It is a solid start to the month of August in the US stock market.
The gains range from 1.32% all way up to 2.13%
The S&P, Nasdaq and Dow each rose for the 3rd straight day. NASDAQ Composite (IXIC):+2.13% NASDAQ 100 (NDX):+1.78% Russell 2000 (RUT):+1.73% S&P 500 (SPX):+1.48% Dow Jones Industrial Average (DJI):+1.32% Today’s rally was led by high-beta growth and technology stocks as investors embraced a stronger risk-on tone. Cybersecurity, AI infrastructure, cloud computing, semiconductors, renewable energy, and enterprise software names dominated the leaderboard, with CrowdStrike and Nebius NV posting double-digit gains and SoFi and First Solar also advancing more than 10%.
The broad buying interest extended across many of the market’s leadership groups, including AI-related names such as Coherent, Lumentum, Broadcom, Meta, Oracle, and Vertiv, suggesting investors were once again rotating back into growth after recent volatility. Airlines also participated in the advance, while industrial and healthcare leaders such as Boeing (best day since December), Eaton, and Intuitive Surgical added to the market’s broad-based strength. CrowdStrike (CRWD) — +19.49% Nebius NV (NBIS) — +11.64% SoFi Technologies (SOFI) — +10.55% First Solar (FSLR) — +10.28% Coherent (COHR) — +9.60% Lumentum (LITE) — +9.24% Oracle (ORCL) — +9.23% Vertiv Holdings (VRT) — +8.92% Boeing (BA) — +8.01% Defiance Drone & Modern Warfare ETF (JEDI) — +6.71% Intuitive Surgical (ISRG) — +6.25% Corning (GLW) — +6.16% Broadcom (AVGO) — +6.08% SanDisk (SNDK) — +6.07% Meta Platforms (META) — +6.01% Dell Technologies (DELL) — +5.89% Alaska Air (ALK) — +5.84% United Airlines (UAL) — +5.82% Eaton (ETN) — +5.53% Credo Technology (CRDO) — +5.49% American Airlines (AAL) — +5.11% After the close, Palantir beat expectations across the board, delivering stronger-than-expected results on both the top and bottom lines while also raising its outlook.