The major U.S. stock indexes ended **sharply higher** on Tuesday, **August 4, 2026**, extending Monday's relief rally into a second straight monster session as **Palantir surged 30%** after a blowout quarter, **SpaceX reported its first earnings as a public company**, oil fell further on renewed peace hopes, and the **S&P 500 topped its all-time June closing record** for the first time since the July correction began.
The **S&P 500** surged **1.79%** (+136.02 pts) to a new record **7,736.52.** The **Dow** jumped **1.71%** (+907.47 pts) to **54,085.88**, crossing 54,000 for the first time ever. The **Nasdaq** soared **2.59%** (+671.10 pts) to **26,584.99.** The **Russell 2000** climbed **1.94%** (+57.87 pts) to **3,039.78.**
The **VIX** ticked up **3.65%** to **16.44**, a modest rise despite the rally that signals investors aren't fully putting away their hedges. **Gold** added **1.06%** to **$4,133.80.** **Crude Oil** plunged another **5.53%** to **$75.90/barrel**, its lowest level since March.
