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Morning Note – 08/04/26: Stocks Higher As Earnings Continue To Rip Higher

By Jack Bahrenburg | Market Rebellion · August 4, 2026

Treasury Secretary Bessent interview on CNBC discussing Yen Intervention started at 7:30 a.m. EDT.

Overnight Summary and Early Morning Trading:

  • The S&P 500 finished Monday higher by 1.48% at 7600.50 from Friday higher by 0.70% at 7489.72.
  • The S&P 500 sees support now at 7600 from 7400. Resistance is now at 7700 from 7500. In the last four months, support has moved from 6300 to 7600.
  • S&P 500 hit its 25th All-Time Closing High of 2026 on Tuesday, 6/2/26.
  • Bond Market is lower today on price with the 10-Year Yield at 4.704% from 4.682%.

Executive Summary:

  • Stocks are now in a one-week winning streak, with the S&P 500 rising 1.05% in the last week, ended 7/31.
  • U.S. moved into Week 24 of its attack on Iran, almost six months. Now we are back to negotiating a deal with Iran.
  • We are in a 3-day win streak.
  • The S&P 500 is no longer clustering with another loss of -1% as we are in a new month.

Key Geopolitical Events of Note:

  • Economic news of note.
    • Weekly – API Petroleum Institute Data is out this afternoon at 4:30 p.m. EDT.
    • Monthly –  Factory Orders is out at 10:00 a.m. EDT.
  • President Trump’s schedule:
    • Participates in Executive Time at 8:00 a.m. EDT.
    • Greets the Penn State Nittany Lions, 2026 NCAA Wrestling National Champions at 10:00 a.m. EDT
    • Participates in a Policy Meeting at 12:00 p.m. EDT.
    • Participates in a Swearing-In Ceremony for the Director of National Intelligence at 1:00 p.m. EDT.
    • Travels to Los Angeles in the afternoon.
    • Participates in an RNC Roundtable [6:30 PM Local] at 9:30 p.m. EDT.
    • Participates in an RNC Reception [7:00 PM Local] at 10:00 p.m. EDT.
  • Federal Reserve Speakers of Note: None of note.

Capital Raises of Note/Pricings:

  • IPO Filings & News: None are coming public this week.
  • Secondaries Filed Or Priced:
    • STOK  files prospectus supplement; relates to sales agreement for up to $200 million of common stock.
  • Notes Filed Or Priced: None of note.
  • Convertible Offerings Filed or Priced: None of note.
  • Private Placement: None of note.
  • Direct Offering: None of note.
  • Exchangeable Subordinate Voting Shares: None of note.
  • Selling Shareholders:
    • BLZE files for 4,194,876 share common stock offering by selling stockholder.
  • Mixed Shelf Offerings
    • XYL files mixed securities shelf offering.

Notable Earnings Out After The Close:

  • Beats: PPLI +7.08, STRL +0.79, ANDE +0.67,  AEIS +0.53, BCC +0.40, FANG +0.40, INSP +0.38, CRSP +0.25, VNO +0.10, PLTR +0.07 of note.
  • Misses: JAZZ -0.47, WHR -0.15, ADTN -0.09, TKO -0.07, VNOM -0.03, TDW -0.03, VRTX -0.01 of note.
  • Flat: None of note.

Winners From After The Close: AMRC +19.5%, LIFE +15.6%, VOYG +15.2%, PPLI +14.4%, INSP +13%, SNAP +10.9%, AEIS +10.6%, PLTR +9.8%, PAY +8.4%, CTOS +8.1%, CRGY +5.9%, IBTA +5.8%, UCTT +5.4%, ON +4.5%, DORM +4.2%, JAZZ +3.3%, TKO +2.6%, CRSP +2.3%  of note.

Losers From After The Close: ADEA -17.2%, CLPT -15.9%, POWL -15%, ICHR -12.2%, WGS -10.8%, EVER -5.9%, TDW -3.5%, WHR -3.2%, STOK -2.8% of note.

