Market Close: Stocks Lower, Oil Higher on Iran; Earnings Season Starts • 7/13/26

• Stocks closed lower, with the Dow down 138 points, S&P 500 down 0.8%, and Nasdaq falling 1.5%.
• US crude oil prices soared almost 9% to over $77 a barrel due to new US-Iran tensions and a blockade in the Strait of Hormuz, leading to rising gas prices.
• Chipmakers like Nvidia, Intel, Micron, AMD, and Broadcom experienced significant declines, while Apple and several oil companies hit all-time highs.
• A 12-state lawsuit was filed to block Paramount's $110 billion acquisition of Warner Bros. Discovery on antitrust grounds.
• The US federal budget deficit worsened, with spending at an all-time high and annual interest on the national debt exceeding $1 trillion.
• Earnings season begins Tuesday with reports from major banks like JPMorgan Chase and Citigroup, alongside the release of the Consumer Price Index (CPI).

Stocks closed lower on Monday, July 13, 2026, driven by surging oil prices amid escalating US-Iran tensions and a blockade in the Strait of Hormuz. Major indices and chipmakers saw declines, while the federal budget deficit worsened. Earnings season kicks off with big bank reports and inflation data due Tuesday.