Wall Street Closes Lower but Posts August Gains on Technology Boost

Wall Street closed August with a daily decline, but technology stocks still gave investors a reason to look back on the month favorably. The Dow Jones Industrial Average fell 0.7% on Monday to 53,185 points, while the S&P 500 dropped 0.33% to 7,686 and the Nasdaq slipped 0.12% to 26,370.

The session came under pressure after oil prices climbed above $86 a barrel. Investors reacted to expectations of a fresh escalation between the United States and Iran, which resumed exchanging attacks overnight from Sunday into Monday.

Despite the final-day losses, the broader monthly performance was stronger than in July. The Dow was nearly flat, while the S&P 500 advanced 1.13% and the Nasdaq gained 1.76%. Analysts highlighted the technology sector, particularly companies involved in artificial intelligence development.

Nvidia, the leading U.S. artificial-intelligence chipmaker, gained 9.57% over the past 30 days after reporting a 126% year-on-year increase in net profit for the second quarter of its 2027 fiscal year. Microsoft rose 9.75% in August and Micron climbed 14.8%.

Other notable monthly gainers included Moderna, whose shares rose 156% to $140 after the biotechnology company announced promising results from an advanced-stage melanoma therapy trial. Palantir gained 51%, Salesforce 50% and Paramount Skydance 37%. Persistent inflation and concern over higher interest rates also shaped trading. Federal Reserve Chair Kevin Warsh expressed concern about inflation at the Jackson Hole symposium, increasing expectations of a September rate increase. Gold and silver fell on Monday but still gained more than 9% and 15% during the month.