Markets Midday: Record Highs For Dow and S&P 500, AMD Slumps Amid AI Worries, Shopify Soars 8-5-2026
Speakers
Sylvia Jablonski
— Chief Investment Officer, Defiance ETFs
Peter Schacknow
— Host, CNBC
Summary
The Dow and S&P 500 extend their record highs amid a strong earnings season, while the Nasdaq is mixed. Guest Sylvia Jablonski highlights AI hyperscalers as the biggest winners, while AMD slumps on AI spending concerns and Shopify surges on earnings.
- Dow and S&P 500 hit fifth straight record high; Nasdaq flat after recent gains.
- Robust earnings season with 86% of companies beating EPS and 47% YoY growth.
- Sylvia Jablonski says AI hyperscalers like Oracle, Microsoft, Amazon, and Google are winning by monetizing heavy AI investment.
- AMD drops over 6% as earnings fail to convince investors that AI spending is accelerating its revenue growth.
- Shopify leads Nasdaq 100 with nearly 18% gain on better-than-expected profit and revenue.
- S&P and Nasdaq on pace for largest weekly gains in nearly four months.
Ideas
AI hyperscalers win by monetizing AI spend.
AI hyperscalers are the real winners of the current earnings season. Companies like Oracle, Microsoft, Amazon, and Google are spending heavily on AI and are successfully monetizing it, which is driving strong earnings. With 86% of companies beating EPS and a 47% year-over-year growth rate marking seven consecutive quarters of double-digit growth, these hyperscalers are delivering superior performance compared to the broader AI or chip sectors.
