Wall Street felt the gravity of profit-taking, and our space tech is defying it
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Morning brief: Tech profit-taking cooled things down, but our Shopify AI bet paid off handsomely, and gold suddenly felt like a king
Published
Dow Hits Record as Tech Slips and Gold Soars
Stocks traded mixed as tech profit-taking offset a record Dow, while surging gold and U.S.-Iran peace talk optimism set the macro tone.
Shopify Soars 17% on Monster Earnings Beat
Shopify jumped 16.98% after beating Q2 expectations and issuing strong Q3 sales guidance, boosted by tripling AI-driven merchant orders.
Astera Labs Plunges 12% in Profit-Taking
Astera Labs tumbled 11.96% in a classic sell-the-news pullback, despite posting record Q2 revenue and issuing stellar Q3 guidance.
Agnico Eagle Spikes 10% as Gold Rallies
Agnico Eagle Mines surged 9.85% as spot gold soared over 4% to multi-week highs on dollar weakness and geopolitical de-escalation.
Jobs Report and Energy Earnings in Focus
Traders await Friday's U.S. employment report while monitoring morning earnings from Constellation Energy and Celsius before today's bell.
Posture: With Fear & Greed at 60 (Greed) and Dow at records, we adopt a cautious growth posture, balancing tech rotation with gold and defense assets.
Tickers in focus: SHOP, ALAB, AEM
Upcoming earnings
Evening brief: Wall Street felt the gravity of profit-taking, and our space tech is defying it
Published
Wall Street Slides as Tech Rally Cools
Major indexes pulled back as tech profit-taking, rising oil prices, and mixed earnings snapped recent record momentum ahead of key jobs data.
AppLovin Plunges 19.66% on Earnings Miss
Shares cratered after Q2 revenue and forward guidance missed Wall Street estimates due to slower AI model progress in core gaming.
Celsius Drops 18.46% After Revenue Whiff
The beverage maker tumbled as flagship brand sales fell 11.7% and second-quarter revenue and margins missed analyst forecasts.
Redwire Surges 10.35% on Q2 Beat
Shares jumped after posting record second-quarter revenue of $117.1M, expanding gross margins, and reaffirming full-year guidance.
Watch Jobs Report and VST Earnings Next
Friday's U.S. payrolls report and pre-market earnings from Oklo and Vistra will test market sentiment and rate expectations.
Posture: Greed sentiment remains elevated at 60 despite tech profit-taking, warranting a balanced, high-quality defensive and mega-cap posture.
Tickers in focus: RDW, QQQ
Upcoming earnings
The day's lineup changes
No lineup changes this day.
← Wednesday, August 5, 2026 · Friday, August 7, 2026 → · August 2026 archive · Archive