Market Close: Dow Closes At Record High, Palantir Posts Strong Quarter • 8/3/26

CNBC's Jessica Ettinger recaps a record close for the Dow, big tech gains, and after-hours earnings reactions. Kepler analyst Matt Smith forecasts higher oil prices due to Strait of Hormuz closures and inventory draws. Kevin Hassett discusses falling shelter costs and good inflation numbers, while mortgage rates rise and cyber threats on water systems are detailed. - Dow hits record high, led by Boeing; S&P 500 and Nasdaq also rally strongly. - Oil analyst Matt Smith calls for higher crude prices as Strait of Hormuz stays closed, inventories fall, and China eventually returns. - White House NEC Director Hassett says inflation numbers are fantastic, with declining shelter costs in California. - Mortgage rates climb sharply, potentially headed back above 7%, per Kelly Evans. - Iran-linked cyberattacks on US water systems steal project files for disruption, says Adam Isles. - After-hours earnings pops: Palantir +7%, Snap +9%, ON Semiconductor +2%. - Tuesday's earnings watch includes Caterpillar, McDonald's, Merck, Pfizer, Amgen, and AMD.