Aug. 7 at 9:20 PM
Weekly market recap:
US stocks pushed to fresh record highs this week, marking the strongest weekly performance since April.
The biggest drivers were AI leaders
$MSFT and
$AMZN, which gained roughly +28% and +21% over the last seven sessions after reporting accelerating AI-powered cloud growth. Together, they added about
$1.3T in market cap.
The S&P 500 gained
$2.5T in value this week, while the Nasdaq 100 led major indexes with a +5.2% move.
Not every AI name followed.
$GOOGL pulled back as investor concerns around AI talent departures returned.
Meanwhile, weaker-than-expected July jobs data and major revisions increased expectations for a September Fed rate cut. Treasury yields moved lower, the dollar weakened, and precious metals rallied.
Weekly performance:
S&P 500 +3.6%
Nasdaq +5.2%
Russell 2000 +3.5%
Dow +3.0%
Gold +7.1%
Silver +10.1%
Bitcoin +3.4%
WTI Crude -8.9%
AI growth + potential rate cuts remain the market’s biggest themes.