US Stocks Close Lower as Amazon Falls on FTC Lawsuit and Oil Prices Jump

U.S. stocks closed lower on Monday, with the Dow down 0.70%, the S&P 500 down 0.33%, and the Nasdaq down 0.12%. According to Sina Finance, Amazon fell 2.50% after the U.S. Federal Trade Commission sued the company, while Tesla rose 5.51% and Nvidia gained 1.36%. Oil prices jumped after renewed clashes between the United States and Iran. According to Sina Finance, West Texas Intermediate crude for October delivery rose $2.36 to $85.76 a barrel, while Brent crude for November delivery rose $2.39 to $90.49 a barrel. The article also said U.S. Treasury yields remained elevated as inflation concerns persisted, and that Barclays economist Jonathan Miller wrote in a research note that a 25-basis-point rate hike in September now has more than a 50% chance. According to Sina Finance, Société Générale expects the Federal Reserve to raise rates in September and again in December, with another hike in March 2027. Investors will next watch Friday morning's August nonfarm payrolls report, along with upcoming manufacturing and services PMI data.