Markets Return After a Rollercoaster Week 03/08/2026
Market Wrap
US stocks finished higher on Friday as investors looked past rising Treasury yields and focused on another strong round of corporate earnings, led by Amazon.
The Nasdaq Composite gained 1.0% to 25,373.85, while the S&P 500 advanced 0.7% to 7,489.72. The Dow Jones Industrial Average rose 277 points, or 0.5%, to 52,485.03.
Amazon (AMZN) surged 15% after reporting stronger-than-expected quarterly results, helping offset a more than 7% decline in Apple (AAPL) following weaker guidance. Despite the rebound, July ended with mixed performance, as the Dow gained 0.3% for a fourth consecutive monthly advance, while the S&P 500 slipped 0.1% and the Nasdaq lost 3.2%.
Treasury yields remained elevated, with the 30-year yield reaching its highest level since 2007 as investors continued to question the Federal Reserve’s commitment to containing inflation following last week’s meeting.
US equity futures moved higher early Monday as oil prices fell sharply after President Donald Trump said he had canceled a planned strike on Iran, easing concerns over potential supply disruptions. West Texas Intermediate crude dropped nearly 6% to $79.66 a barrel, while Brent crude fell more than 5% to $83.39.
Attention now shifts to a busy week of economic data, highlighted by Friday’s US employment report. Earnings season also continues, with results due from McDonald’s (MCD), Kraft Heinz (KHC), Costco Wholesale (COST), Walt Disney (DIS), Palantir (PLTR) and Advanced Micro Devices (AMD).
Wall Street Split on Market Outlook
Wall Street remains cautious after the market’s weakest stretch in several months, with strategists warning that volatility may not be over despite Friday’s rebound.
The Nasdaq fell 3.2% in July, its worst monthly performance since March, as investors questioned whether the enormous sums being spent on AI infrastructure will generate sufficient returns. The S&P 500 was nearly flat for the month, while the Dow managed a modest gain, highlighting the sharp rotation beneath the surface.
Analysts point to three main risks: persistent inflation, higher interest rates and escalating geopolitical tensions. While recent inflation data has shown signs of cooling, renewed oil-price volatility and rising costs for memory chips, data centers and power infrastructure could keep price pressures elevated and reduce the Federal Reserve’s flexibility.
Technology and semiconductor stocks remain particularly vulnerable because their high valuations depend heavily on future earnings. Higher bond yields make those distant profits less valuable, while growing concerns over AI capital spending have increased pressure on the sector.
Still, the recent weakness has not been broad-based. Several strategists see the market as rotating away from high-flying technology names and into other sectors rather than entering a full-scale bear market. Even so, uncertainty surrounding inflation, Fed policy and the Middle East conflict is likely to keep trading conditions volatile in the weeks ahead.
Stocks on the Move
- ExxonMobil (XOM): Shares fell 2% after the energy giant reported weaker-than-expected second-quarter earnings. Adjusted profit came in at $3.52 per share, below the $3.60 consensus estimate.
- Moderna (MRNA): Shares slipped 1% despite posting better-than-expected quarterly results. The company reported a narrower loss and stronger revenue than analysts had forecast, while full-year revenue guidance also topped expectations.
- Coinbase (COIN): Shares sank more than 12% after the crypto exchange posted a third consecutive quarterly loss. The company lost $1.36 per share on revenue of $1.22 billion, both well below Wall Street expectations.
- Reddit (RDDT): Shares tumbled 22% as concerns over inconsistent Google search-referral traffic overshadowed stronger-than-expected earnings, revenue and guidance.
- Novo Nordisk (NVO): Shares dropped 9% after a Phase 3 trial of ziltivekimab failed to show a reduction in major cardiovascular events compared with placebo.
Watchlist: AAPL, AMZN, META, XOM, TSN, PLTR, MU, MRVL, JPM
Key Economic Events Today
Economic Data (EST)
- 09:45 AM — USD Final Manufacturing PMI
- 10:00 AM — USD ISM Manufacturing PMI
- 10:00 AM — USD ISM Manufacturing Prices
Earnings
Before Market Open: Marriott Intern. (MAR), Loews Corp. (L), Tyson Foods (TSN)
After Market Close: Palantir (PLTR), Vertrx Pharma (VRTX), Diamondback Energy (FANG), ON Semic (ON)
