Alain’s Holdings
| Symbol | Name | Price | Change | Change % |
|---|---|---|---|---|
| VOO | Vanguard S&P 500 ETF | 660.12 | -2.40 | -0.36% |
| QQQ | Invesco QQQ Trust | 672.88 | +5.14 | +0.77% |
| XIU.TO | iShares S&P/TSX 60 ETF | 49.74 | -0.31 | -0.62% |
| VRT | Vertiv Holdings Co. | 330.97 | +2.48 | +0.75% |
⚠️ Stock Market Recap — Monday, May 4, 2026
Iran Strikes Back. “Project Freedom” Backfires. Markets Pull Off Records.
The bulls barely got a chance to celebrate last week’s records before geopolitics reminded everyone who’s really in charge.
The Dow Jones Industrial Average fell 557 points, or 1.13%, to close at 48,941.90 — its sharpest single-day decline in two weeks.
The S&P 500 slipped 0.41% to 7,200.75, and
the Nasdaq Composite dropped 0.19% to 25,067.80.
The 10-year Treasury yield jumped 6 basis points to 4.438%, while average 30-year mortgage rates climbed back above 6.5% — their highest in over a month. TheStreetMSN
🛢️ The Big Story: “Project Freedom” Triggers Iranian Retaliation
Markets slid into the red following reports that two Iranian strikes hit a U.S. patrol boat and that a U.S. warship was turned back in the Strait of Hormuz. The U.S. denied the reports from Iranian media outlets. However, the UAE confirmed that an oil carrier belonging to the Abu Dhabi National Oil Company had been targeted, and that the Fujairah petroleum export complex had been struck by Iran. MSN
The developments came after President Trump said the U.S. would start helping trapped ships exit the key Gulf waterway on Monday, in a plan dubbed “Project Freedom.” In response, Iran warned it would take action against U.S. ships, and that any U.S. interference in the strait would be taken as a violation of the ceasefire. MSN
WTI crude surged as high as $107.35/barrel before pulling back slightly. Israel, Bahrain, and other Middle Eastern countries went on high alert after missiles struck the UAE, believed to have come from Iran. TheStreet
🏦 Berkshire Hathaway: Buffett’s Last Hurrah
Berkshire Hathaway inched lower after beating earnings and revenue consensus. The company’s cash pile rose to almost $397 billion, and it bought back approximately $234 million of its own shares. Warren Buffett’s successor Greg Abel sent a stark warning to investors: with nearly $400 billion in cash sitting on the sidelines, Berkshire is signaling it sees few attractive opportunities at current valuations. TipRanks
📱 After the Bell: Palantir Blows Past Expectations
Palantir issued a better-than-expected revenue outlook for the year. Sales rose to a record $1.63 billion in the first quarter — Wall Street had expected $1.54 billion. Annual revenue is now forecast to total $7.65–$7.66 billion, far exceeding analysts’ prior forecasts. Shares surged in after-hours trading on the guidance raise, vindicating the AI software bull thesis heading into a crucial week for the sector. BRK.B performance has been depressing, -18% during the past 12 months at a time when the S&P has increased about 30%.
🏆 Today’s Notable Winners
- Circle Internet Group (CRCL) soared 17% and Coinbase (COIN) also gained on reports that the Senate reached a bipartisan agreement on language in the CLARITY Act — a digital asset market structure bill that could reshape crypto regulation. Morningstar
- Palantir (PLTR) rose 2.3% during the session ahead of its after-hours report, then surged further post-close on the earnings and guidance beat.
- Pinterest (PINS) jumped over 15% in after-hours trading after reporting an impressive 18% year-over-year rise in Q1 sales, with revenue hitting $1.01 billion — beating analyst estimates — along with strong Q2 guidance of $1.14 billion at the midpoint. TipRanks
📉 Today’s Notable Losers
- FedEx (FDX) fell 9% and UPS dropped more than 10% after Amazon announced the launch of Amazon Supply Chain Services, extending its full portfolio of freight, distribution, fulfillment, and parcel shipping to all businesses — a direct threat to both carriers’ core business models. TipRanks
- Norwegian Cruise Line (NCLH) sank 8.5% after a mixed earnings report — beating EPS estimates but missing on revenue — and guiding Q2 and full-year earnings below consensus, citing Middle East disruptions and high fuel prices. TipRanks
- Home Depot (HD) was the Dow’s worst performer, falling 2.89%, as rising Treasury yields pressured rate-sensitive home improvement stocks. TheStreet
🤖 The AI Capex Arms Race Just Got More Expensive
The five largest hyperscalers — Amazon, Google, Meta, Microsoft, and Oracle — are now expected to spend $751 billion in capex in 2026, representing 83% growth versus 2025. This estimate has climbed from $673 billion at the start of earnings season and $546 billion at the beginning of 2026. The question of who captures the returns from that spending is shaping up as the defining investment debate of the year. I am invested in VRT, one of the best picks and shovels of the AI industry.
🔭 What’s Next This Week
AMD reports Tuesday after the bell — semiconductors remain the heartbeat of the bull market, and AMD is up 270% over the past year. Options traders are bracing for a 7% move with a bullish tilt. Palantir’s blowout tonight sets the stage for both hardware and software AI themes to rally together. Also this week: Disney, Uber, Airbnb, Shopify, Coinbase earnings, plus the April Jobs Report on Friday.
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