The "Hormuz Peace Rally" & The Physical AI Rotation | Bulls, Bears and the Bell (Aug 05, 2026)

The global markets are opening at all-time highs today, fueled by what traders are calling the "Hormuz Peace Rally" as rumors of a Middle East de-escalation send crude oil prices down 5%.In this morning's pre-market edition of Bulls, Bears and the Bell, hosts Joe DiMartino and Jane Sterling break down a highly dynamic global hand-off. While Tokyo's Nikkei 225 jumped 3.7% overnight, US tech is telling a "tale of two cities". US stock futures are pointing upward, with S&P 500 futures rising 0.36% and Dow futures gaining 0.46%. However, tech heavyweights SpaceX (down 7.5%) and AMD (down 8.8%) are taking a pre-market hit as investors demand answers on massive AI capital expenditures and lukewarm guidance.Joe and Jane discuss the broadening of the "AI Capex" trade, tracking a noticeable rotation away from pure-play software/chips and into the physical side of AI infrastructure—including energy-efficient plays like Siemens Energy (up 3.5%). Finally, they prep you for the crucial ISM Services PMI data dropping at 9:00 AM ET, which will serve as the ultimate test for the resilience of the US consumer.In this episode:01:15 – The "Hormuz Peace Rally" & Oil's 5% Drop04:30 – Global Markets: Nikkei’s 3.7% Surge & US Index Futures08:45 – Tech Reality Check: Why SpaceX and AMD are Sliding13:10 – The Physical AI Pivot: Energy, Infrastructure, & Siemens Energy18:25 – Macro Catalyst: Previewing the 9:00 AM ISM Services PMITune in to get your morning strategy briefing before the opening bell rings!DisclaimerBulls, Bears and the Bell is a financial news and analysis podcast intended solely for informational, educational, and entertainment purposes. Nothing discussed in this episode constitutes investment, legal, or tax advice, nor does it represent a recommendation to buy, sell, or hold any security, financial instrument, or asset. All investment decisions carry risk, including the potential loss of principal. Listeners should conduct their own research and consult with a licensed professional before making any financial decisions. The hosts, producers, and parent entities may hold positions in some of the assets or securities mentioned in this broadcast.