The Dow Jones, S&amp;P 500, and Russell 2000 each hit fresh record-highs in intraday trading as stocks try to maintain the recent market rally. Dominic Chu and Kelly Evans speak with Baird Strategas Chief ETF Strategist, Todd Sohn, about how investors should be navigating the recent momentum and whether traders should be chasing the new highs. Meanwhile, Craig Moffett, MoffettNathanson Telecom Analyst, breaks down SpaceX’s first quarterly earnings as a public company and explains how the company’s Starlink business may pose a problem to traditional wireless service providers like Verizon, T-Mobile, and AT&amp;T. Later on, the anchors are also joined by Compass Datacenter CEO, Chris Crosby, to discuss the recent rise in data center demand and how developers can approach building campuses to work with local communities in ways that benefit everyone involved. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

SpaceX Stock Slumps, Compass Datacenter CEO, Record-High Investing Playbook 8/5/26

Power Lunch

The rally rolls on, although losing a little bit of steam. Welcome to Power Lunch alongside Dominic Chu. I'm Kelly Evans. Brian is off today. The indices are off their highs of the day, but we still hit some records for the Dow and the S&P once again with the Russell 2000 joining the party this time. It's been a remarkable rebound, I should say, for stocks. The S&P has rallied 1,500 points from the March lows.

All right. Plus, we're looking at some of the key movers today. SpaceX and AMD, of course, both are falling following earnings reports and an AI executive shakeup at Alphabet, another one to watch, plus a stock that's up more than 3,000 percent in the last year. SanDisk reports after the closing bell. We're going to tackle all of that and much more coming up on this show.

We begin with the rally on Wall Street. Despite losing some steam today, the S&P is still on track for its best week since April, but not everyone believes this record run can last. Famed investor Michael Burry is once again betting against the market. In a post on Substack, he warned, it is possible we are near a major top and possibly a 1987-type fall. Burry argues the rally is feeding on itself with falling market volatility,

encouraging big institutional investors to buy even more stocks. So is he right? Let's ask Todd Sohn. He's the chief ETF strategist at Baird Strategas. This, you know, Todd, every time that this warning comes, my phone lights up and people want to know, and I can be quite vulnerable to these guys. And I go, he's right. And we got to know.

SpaceX Stock Slumps, Compass Datacenter CEO, Record-High Investing Playbook 8/5/26

Read the full transcript

The candid version is on a podcast,
not the earnings call.

SpaceX Stock Slumps, Compass Datacenter CEO, Record-High Investing Playbook 8/5/26

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.