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S&P 500 (SPY) $769.79 −0.20% Nasdaq-100 (QQQ) $717.30 −0.90% Dow (DIA) $542.81 +0.44% Russell 2000 (IWM) $299.77 −0.64% 10-Year Treasury (IEF) $93.31 +0.06% Crude Oil (USO) $114.88 −0.78% Gold (GLD) $389.64 +4.14% US Dollar Index (UUP) $28.09 −0.25% Volatility (VXX) $20.51 −3.57% Semiconductors (SMH) $569.70 −1.04% Silver (SLV) $56.07 +4.14% Emerging Markets (EEM) $65.72 −0.42% Bitcoin (BTC) $64,603.03 +0.86% Ethereum (ETH) $1,907.29 +2.08% S&P 500 (SPY) $769.79 −0.20% Nasdaq-100 (QQQ) $717.30 −0.90% Dow (DIA) $542.81 +0.44% Russell 2000 (IWM) $299.77 −0.64% 10-Year Treasury (IEF) $93.31 +0.06% Crude Oil (USO) $114.88 −0.78% Gold (GLD) $389.64 +4.14% US Dollar Index (UUP) $28.09 −0.25% Volatility (VXX) $20.51 −3.57% Semiconductors (SMH) $569.70 −1.04% Silver (SLV) $56.07 +4.14% Emerging Markets (EEM) $65.72 −0.42% Bitcoin (BTC) $64,603.03 +0.86% Ethereum (ETH) $1,907.29 +2.08%
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Market Wrap · August 5, 2026

SpaceX and AMD Fall Despite Record Quarters as Nvidia Wins Exclusivity and Lockup Looms; Gold Jumps 4%

August 5, 2026 · Indices, SpaceX (SPCX), AMD (AMD), Nvidia (NVDA)

U.S. equities finished mixed but mostly lower on Wednesday, August 5. The S&P 500 (SPY) fell 0.20% to $769.79, the Nasdaq-100 (QQQ) fell 0.90% to $717.30, the Russell 2000 (IWM) fell 0.64% to $299.77, while the Dow (DIA) held up better, rising 0.44% to $542.81. Semiconductors (SMH) declined 1.04%, but gold (GLD) and silver (SLV) each jumped 4.14%, to $389.64 and $56.07 respectively — one of the sharper precious-metals moves of the summer, alongside a 3.57% drop in the VXX volatility tracker.

The session’s two biggest single-name stories both involved earnings beats that got sold anyway. SpaceX reported second-quarter revenue of $7.8 billion, up 92% year over year, and guided to a $100 billion annual run rate by December and $1 trillion of revenue by 2030 — then fell 13.61% to $108.27. The drop followed reports of $18.4 billion in Q2 capital expenditures, investor skepticism about the economics of its planned orbital data centers, and the looming expiration of its post-IPO lockup: roughly 911.5 million insider shares become eligible for sale starting Thursday, August 6.

AMD fell 7.04% to $482.05 despite record quarterly revenue of $11.5 billion, up 50% year over year, with data-center revenue doubling to $6.7 billion. The stock dropped after Elon Musk announced SpaceX would use Nvidia exclusively for its AI chip needs going forward, and after AMD guided to flat 56% gross margins for the third quarter despite 41% revenue growth, alongside capital spending that nearly tripled to $808 million. Nvidia (NVDA) rose 3.43% to $219.22 on the exclusivity news.

Elsewhere on the tape

SanDisk fell 5.40%, Uber fell 5.29%, Applied Digital fell 4.48%, Super Micro Computer fell 4.32%, IonQ fell 4.29%, and Alphabet fell 4.03% — a broadly weak day for AI-infrastructure-adjacent names. Vertiv (VRT) was a standout gainer, up 2.97%.

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.