S&P 500 Closes at a Record 7,736.52 as Semiconductors Drive a 1.79% Session
S&P 500 close: 7,736.52 (+1.79%) Sentiment: bullish
The S&P 500 closed at 7,736.52 on 4 August 2026, up 1.79% and its first record close in two months, on a semiconductor-led move that lifted the technology sector 4.98%. PLTR.US rose 29.45% to $162.66 after posting second-quarter revenue of $1.94 billion, up 93% year over year, and lifting full-year guidance to a $8.15 billion to $8.16 billion range. West Texas Intermediate crude fell 6.47% to $75.14 on continued US and Iran diplomacy over the Strait of Hormuz, and the US 10-year yield fell 1.26% to 4.63%.
What moved the index
- Technology: XLK +4.98% against a roughly 33% index weight, worth about 165 bps of the 179 bps index move. Semiconductors led, SMH +5.55%, with INTC.US +10.84%, ARM.US +17.36%, MRVL.US +12.81%, MU.US +7.62% and AVGO.US +6.61%.
- Crude into cyclicals and rates: WTI -6.47% to $75.14, Brent -6.06% to $78.69. Industrials XLI +1.77% on roughly 8% weight added about 14 bps, financials XLF +0.87% on roughly 13% weight about 11 bps, with the US 10-year at 4.63%.
- Power generators and defensives: XLU -0.56%, XLE -0.46% and XLV -0.09% across roughly 15% of the index subtracted about 3 bps. NRG.US -15.48%, VST.US -8.15% and CEG.US -2.36% led that side.
Together these account for roughly 187 bps against the 179 bps index move. The 8 bps overshoot reflects sector ETF closes measured against index arithmetic rather than a missing driver. Technology alone carried about nine tenths of the session.
Session highlights
- INTC.US +10.84% to $100.86 and ARM.US +17.36% to $280.56 led the chip names, with SMH +5.55% and ALAB.US +12.65%.
- PLTR.US +29.45%: Q2 revenue $1.94 billion (+93%), adjusted EPS $0.41 against $0.35 consensus, FY26 guidance raised to $8.15 billion to $8.16 billion from $7.65 billion to $7.66 billion.
- 54,085.88 on the Dow (+1.71%) is its first close above 54,000. Russell 2000 +1.85% to 3,036.98.
- VIX +4.04% to 16.50, rising alongside the index rather than against it.
- NRG.US -15.48% to a 52-week low on a Q2 EPS miss against an 11% revenue beat, with FY26 adjusted EPS guidance affirmed at $7.90 to $9.90 against $9.23 consensus.
Sector scorecard
- Best: Technology, XLK +4.98%
- Worst: Utilities, XLU -0.56%
- Dispersion (best minus worst): 5.54 pts
- Utilities held the widest internal spread of any sector. XLU closed down 0.56% while merchant power names fell much further: NRG.US -15.48%, CTRI.US -21.46%, VST.US -8.15%.
Top movers
| Ticker | Move | Reason |
|---|---|---|
| TSAT.US | +36.26% | $2.3 billion Canadian Arctic military satcom contract, its largest ever |
| W.US | +29.97% | Q2 earnings beat on cost cutting and stronger than expected sales |
| PLTR.US | +29.45% | Q2 revenue +93% to $1.94 billion, FY26 guidance raised |
| PAY.US | +29.20% | Q2 revenue $360.7 million (+28.8%), FY revenue guidance lifted to $1.443 billion |
| ZBRA.US | +26.47% | Q2 adjusted EPS $6.35, $1.99 above consensus, FY EPS guidance raised |
| BRKR.US | -21.79% | Q2 revenue $838.5 million against $853.6 million consensus, FY sales forecast cut |
| CTRI.US | -21.46% | Q2 EPS $0.24 beat $0.21, then gapped down at the open. Cause unconfirmed. |
| APTV.US | -16.62% | FY26 EPS guidance cut to $5.60 to $5.80 against $5.91 consensus |
| CIFR.US | -15.65% | $30 million adjusted EBITDA loss in Q2 |
| NRG.US | -15.48% | Q2 EPS miss, shares at a 52-week low |
After-hours earnings
AMD.US reported after the close. Revenue was a record $11.54 billion against $11.28 billion consensus, up 50% year over year, on adjusted EPS of $1.66 against $1.62. Data center AI chip revenue reached $6.72 billion, up 107% year over year. AMD guided third-quarter revenue to $13 billion plus or minus $300 million, against $12.52 billion consensus.
Shares traded lower after the bell despite the beat on revenue, earnings and guidance. Published estimates of that after-hours move disagreed with each other through the evening, so the magnitude is not settled here. AMD.US had closed the regular session +7.00% at $518.58, so the move after the bell gave back part of a strong cash session.
Notable announcements
- TSAT.US signed a $2.3 billion Telesat Lightspeed contract with Canada's Defence Investment Agency for Arctic military Ka-band connectivity, with two five-year options worth about $200 million each taking the total to $2.7 billion. The award adds 27 MDA AURORA satellites, taking the build from 198 to 225.
- APTV.US cut FY26 guidance to revenue of $12.6 billion to $12.8 billion against $13.3 billion consensus, citing China auto weakness and reduced production schedules at local and European carmakers. Q2 revenue was $3.3 billion on adjusted EPS of $1.63.
- PAY.US raised FY26 guidance to revenue of $1.443 billion to $1.458 billion and adjusted EBITDA of $175 million to $185 million after Q2 adjusted EBITDA rose 54% year over year.
Next session catalysts (ET)
- Wed 5 Aug, 08:15: ADP employment change for July, estimate 120K against 98K prior
- Wed 5 Aug, 09:45: S&P Global services PMI, July final, estimate 51.5
- Wed 5 Aug, 10:00: ISM services PMI for July, estimate 54.2
- Wed 5 Aug: EIA crude inventories, with WTI at $75.14 after a 6.47% fall
- Wed 5 Aug: AMD.US first full session after its Q2 report
- Fri 7 Aug: VST.US Q2 results
- Thu 13 Aug: TSAT.US Q2 results, after the Arctic contract award
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