The S&P 500 and Dow hit record closes, with futures higher for both averages despite weaker-than-expected ADP private payrolls data for July. AMD fell 8% premarket despite beating estimates on sales, EPS, data center revenue, and gross margin, as third-quarter guidance of $13 billion fell short of whispers around $14 billion. SpaceX’s first quarterly report as a public company topped estimates on revenue and earnings, but shares declined nearly 11%, with lock-up restrictions expiring the next day. Nvidia shares rose nearly 2% premarket after Elon Musk said SpaceX would build exclusively on Nvidia’s Vera Rubin architecture for AI infrastructure.
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