up just 1.92 points or 0.01%, as Nvidia's advance provided support to technology shares, although weakness in Alphabet, Amazon and several other large-cap names limited the broader Nasdaq move.

Caterpillar led the listed Dow gainers, rising 2.81% to $861.08 while Home Depot advanced 1.73%, IBM gained 1.14% and Boeing added 1.11%. Nvidia also rose 0.85% to $219.42, helping the index absorb weakness elsewhere.

The market was pulled in different directions as investors watched oil, Middle East diplomacy, inflation and the Federal Reserve at the same time. The prospect of progress toward reopening the Strait of Hormuz has helped contain energy prices, but uncertainty surrounding a wider US-Iran agreement means traders remain reluctant to make aggressive bets.