Iran Strikes, Oil Surge, and Leadership Changes: What's Driving Markets on the Last Day of August

Geopolitical Turbulence Clouds an Otherwise Strong August Close

U.S. equity futures opened quietly on the final trading session of August as fresh American military strikes against Iranian targets in the Strait of Hormuz rattled investor confidence, pushing Brent crude oil above $89 per barrel. At the same time, President Donald Trump unveiled what he called a landmark deal granting the U.S. majority control over more than 65 billion barrels of Venezuela's proven oil reserves — a development with potentially sweeping implications for global energy markets.

Geopolitical Flashpoints Ripple Through Markets

Over the weekend, U.S. forces targeted Iranian positions on Larak Island in the Strait of Hormuz, one of the world's most critical oil transit chokepoints. Iran responded by claiming retaliatory strikes on U.S. military installations in Jordan. Adding further pressure, Treasury Secretary Scott Bessent indicated the administration intends to introduce new secondary sanctions targeting Iran on a weekly basis, beginning with financial institutions linked to the Iranian government.

The escalating tension has naturally drawn attention to major energy names. Oil majors including Chevron (CVX), Exxon Mobil (XOM), ConocoPhillips (COP), Shell (SHEL), and BP (BP) are all in focus as traders reassess crude supply risk premiums.

As of 4:00 a.m. ET, S&P 500 and Dow futures slipped 0.1%, while Nasdaq and Russell 2000 futures were largely flat.

August's Gains Remain Intact — For Now

Despite the Middle East turbulence, major U.S. indexes are still on track to close out August with meaningful gains. The Dow Jones Industrial Average has advanced approximately 2.1% for the month and appears set to notch its fifth consecutive monthly gain. The S&P 500 and Nasdaq Composite have climbed roughly 3% and 4%, respectively, over the same period.

Retail investor sentiment tracked on Stocktwits showed the SPDR S&P 500 ETF (SPY) maintaining a "bullish" reading, while the Invesco QQQ Trust (QQQ), which mirrors the Nasdaq-100 Index, registered a "neutral" stance heading into Monday's session.

Tech Stocks Command Attention

Several major technology names are generating significant investor interest:

Nvidia (NVDA) has been one of the month's standout performers, on pace for an 8%-plus gain in August following a blowout earnings report. CEO Jensen Huang reinforced the AI narrative over the weekend, stating that the artificial intelligence boom is helping reverse decades of manufacturing offshoring by bringing production capacity back to the United States.

Apple (AAPL) enters a historic moment as the company formally transitions its chief executive role. John Ternus officially assumes leadership following Tim Cook's departure, marking one of the most closely watched succession events in corporate history.

Micron Technology (MU) has been among August's top performers, with shares up approximately 13% for the month. Fellow memory chip players SanDisk (SNDK) and SK Hynix (SKHY) are also drawing retail investor attention.

Intel (INTC) received an incremental boost from reports suggesting SK Hynix is evaluating Intel Foundry as a potential manufacturer for HBM base die production — a development that could represent a meaningful new revenue stream for the struggling chipmaker.

CrowdStrike (CRWD) continues to ride a 20% post-earnings surge from last week. The cybersecurity firm's annual Fal.Con 2026 conference kicks off Monday, with the event already sold out.

Other Stocks on Investor Radar

• AST SpaceMobile (ASTS): US Mobile's CEO outlined plans to deploy AST SpaceMobile-powered direct-to-cell coverage on its Verizon-based network during Q4.
• Rocket Lab (RKLB): Shares faced mild pressure after strong winds delayed an Electron rocket launch, compounded by SEC filings revealing insider share sales totaling $2.8 million.
• Sellas Life Sciences (SLS): Early premarket trading saw shares rise roughly 2% following executive commentary highlighting strong clinical expectations for the company's AML drug candidate ahead of key Phase 3 trial triggers.
• Build-A-Bear Workshop (BBW): The retailer came under pressure after cutting its full-year outlook for the second time this year. Notably, investor Michael Burry disclosed he is maintaining his long position despite concerns about management's strategic execution.
• Aon (AON) and KKR (KKR): Reports indicate Aon is nearing a roughly $17 billion deal — including debt — to acquire USI Insurance from private-equity giant KKR.

Other names circulating on Stocktwits included Norwegian Cruise Line Holdings (NCLH), Hecla Mining (HL), Affirm Holdings (AFRM), and UiPath (PATH).

What to Watch This Week

On the economic calendar, Monday brings U.S. Chicago PMI data for August alongside the Dallas Fed Manufacturing Business Index. The week's most consequential data point, however, will be Friday's jobs report — an especially critical release given that Federal Reserve Chair Kevin Warsh's hawkish commentary last week pushed rate-hike expectations meaningfully higher.

On the earnings front, BioLineRx (BLRX) and Science Applications International (SAIC) are scheduled to report before Monday's opening bell, while Cango (CANG) is set to release results after the close.