Live Nasdaq Composite: Stock Market Bulls Wrestle Control to Start August as Oil Drops 6%

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The bulls are trying to take control at the start of a new month, helped by a sharp retreat in oil and a cooler read from the Treasury market. Dow futures jumped 686 points, or nearly 1.3%, while S&P 500 futures rose 0.6%. Nasdaq-100 futures gained 0.3%, a smaller move but still a positive start for a tech trade that spent last week wrestling with AI capex worries, earnings whiplash, and higher yields.

The catalyst was geopolitical relief. President Trump said he called off planned strikes against Iran and signaled that talks between the two countries would resume Monday, giving traders a reason to unwind some of last week’s energy-risk premium. Brent crude fell about 6% to roughly $82.95 per barrel, while WTI dropped nearly 7% to $78.93. That oil move takes some pressure off the inflation narrative. The 10-year Treasury yield fell 7 basis points to about 4.67%, giving growth stocks a little more breathing room.

Here’s a look at where things stand as of pre-morning trading:

Dow Futures: 53,319 Up 1.29%
Nasdaq 100 Futures: 28,445 Up 0.15%
S&P Futures: 7,562 Up 0.58%

Market Movers

MicroStrategy (Nasdaq: MSTR) gave the Bitcoin-treasury trade a jolt, announcing the sale of 1,638 bitcoin at an average price of $63,957 for roughly $104.7 million. The move is notable because MSTR is usually known as a bitcoin buyer, not a seller. It lands with the stock already down 41% this year and 83% below its all-time high.

AstraZeneca (Nasdaq: AZN) is reportedly in talks with Bristol Myers Squibb (NYSE: BMY) about a possible $400 billion megadeal. If it moves forward, the combination would instantly become one of the biggest healthcare M&A stories on record, putting pharma consolidation back in the spotlight as drugmakers look for scale, pipeline depth, and long-term growth beyond current patent cliffs.

Applied Materials (Nasdaq: AMAT) landed on Goldman Sachs’ refreshed U.S. Conviction List, giving the chip-equipment name a bullish Wall Street nod after a rough stretch for the semiconductor supply chain. The call helps put AMAT back in focus as investors weigh China competition, AI infrastructure spending, and whether the chip selloff has gone too far. Microsoft (Nasdaq: MSFT), last week’s winning tech name, made the list, too.

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