The stock market rallied on Monday as oil prices fell sharply following reports that the U.S. would postpone further military action against Iran, easing concerns about inflation. The delay came as officials pursued a potential agreement to reopen the Strait of Hormuz, raising hopes of reduced geopolitical tensions and more stable global energy supplies.
Overall, S&P 50o rose 1.5% to 7,601, while Nasdaq jumped 2.1% to 25,914.
Tweet of the Day
Booking $BKNG Delivers 15% Profit Growth Despite Middle East Disruptions | https://t.co/yubD0oTdlQ
— SchoolofHardStocks (@SchoolHardStock) August 1, 2026
Chart of the Day
Here is the ten-year chart of Amazon (AMZN) as of May 13, 2026, when the stock was at $270.
AWS revenue growth accelerated to 28% year-over-year from 24% three months ago — marking its fastest growth rate in 15 quarters — while Amazon said AI revenue was already growing at triple-digit rates.
Management stated demand for AI infrastructure remained extremely strong, with Trainium AI chips largely sold out and even future Trainium generations already heavily reserved due to massive enterprise demand.
Amazon also revealed its AI backlog reached $364 billion, excluding a separate $100 billion Anthropic agreement, showing customers are committing enormous amounts of spending years in advance.
To support this demand, Amazon increased capital expenditures to $43.2 billion in Q1 and indicated elevated AI infrastructure spending will likely continue as AWS scales data centers, networking, and custom silicon capacity.
On August 3, 2026, AMZN stock broke out to a new All-Time high after the company reported earnings last week.
AMZN is part of the Growth Portfolio and Focus List. It will also be added to the Conservative Growth Portfolio.
