Daily Briefing — August 5, 2026 | Three Straight Record Closes, Oil Under $79, and a Possible Hormuz Deal

US markets notch a third consecutive record close after Palantir's stock surges nearly 30% on a 93% revenue jump, Amazon briefly crosses $3 trillion in market value, and Treasury Secretary Scott Bessent says a deal to reopen the Strait of Hormuz could land as soon as today. We cover oil's dramatic slide from above $100 to under $79 a barrel in under two weeks, a genuinely encouraging July ISM manufacturing report showing the first employment expansion in 33 months, and the more tempered overnight reception to earnings from SpaceX and AMD. We also look at Asian markets rallying sharply on the same Hormuz optimism, gold's third straight day of gains near $4,150 an ounce, and a note of caution as US margin debt hits an all-time high. This episode is for informational purposes only and does not constitute financial, investment, legal, or tax advice.