Daily Market Briefing

Market Briefing — August 4, 2026

CPI inflation: +3.7% YoYCore CPI inflation: +2.8% YoYUnemployment: 4.20%Nonfarm payrolls: +57k jobs MoM

Earnings season is delivering the real signal today. Reddit posted 61% revenue growth year-over-year with profitability metrics more than doubling, the kind of beat that reframes the ad-revenue recovery story. Broadcom's AI supply chain is also speaking: AXT surged on record indium phosphide revenue up 164%, a direct read on accelerating data center buildout. Meanwhile, the 10-year Treasury yield has crept up to 4.75%, tightening financial conditions quietly in the background even as the Fed holds at 3.63%.

Palantir's post-earnings rally is pulling its ETF complex higher, worth tracking for crowding effects. Oracle is catching a double tailwind from easing geopolitical tensions and a deepened Alphabet partnership. On the other side, Continental's net income dropped 45.9% and Japan's equity market sold off sharply — two separate reminders that industrial and export-sensitive names remain under pressure. The Prologis-SEGRO combination signals consolidation appetite in logistics real estate; watch whether that lifts the broader REIT complex.