S&P 500 – 7,736.53 (+1.79%)

Dow Jones – 54,085.94 (+1.71%)

NASDAQ – 26,584.99 (+2.59%)

• MARKETS RALLY AS FALLING OIL EASES INVESTOR FEARS: U.S. equity markets pushed higher on Tuesday as declining oil prices helped calm investor concerns and fueled another risk-on move. Stocks benefited from easing geopolitical tensions, resilient economic data, and continued earnings momentum as investors remained confident in the broader market outlook.
• OIL PRICES DROP AS MIDDLE EAST DIPLOMACY SPARKS OPTIMISM: Crude oil prices moved toward $76 per barrel after U.S. Treasury Secretary Scott Bessent said progress could soon be made toward a deal to reopen the Strait of Hormuz. The potential diplomatic breakthrough sparked hopes for calmer markets and relief across global energy prices.
• TREASURY YIELDS SLIDE AS DOLLAR WEAKENS: Treasury yields moved lower on Tuesday, with the 10-year U.S. Treasury yield hovering near 4.64%. The U.S. dollar also weakened modestly against major currencies as falling yields reflected easing market concerns and shifting investor expectations.
• GLOBAL MARKETS DELIVER MIXED PERFORMANCE: Overseas markets were mixed overnight, with Asian markets closing unevenly while European equities traded higher. Investors continued to weigh global economic conditions, corporate earnings, and improving geopolitical developments.
• DURABLE GOODS SHOW SOFTNESS BUT BACKLOG REMAINS STRONG: New orders for durable goods declined 0.3% in June to $656 billion, missing forecasts for a 0.3% increase. However, unfilled orders rose 0.6% to $1.6 trillion, highlighting a significant backlog that may signal stronger underlying demand than the headline figure suggests.
• PALANTIR RALLIES AFTER EARNINGS BEAT AND STRONGER GUIDANCE: Palantir surged after reporting better-than-expected results late Monday and raising its revenue outlook. The company boosted its fiscal 2026 revenue forecast above Wall Street estimates, further fueling investor enthusiasm around artificial intelligence and data analytics.
• MCDONALD’S SEES MIXED RESULTS AS U.S. SALES COOL: McDonald’s received a modest lift after earnings per share topped expectations, while revenue came in line with forecasts. Global comparable sales rose 1.3% year over year, but U.S. comparable sales growth slowed to 0.8%, down from 3.9% in the first quarter.
• AI AND CHIP STOCKS DRIVE MARKET MOMENTUM:
  AI and semiconductor stocks led the early market advance as investors positioned ahead of earnings reports from Sandisk (SNDK) and Western Digital (WDC). Continued demand for AI infrastructure remained one of the biggest themes supporting technology stocks.
• SNAP JUMPS AS ADVERTISING RECOVERY PICKS UP: Snap climbed after earnings and guidance exceeded expectations. The company highlighted improving advertising momentum as a key driver behind its stronger outlook.
• NIKE SLIDES AFTER JPMORGAN DOWNGRADE: Nike shares moved lower after JPMorgan downgraded the stock, citing challenges in China and concerns that the company’s “Win Now” strategy could pressure profits through fiscal 2028.
• SPOTIFY FALLS AS GUIDANCE DISAPPOINTS: Spotify declined after its outlook for users and operating income came in below expectations, raising concerns about the pace of future growth.
• WAYFAIR SOARS ON STRONG EARNINGS OUTLOOK: Wayfair jumped after delivering impressive earnings and guidance, with the company expecting high-single-digit revenue growth in the third quarter compared with analyst expectations of 4.8%.
• BOEING GAINS AS FAA APPROVES 737 MAX 7: Boeing rallied after receiving Federal Aviation Administration approval for its 737 Max 7 aircraft, a smaller and more fuel-efficient jet. Southwest Airlines also benefited as investors looked ahead to potential efficiency gains from operating the new aircraft.
• COREWEAVE RIDES AI INFRASTRUCTURE WAVE HIGHER: CoreWeave surged as investors continued to embrace the AI data center boom and the company’s expanding partnerships. The AI infrastructure provider is expected to report earnings next week.
• AMAZON MAKES BIG MOVES: Amazon officially surpassed a $3 trillion market capitalization for the first time this week.

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“Find out what you like doing best and get someone to pay you for doing it.”
— Katherine Whitehorn

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Notable Stocks

• Intel Corp. (INTC)
• Palantir (PLTR)
• Amazon (AMZN)
• Apple (AAPL)
• Nvidia (NVDA)

Weekly Notables

Toyota Raises Outlook and Unveils $6 Billion Buyback 

Toyota is hitting the gas after delivering stronger-than-expected fiscal first-quarter results, raising its full-year profit forecast and announcing a major share repurchase program despite ongoing pressure from U.S. tariffs and softer vehicle sales. The world’s largest automaker reported fiscal Q1 revenue and net income that topped Wall Street estimates, giving investors renewed confidence in the company’s ability to navigate a challenging global auto environment. Alongside the results, Toyota announced a roughly $6 billion share buyback and boosted its operating income forecast for the fiscal year ending March 2027.

Labor Market Holds Steady as Job Openings Ease Slightly in June

The U.S. labor market showed signs of cooling but remained resilient in June, with job openings declining modestly while hiring activity improved. New data from the Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS) showed 7.4 million available positions at the start of summer, slightly below prior months but largely in line with economist expectations. Economists surveyed by Bloomberg had forecast 7.45 million job openings for June, making the latest reading a mild slowdown from May and April levels. Compared with a year earlier, openings were also lower, with 7.2 million positions recorded in June 2025.

Earnings Spotlight: Walt Disney (DIS)

Disney reports fiscal third-quarter earnings on Aug. 5. The consensus analyst estimate calls for adjusted revenue of $25.4 billion, up 7.5% year over year, and earnings of $1.85, up 15%.

What to Watch Ahead:

August 5: July ADP employment change, July ISM Services PMI®, and expected earnings from Eli Lilly (LLY), Walt Disney (DIS), Novo Nordisk (NVO), Shopify (SHOP), CVS (CVS), Uber (UBER), Sandisk (SNDK), Western Digital (WDC), and AppLovin (APP).
August 6: Preliminary second-quarter productivity and expected earnings from ConocoPhillips (COP), Cloudflare (NET), and Airbnb (ABNB). 
August 7: June nonfarm payrolls, hourly earnings, and unemployment rate. 
August 10: Expected earnings from Barrick Mining (B), Rocket Lab (RKLB), Hims & Hers Health (HIMS), and Ferguson Enterprises (FERG).
August 11: July existing home sales and expected earnings from Cardinal Health (CAH), Lumentum (LITE), CoreWeave (CRWV), and Super Micro Computer (SMCI). (UBER), Sandisk (SNDK), Western Digital (WDC), and AppLovin (APP).
August 6: Preliminary second-quarter productivity and expected earnings from ConocoPhillips (COP), Cloudflare (NET), and Airbnb (ABNB).
August 7: June nonfarm payrolls, hourly earnings, and unemployment rate.