Stock Market Rallies Near Record as Oil Prices Ease Inflation Fears

On a Monday in early August 2026, Wall Street found its footing as easing oil prices and a pause in American military action against Iran lifted the weight of inflation anxiety that had pressed down on markets all month. The S&P 500 rose to within a breath of its all-time high, the Dow set a new record, and corporate earnings running at their strongest pace in years gave investors reason to believe the fundamentals might yet justify the optimism. Yet beneath the rally, questions about semiconductor valuations and the durability of AI-driven spending lingered — a reminder that markets, like his