World shares are mixed after US stocks fall back, while oil rebounds
[August 07, 2026] By
ELAINE KURTENBACH
BANGKOK (AP) — World shares were mixed Friday after a modest retreat on
Wall Street, while the price of Brent crude gained more than 1%.
In early European trading, Germany's DAX rose 0.4% to 26,253.77, while
the CAC 40 in Paris edged 0.2% higher to 8,715.47.
Britain's FTSE 100 was up 0.1% at 10,879.57.
The future for the S&P 500 rose 0.1% while that for the Dow Jones
Industrial Average slipped 0.1%.
Selling of computer chipmakers and other stocks linked to the boom in
artificial intelligence appeared to taper off a bit as Tokyo's Nikkei
225 lost 0.1% to 65,606.71.
The Kospi in South Korea dropped 0.6% to 6,258.77 and Taiwan's Taiex
fell 0.4%.
The Shanghai Composite index gained 1% to 3,940.04 after China reported
its exports grew at a slightly slower but still robust pace of about 24%
in July on strong demand for electronics and other high-tech products.
China's huge trade surplus narrowed last month and imports also slowed.
Hong Kong's Hang Seng picked up 0.5% to 25,668.03.
In Australia, the S&P/ASX 200 slipped less than 0.1%, to 9,263.60.
On Thursday, stocks declined on Wall Street as oil prices rose and more
company earnings reports rolled in.
The S&P 500 fell 0.2% and the Dow industrials fell 0.9%. The Nasdaq
composite fell 0.1%.
The price of Brent crude rose nearly 4% on Thursday as progress toward
reopening the Strait of Hormuz, vital to securing stable oil supplies,
remained unclear.
Iran has said it is close to a deal with Oman for reopening the strait.
U.S. President Donald Trump has also previously said a deal is close,
but the conflict has had many starts and stops over the past five
months.
Reopening the strait may require a compromise since the Trump
administration has ruled out Iran charging fees to ships. But Iran has
insisted on some measure of control, saying the strait will not go back
to being an international waterway.
As of early Friday, a barrel of Brent, the international standard, was
up 1% at $83.33. U.S. benchmark crude oil advanced 0.7% to $77.79 per
barrel.
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People walk past an electronic board showing Japan's Nikkei index at
a securities firm Thursday, Aug. 6, 2026, in Tokyo. (AP Photo/Eugene
Hoshiko)
 A fifth of the world’s traded oil
and natural gas once passed through the Strait of Hormuz. Oil prices
have surged as high as $113 due to the war and higher prices have
added more heat to inflation by raising the price of gasoline and
raising costs for shipping.
While markets are still weighed down by worries over the war and
over a possible bubble in investments in artificial intelligence,
strong overall corporate profits have helped allay concerns on Wall
Street about shares being overpriced.
Roughly 85% of companies in the S&P 500 have reported their results
and overall earnings growth for the period is shaping up to be the
strongest since 2021.
Outside of earnings, SpaceX rose 6.1%. More than 911 million SpaceX
shares held by early investors and employees became eligible for
sale Thursday as a lockup period for the stock expired. That is more
than double the shares that were initially offered to the public for
sale during the initial public offering for Elon Musk’s company.
SpaceX jumped as high as $225 a share following its market debut in
June, but has since slumped below its initial $135 offering price.
The stock is currently trading around $115.
The latest monthly jobs report, for July, will be released Friday.
U.S. employment remains strong, but growth in hiring has been
easing. A weekly report on Thursday showed the number of Americans
applying for unemployment benefits rose last week, though layoffs
remain in the historically healthy range of the past few years.
Employers pulled back on hiring in June, adding only 57,000 jobs.
In other dealings early Friday, the dollar rose to 158.46 Japanese
yen from 158.42 yen. The euro fell to $1.1520 from $1.1524.
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