Market Close: Market's Best Week Since April, Airbnb Rallies, Burger King Leapfrogs Wendy's 8-7-2026

Summary

Wall Street posts its best week since April, led by a Friday rally after a weaker-than-expected July jobs report eases Fed rate-hike fears. Portfolio manager John Belton argues investors should focus on robust Q2 earnings, especially in the S&P 500 and tech, rather than rate uncertainty. Airbnb soars on strong results, Burger King overtakes Wendy's for the number two burger chain spot, and a JD Power survey reveals consumers shifting from premium to mainstream vehicles.

• S&P 500 and Nasdaq rally to close the best week since April.
• July jobs loss of 23,000 reduces fears of a September Fed hike.
• John Belton says earnings season is exceptional, S&P 500 earnings up high 20s.
• Belton advises focusing on corporate profits rather than interest rates.
• Airbnb surges 17%+ on upbeat earnings and raised revenue guidance.
• Burger King reclaims second-largest burger chain spot as Wendy's slumps.
• JD Power survey shows premium vehicle market share falling to lowest since 2020.
• Consumers moving from luxury brands like BMW to mainstream Toyota and Ford.