Dow, S&P 500 hit records as AI earnings boost Caterpillar, Palantir
The Reuters segment reported that the Dow and S&P 500 closed at record highs on August 4, 2026, rising about 1.7-1.8% on strong AI-related earnings and optimism for a diplomatic resolution in the Middle East. It highlighted SpaceX's first post-IPO earnings showing over 90% revenue growth from Starlink and AI but a $540 million net loss and heavy capex, followed by after-hours trading reactions. AMD, Palantir (raising its annual forecast with "otherworldly" results), and Caterpillar (raising guidance on AI data-center demand) were covered with their stock reactions. Crude oil settled down about 5% after comments from a Qatari official and U.S. Treasury Secretary Scott Bessent on potential Iran deal and reopening the Strait of Hormuz. Sourcing relied on company earnings releases, market data, and named officials plus analyst Rob Hworth (US Bank) in an interview discussing IPO lockups and the importance of upcoming listings like OpenAI and Anthropic. Graphics showed index and individual stock moves; the throughline was AI spending justification amid geopolitical relief.
Source: Reuters