Daily Recap: Business — 4 August 2026

Markets swung between caution and optimism today as geopolitics, food safety and industrial earnings pulled investors in different directions. Oil prices initially eased after Treasury Secretary Scott Bessent suggested a possible U.S.-Iran understanding on the Strait of Hormuz within days, raising hopes for calmer shipping through a vital energy corridor. But that optimism was tempered by Iran’s public denial of direct talks and by a vessel strike near the strait, which revived concerns about supply disruption. On Wall Street, Caterpillar offered a more straightforward boost: the machinery giant posted record revenue and nearly doubled profit, saying demand tied to data-center construction remains strong, sending its shares sharply higher. Chipotle moved the other way, pulling jalapeños from some restaurants during a Minnesota salmonella investigation linked to more than 100 cases, a step that reassured regulators but knocked the stock lower.

Top Business stories

• Chipotle pulls jalapeños from some restaurants amid Minnesota salmonella investigation (15 sources)
• Bessent says US-Iran Strait of Hormuz deal could be reached Tuesday or Wednesday (14 sources)
• Madras High Court orders station bail for Udhayanidhi Stalin in Trisha remarks case (8 sources)
• SpaceX reports first public-quarter results: revenue up 92%, spending and losses draw scrutiny (8 sources)
• US and Iran talks remain uncertain after vessel strike near Strait of Hormuz (7 sources)
• Caterpillar profit nearly doubles as data-center boom boosts record revenue (6 sources)
• Former FBI supervisory agent charged over alleged $1 million crypto theft (6 sources)
• Kelly Osbourne posts messages about Sid Wilson after Slipknot firing (5 sources)

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