News after the close:

  • Diamondback (FANG) raises FY26 oil, total production outlook; capex guide unchanged.
  • Palantir (PLTR) blew it out to the upside – prelim Q2 $0.41 vs $0.34 FactSet Consensus; revs $1.94 bln vs $1.81 bln FactSet Consensus.
  • Williams (WMB) to buy Momentum Midstream from EnCap Flatrock in deal worth up to $5.5 billion.
  • RTX awarded a $271.5 million Navy contract.
  •  AeroMexico (AERO)  load factor slips to 88.0%, passengers down 6.1%.   
  • 10Q Delays – None of note. 

Executive, Corporate Changes:

  • XRN appoints Matthew Whitlock chief investment officer.
  • BBY names Anne Bramman CFO effective Aug. 19.
  • DHR names Julie Sawyer Montgomery CEO, effective Oct. 1.

Buybacks of Note:

  • FANG increases share repurchase authorization to $16 billion.

Dividend Info:

  • VNOM has approved a 32% increase to its base dividend, or an amount equal to $2.00 per Class A share annually.

What Happening This Morning:

Futures S&P 500 +14, NASDAQ 100+235, Dow Jones +378. Europe is higher while Asia is mixed. Bond yield is at 4.692% from 4.68% on the 10-Year. Crude Oil and Brent Crude are mixed with Natural Gas lower. Gold, Silver and Copper are higher. The U.S. Dollar is lower versus the Euro, lower against the Pound and higher against the Yen. Bitcoin is at $63,702 from $62,508.

Sector Action:

  • Daily Technology, Industrials, Materials, Utilities and Energy were higher
  • Daily: Communication Services, Consumer Cyclical, Consumer Defensive and Financials were lower.
  • One-Month Winners: Technology, Communication Services, Consumer Defensive, Healthcare and Real Estate of note.
  • Three-Month Winners: Energy, Materials, Utilities, Consumer Defensive and Industrials of note.
  • Six-Month Winners: Energy, Materials, Utilities, Industrials, Healthcare and Consumer Defensive of note.
  • Twelve-Month Winners: Materials, Energy, Industrials, Utilities, Communication Services and Technology of note.
  • Year-to-Date Winners: Energy, Materials, Consumer Defensive, Utilities and Industrials of note.

Bolded means the Sector is new to the period in which it falls.

Upcoming Earnings Of Note: (Erlanger Chartroom Software – sorted by market cap, highest to lowest with most visible names)

  • Tuesday After the Close:

  • Wednesday Before The Open:

Notable Earnings of Note This Morning: (NOT UPDATED)

  • Beat: Top 10 beats by $: MPC: Beat by +$4.79 ($17.73 actual vs. $12.94 est) ZBRA: Beat by +$1.99 ($6.35 actual vs. $4.36 est) CAT: Beat by +$1.98 ($8.17 actual vs. $6.19 est) IT: Beat by +$0.61 ($4.37 actual vs. $3.76 est) TDG: Beat by +$0.55 ($10.87 actual vs. $10.32 est) ADM: Beat by +$0.47 ($1.84 actual vs. $1.37 est) PFE: Beat by +$0.09 ($0.77 actual vs. $0.68 est) PLTR: Beat by +$0.08 ($0.41 actual vs. $0.33 est) ETN: Beat by +$0.07 ($3.15 actual vs. $3.08 est) ON: Beat by +$0.03 ($0.74 actual vs. $0.71 est).
  • Missed: Top 10 missis by $: PFSI: Missed by -$1.01 ($1.39 actual vs. $2.40 est) CASH: Missed by -$0.64 ($1.38 actual vs. $2.02 est) DD: Missed by -$0.25 ($1.37 GAAP actual vs. $1.62 est) NRG: Missed by -$0.25 LDOS: Missed by -$0.11 ($2.81 actual vs. $2.92 est) FOUR: Missed by -$0.02 ($0.97 actual vs. $0.99 est) CAG: Missed by -$0.01 ($0.39 actual vs. $0.40 est) ILPT: Missed by -$0.01 (-$0.22 actual vs. -$0.21 est) TSCO: Missed by -9% (EPS shortfall vs. consensus) MCD: Revenue missed by -$100.3M ($7.10B actual vs. $7.20B est)
  • Flat: None of note.
  • Still to Report: None of note.

