Tuesday Close Edition
Records Across the Board: S&P 500 and Dow Hit Fresh Highs, Nasdaq Rallies 2.6% as Palantir Soars Nearly 30% and Oil Keeps Falling on Hormuz Deal Hopes — SpaceX Debuts Public Earnings After the Bell
Market Context: Wall Street delivered a second consecutive record-setting session. The S&P 500 and Dow Jones Industrial Average both closed at new all-time highs, while the Nasdaq Composite surged more than 2.5%. Strong earnings from Palantir and Caterpillar, combined with another sharp drop in crude oil on optimism around a possible Strait of Hormuz agreement, powered broad risk-on flows. Soft second-quarter GDP and sticky core PCE remain the medium-term macro backdrop, but the immediate narrative is de-escalation plus AI monetization.
Market Snapshot
(Close — Tuesday, August 4, 2026, 4:00 PM NYC | Monday closes chain-verified)
| Asset | Prior Close (Mon. Aug 3) | Tuesday Close | Trend |
|---|---|---|---|
| S&P 500 | 7,600.50 (+1.48%) | 7,736.52 (+1.79%) — record | Full Extension |
| Nasdaq | 25,913.90 (+2.13%) | 26,584.99 (+2.59%) | Tech-Led Rally |
| Dow | 53,178.41 (+1.32%) — record | 54,085.88 (+1.71%) — new record | Broad Advance |
| SK Hynix / Memory | Selective bid | Semiconductor complex strong | HBM Bid Intact |
| Oil (Brent / WTI) | Partial rebound | Brent ~$79–80, WTI ~$76 — further decline | De-escalation Driven |
Session highlights
Palantir surged nearly 30% after its blowout print and raised guidance. Caterpillar advanced more than 5% on record revenue and AI-related demand. Chip names (Nvidia, Micron, AMD, Broadcom) posted solid gains. SpaceX reported its first public-quarter results after the close: revenue $7.8 billion (+92% YoY), narrower losses, but capital expenditure of $18.4 billion overshadowed the beat and sent the stock lower in after-hours trading. 10-year Treasury yield eased toward 4.61–4.63%.
Market Sentiment & Technology Sector
The “capex converts” narrative strengthened further. Palantir’s 93% revenue growth and 149% U.S. commercial expansion provided pure-play software validation of AI monetization. Semiconductor stocks rose in sympathy. Microsoft, Amazon, Nvidia and Alphabet continued to benefit from the broader AI infrastructure and cloud demand story established last week. Meta recovered further, while Apple remained more muted amid lingering guidance concerns.
Geopolitics & Global Macro Events
United States
Treasury Secretary Bessent indicated a deal to reopen the Strait of Hormuz could come “today or tomorrow,” reinforcing the de-escalation bid that has driven oil lower for two sessions. Crude’s decline pulled long-end yields lower and eased near-term inflation fears, supporting equities. Soft Q2 GDP (+1.5%) and sticky core PCE (3.3%) still frame the Federal Reserve’s higher-for-longer debate. Labor data later this week (including Friday’s nonfarm payrolls) remain the next major macro checkpoint.
United Kingdom
The Bank of England’s recent 6-3 hold at 3.75% continues to anchor policy. Falling oil prices reduce imported-inflation pressure, offering modest support for sterling and energy-exposed FTSE names while global yields ease.
Poland
WIG20 remains near multi-year highs. Banks benefit from the higher-for-longer rate environment; PKN Orlen tracks the sharp decline in Brent. The combination of lower oil and softer global yields removes two near-term headwinds for the Warsaw market.
SpaceX & Nasdaq-100 Giants Tracker
(State at regular-session close / after-hours)
- Microsoft (MSFT) — Firm. Remains the preferred large-cap AI monetization vehicle after last week’s Azure strength. Forecast: Constructive consolidation after the prior surge.
- Meta (META) — Continued recovery from the prior week’s sell-off. Still requires clearer free-cash-flow evidence versus raised 2026 capex. Forecast: Show-me mode.
- Apple (AAPL) — Relatively muted amid residual guidance and China concerns. Forecast: Near-term overhang persists.
- Amazon (AMZN) — Residual strength after AWS acceleration and the $3 trillion milestone. Forecast: Core “capex converts” holding.
- Nvidia (NVDA) — Solid gains on hyperscaler and semiconductor strength. Forecast: Primary leveraged AI beneficiary.
- SK Hynix — Benefited from the broader memory/semiconductor bid. Forecast: HBM structural demand intact.
- Palantir (PLTR) — Surged nearly 30% on 93% revenue growth, record U.S. commercial expansion and raised full-year guidance. Forecast: Strong confirmation of pure-play AI software monetization.
- SpaceX (SPCX) — First public quarterly results after the close: revenue $7.8 billion (+92% YoY), Starlink and AI segments strong, operating losses narrowed, but capital expenditure of $18.4 billion (heavily AI-driven) sent the stock lower after-hours. Forecast: Growth is clear; the market is now focused on the intensity and duration of AI spending versus cash-flow trajectory and upcoming lock-up dynamics.
Commodities, Currencies & Monetary Policy
Crude extended its decline (Brent below $80, WTI near $76) on Hormuz deal hopes, helping long-end yields ease. The dollar was mixed-to-softer. Gold rose modestly. Month-start flows and the labor-data cascade later this week keep volatility elevated.
Market Outlook
Two consecutive record sessions have been driven by de-escalation in the Middle East and continued AI earnings strength. The sustainability of the move depends on whether a durable Hormuz arrangement materializes, how the market digests SpaceX’s high-capex first public print, and whether Friday’s jobs report supports the soft-landing narrative. Soft GDP and sticky core PCE still impose a structural ceiling while the long end of the curve remains elevated relative to the Fed’s policy rate.
Information Sources (As of ≈4:00 PM ET, Tuesday, August 4, 2026)
- Index closes: Associated Press, CNBC, Yahoo Finance, Motley Fool, Seeking Alpha, Investopedia
- Earnings: Palantir (company/CNBC); SpaceX first public results (Reuters, WSJ, Investopedia, SiliconANGLE); Caterpillar, AMD context
- Oil & yields: Bloomberg, WSJ, CNBC, Reuters
- Geopolitics: Treasury Secretary Bessent comments on Hormuz; prior Trump/Iran messaging
- Macro: Prior BEA GDP/PCE; Bank of England; labor calendar ahead
Primary price anchors: Yahoo Finance / AP closes for August 4, 2026, cross-checked with CNBC, Motley Fool and major market-data providers as of the 4:00 PM ET close.
