What Happened Today, Tuesday August 11, 2026, 5:00 PM ET close
Wall Street Eases Lower as Oil Climbs and US-Iran Optimism Cools
A quiet risk-off session as the Strait of Hormuz stays closed and crude keeps grinding higher
ES and NQ at the close
NQ, Nasdaq 100 futures
29,646.75
-0.30% on the day
Day range 29,533.50 to 29,886.75
ES, S&P 500 futures
7,753.25
-0.30% on the day
Day range 7,738.00 to 7,796.00
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No qualifying setups, so the book stayed on the sidelines and protected capital.
Our automated paper book took zero trades on NQ and ES today, ending flat at 0 dollars. None of our tracked setups reached their entry conditions in a low-conviction, headline-driven tape, so there was no winning or losing strategy to name. A flat, selective day is a normal outcome when the market drifts without a clean trend, and sitting out beats forcing a trade into thin conviction.
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SPY and QQQ
The story
US stocks eased lower Tuesday in a quiet session dominated by geopolitics rather than earnings or data. Early optimism about a possible US-Iran deal faded through the day, and with the Strait of Hormuz still shut, oil kept grinding higher and pressured risk appetite. The S&P 500 and Nasdaq 100 each finished down about 0.3 percent, well off their intraday lows, as buyers stepped in near support but never took full control. It was more of a slow bleed than a scare, with the broad market simply drifting back after recent gains.
The MAG7 and the megacaps
With no single megacap catalyst on the tape, the large technology leaders that dominate the S&P 500 and Nasdaq 100 mostly tracked the broader market lower. The modest 0.3 percent slip in the Nasdaq 100 suggests the biggest names cooled off rather than cracked, a normal breather after a strong run. Absent fresh company news, these stocks tend to move with the overall risk mood, and today that mood leaned cautious.
After the bell
US-Iran optimism fades
Hopes for a diplomatic breakthrough with Iran cooled as the day went on, and that shift in tone was the main reason stocks drifted lower. When a hoped-for deal starts to look less likely, markets tend to price in more uncertainty, and that is exactly what happened Tuesday.
Oil keeps climbing
Crude prices continued to grind higher on doubts about a potential US-Iran agreement. Rising oil raises input costs across the economy and can nudge inflation expectations up, which weighs on stocks, especially rate-sensitive growth names.
Strait of Hormuz stays closed
An Iranian security council official signaled the Strait of Hormuz will remain closed unless the US meets Iran's conditions. Because a large share of the world's seaborne oil moves through that chokepoint, a prolonged closure keeps energy markets on edge and feeds the risk-off mood.
Trump lays out Iran options
President Trump framed the choice on Iran as either letting Tehran fail economically or hitting them, per Reuters. Comments like that raise the range of possible outcomes, and markets generally dislike a wider spread of scenarios, which added to the day's caution.
Crypto
Bitcoin drifted alongside stocks, easing about 0.48 percent to close near 63,605 dollars after ranging between roughly 63,198 and 64,417. The move mirrored the risk-off tone in equities, with crypto giving back a small piece rather than making a sharp break. On days driven by geopolitical headlines and firmer oil, bitcoin often trades as just another risk asset, and that was the pattern today.
Into the night
Overnight and intraday, index futures stayed in a fairly tight band as traders watched the US-Iran story more than the charts. Nasdaq 100 futures ranged between about 29,534 and 29,887, while S&P 500 futures held between roughly 7,738 and 7,796. The steady climb in oil, tied to the closed Strait of Hormuz, was the recurring pressure point that kept a lid on any rebound attempts.
What is coming next
NQ support
29,533
Tuesday's intraday low on the Nasdaq 100
NQ resistance
29,887
Tuesday's high, the level buyers need to reclaim
ES support
7,738
S&P 500 intraday low to watch on any dip
Oil and Hormuz
Key driver
Crude direction hinges on the Strait of Hormuz headlines
With no major earnings or data doing the heavy lifting, the next move likely rides on the US-Iran headlines and where oil goes from here. Watch whether the Nasdaq 100 can hold above its 29,533 low and push back through 29,887, and whether the S&P 500 defends 7,738. A softer oil tape or a thaw in diplomacy could quickly reverse today's modest slip, while more Hormuz friction would keep pressure on.
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Educational market recap, not financial advice. Futures and options trading carry substantial risk of loss. Prices reflect the 2026-08-11 session close; charts are live and interactive. Always verify before acting.