Stocks & Bonds Rose as US-Iran Hopes Spur Oil Drop | The Close 8/3/2026

Watch on YouTube ↗  |  August 03, 2026 at 22:33  |  1:30:10  |  Bloomberg Markets
Speakers
Mona Mahajan — Head of Investment Strategy, Edward Jones
Randy Schwimmer — Vice Chairman & Chief Investment Strategist, Churchill Asset Management
Ken Gawrelski — Analyst, Wells Fargo
Lindsey Bell — Chief Strategist, 24/7 Wall St.
Dan Dolev — Managing Director, Mizuho Securities
Mandy Xu — Head of Derivatives Market Intelligence, Cboe Global Markets
Jared Holz — Healthcare Equity Strategist, Mizuho
Chris Maurice — CEO, Yellow Card
Sara Senatore — Senior Restaurants Analyst, BofA Securities

Summary

The episode covers a broad market rally fueled by falling oil prices and a tech earnings rebound. Guests discuss the next phase of the AI trade, private credit opportunities, challenges for eBay, and the state of stablecoins. Upcoming earnings and Fed policy remain key focus points.

  • Stocks rallied with S&P 500 up 1.5% and Nasdaq up 2.1% as oil dropped and yields declined.
  • Mona Mahajan argues for a rotation from AI infrastructure to AI adoption beneficiaries in financials, healthcare, and industrials.
  • Randy Schwimmer calls this a 'platinum era' for private credit, highlighting 9-10% senior credit yields.
  • Wells Fargo downgraded eBay to underweight, citing rising competition from Vinted's DPOP in used fashion.
  • Lindsey Bell stays bullish on semiconductors and Mag 7 hyperscalers, and sees value in forgotten tech like Snap.
  • Palantir and ON Semiconductor reported earnings beats; SpaceX's first public earnings and Fed policy loom.
  • Dan Dolev is bearish on Circle but bullish on Robinhood as a global next-gen brokerage.
  • Yellow Card's CEO sees stablecoins dominating cross-border payments over the next decade.
Ideas
Mona Mahajan Head of Investment Strategy, Edward Jones 5:37
Buy AI adoption beneficiary sectors
The next leg of the AI trade will shift from infrastructure to AI adoption, bringing productivity gains to sectors like financial services, healthcare, and industrials. Portfolios should start adding exposure to these areas.
XLF XLV XLI HIGH
Randy Schwimmer Vice Chairman & Chief Investment Strategist, Churchill Asset Management 25:58
Private credit yields are attractive
Private credit is in a platinum era with senior credit unlevered yields around 9% today, likely reaching 9.5–10% by year-end. The asset class provides stable income, higher yields than public credit, and owns resilient old-economy service businesses that are insulated from tariffs and macro disruptions.
BIZD HIGH
Ken Gawrelski Analyst, Wells Fargo 31:21
Avoid eBay on rising competition
eBay faces rising competitive intensity from European competitor Vinted’s DPOP, which is aggressively spending to defend and extend its U.S. consumer-to-consumer fashion market. This will pressure eBay’s returns, requiring heavy marketing spend and likely causing short-term pain. Downgraded to underweight.
EBAY HIGH
Lindsey Bell Chief Strategist, 24/7 Wall St. 58:14
Bullish on semiconductors, more upside
Semiconductor earnings growth peaked at 130% in Q2 but will stay above 100% for the next two quarters. The correction was a healthy breather, and the story is not over; there is definitely more room to run in those stocks.
SOXX HIGH
Lindsey Bell Chief Strategist, 24/7 Wall St. 59:48
Buy hyperscalers and Mag 7
Hyperscalers and Mag 7 are finally turning AI from an experimental phase into real revenue and larger growth. Impressive numbers (Azure $100B revenue, AWS margins 37%, Google Cloud up 82%) show capex spending is justified. Diversified mega-cap tech offers quality and protection.
MAGS HIGH
Lindsey Bell Chief Strategist, 24/7 Wall St. 62:47
Snap is undervalued and deserves rotation
Forgotten high-quality tech companies that were left behind in the AI chase—like SNAP—are showing substantial top- and bottom-line growth. A rotation into these undervalued names with cash flow and future demand is underway.
SNAP MED
Dan Dolev Managing Director, Mizuho Securities 69:21
Avoid Circle, fundamentals deteriorating
Circle's earnings depend heavily on rates rising (P × Q model), but its unit growth is declining. A consortium of 140+ banks aims to disrupt USDC, and Circle gives away yield instead of retaining it. Underperform rating justified.
CRCL HIGH
Dan Dolev Managing Director, Mizuho Securities 73:11
Robinhood is a 10x global play
Robinhood is the hyperscaler of next-generation brokerages, with a global opportunity and potential for 10x growth over the next 10 years. It is the singular favorite within fintech/payments.
HOOD MED
Up Next
45:40
Palantir Surges on After-Hours Earnings Beat...Dow Breaks 'All-Time High' [Wall Street Newsletter]
3PRO TV (삼프로TV) · Aug 03
1:00:23
Trump: Latest Talks 'Last Chance' for Iran | Bloomberg Businessweek Daily 8/3/2026
Bloomberg Markets · Aug 03
5:54
Quality Matters Again
Morgan Stanley · Aug 03
3:59
Market Close: Dow Closes At Record High, Palantir Posts Strong Quarter • 8/3/26
CNBC · Aug 03
5:54
Fundamentals In Korea Are Incredibly Strong: Taylor
Bloomberg Markets · Aug 03

This Bloomberg Markets video, published August 03, 2026, features Mona Mahajan, Randy Schwimmer, Ken Gawrelski, Lindsey Bell, Dan Dolev discussing XLF, XLV, XLI, BIZD, EBAY, SOXX, MAGS, SNAP, CRCL, HOOD. 8 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Mona Mahajan, Randy Schwimmer, Ken Gawrelski, Lindsey Bell, Dan Dolev  · Tickers: XLF, XLV, XLI, BIZD, EBAY, SOXX, MAGS, SNAP, CRCL, HOOD