Market Report, 2026-08-05

Stocks took a breather on Wednesday after two massive rallies at the beginning of the week. With earnings demonstrating solid results and no significant negative geopolitical news, the market simply needed time to digest all the information and consolidate.

The Dow Jones Industrial Average maintained its momentum and extended the rally, gaining 263 points to close at 54,349. The Nasdaq declined 0.83% to 26,363, while the S&P 500 gave up 0.17% to close at 7,724. Healthcare and materials were the clear sector winners of the day, while energy, communication services, and utilities were the clear losers.

The bond market held steady, with both the 5-year and 10-year U.S. Treasury yields sliding by 1 basis point to 4.33% and 4.61%, respectively. Gold emerged as the day’s biggest asset-class winner, rallying nearly 4% and topping the 4,300 mark.

Economic data showed weaker-than-expected private payroll growth but also revealed a 7% increase in pay for workers who changed jobs, nearly a one-year high. The services-sector report also showed a slightly slower growth rate than expected.

Let’s take a closer look at SpaceX’s earnings, one of the most anticipated topics in the market. Last night, the company reported results that significantly exceeded analysts’ estimates, with a loss of only 9 cents per share, driven by a substantial revenue beat. Nevertheless, its planned capital expenditures ballooned to $18.4 billion. Combined with the impending expiration of the insider lockup period over the next year, this caused anxiety in the market and led to a sharp decline in the stock price.

Adams Wealth Advisor is honored to provide you with these updates and thanks you for listening.