Gold and Silver strengthened with Gold up 6% in the past 5 days at $6040CAD and up 3% month over month. Silver is up 5% this month and up 9% from the last 5 days now $89.29 CAD. Silver is still up 69% Year over Year. US Dollar index DXY is flat this week at 99.74 and up 1.5% YOY. SP500 Volatility Index VIX is down 2%. SP 500 ES futures rose 2% and are now trading 7785 off 40 handles from their new all time highs and having remained above 7000 since mid April..
The S&P 500 and Nasdaq surged to record highs, driven by a unique mix of blockbuster corporate earnings and easing inflation fears.
A much cooler-than-expected July jobs report—showing a loss of 1,000 jobs —further calmed Wall Street. This labor slowdown prompted traders to dramatically scale back expectations for upcoming Federal Reserve interest rate hikes.
Crude WTI futures are down 1% at $79.47 and now up 20% YOY. On March 2, 2026, Iran's Islamic Revolutionary Guard Corps (IRGC) officially declared the Strait of Hormuz closed.
On June 17th President Trump stated that US oil reserves would run dry in 4 weeks without an Iranian compromise. “We run out of reserves at about four weeks,” Trump said
NYMEX NG natural gas futures which spiked over 100% above $7 in January are flat this week now trading $2.76 USD per Million BTU.
The Crypto collapse has paused near the 52 wk low, with BTC up 2.5% this week to $65,100 and ETH up 3% at $1920. Crypto Holding Company Strategy MSTR is up 9% at $100.01 over the past 5 days. .
Ai powered Government Contractor Palantir is up 35% - PLTR currently trades at $172.01, and up 9% YOY after falling from a 52 week high of 207.52.
NVDA is up 13% in the past 5 days at $223.96, and is over a 5 Trillion dollar market cap. NVDA accounts for approximately 8% of the entire SP500
SPCX SpaceX is up 25% this week at $133.11, below $2 Trillion dollars in market cap. Spacex Quarterly loss stands just above $500 million.
S&P AeroSpace and Defense ETF XAR rose 8% in the past 5 days to $286.83 after making a new All Time High in March of 295.23 following the assasination of the Iranian Supreme Leader. XAR is up 13% Year to Date
Weekly Jobless Claims were up 1,000 at 199,000 for the week ending Aug 1st
The Gold/Silver ratio is down 3% now at 67.65 up from a low this year of 43.52 after falling steadily since late October and from its March high of 107. Longer 20 yr and 30 yr US government bonds yields remain above 5%, currently 5.22 and 5.21% respectively.
The Polymarket quoted probability of a total 0 rate cuts is at 86%. The probability of at least a 25 bps rate hike is currently 55%. Short term rates stand above 4% in the 2yr at 4.22%
US Comex Copper Futures HG, a leading indicator of economic growth, are up 1% $6.62 usd/lb after a recent new all time high in this week of $6.72 usd/lb..