Markets News, Aug. 3, 2026: Dow Closes at Record; Stocks Surge to Begin August Trading; Oil Prices Sink as Trump Calls Off Iran Strikes
U.S. stocks rose to start August, with the Dow closing at a record, up 1.3% (about 700 points). The Nasdaq and S&P 500 gained 2.1% and 1.5%. Oil fell after Trump said he was holding off on Iran strikes. Investors also looked ahead to July jobs data and earnings from Palantir, McDonald's, and AMD. Amazon shares climbed after results.
How this was made
The 30-second read
Why it matters
Equities opened August higher with the Dow at a record close, while oil fell sharply on a reported pause of Iran strikes. Company-specific catalysts include Palantir’s imminent earnings, Amazon’s post-earnings AWS growth read-through for semis, and Boeing’s FAA certification for the 737 MAX-7. Separately, pharma names moved on M&A talk speculation.
Market read
Traders get a near-term catalyst map: PLTR earnings today, AMD and MCD tomorrow, plus Boeing’s regulatory milestone and oil-driven macro sensitivity.
What to watch
Earnings and jobs data are positioned as the real drivers for the week; without guidance detail, today’s tape strength could fade if macro prints disappoint.
Background
The piece is a multi-part market wrap plus several same-day stock-specific updates, including pre-earnings positioning, post-earnings reactions, and a regulatory approval headline.
Ticker impact
Palantir shares were up more than 2% ahead of its earnings after markets closed, making the upcoming print a near-term catalyst.
Likely elevated volatility into the after-hours report, with direction dependent on results vs expectations.
The article flags a same-day pre-earnings move and explicitly points to the upcoming earnings as the driver, but provides no new earnings numbers yet.
Amazon advanced another 4.5% Monday after strong cloud results, and the article cites AWS sales rising 37% to $42.2B.
Bias to continued upside or consolidation above the post-earnings level, with follow-through dependent on guidance.
The text includes concrete post-earnings fundamentals (AWS +37% to $42.2B) and a same-day price move, both directly attributable to the company.
Advanced Micro Devices is scheduled to report earnings tomorrow, making it a near-term event risk for semis and AI-exposed positioning.
Pre-earnings positioning could swing sharply; direction depends on guidance and AI/data-center demand commentary.
The article provides the timing (tomorrow) but no new AMD-specific fundamentals or guidance.
McDonald's is listed among the corporate earnings expected tomorrow, creating a scheduled catalyst for the stock and consumer sentiment.
Limited edge unless the market later reprices expectations around the print; expect typical earnings volatility.
The article only names MCD as an upcoming earnings report without any new company-specific details.
Microsoft is cited as having strong earnings that helped validate AI spending and supported a rebound in chip stocks.
Supports a constructive tape for AI beneficiaries, though MSFT itself is not described with fresh new numbers in this excerpt.
The article links MSFT earnings to sector sentiment and a chip-stock rebound, but does not provide new MSFT datapoints beyond the reference to results.
Nvidia rose 3% Monday, adding to a 3% Friday move after earnings from major cloud providers.
Near-term upside bias while the market interprets cloud earnings as confirming AI demand; volatility remains high.
The excerpt provides same-day price action and ties it to a specific catalyst narrative (cloud earnings read-across), but no new NVDA-specific disclosure.
Qualcomm and Intel advanced alongside Nvidia, with the article attributing the move to a broader AI-chip sentiment shift.
Likely to track sector momentum; stock-specific direction depends on later company updates.
The article mentions the price move but does not disclose any QCOM-specific news or fundamentals.
Intel advanced with Qualcomm and Nvidia as the SOX index rose about 1% on the AI read-through from big tech earnings.
Short-term follow-through possible if the AI read-through holds; otherwise mean reversion risk.
No Intel-specific disclosure is provided, only participation in the sector move.
Market effects
Semiconductor sentiment is framed as potentially bottoming after big-tech earnings, lifting SOX and AI-exposed chip names.
Primarily U.S.-centric equity and rates narrative, with oil and USD moves influencing global risk appetite.
Oil weakness tied to U.S.-Iran strike pause can affect energy-linked equities and inflation expectations globally.
Counterpoint
The rally may be fragile because the article emphasizes on-again, off-again U.S.-Iran diplomacy, which can quickly reverse oil and risk sentiment.
Key entities
- companyPalantir
Up more than 2% ahead of its earnings after the close.
- companyAmazon
Continued post-earnings strength, with AWS sales cited at $42.2B (+37%).
- companyBoeing
FAA certified the 737 MAX-7, allowing production to begin.
- companyAstraZeneca
Down about 7% on a report of talks to combine with BMY.
- companyBristol Myers Squibb
Slightly higher on the same reported combination talks.
