Y'all Street Daily
CoreWeave's blowout quarter and Super Micro's upbeat guidance carried tech higher, while crude fell on hopes for a thaw between the US and Iran.
Market Snapshot
The Nasdaq led again as a wave of AI earnings did the heavy lifting, with the S&P 500 sitting just under its record and the Dow flat.
Cooler July CPI is already in the rearview, so the tape is trading on results rather than macro fear, and the VIX near 15 says nobody is reaching for hedges.
Oil slid more than a percent and silver gave back ground, while gold held a small gain.
CoreWeave jumped roughly 19% after crushing Q2 estimates and lifting guidance, Super Micro rode strong fiscal 2027 sales forecasts, and Cisco beat but slipped after hours as high expectations outran a record quarter.
Main Story
The AI trade has shifted from hope to hard numbers, and this week's prints are backing it up.
CoreWeave reported around $2.58 billion in revenue and a roughly $104 billion backlog, up 246% year over year, while Super Micro guided fiscal 2027 sales to as much as $72 billion.
The mainstream read is that real demand from names like Anthropic and Meta is validating the capex boom rather than inflating another bubble.
What to watch is the reaction, not the results: Cisco posted record revenue and $4 billion in AI orders yet fell after hours, a sign the bar is now high enough that a beat alone will not carry a stock.
Chart of the Day
The Nasdaq is back around 26,588, roughly 9% above its July 29 low near 24,760 and knocking on its August 7 record close.
The climb has been almost a straight line, powered by the same AI names now reporting.
A clean push through the 26,690 record would confirm the breakout, while a stall there would mark obvious resistance.
Technical Trading
A few levels worth marking before the open.
The S&P 500 faces resistance around 7,780 at its recent high, with the 50-day near 7,480 as first support.
The S&P's 14-day RSI sits around 64, firm but not yet overbought above 70.
Gold needs a close above 4,429 to extend its uptrend, with 4,316 the support that keeps the rally intact.
Global News
July PPI lands at 8:30 ET, the next test of whether cooler consumer inflation is holding at the wholesale level.
Oil fell more than 1% as reports of progress toward reopening the Strait of Hormuz eased supply fears.
Spot gold held near record territory as a softer dollar and steady central-bank buying offset the risk-on mood in equities.
Asia-Pacific markets closed mixed, with Korea's Kospi up around 0.7% and mainland China's CSI 300 down around 0.8%.
Texas News
The Texas Stock Exchange went fully live this month with all listed tickers trading, the first new major US exchange in decades and backed by BlackRock, Goldman Sachs and Charles Schwab.
The venue plans to open corporate listings later this year and begin hosting IPOs in 2027, a direct challenge to New York's grip on where companies go public.
Looking Ahead
Friday, August 14: July retail sales and the preliminary Michigan sentiment survey cap the week with a read on the consumer.
Wednesday, August 19: Target and Lowe's headline a busy stretch of retailer earnings and a cleaner look at margins.
Thursday, August 20: Weekly jobless claims and July existing home sales give fresh reads on labor and housing.
The Y’all Street Podcast
Tarek sits down with Tom Opre, a filmmaker, conservationist and wildlife advocate behind documentaries like Killing the Shepherd, on the difference between conservation and preservation and why sustainable wildlife management stays so contested. He explains how modern conservation grew out of responsible resource management and uses storytelling to show audiences what that work looks like on the ground.
Prices from Yahoo Finance, CNBC and FXStreet. Technical levels from Investing.com and RoboForex. News from Reuters, CNBC, Benzinga and the Dallas Fed.
For informational purposes only. Not investment advice. Prices are indicative opening levels and may differ from your broker.