📊 Weekly Market Scoreboard

Week ending August 07, 2026

🏢 Sector Heatmap

🔎 The Week That Was

Wall Street had itself a week. The S&P 500 closed Friday at 7,757.64, up 2.07% on the week, while the Nasdaq led the charge with a 3.00% gain to 26,690.62 — and it wasn't subtle about who drove it.

Technology was the undisputed engine, tacking on 5.58% as AI-adjacent names caught fire across the board. The Dow and Russell 2000 tagged along for the ride, gaining 1.61% and 1.76% respectively, suggesting the optimism wasn't purely a mega-cap story — small caps showed some life too.

The flip side? Energy dropped 2.19% and Utilities fell 1.69%, a classic risk-on rotation signal. When investors are buying speculative growth and dumping defensive plays, the market is telling you something about sentiment — and right now, sentiment is leaning greedy.

Heading into Monday, the big question is whether this AI-fueled momentum has legs or if it's running on fumes. With Middle East tensions simmering after the UAE's report of an Iranian missile strike on an ADNOC vessel in the Strait of Hormuz, energy markets could get complicated fast. Watch oil prices and any weekend developments before markets open.

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🟢 Top 5 Winners

🔴 Top 5 Losers

📈 What Drove the Moves

The week's biggest story was Atlassian — TEAM rocketed 43.74% to $149.07, the best performance in the entire market this week. That kind of move doesn't happen without an earnings beat, and Atlassian delivered one, with results showing enterprise software demand remains stubbornly resilient despite every macro headwind you can throw at it. Palantir wasn't far behind, surging 36.90% to $172.01, riding the same AI infrastructure wave that's been lifting the sector — two factors reportedly drove Nvidia's biggest weekly surge in over a year, and that enthusiasm bled directly into the broader AI ecosystem. Shopify popped 29.54% to $151.57 and Unity jumped 28.82% to $43.00, rounding out a week where software names simply could not be stopped.

On the other side of the ledger, Datadog had a rough one — DDOG fell 14.50% to $233.93, a reminder that even in a hot sector, execution matters and any whiff of guidance disappointment gets punished fast. Google's parent Alphabet slid 5.14% to $354.30, an eyebrow-raising move given the broader tech strength, suggesting investors may be rotating out of the search giant and into more AI-pure plays. Amazon dipped 3.36% to $274.48, which is notable given the headline that one of its data centers will be powered by the U.S.'s most polluting plant — not a great look for a company leaning hard into its sustainability narrative.

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📅 Earnings: Week Ahead

🔭 What to Watch This Week

Two names report this week that are worth circling on your calendar. Super Micro Computer — SMCI — steps up Tuesday with a consensus estimate of $0.56 per share. After years of being a server hardware darling on the back of AI data center buildouts, SMCI has had a complicated relationship with Wall Street lately, and the market will be watching closely for any signs that AI infrastructure spending is accelerating, decelerating, or just getting lumpy.

Cisco reports Wednesday with expectations set at $0.99 per share. CSCO is a different kind of read — less about AI hype and more about enterprise networking spend, which acts as a real-world temperature check on corporate IT budgets. If companies are tightening belts, Cisco tends to feel it early. If spend is holding up, that's a quiet green flag for the broader tech ecosystem.

Between these two reports, you'll get a pretty clean picture of whether the hardware and infrastructure layer of the AI trade is keeping pace with the software names that dominated this week's headlines. Given how hard TEAM, PLTR, and SHOP ran, any disappointment from the picks-and-shovels side of the trade could be a cold shower.

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