| 📊 Alain’s Holdings — August 3, 2026 | ||||
|---|---|---|---|---|
| Symbol | Name | Price | Change | Change % |
| VOO | Vanguard S&P 500 ETF | 696.40 | +9.75 | +1.42% |
| QQQ | Invesco QQQ Trust | 700.07 | +12.08 | +1.76% |
| XIU.TO | iShares S&P/TSX 60 ETF | 52.76 | 0.00 | 0.00% |
Wall Street kicked off August with a strong rally as investors welcomed easing geopolitical tensions, upbeat manufacturing data, and another week of closely watched corporate earnings.
Market Performance
- 📈 Nasdaq Composite: +2.1%
- 📈 S&P 500: +1.5%
- 📈 Dow Jones Industrial Average: +1.3% (new record high)
Technology stocks led the advance, helping the major indexes recover from last month’s volatility and begin August on an optimistic note.
Big Tech Leads the Recovery
Once again, the technology sector set the pace for the market.
Investors returned to growth stocks as confidence improved following last week’s strong earnings from Microsoft and Amazon. The rally suggests that, despite ongoing questions about AI spending, Wall Street continues to believe the largest technology companies are well positioned to benefit from the next wave of artificial intelligence.
This week brings another busy earnings calendar.
Palantir reports after the close today, while investors are also preparing for SpaceX’s first quarterly earnings report since becoming a publicly traded company. Both companies could provide fresh insight into demand for AI software, defense technology, and space infrastructure.
Diplomacy Lifts Market Sentiment
Geopolitics also provided a boost.
Markets reacted positively after President Trump announced he had postponed a planned military strike against Iran in favor of negotiations aimed at reopening the Strait of Hormuz.
The prospect of diplomacy helped reduce fears of supply disruptions.
Oil prices declined as investors priced in a lower risk of further escalation in the Middle East.
Lower energy prices also eased inflation concerns, supporting today’s broad market rally.
Manufacturing Shows New Strength
Economic data added another reason for optimism.
The ISM Manufacturing PMI climbed to 55.6, moving further into expansion territory and comfortably above June’s reading.
The report suggests manufacturing activity is gaining momentum despite higher interest rates and ongoing geopolitical uncertainty.
A stronger manufacturing sector could help support corporate earnings during the second half of the year.
All Eyes on Friday’s Jobs Report
Attention now turns to Friday’s employment report.
The labor market remains one of the most important indicators for Federal Reserve policymakers.
A stronger-than-expected report could reinforce expectations that interest rates will remain elevated for longer.
A softer report, on the other hand, could strengthen hopes that inflation is cooling without a significant slowdown in economic activity.
The Bottom Line
Monday’s rally reflected renewed confidence across several fronts.
- Technology stocks regained momentum.
- Manufacturing data surprised to the upside.
- Diplomatic progress eased geopolitical concerns.
- Oil prices moved lower.
The week is just getting started, however.
With major earnings reports and Friday’s jobs report still ahead, investors are likely to remain focused on whether economic strength can continue without reigniting inflation.
For now, Wall Street is entering August with cautious optimism.
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