Market Open: Chipmaker Results Pressure Stocks, Productivity and Jobless Claims Rise 8-6-2026
Speakers
Michael Lansberg
— Chief Investment Officer, Lansburg Bennett Private Wealth Management
Peter Shaknau
— Anchor, CNBC
Summary
Stocks are mixed with the NASDAQ under pressure after SanDisk and Western Digital delivered disappointing AI-related forecasts. Jobless claims and productivity data beat expectations. Michael Lansberg believes the stock rally has more room to run as it broadens beyond mega-cap tech.
- NASDAQ under pressure as SanDisk and Western Digital guidance disappoints on AI growth expectations.
- Both chipmakers beat earnings estimates but their forecasts failed to impress AI-focused investors.
- Michael Lansberg argues the stock rally has legs because it is broadening from the Magnificent Seven.
- He cites small caps and international stocks outperforming as evidence of healthier market participation.
- Jobless claims rose less than expected; non-farm productivity grew at a faster-than-expected 1.4% rate.
- Peloton shares drop 9% after reporting an 8.8% decline in active paying subscribers.
Ideas
Broadening rally has more upside.
The stock market rally has more room to run because it is broadening beyond the Magnificent Seven, with small caps and international stocks now outperforming, reducing concentration risk and making the advance more sustainable.
Up Next
This CNBC video, published August 06, 2026, features Michael Lansberg discussing SPY. 1 trade idea extracted by AI with direction and confidence scoring.
Speakers: Michael Lansberg · Tickers: SPY