Company Earnings Guidance:

  • Positive Guidance: After The Close & This Morning – NVT PRLB BTSG of note.
  • Mixed – None of none.
  • Negative or Mixed Guidance: After The Close & This Morning – SONY NWL CHD of note.

Advance/Decline Daily Update: Market Breadth is improved.

Gap Ups & Down In Early Pre-Market: (Top 10 up and down):

  • Gap Up: PLTR: +16.19% GART: +10.45% GLW: +8.43% ON: +7.03% MPC: +5.86% EXR: +5.05% EQR: +4.75% ADM: +4.66% HPE: +4.64% ZBRA: +4.58% of note
  • Gap Down: URI: -5.70% MRSH: -5.48% PLD: -3.69% WAT: -3.66% PNW: -2.74% NKE: -2.70% LVS: -2.45% AMTM: -2.29% AMZN: -2.15% NOW: -2.01% of note.

Insider Action: None sees Insider Buying with dumb short selling. None see Insider Buying with smart short sellers. Above $100,000 in purchases with high shorts but no history: None of note.

Other Trading Action: None of note.

Rags & Mags: Repeated stories from prior days never listed, i.e. “rehashed news”. Sorted by Global, U.S. and stock specific. Bolded source means paywall.

  • AI Boom Is Transforming the American Economy Beyond Recognition. (WSJ)
  • Bessent’s Yen Rescue to Boost US Pressure on Japan Trade, Rates. (Bloomberg)

Economic & Geopolitical:

  • Federal Reserve Speakers of note today:  None of note.
  • President Trump’s schedule for today:
    • Participates in Executive Time at 8:00 a.m. EDT.
    • Greets the Penn State Nittany Lions, 2026 NCAA Wrestling National Champions at 10:00 a.m. EDT
    • Participates in a Policy Meeting at 12:00 p.m. EDT.
    • Participates in a Swearing-In Ceremony for the Director of National Intelligence at 1:00 p.m. EDT.
    • Travels to Los Angeles in the afternoon.
    • Participates in an RNC Roundtable [6:30 PM Local] at 9:30 p.m. EDT.
    • Participates in an RNC Reception [7:00 PM Local] at 10:00 p.m. EDT.
  • Economic Data Out –
    • Weekly
      • API Petroleum Institute Data is out this afternoon at 4:30 p.m. EDT.
    • Monthly
      • Factory Orders is out at 10:00 a.m. EDT and is expected to improve to 0.2% from -1.30%.

M&A Activity & Daily: None of note.

Moving Average Table: 97% from 67% of Equities are Positive, and 0% from 23% Bonds are Positive.

Meeting & Conferences of Note:

  • Sellside Conferences: None of note.
  • Top Analyst, Investor: None of note.
  • Shareholder Meetings: None of note.
  • Fireside Chat: None of note.
  • FDA Presentation: None of note.
  • R&D Day: None of note.
  • Meetings: None of note.

Upgrades & Downgrades:

The recommendations listed below in this “Upgrade/Downgrade” section are compiled from what we believe are Tier I, II and III firms. Recommendations posted are taken from a variety of sources each day and we only post upgrades or significant initiations as well as downgrades to underweight or sell. The purpose of this posting is to make the reader aware of market-moving recommendations. 

Upgrades: PLTR FMX TBBB of note.

Downgrades: NKE TU PVH DUOL  of note.

Initiations:  Buys: SKHY (3) RBRK AIP VSH SMC of note.  Sells: None of note.