Market snapshot, not real-time
S&P 500 (SPY) $757.67 +1.42% Nasdaq-100 (QQQ) $700.07 +1.76% Dow (DIA) $531.22 +1.32% Russell 2000 (IWM) $296.22 +1.72% 10-Year Treasury (IEF) $92.82 −0.14% Crude Oil (USO) $122.12 −5.46% Gold (GLD) $371.71 +0.05% US Dollar Index (UUP) $28.17 +0.00% Volatility (VXX) $21.08 −0.80% Semiconductors (SMH) $545.46 +0.91% Silver (SLV) $52.46 +0.19% Emerging Markets (EEM) $64.32 +0.36% Bitcoin (BTC) $63,466.51 −0.05% Ethereum (ETH) $1,858.77 −1.31% S&P 500 (SPY) $757.67 +1.42% Nasdaq-100 (QQQ) $700.07 +1.76% Dow (DIA) $531.22 +1.32% Russell 2000 (IWM) $296.22 +1.72% 10-Year Treasury (IEF) $92.82 −0.14% Crude Oil (USO) $122.12 −5.46% Gold (GLD) $371.71 +0.05% US Dollar Index (UUP) $28.17 +0.00% Volatility (VXX) $21.08 −0.80% Semiconductors (SMH) $545.46 +0.91% Silver (SLV) $52.46 +0.19% Emerging Markets (EEM) $64.32 +0.36% Bitcoin (BTC) $63,466.51 −0.05% Ethereum (ETH) $1,858.77 −1.31%
AEACapital Research

A student research journal by Aydin Ali

Market Wrap · August 3, 2026

Microsoft’s Earnings Beat Powers a Broad Rally — Nebius, CoreWeave, and Oracle All Surge

August 3, 2026 · Indices, Microsoft (MSFT), Nebius Group (NBIS), CoreWeave (CRWV), Oracle (ORCL)

U.S. equities rallied broadly on Monday, August 3, as investors continued digesting a strong batch of Big Tech earnings from the prior week. The S&P 500 (SPY) rose 1.42% to $757.67, the Nasdaq-100 (QQQ) gained 1.76% to $700.07, the Dow (DIA) added 1.32% to $531.22, and the Russell 2000 (IWM) rose 1.72%. Crude oil (USO) was the one clear laggard on the tape, falling 5.46% to $122.12. Bitcoin and Ethereum didn’t participate in the rally at all — Bitcoin was roughly flat, down 0.05%, and Ethereum fell 1.31%, a notable divergence from the strength in equities.

Microsoft was again the center of gravity. The Motley Fool’s recap of the company’s fiscal 2026 fourth-quarter results highlighted 18% year-over-year revenue growth, Azure crossing $100 billion in annual revenue, and management’s guidance for positive free cash flow in fiscal 2027 despite continued heavy AI-infrastructure spending. A separate Fool piece published the same morning argued that Microsoft and Amazon “won the AI spending week” on their earnings reactions, while Alphabet, Meta, and Oracle’s stocks had lagged their own reports over the prior week. Microsoft rose 4.93% to $487.65, Alphabet rose 4.88%, and Amazon rose 4.58%.

Elsewhere on the tape

The AI-infrastructure and neocloud complex had the day’s largest percentage moves. Nebius Group rose 11.64% to $212.58, and its 2x-leveraged NBIL ETF gained 23.08%; the Fool’s Microsoft earnings recap specifically named Nebius among the beneficiaries of new multi-year compute-capacity deals with Microsoft. CoreWeave rose 19.49% to $85.76. Oracle gained 9.22% to $141.85, a rebound that landed the same day as a separate Fool analysis arguing the stock’s recent 28% three-month decline was overdone given $638 billion in remaining performance obligations — even as another Fool piece the same morning flagged Oracle’s $97.6 billion in net debt as the weakest balance sheet among the five major hyperscalers.

Sources: The Motley Fool, The Motley Fool, The Motley Fool, The Motley Fool. Price data via Massive Market Data. This article is educational and reflects my own analysis; it is not investment advice.