S&P 500 Surges as Earnings Roll In—Bitcoin Defies Gravity at $114k
Wall Street kicks off August with a bullish sprint as corporate earnings take center stage. Meanwhile, Bitcoin scoffs at volatility, locking in at $114k like it’s just another Tuesday.
Stocks Flex Muscle
The S&P 500 opens higher, fueled by a cocktail of strong earnings reports and institutional FOMO. Traders barely blink at Fed whispers—too busy counting their paper gains.
Crypto’s Casual Dominance
Bitcoin scoffs at ‘overbought’ warnings, treating six figures like a support level. No flashy moves, just silent accumulation while traditional finance debates ‘store of value’ over martinis.
As always, the market giveth—right until the algos decide to taketh away. Happy hunting, bulls.
Airbnb, other earnings in focus
Across the stock market, sentiment remains upbeat as earnings season drives key gains for mega-cap companies. With tech stocks taking the lead in recent weeks, Wall Street cheered the latest earnings beat from Disney (DIS).
The company’s third-quarter results drew attention after it beat estimates, driven by strong performances in its parks and streaming segments. ESPN, Disney’s sports and entertainment arm, has inked a five-year $325 million per year deal with WWE to bring premium events such as WrestleMania, the Royal Rumble, and SummerSlam to its network.
Investors have also taken time to digest the earnings of Advanced Micro Devices, McDonald’s, and Uber. AMD shares fell 5% after its earnings per share missed estimates, while Uber stock ROSE as the company revealed a $20 billion stock buyback plan amid its revenue beat. On the downside, Snap sank 20% after a revenue miss.
Earnings season continues today with top names set to report, including Airbnb (ABNB), DoorDash (DASH), and Lyft (LYFT).
Tariffs deadline looms
Investors remain focused on trade developments ahead of the August 7 deadline for President Donald Trump’s new tariff to go into effect. One country scrambling to make a deal is Switzerland, whose president is in Washington as the country tries to avoid a 39% tariff.
Also making headlines is news that U.S. President TRUMP is set to announce a domestic $100 billion investment by Apple. The company is pursuing the deal in an effort to avoid further tariff-related penalties.
