What Happened Today, Tuesday August 04, 2026, 5:00 PM ET close
Nasdaq surges 3.2% and the S&P 500 gains nearly 2% in a broad risk-on session
A powerful rally lifted the major indexes across the board, with tech leading and Bitcoin firming alongside.
ES and NQ at the close
NQ, Nasdaq 100 futures
29,818.25
+3.21% on the day
Day range 28,831.75 to 29,956.50
ES, S&P 500 futures
7,774.50
+1.92% on the day
Day range 7,629.00 to 7,786.00
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The story
US stocks pushed sharply higher on Tuesday in one of the strongest sessions in weeks. The Nasdaq 100 led the way with a 3.21% gain, while the broader S&P 500 rose 1.92% and the rally reached across sectors rather than sitting in a handful of names. Sentiment got a lift from reports out of Qatar suggesting progress toward US-Iran talks on ending the war, which eased some of the geopolitical worry that had weighed on risk appetite. Both indexes closed near the top of their daily ranges, a sign buyers stayed in control into the bell.
The MAG7 and the megacaps
The megacap technology names did much of the heavy lifting on Tuesday, which is why the tech-heavy Nasdaq 100 outpaced the broader market by a wide margin. When the largest companies move together to the upside, they carry an outsized share of the index gains, and that was clearly the case in this session. The strength in that group helped the Nasdaq travel roughly 1,100 points from its intraday low to its high before settling near the top of the range.
After the bell
Reports of progress toward US-Iran talks
Qatar said progress had been made toward US-Iran talks on ending the war, per Reuters. Any sign that a major conflict could be moving toward resolution tends to ease risk premiums, and stocks responded with a broad advance on Tuesday.
Oil and Hormuz headlines in focus
Reuters reported that Asia crude and fuel imports are recovering but still shy of pre-war levels, while Iran was said to be seeking control over inbound and outbound traffic through the Strait of Hormuz. Energy-supply questions like these stay on the market's radar because they feed into inflation and growth expectations.
Black Sea and defense developments
Turkey called on Russia and Ukraine to ensure Black Sea safety after a drone attack, and separate reporting noted Ukraine's Fire Point beginning to integrate European technology into its missile defense system. These stories kept geopolitics in the headlines even as the equity mood improved.
Broad-based rally, not a narrow one
With the S&P 500 up 1.92% alongside the Nasdaq's 3.21% jump, the gains extended beyond just the biggest tech names. A wider advance like this suggests improving confidence rather than a single-sector story.
Crypto
Bitcoin firmed up alongside stocks, adding 1.17% to close around 64,203. The move was steadier than the equity rally, with the coin trading in a tighter band between about 63,293 and 64,339 on the day. That kind of quiet, positive drift often shows up when risk appetite improves broadly, and it kept crypto in step with the risk-on tone across US markets.
Into the night
Ahead of the US open, the tone leaned constructive as traders digested a run of geopolitical headlines. Reports of progress toward US-Iran talks and continued attention on Black Sea safety and oil import trends set the backdrop. Futures firmed into the session and the buying only accelerated once cash trading got underway.
What is coming next
Nasdaq 100 close
29,818
Up 3.21%, finished near the session high of 29,956
S&P 500 close
7,774
Up 1.92%, held above the 7,629 low all day
Bitcoin
$64,203
Up 1.17%, steady in a tight range
Watch item
US-Iran headlines
Follow-through on talks could keep driving sentiment
After a session this strong, the question is whether buyers can build on the move or whether some of Tuesday's gains get tested. Keep an eye on any follow-up to the US-Iran talks reporting, since geopolitical relief was a big part of the story. The Nasdaq's close near its high is worth watching, because holding those levels would signal the rally has staying power rather than being a one-day pop. As always, this is educational and not financial advice.
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Educational market recap, not financial advice. Futures and options trading carry substantial risk of loss. Prices reflect the 2026-08-04 session close; charts are live and interactive. Always verify before acting.