U.S. stock indexes remain under pressure in the final hours of the session

The S&P500 remains near the flat line in the final hours of the August 6 session (-0.06%) following a series of earnings reports, while developments in the Middle East are still being watched.

Iran’s Fars news agency on Thursday published a draft plan under which Iran would ban U.S. and Israeli vessels from passing through the strait. For other countries that have harmed Iran, passage through the strait would be prohibited until compensation is paid. Meanwhile, according to preliminary data, U.S. crude oil imports from Saudi Arabia fell to zero in July for the first time since 1985.

One factor behind the less favorable backdrop for equities today was the rebound in oil prices. The September WTI crude oil futures contract closed at $77.27 per barrel (+2.8%).

Gold prices declined, possibly on profit-taking after yesterday’s rise, although a weaker U.S. dollar and falling Treasury yields continue to support gold prices. Gold futures closed at $4299.6 per ounce (-0.1%).