Daily digest · 08-12-2026
Wednesday, Aug 12, 2026, then tomorrow
S&P 500 closed above 7,800 for the first time (+0.26%), Nasdaq 100 led at +0.74%, while the Dow was flat (-0.03%) and Russell 2000 added 0.58%. The primary driver was July PPI coming in flat versus a +0.2% forecast, a second consecutive cool inflation print following today's CPI, which together powered a broad disinflation narrative. Tech (+1.49%) dominated, lifted by Nvidia's $500B financing disclosure, Meta's AI infrastructure spending plan, IREN's Microsoft data center milestone, and SMCI's earnings momentum. Materials (-1.19%), Consumer Discretionary (-1.16%), and Communication Services (-0.86%) lagged, with CSCO -8% post-earnings on margin pressure dragging the latter. The disinflation read and AI capex theme both carry into tomorrow.
Breadth
8 of 11 sectors higher
Volatility
VIX 14.70 (-0.58)
as of 08-12-2026
Sector tape
Today's rotation
One-day total return of the 11 SPDR sector ETFs.
| 💻 Technology | | +1.49% |
| 🏢 Real Estate | | +1.01% |
| 💡 Utilities | | +0.54% |
| 🧺 Consumer Staples | | +0.47% |
| 🏥 Health Care | | +0.27% |
| 🏦 Financials | | +0.19% |
| ⚡ Energy | | +0.18% |
| 🏭 Industrials | | +0.10% |
| 📡 Communication Svcs | | -0.86% |
| 🛍️ Consumer Discretionary | | -1.16% |
| ⛏️ Materials | | -1.19% |
Catalysts
What drove it (and may carry over)
Curated from the day's market wire.
·The S&P 500 closed above 7,800 for the first time, led by chipmakers, after July producer prices came in flat versus a forecast 0.2% increase, marking a second straight cool inflation print.
▲Meta Platforms shares rose nearly 2% as investors welcomed Mark Zuckerberg's $145 billion AI infrastructure spending plan and new Muse AI model releases.META
▲IREN shares jumped 10% after Microsoft accepted the first AI data center under their $9.7 billion cloud deal, advancing IREN's shift from bitcoin mining to AI infrastructure.IRENMSFT
▲Nvidia CEO Jensen Huang said the company has lined up $500 billion in financing, calling its GPUs an investable asset as CME prepares to launch futures on Nvidia H100 and B200 compute.NVDACME
▲Short interest in SpaceX fell to about 11% of its publicly traded shares from a peak of 34% last week as the stock rebounded more than 40% off its low.
▲Databricks closed a $5 billion funding round at a $190 billion valuation, benefiting from demand for agentic AI.
▲Bill Ackman's Pershing Square disclosed a new 3.15 million-share stake in Netflix, betting on double-digit revenue growth and wider margins.NFLX
▲Super Micro Computer shares extended gains as investors continued reacting to a blowout quarterly earnings beat and upbeat forward guidance.SMCI
▼Cisco shares fell 8% despite a Q4 earnings beat as margin pressure overshadowed results, even as Rosenblatt raised its price target to $165.CSCO
▼Cellebrite shares plunged after Q2 results missed top-line expectations and the company cut revenue guidance for Q3 and full-year 2026.CLBT
▼Coherent shares tumbled despite a Q4 beat driven by accelerating data center sales, as investors focused on margin concerns.COHR
▼Dillard's stock fell despite a Q2 profit beat that was largely fueled by $37.2 million in tariff refunds boosting margins.DDS
▼Tapestry shares fell as a soft FY27 sales outlook offset a beat-and-raise Q4 report led by strong Coach growth.TPR
▼Investor Steve Eisman warned that the AI boom has become increasingly dependent on the fortunes of just two companies, OpenAI and Anthropic.
Tomorrow
Thursday, Aug 13, 2026
What is scheduled, with ET times. Not a forecast of how it lands.
No earnings of note are scheduled. The macro calendar is empty for Thursday Aug 13. Watch for continuation or mean-reversion in the PPI-driven disinflation trade: bond market reaction overnight and the 8:30 AM open will be the first signal of whether today's move gets extended or faded. Retail sales at 8:30 AM on Friday Aug 14 is the next scheduled macro catalyst inside a swing-hold window, so Thursday is structurally a digest session.
On deck later this week
08-14-2026🛒 Retail sales8:30 AM ET
By timeframe
Session structure
How the calendar shapes each holding period. Descriptive only: not advice, and not a recommendation to trade anything.
⚡ ScalpThursday has no scheduled economic data at 8:30 AM or any other time, so the pre-market volatility spike that often accompanies major data releases is absent. Intraday conditions will be shaped by overnight price action in tech and AI-related names rather than a discrete news catalyst.
☀️ Day tradeThe session structure Thursday is event-light, with leadership from Wednesday concentrated in Technology (XLK +1.49% to 188.88) and laggards in Materials (XLB -1.19% to 52.59) and Communication Services (-0.86%). CSCO reported a 2.2% EPS beat but fell 8% on margin concerns, leaving a large single-stock gap on the tape.
🌊 SwingA multi-day hold initiated Thursday carries Friday Aug 14 Retail Sales at 8:30 AM as the nearest scheduled macro risk event. VIX closed at 14.7, down from 15.28, alongside an 8-of-11 sector advance and a record S&P 500 close, describing the risk environment entering the hold.
🌲 Long termTwo consecutive below-forecast inflation prints, flat July PPI versus a +0.2% consensus after today's CPI, represent a data sequence relevant to the macro rate and valuation backdrop. Friday's Retail Sales print at 8:30 AM is the next scheduled release with direct bearing on the consumption and growth side of the long-term macro picture.
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