Market

August 5, U.S. stocks opened broadly higher as the Dow Jones added 0.79%, the S&P 500 gained 0.60% and the Nasdaq Composite edged up 0.34%. Futures strength carried into the cash session on optimism around corporate earnings and a retreat in Treasury yields, while traders awaited fresh economic data later in the week.

Shopify surged 20.76% after a blockbuster earnings beat, followed by NVIDIA up 3.04% as AI demand remained robust. Palantir Technologies Inc. climbed 1.34% on an upbeat outlook, Meta Platforms, Inc. improved 1.29% after unveiling new AI features, and Alphabet advanced 0.59% on cloud momentum. On the downside, Advanced Micro Devices slid 7.01% on cautious guidance, Tesla Motors fell 1.98% amid renewed price cuts, Intel eased 1.28% and Marvell Technology dipped 1.53%.

Elsewhere, ProShares Ultra Silver jumped 8.49% as bullion prices rallied, Jin Medical International Ltd. spiked 17.53% on FDA clearance hopes and TROOPS Inc rose 6.74% in heavy retail trading. Zepp Health Corporation added 4.21% amid wearable-device optimism, while GraniteShares 2x Long AMD Daily ETF plunged 16.75% in sympathy with its underlying chip name and Recon Technology sank 15.23% after announcing a dilutive share offering.

News

Shopify posts record revenue and lifts guidance, shares surge 20.76%. The e-commerce platform beat on both the top and bottom lines and signaled accelerating adoption of its payments tools, sparking a broad rally in online retail names.

Advanced Micro Devices cuts current-quarter outlook, stock drops 7.01%. Management cited softer data-center chip demand and higher inventory levels, raising concerns about margin pressure in the second half.

NVIDIA extends rally with fresh AI server orders, rises 3.04%. Channel checks pointed to stronger GPU shipments into hyperscale customers, reinforcing expectations for another quarter of triple-digit sales growth.

Tesla Motors slips 1.98% as new price cuts hit margins. The EV maker reduced Model Y prices in Europe, stoking fears of a broader margin squeeze ahead of its next earnings release.

Palantir Technologies Inc. raises full-year billings forecast, up 1.34%. The data-analytics firm highlighted growing U.S. government contracts and a budding AI platform pipeline.

Meta Platforms, Inc. unveils consumer AI assistant, shares add 1.29%. Analysts said the product could deepen user engagement across the company’s social apps and open new ad inventory.

Alphabet announces quantum-computing breakthrough, gains 0.59%. The company said its Sycamore processor achieved a new error-correction milestone, bolstering its long-term cloud narrative.

ProShares Ultra Silver jumps 8.49% as spot silver tops $30. Investors rotated into precious-metal plays amid renewed inflation hedging and a weaker dollar.

10-year Treasury yield dips below 3.9%, lifting tech multiples. Lower bond yields reduced discount-rate pressures, supporting long-duration growth stocks at the open.

Federal Reserve Governor signals patience on additional rate hikes, boosts sentiment. The policymaker said recent inflation progress allows the central bank to remain data-dependent, encouraging hopes for a soft landing.