The Dow Jones Industrial Average increased 0.83% to close at 54,533.87 on August 5, 2026, supported by hopes of increased artificial intelligence spending. The S&P 500 posted a modest gain of 0.07%, while the Nasdaq declined by 0.49%. Investors repositioned away from expensive AI shares lacking immediate profits, looking for stocks with clear revenue and earnings growth.
→ Earnings momentum continues after the 4:00 PM ET closing bell today, with several high-profile reports scheduled to drop. Investors will be closely watching Western Digital Corp. (WDC), which is expected to report earnings of $3.27 per share. As a key player in the storage and memory market, its results often serve as a bellwether for broader tech hardware demand.
→ Markets trimmed expectations for a September Federal Reserve rate hike to around 57%, down from 67% a day earlier.
→ SpaceX stock faces additional pressure this week when 20% of shares will be unlocked for trading.