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Published: 5 August 2026,10:11
Daily Market Analysis New
Key Takeaways:
*S&P 500 and Dow Jones break above record highs for the first time since early June
*Easing U.S.–Iran tensions push oil prices and Treasury yields lower, supporting risk sentiment
*AI-linked stocks rebound after better-than-expected earnings from major technology names
*Investors focus on upcoming SpaceX and AMD earnings for the next market catalyst
U.S. equities advanced strongly as investor sentiment improved, helping major indexes recover from July’s weakness. The S&P 500 and Dow Jones both closed at record levels for the first time since early June, supported by a more positive macro backdrop and renewed interest in technology shares.
One of the key drivers behind the rally was the easing of tensions between the United States and Iran. Reports that both sides may be moving closer to a deal helped push oil prices lower, reducing concerns over energy-driven inflation. As inflation fears eased, Treasury yields also moved lower, creating a more supportive environment for equities.
The improvement in yields was especially positive for growth stocks, which had been under pressure during July. After several weeks of weakness, the AI trade regained momentum as stronger corporate earnings helped restore confidence in the long-term outlook for artificial intelligence, cloud infrastructure, and semiconductor demand.
The S&P 500 rose 1.8% to close at 7,735.13, marking its first record close since 2 June. The Dow Jones Industrial Average gained 1.7% to settle at 54,085.94, also reaching a fresh record. The Nasdaq Composite outperformed, climbing 2.6% to 26,584.99 as investors rotated back into technology and AI-linked names.
Sentiment was further supported by strong results from major technology companies. Microsoft delivered an impressive earnings reaction, adding around $450 billion in market value in a single session last week. Amazon also surged after its results and extended gains into the new week, lifting its market value above the $3 trillion mark for the first time.
On the data front, U.S. job openings fell to 7.359 million in June, below expectations of 7.454 million. May’s figure was also revised lower. Although the headline reading was softer than expected, the broader labor market picture remained stable, as hiring, separations, quits, and layoffs showed little change.
Overall, Wall Street remains supported by easing geopolitical risks, lower energy prices, softer yields, and renewed optimism toward AI-related earnings. However, traders will continue to monitor upcoming technology results, labor market data, and U.S.–Iran developments to determine whether the rally can continue.
Technical Analysis
Nasdaq is trading higher after breaking above the previous 28,425.00 resistance level, reinforcing a bullish short-term structure.
Momentum indicators remain supportive, with the MACD showing increasing bullish momentum and the RSI at 66 staying above the midline, suggesting that buying pressure remains intact.
If bullish momentum persists, the index could extend gains toward the next resistance level at 30,285.00, followed by 31,435.00 if upside momentum strengthens.
However, if bullish momentum fails to sustain, Nasdaq may experience a technical pullback and retest the 28,425.00 support level, with further downside toward 27,220.00 if selling pressure increases.
Resistance Levels: 30285.00, 31435.00
Support Levels: 28,425.00, 27,220.00
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