Dow Kicks Off August With Record High as Tech Claws Back

Oil prices are moving lower and contributing to the renewed investor optimism

The Dow Jones Industrial Average (DJI) is starting August with a 550-point midday pop. The blue-chip index has reclaimed 53,000 and scored an intraday record high thanks to outsized moves from Magnificent 7 stocks. The S&P 500 Index (SPX) and Nasdaq Composite Index (IXIC) are also confidently higher, as investors cheer deflated oil prices after President Donald Trump abandoned a planned attack on Iran over the weekend. Elsewhere, the ISM manufacturing index climbed to 55.6 in July, past expectations and now at its highest level since 2022.

Continue reading for more on today’s market, including:

• Amazon surge drawing options buzz.
• From our Substack: SaaS stocks could have their moment this month.
• eBay stock sits out today’s rally.
• Plus, VSAT bulls rush in; First Solar stock shines; and Marriott dinged by guidance.

Viasat Inc (NASDAQ:VSAT) stock is getting attention from options traders today. Over 15,000 calls have changed hands so far, volume that’s 21 times the average intraday amount and nearly triple the number of puts exchanged. The August 95 call is the most popular, where new positions are being bought to open. VSAT is up 7.1% to trade at $82.44, after the satellite company earned a $981 Space Force contract over the weekend. The stock is up 140% year to date.

First Solar Inc (NASDAQ:FSLR) stock is near the top of the Nasdaq today, up 13.5% to trade at $239.47. The alternative energy company reported an earnings beat on Friday, adding 2.4%. Now, FSLR is eyeing its best single-session gain since October. First Solar stock is down 8.6% year to date still, but has staged a bounce off $200.  

Marriott International Inc (NASDAQ:MAR) stock is near the bottom of the Nasdaq, down 6.7% to trade at $347.85. While the hotel chain reported a top-line beat for the second quarter, the company’s third-quarter guidance came in below estimates. Despite today’s drop, MAR is up 13% in 2026 and has support in place at its 160-day moving average.