# Oil prices slip to $77.61 as US stocks rebound, Trump doubts Iran

**Published:** 2026-07-09T20:37:25.461Z  
**Topic:** Stock Market  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/ef62388f-294e-4400-ae17-bb46b1ffc2a2

Oil falls 0.5% to $77.61 per barrel, S&P 500 up 0.4%, 10‑yr Treasury yield at 4.55% – see why markets steadied amid Middle East tension.

1. **Lede**  
Brent crude slipped 0.5% to $77.61 a barrel on Thursday, while the S&P 500 rose 0.4%, as investors digested fresh US airstrikes on Iran and President Trump’s remarks questioning the durability of the cease‑fire.

2. **At a glance**  

| At a glance | |
|---|---|
| Brent price | $77.61 per barrel (down 0.5% from $78.02) |
| S&P 500 | +0.4% (recovering from prior‑day loss) |
| 10‑yr Treasury yield | 4.55% (down 0.01 pts) |
| Nasdaq Composite | +0.5% |

3. **Market drivers**  
The modest pull‑back in Brent came after the price surge that had lifted it above $78 the day before, but it remained well above the $71.80 level recorded at the end of the previous week. The decline coincided with renewed US airstrikes on Iran, which raised concerns that a full‑scale conflict could choke oil shipments through the Strait of Hormuz and reignite inflation pressures. Higher oil prices historically push central banks toward tighter policy, a scenario that can dampen equities.  

4. **Equity response**  
U.S. equities steadied despite the geopolitical flare‑up. The Dow Jones Industrial Average added 141 points (0.3%) and the Nasdaq rose 0.5%, helped largely by a 7.1% jump in Micron Technology, which cited “surging demand for memory in the AI era” and progress on a massive New York chip fab. In South Korea, the Kospi climbed 0.6% after a 5.3% surge in SK Hynix shares, reflecting continued investor appetite for AI‑related semiconductors.  

5. **Broader context**  
Bond yields eased slightly, with the 10‑year Treasury slipping to 4.55% from 4.56% on Wednesday, easing the pressure that had built from earlier oil‑price spikes. Meanwhile, gasoline prices halted their recent decline; the average regular‑gasoline pump price rose to $3.85, up 68 cents year‑over‑year, according to AAA. Across Europe and Asia, major indexes posted gains—Shanghai up 1.7% and Paris up 0.7%—while Hong Kong’s Hang Seng fell 0.7% after Luxshare’s debut loss.  

## What to watch  
- **Iran‑US tensions:** Any escalation that threatens oil tanker routes through the Strait of Hormuz could push Brent back above $80 and revive inflation concerns.  
- **Upcoming earnings:** Major banks will report Q2 results next week; stronger‑than‑expected profits could reinforce the equity rally despite oil‑price volatility.  
- **Federal Reserve cues:** If the 10‑year yield holds below 4.55% and inflation data stay subdued, the Fed may keep rates steady, supporting risk assets.  

The market’s calm reflects a balance between geopolitical risk and the continued strength of AI‑driven tech stocks. Whether oil‑price pressures or earnings surprises will tip the scales remains to be seen.

## Sources
1. Provo Daily Herald — [Oil prices and stocks hold steadier as calm returns to financial markets...](https://www.heraldextra.com/top-headlines/2026/jul/09/oil-prices-and-stocks-hold-steadier-as-calm-returns-to-financial-markets-worldwide/)
2. Associated Press — [2 men jailed for stabbing an Iranian journalist in London in an attack blamed on...](https://apnews.com/article/iran-international-journalist-stabbed-sentencing-412886c80d0c9d19ad4814c3dbe64dc1)

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Cite as: TrendWatcher, "Oil prices slip to $77.61 as US stocks rebound, Trump doubts Iran", https://www.trendwatcher.in/article/ef62388f-294e-4400-ae17-bb46b1ffc2a2