Market Wrap · August 6, 2026
SpaceX Rebounds 6% on a $1 Trillion Revenue Pledge as Nebius and CoreWeave Extend Their Slide
U.S. equities closed mixed on Thursday, August 6. The S&P 500 (SPY) declined 0.16% to $768.56, the Nasdaq-100 (QQQ) fell 0.37% to $714.65, the Dow (DIA) dropped 0.85% to $538.19, and the Russell 2000 (IWM) slipped 0.51%. Crude oil (USO) jumped 3.47% to $118.87, while gold (GLD) was essentially flat and the volatility-tracking VXX fell 1.37%.
SpaceX led the session’s clearest headline-driven move, rising 6.14% to $114.92 — a day after Wednesday’s 13.61% lockup-driven decline. In its first earnings call as a public company, the company reported second-quarter revenue of $7.8 billion, up 92% year over year, and pulled forward its $1 trillion annual revenue target from 2031 to 2030. Management disclosed $14.1 billion of cloud contracts signed in the quarter and AI segment revenue of $2.56 billion, up 247% year over year, though the AI business remains unprofitable against $15.8 billion of quarterly capital expenditure. Several analysts covering the print, including at The Motley Fool, noted the stock remains down roughly 50% from its post-IPO peak and questioned whether a 65-73x price-to-sales multiple is justified before the AI segment turns a profit.
Nebius fell 13.29% and CoreWeave fell 5.07%, both AI-infrastructure names described in Motley Fool coverage as facing selling pressure tied to Meta Platforms building out its own competing data-center capacity, on top of broader profit-taking across neocloud stocks. Uber rose 3.36% to $70.47 following a strong second quarter — $2 billion of operating income and $10 billion of trailing-twelve-month free cash flow — and a $250 million equity investment in Rivian tied to Uber’s robotaxi ambitions.
Elsewhere on the tape
Datadog fell 19.03% and Symbotic fell 14.88% — the two sharpest single-day declines among the names this site tracks on Thursday. As of this writing, no dated news coverage explains either move specifically; both are noted here as unexplained, not attributed to a cause we can’t source.