What Happened Today, Friday August 07, 2026, 5:00 PM ET close
Nasdaq 100 Jumps 1.19% as Soft Jobs Report Eases Fed Worries
A softer labor picture took pressure off the Fed and lifted the major averages into the weekend.
ES and NQ at the close
NQ, Nasdaq 100 futures
29,839.50
+1.19% on the day
Day range 29,453.50 to 29,867.75
ES, S&P 500 futures
7,777.25
+0.55% on the day
Day range 7,725.50 to 7,786.75
How did our Futures Trading Algo Do Today?
Trades
5
ES/NQ/RTY/BTC ยท live + forward-test
Result
-$980.49
net for the day
Discipline
One green setup could not carry four red ones, so the book finished the day in the red.
Our automated alert book took 5 trades and finished down $980.49 on the day, with 1 win and 4 losses. The only winner was MZ_ES_asia_sess_5m, a long that added about $18, while the worst loss came from SH_OU_NQ_LONDON_KZ_15m_N60, a short that gave back roughly $386. The London-session NQ setups did most of the damage, and the single ES Asia-session win was not enough to offset them.
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SPY and QQQ
The story
Stocks pushed higher into the weekend after a weak US jobs report suggested the labor market is cooling, which pushed out expectations for another Fed rate hike. The Nasdaq 100 led the way with a 1.19% gain, the S&P 500 added 0.55%, and the softer data sent the dollar lower. Corning had a standout week as the S&P 500 approached another record high. With rate fears easing, buyers stepped in across large-cap growth and the broader market.
The MAG7 and the megacaps
Big technology names did the heavy lifting again, which is why the Nasdaq 100 outpaced the broader S&P 500 on the day. When the market believes the Fed is closer to done raising rates, growth-heavy megacaps tend to benefit the most, and that is the story the tape told on Friday. The gap between the Nasdaq 100's 1.19% gain and the S&P 500's 0.55% rise shows how concentrated the buying was in the largest growth companies.
After the bell
Weak US jobs data eases Fed hike bets
A soft US jobs report was the main driver, pushing out expectations for another Fed rate hike and sending the dollar lower. Lower rate fears are generally supportive for stocks, and that helped both indexes finish the day higher.
Corning caps a strong week
Corning had what one report called a huge day and week as the S&P 500 approached another record high. Individual winners like this can add to the overall positive mood when the broad market is already leaning higher.
Dollar drops as rate outlook shifts
The US dollar fell as traders repriced the odds of further Fed tightening. A weaker dollar can support both large-cap earnings prospects and risk assets, and it lined up with the day's gains in stocks and Bitcoin.
Geopolitics stays in the background
Headlines pointed to a possible deal between Iran and Oman on the Strait of Hormuz, energy security debates after the Iran war, and fresh US crypto sanctions tied to Iran. These stories kept geopolitics in view but did not derail the risk-on tone.
Crypto
Bitcoin joined the risk-on tone, rising 1.09% to close near 64,963 after trading between roughly 64,120 and 65,289. A weaker dollar and softer rate expectations tend to support risk assets like crypto, so the move fit the day's broader theme. In separate news, the US sanctioned a Dubai crypto exchange for allegedly aiding Iran's IRGC, a reminder that regulation and geopolitics remain part of the crypto backdrop.
Into the night
The overnight session set a firmer tone that carried into the US day. The Nasdaq 100 ranged from a low near 29,453 up to a high around 29,868, a wide span that shows plenty of two-way interest before buyers took control. The S&P 500 held a tighter path between roughly 7,725 and 7,787, and both markets finished near the upper end of their ranges as the weak jobs data reframed the Fed outlook.
What is coming next
Nasdaq 100 close
29,839.5
Up 1.19%, finishing near the session high
S&P 500 close
7,777.25
Up 0.55%, holding a steadier range
Bitcoin
64,963
Up 1.09% alongside a weaker dollar
Fed outlook
Cooler
Weak jobs data pushed out hike expectations
With a weaker jobs report reshaping the Fed picture, the market will watch whether the softer labor trend continues and whether the S&P 500 can push through to a fresh record. Geopolitical headlines around Iran, the Strait of Hormuz, and energy security are worth monitoring, though they stayed in the background this week. As always, keep an eye on the dollar, since its direction has been closely tied to how stocks and Bitcoin trade.
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We send market moving news the moment it hits, straight to Telegram, Discord and X. Then this recap pulls the day together every evening: ES and NQ, the MAG7, crypto, and what is next.
Educational market recap, not financial advice. Futures and options trading carry substantial risk of loss. Prices reflect the 2026-08-07 session close; charts are live and interactive. Always verify before acting.