Oil plunges on Iran deal hopes; tech earnings season begins — August 3, 2026
S&P 500 +0.70% · Nasdaq +1.00% · Dow +0.53% · VIX 16.0 — August 3, 2026
Oil prices collapsed today on optimism over Iran nuclear negotiations, a geopolitical shift that lifted equities broadly but unevenly. The S&P 500 and Nasdaq both climbed—the tech-heavy index up 1%—while the Dow lagged at +0.53%. Market breadth told the real story: only 42 of the top 100 most active stocks advanced, while 57 fell. The VIX stayed calm at 16, but this was not a risk-on rally. This was earnings season kicking off, and the market sorting winners from losers stock by stock.
Amazon surged 15.3% after CEO Andy Jassy's $1 trillion AWS revenue prediction lit up growth narratives in cloud computing. Roblox and Reddit, both down sharply—26.9% and 21% respectively—cratered on user growth and monetization concerns. AXT Inc. rocketed 28.7% on AI semiconductor demand and a pivot to profitability. Alignment Healthcare fell 20.2%, Telus dropped 11.2%, and Coinbase lost 10.6% as crypto capital rotated elsewhere. Bausch Health jumped 14.3% on second-quarter turnaround signals.
The real tell: breadth deteriorating while major indices float higher is the signature of a market dividing itself. Winners like Amazon and AXT are pulling up the averages; losers in unprofitable growth, healthcare, and telecom are getting crushed. No insider cluster buys crossed the tape today to give us a contrarian edge on any of these moves. Earnings season will be the proving ground—companies and their executives are about to explain why their stock is moving the way it is, and the market will either believe them or it won't.
Market commentary generated from the day's data and headlines — not investment advice.
Biggest moves today
- AXTI (AXT Inc) ▲ +28.74% at $60.43 on 29.6M shares — AXT (AXTI) Turns Profitable As AI Demand Story Keeps Undervalued View Alive (Simply Wall St.)
- RBLX (Roblox Corporation) ▼ -26.85% at $35.60 on 60.9M shares — Roblox and Reddit Stocks Just Both Crashed More Than 20%, but Only One Is a Buy (Motley Fool)
- RDDT (Reddit, Inc.) ▼ -20.99% at $140.67 on 29.1M shares — We're 49, Debt-Free Except for a $120K Mortgage, and Have a $2.5M Net Worth. Should I Still Be Maxing Out My 401(k)? (Benzinga)
- ALHC (Alignment Healthcare, Inc.) ▼ -20.20% at $14.85 on 17.5M shares — Alignment Healthcare (ALHC) Stock Trades Down, Here Is Why (StockStory)
- FRMI (Fermi Inc.) ▼ -15.45% at $5.69 on 25.8M shares — Fermi Inc. (FRMI) Rockets 19% as Project Matador Development Accelerates (Insider Monkey)
- AMZN (Amazon.com, Inc.) ▲ +15.32% at $271.58 on 129.1M shares — Is Amazon Stock a Buy After CEO Andy Jassy's $1 Trillion AWS Revenue Prediction? (Motley Fool)
- BHC (Bausch Health Companies Inc.) ▲ +14.26% at $6.89 on 16.9M shares — Bausch Health (BHC) Rockets 28% as Q2 Turnaround Fuels Recovery Outlook (Insider Monkey)
- TU (Telus Corporation) ▼ -11.23% at $9.56 on 32.5M shares — TELUS (TSX:T) Resets Dividend And Guidance With Valuation Still In Debate (Simply Wall St.)
- COIN (Coinbase Global, Inc.) ▼ -10.59% at $146.26 on 20.9M shares — Bitcoin's Coinbase Premium Logs Longest Negative Streak On Record Again As Capital Shifts Elsewhere (Stocktwits)
- RIVN (Rivian Automotive, Inc.) ▼ -9.57% at $15.22 on 54.5M shares — Why Morgan Stanley won’t call Rivian a buy despite upgrade (TheStreet)
Most active by volume
| # | Ticker | Price | Change | Volume |
|---|---|---|---|---|
| 1 | NVDA | $200.75 | +2.93% | 140.0M |
| 2 | AAPL | $308.91 | -7.35% | 132.5M |
| 3 | AMZN | $271.58 | +15.32% | 129.1M |
| 4 | INTC | $90.20 | -1.02% | 109.0M |
| 5 | NOK | $9.14 | +0.55% | 86.7M |
| 6 | IREN | $36.80 | -3.82% | 65.5M |
| 7 | RBLX | $35.60 | -26.85% | 60.9M |
| 8 | RIG | $5.32 | +4.72% | 62.8M |
| 9 | MSFT | $464.72 | +3.02% | 60.8M |
| 10 | ONDS | $7.49 | -1.19% | 59.7M |
| 11 | SPCX | $108.37 | -3.41% | 58.8M |
| 12 | T | $23.25 | +0.17% | 58.1M |
| 13 | ABEV | $3.11 | -0.32% | 57.2M |
| 14 | SOFI | $16.31 | -0.97% | 56.7M |
| 15 | F | $14.68 | -1.21% | 46.2M |
| 16 | MU | $823.03 | -5.90% | 54.5M |
| 17 | RIVN | $15.22 | -9.57% | 54.5M |
| 18 | AAL | $15.27 | -1.04% | 48.1M |
| 19 | NU | $14.33 | -1.10% | 43.0M |
| 20 | GOOGL | $356.13 | +6.73% | 46.5M |
| 21 | SKHY | $143.73 | -3.54% | 46.1M |
| 22 | PFE | $25.01 | +0.40% | 33.9M |
| 23 | NWL | $5.60 | +8.95% | 44.3M |
| 24 | GRAB | $3.50 | +2.94% | 42.2M |
| 25 | PATH | $12.76 | +3.15% | 39.8M |
Market data from Yahoo Finance; insider data from SEC EDGAR Form 4. For research only — not investment advice. Verify on the official source before trading.
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