Stocks Rally as Oil Drops, Amazon Tops $3 trillion and Alibaba Soars | Markets P.M. for Aug. 3

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Peter Lynch
August 3, 2026
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6 minutes read

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What Happened in Markets Today

Brent crude fell almost 5% on hopes of reopening the Strait of Hormuz, while U.S. stock indexes posted strong gains. Iran said Monday that there weren’t any talks under way with the U.S. nor were any meetings planned, after President Trump said the day before he had called off a major strike on the country to provide more time for negotiations. Investors viewed the developments positively. The Nasdaq jumped 2.1%, the S&P 500 rose 1.5%, and the Dow industrials gained 1.3%.

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Author

Peter Lynch

Lynch co-authored several bestselling investment classics, including One Up on Wall Street, Beating the Street, and Learn to Earn. Known for his accessible and common-sense approach to the stock market, he coined the famous investment mantra, "Invest in what you know." This philosophy empowers everyday individual investors to find market-beating opportunities by observing consumer trends and products in their own daily lives before Wall Street notices them.Beyond his writing and investing career, Lynch is a prominent philanthropist. He works actively through the Lynch Foundation to support education, medical research, and cultural organizations. He continues to serve as a vice chairman of Fidelity Management & Research Company, mentoring new generations of financial analysts.

Peter Lynch

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