SpaceX to Report Earnings as S&P 500 Hits New High | Bloomberg Businessweek Daily 8/4/2026

Summary

Bloomberg Businessweek Daily covers SpaceX's first public earnings report, a broad market rally pushing the S&P 500 and Dow to records, Wayfair's 30% surge after strong results and guidance, and an in-depth look at AQR's tax-loss harvesting strategies for the wealthy. Eric Freedman of Northern Trust advocates rotating from cash into municipal bonds and favors infrastructure over real estate, while Wayfair CFO Kate Gulliver outlines self-help initiatives driving market share gains.

• S&P 500 and Dow hit all-time intraday highs on broad rally; oil drops on Strait of Hormuz deal hopes.
• SpaceX prepares for first public earnings; Lauren Grush highlights Starship milestones and lock-up uncertainties.
• Eric Freedman stacks AI opportunity as compute first, memory second, but prefers clear monetization plays.
• Northern Trust CIO recommends moving cash into municipal bonds for tax-efficient yield pickup.
• Freedman also reveals underweight real estate and overweight infrastructure over commercial property concerns.
• Wayfair shares jump over 30% after 9% US revenue growth and strong guidance; CFO credits rewards, stores, and luxury brand.
• Bloomberg's Sridhar Natarajan explains AQR's tax-loss harvesting on steroids that can triple wealth while generating huge capital losses.
• Jefferies faces scrutiny as invoices for iron ore trader Sapphire Mine Metals are questioned; risk around receivables finance resurface.