US Stock Market Key News Summary August 5, 2026

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Earnings Reports: Eli Lilly, Disney, Uber

Earnings Reports: SanDisk, Western Digital

<Earnings> SpaceX's First-Ever Report Beats Expectations, But AI Spending Surge Drags Shares Down 7% After Hours

SpaceX (SPCX-US) released its first financial report since its record-breaking IPO in June 2026 after US market close on Tuesday (4th). Second-quarter revenue exceeded market expectations, but the stock declined post-market due to a sharp rise in capital expenditures. In a statement released Tuesday, SpaceX reported second-quarter revenue increased 92% year-on-year, rising from $4.1 billion a year earlier to $7.81 billion. Net losses narrowed from $1 billion to $541 million year-on-year.

<Earnings> AMD Q2 Revenue Soars 50%, Profits Up 163%, Data Center Doubles—Yet Stock Drops Nearly 10% After Hours

AMD (AMD-US) announced its fiscal Q2 2026 earnings on Tuesday (4th), with both revenue and profits surpassing market expectations, driven by strong ongoing demand for AI chips. Data center segment revenue more than doubled year-on-year, becoming the company's primary growth engine. However, despite the strong results, AMD's stock fell nearly 10% after hours, as market expectations for future guidance were even higher and some analysts had issued more optimistic forecasts.

Musk Backs NVIDIA! SpaceX to Use Only NVIDIA Chips in AI Data Centers, Boosting NVIDIA's After-Hours Gains

Elon Musk, CEO of SpaceX (SPCX-US), stated during the opening remarks of the earnings call on Tuesday (4th) that the company will fully adopt NVIDIA (NVDA-US) chips for its future AI data center deployments. He projected that by the end of 2026, the company's AI computing capacity will exceed 2GW, with further expansion expected to reach nearly 10GW by the end of 2027.

Palantir Surges Nearly 30%! US Commercial Business Explodes—Earnings 'Beyond Imagination'

Palantir (PLTR-US) surged nearly 30% on Tuesday (4th). The company reported its Q2 2026 earnings, with both revenue and profits exceeding market expectations. It also raised its full-year guidance, driving strong upward momentum in its stock price. Palantir now forecasts full-year 2026 revenue of $8.16 billion, up from the previous estimate of $7.65–7.66 billion. CEO Alex Karp stated, 'This quarter's performance was beyond imagination. Our US commercial business revenue grew 149% year-on-year, and total revenue increased 93%.'

Trump Plans Minimum Price and Tariffs on Polysilicon! Solar Panels and Chips May Get More Expensive

The Trump administration is preparing to set minimum prices and impose additional tariffs on imported polysilicon and related products. This key material for solar panels and semiconductors will be incorporated into the US strategy to counter China's artificial intelligence (AI) and energy industries. The decision is expected to be announced later this month. According to sources cited by Reuters, the Trump administration is considering a hybrid system combining minimum import prices and tariffs to protect polysilicon plants in the US operated by Hemlock Semiconductor and Germany's Wacker Chemie, while curbing China's expanding influence in the chip supply chain.