Bitcoin Tops $80,000, Oil Sinks As Navy Clears Hormuz Mines: Stock Market Today

U.S. equities edged higher Tuesday, clawing back part of Monday’s AI-infrastructure rout as chipmakers rebounded and a sharp slide in crude oil pulled .President Donald Trump said on Truth Social that the U.S. Navy removed “all mines” from the Strait of Hormuz. A day earlier, Treasury Secretary Scott Bessent on banks and companies that facilitate trade with Iran.West Texas Intermediate crude slid 3.4% to $82.11 a barrel, extending losses below $82 for the first time in weeks.Brent crude fell 3.7% to $88.81, breaking back under the $90 threshold.Energy Price Retreat Takes Pressure Off the Long EndThe 10-year Treasury yield eased to 4.65%, down 6 basis points and off the 20-month high of 4.75% struck on Aug. 21. The 30-year fell 5 basis points to 5.18%, and the two-year slipped 2 basis points to 4.21%.Across U.S. equity markets by midday Tuesday, gains were narrow and tech-led, with defensives and retail lagging badly.The S&P 500 rose 0.3% to 7,673, while the Dow Jones Industrial Average added 64 points, or 0.1%, to 53,481.The Nasdaq 100 outperformed, climbing 0.7% to 29,214 as AI-linked names bounced from Monday’s aggressive drawdown.Within Magnificent Seven stocks, Nvidia Corp. ) rose 1.5% to $211.67 ahead of Wednesday’s fiscal second-quarter report.Gold was little changed, easing 0.2% to $4,644.92 an ounce, with silver down 0.5% at $68.62. Bitcoin briefly topped $80,000, and is now up 25% for the month. Read Also: Canada Fires Back At Trump: Up to 50% Tariffs on $20 Billion of US Goods Tuesday’s Performance In Major US IndicesIndexLast% ChangeMTDYTDS&P 5007,673.49+0.3%+2.5%+12.1%Dow Jones53,480.71+0.1%+1.9%+11.3%Nasdaq 10029,214.23+0.7%+3.3%+15.7%Russell 20003,004.24+0.3%+2.5%+21.1%According to the Benzinga Pro platform:The Vanguard S&P 500 ETF (NYSE:VOO) rose 0.3%.The SPDR Dow Jones Industrial Average ETF Trust (NYSE:DIA) edged up 0.1%.The Invesco QQQ Trust (NASDAQ:QQQ) climbed 0.7%.The iShares Russell 2000 ETF (NYSE:IWM) gained 0.2%.Chip Stocks ReboundCheaper oil pulled inflation expectations lower and took the pressure off long-end yields ahead of Fed Chair Kevin Warsh’s closely watched Jackson Hole speech on Friday.Tech and chip stocks took the bid.Super Micro Computer Inc. (NASDAQ:SMCI) rallied 8.8% to $38.26, rebounding alongside the broader AI-server complex after Monday’s rout.Advanced Micro Devices Inc. (NASDAQ:AMD) rose 4.8%, Marvell Technology Inc. (NASDAQ:MRVL) added 5.2% and Micron Technology Inc. (NASDAQ:MU) gained 2.0%.Oklo Inc. (NYSE:OKLO) climbed 8.4% to $43.02, riding a broad bid across AI-power names that pushed the Nuclear Energy Index up 4.9%. Bloom Energy Corp. (NYSE:BE) rose 5.9% and IREN Ltd. (NASDAQ:IREN) added 5.9% in the same trade.The Technology Select Sector SPDR Fund (NYSE:XLK) led all sectors with a 0.9% gain, followed by the Communication Services Select Sector SPDR Fund (NYSE:XLC) at 0.5% and the Health Care Select Sector SPDR Fund (NYSE:XLV) at 0.4%Defensives and Energy Were a Drag The Consumer Staples Select Sector SPDR Fund (NYSE:XLP) fell 1.2%, the worst performer of the session. The Energy Select Sector SPDR Fund (NYSE:XLE) slid 0.9% alongside the crude unwind. And the Materials Select Sector SPDR Fund (NYSE:XLB) eased 0.4%.At the industry level, the iShares Biotechnology ETF (NASDAQ:IBB) topped the board with a 1.8% advance, followed by the VanEck Semiconductor ETF (NASDAQ:SMH) at 1.5% and the Invesco WilderHill Clean Energy ETF (NASDAQ:PBW) at 1.5%. The VanEck Gold Miners ETF (NYSE:GDX) and the SPDR S&P Metals & Mining ETF (NYSE:XME) each rose about 1.3%.On the other side, the SPDR S&P Oil & Gas Exploration & Production ETF (NYSE:XOP) dropped 1.3%, the SPDR S&P Retail ETF (NYSE:XRT) fell 1.2%.Dick’s: The Session’s Blow-UpDICK’S Sporting Goods Inc. (NYSE:DKS) cratered 28.1% to $128.95. The retailer reported second-quarter adjusted EPS of $3.53 on revenue of $5.59 billion, both short of consensus. It slashed full-year adjusted EPS guidance to $11.00-12.00 against a $14.20 Street estimate.The company also cut its revenue outlook to $21.9-22.2 billion, down from the $22.35 billion expected, citing a more promotional environment in athletic footwear and a thinner product-launch calendar. Pro-forma comparable sales at the acquired Foot Locker business fell 3.6%.The read-across gutted the athletic complex. Lululemon Athletica Inc. (NASDAQ:LULU) fell 4.1% to $117.75 on the DICK’S promotional commentary.Bath & Body Works Inc. (NYSE:BBWI) slid 4.0% to $18.40, appearing to fall in sympathy with the retail complex ahead of its own second-quarter report Wednesday morning.Albemarle Corp. (NYSE:ALB) fell 5.2% to $134.15 as Chinese lithium carbonate futures dropped 2.2% on the session, extending a slide driven by elevated inventories and restarting supply.On the upside, Moderna Inc. (NASDAQ:MRNA) jumped 12.3% to $155.96, as the stock continued to whipsaw following the Aug. 19 Phase 3 readout showing its personalized cancer vaccine, imsimerane autogene, partnered with Merck, reduced melanoma recurrence.Robinhood Markets Inc. (NASDAQ:HOOD) gained 7.3% to $111.20 as Bitcoin briefly topped $81,000 on renewed spot ETF inflows, extending a run that has been the single biggest driver of the brokerage’s revenue mix.Tuesday’s Russell 1000 Top GainersName% changeModerna, Inc.+12.29%Super Micro Computer, Inc.+8.80%Oklo Inc.+8.38%Robinhood Markets, Inc.+7.31%Freedom Holding Corp. (NASDAQ:FRHC) +6.42%Tuesday’s Russell 1000 Top LosersName% changeDICK’S Sporting Goods, Inc.-28.09%Albemarle Corporation-5.20%Watsco, Inc. (NYSE:WSO) -4.17%lululemon athletica inc.-4.10%Bath & Body Works, Inc.-4.03%Image: Shutterstock