Mixed Markets, SpaceX Slides, Lilly Soars
By Tom LoBianco | Quincy News Correspondent
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Washington (Quincy News) — Market Recap: Oil stayed mostly flat Wednesday amid continued talk of a pending peace deal. SpaceX stock dropped Wednesday following its first earnings report. The company beat revenue estimates, but heavy spending on AI infrastructure weighed on earnings. Pharma giant Eli Lilly’s stock jumped after it reported a 48% year-over-year increase in revenue.
The S&P 500 fell 0.17%, the Nasdaq dropped 0.83%, and the Dow gained 0.49%. Treasury yields stayed mostly steady Wednesday and Brent crude was little changed near $80 a barrel.
Today’s Focus: Investors will get another look at the labor market Thursday with weekly jobless claims due at 8:30 a.m. ET, the final major economic release before Friday’s closely watched July employment report.
Before the opening bell, Warner Bros. Discovery reported better-than-expected earnings, though revenue missed estimates. Energy company ConocoPhillips beat Wall Street expectations in its earnings report Thursday morning.
ON THE SCHEDULE FOR THURSDAY, AUGUST 6, 2026
-8:30 a.m. ET – Weekly jobless claims; second-quarter productivity and unit labor costs
-Earnings: Airbnb, Warner Bros. Discovery, ConocoPhillips
-Friday, 8:30 a.m. ET – July employment report
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