Fed timing, AI investment and profit breadth lead Saturday's market news

U.S. equities were closed, leaving QQQ and SPY unchanged at the prior regular-session close. The main developments were a later expected Fed rate cut, broad earnings growth, Nvidia and ByteDance AI investment, and wearable-device development.

Published Aug 3, 2026

QQQ: 0.00%
SPY: 0.00%
QQQ − SPY: 0.00%

What shaped the session

Rate-path reassessment

Goldman Sachs pushed its expected Fed cut to December 2026, while Chicago Fed President Goolsbee linked different AI-productivity outcomes to either higher rates or stagflation risk.

AI investment and capacity

Nvidia's AI-ecosystem equity investments this year exceeded $40 billion, while ByteDance raised its capital-spending plan by 25%.

Profit breadth and AI devices

The earnings scoreboard showed broad profit growth and frequent estimate beats, while Qualcomm said OpenAI and Meta were developing AI wearables that could replace smartphones.

Key news

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