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Week In Perspective | Stocks Rally After Fed Hold [03-August-26] Thumbnail

Week In Perspective | Stocks Rally After Fed Hold [03-August-26]

Market Insights

Updated: 08-03-2026

The Week on Wall Street

Stocks finished higher after a volatile summer week as investors digested mixed second-quarter earnings and the Federal Reserve's decision to leave interest rates unchanged.

 The Standard & Poor's 500 Index rose 1.05%, while the Nasdaq Composite Index advanced 1.59%. The Dow Jones Industrial Average gained 1.04%. The MSCI EAFE Index, which tracks developed international markets, increased 2.13%.1,2

Tech Stocks Steal Spotlight

Semiconductor stocks came under pressure early in the week as investors weighed rising competition from China and higher-than-expected AI capital expenditures. Meanwhile, falling oil prices helped lift the Dow as investors rotated out of technology.3,4

On Wednesday, the Federal Reserve left interest rates unchanged. Markets initially welcomed the decision, but enthusiasm faded as investors questioned whether policymakers were doing enough to contain inflation.5

Stocks rebounded Thursday, led by semiconductor and mega-cap technology shares. The Nasdaq climbed nearly 3%, snapping its six-session losing streak.6,7

Friday's gains extended Thursday's rally. Despite mixed earnings from two influential technology companies, buyers remained in control, helping all three major indexes finish the week higher.8

Fed Watch

The Federal Open Market Committee voted 9-3 to leave interest rates unchanged, with three members dissenting in favor of another rate increase. Investors initially welcomed the decision, but sentiment weakened later in the day as traders questioned whether the Fed was adequately addressing inflation.

During his press conference, Chair Kevin Warsh defended the committee's decision, though some investors remained concerned the Fed may be underestimating inflationary pressures. Attention now turns to the Fed's next scheduled meeting, which concludes on September 16, with several key inflation and labor-market reports due before policymakers meet again.9

This Week: Key Economic Data

Monday: Purchasing Managers Index (PMI)—Manufacturing. Construction Spending.

Tuesday: Trade. Job Openings & Labor Turnover. Factory Orders.

Wednesday: ADP Employment Report. PMI–Services.

Thursday: Productivity & Costs. Weekly Jobless Claims. Wholesale Trade.

Friday: U.S. Employment Report. Consumer Credit.

Source: Investor’s Business Daily - Econoday economic calendar: July 31, 2026.

The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to provide accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts are also subject to revision.

This Week: Companies Reporting Earnings

Monday: Palantir Technologies Inc. (PLTR), Vertex Pharmaceuticals Incorporated (VRTX), Marriott International, Inc. (MAR), The Williams Companies, Inc. (WMB)

Tuesday: Space Exploration Technologies Corp. (SPCX), Advanced Micro Devices, Inc. (AMD), Caterpillar Inc. (CAT), Merck & Co., Inc. (MRK), Arista Networks, Inc. (ANET), Amgen Inc. (AMGN), The McDonald’s Corporation (MCD), Gilead Sciences, Inc. (GILD), Pfizer Inc. (PFE), Booking Holdings Inc. (BKNG), Duke Energy Corporation (DUK), Spotify Technology (SPOT)

Wednesday: Eli Lilly and Company (LLY), Sandisk Corporation (SNDK), Western Digital Corporation (WDC), The Walt Disney Company (DIS), Shopify Inc. (SHOP), CVS Health Corporation (CVS), Uber Technologies, Inc. (UBER), AppLovin Corporation (APP), McKesson Corporation (MCK)

Thursday: ConocoPhillips (COP), Parker-Hannifin Corporation (PH), Howmet Aerospace Inc. (HWM), Constellation Energy Corporation (CEG)

Friday: Berkshire Hathaway Inc. (BRK.A / BRK.B)

Source: Zacks, July 31, 2026. Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your goals, time horizon, and risk tolerance. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule their earnings reports without notice.

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  1. https://www.wsj.com/market-data
  2. https://www.investing.com/indices/msci-eafe
  3. https://www.cnbc.com/2026/07/26/stock-market-today-live-updates.html
  4. https://www.cnbc.com/2026/07/27/stock-market-today-live-updates.html
  5. https://www.wsj.com/livecoverage/fed-meeting-warsh-interest-rate-07-29-2026?mod=hp_lead_pos2
  6. https://www.cnbc.com/2026/07/29/stock-market-today-live-updates.html
  7. https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-07-30-2026?mod=hp_lead_pos3
  8. https://www.cnbc.com/2026/07/30/stock-market-today-live-updates.html
  9. https://www.wsj.com/economy/central-banking/fed-holds-rates-steady-but-three-officials-voted-for-increase-3a6903e0?mod=WSJ_home_mediumtopper_pos_1






This content is developed from sources believed to be providing accurate information, and provided by Twenty Over Ten. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.