U.S.-Iran Tensions Sink Dow, Semis Lift Nasdaq

U.S. stocks diverged Wednesday as President Trump declared the Iran ceasefire 'over,' sending the Dow down 1.1% and oil prices up 5% while the Nasdaq eked out a 0.2% gain on a semiconductor rebound. Costco reported June sales up 10.6% and announced a $1.47 quarterly dividend, and Levi Strauss topped Q2 earnings estimates and raised its outlook.

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Dow drops 576 points as Trump declares Iran ceasefire over, oil surges The Dow Jones Industrial Average fell 1.1% (576 points) to 52,348, while the S&P 500 slipped 0.3% and the Nasdaq Composite rose 0.2% as semiconductor stocks rebounded. Energy stocks led gains, with oil jumping 5% above $78 a barrel, after President Trump said the U.S.-Iran truce was 'over' and threatened further strikes. 1 2 3 4 5

Costco June sales rise 10.6%, declares $1.47 quarterly dividend Costco reported net sales of $29.24 billion for the five weeks ended July 5, up 10.6% from a year ago. Comparable sales rose 8.8% company-wide and 20.9% for digital channels. The board declared a quarterly dividend of $1.47 per share. 6

Levi Strauss tops Q2 earnings estimates, raises full-year outlook Levi Strauss & Co. reported second-quarter results that beat Wall Street expectations, prompting the denim giant to raise its full-year guidance. The strong performance came despite branding restrictions tied to the FIFA World Cup. 7