August 4 market wrap: Nasdaq-100 jumps 3.32% as Palantir surges

A broad rally led by the Nasdaq-100

U.S. stocks closed sharply higher on Tuesday, August 4, 2026. The S&P 500 finished at 7,736.52, up 136.02 points, or 1.79%. The Nasdaq-100 gained 956.36 points, or 3.32%, to 29,733.16, while the Dow Jones Industrial Average added 908 points, or 1.71%, to 54,086. Official Cboe delayed closing feeds reported each level, its previous close and the regular-session move.

Volatility rose even as Treasury yields fell

The Cboe Volatility Index closed at 16.50, up 0.64 point, or 4.04%, from 15.86 on August 3. At the same time, the U.S. Treasury’s official daily curve put the 2-year par yield at 4.20%, five basis points below 4.25%, and the 10-year at 4.63%, seven basis points below 4.70%. Stocks, the VIX and Treasury yields therefore did not move in the simplest textbook pattern; that is a useful reminder to read each measure on its own terms.

Wheel watch: Palantir gaps after its quarterly release

Palantir closed at $162.66, up $37.01, or 29.45%, from $125.65. Its second-quarter release was filed with the SEC after Monday’s regular session. The issuer reported $1.935 billion of quarterly revenue, up 93% year over year, and $764 million of U.S. commercial revenue, up 149%. Those figures provide current company context for Tuesday’s gap without turning one closing move into an entry signal.

For a cash-secured put or covered-call review, a large earnings gap changes the stock-price reference and may also change the option surface. The close does not reveal the next session’s spread, skew or executable premium. Option prices are quoted per share, one standard contract represents 100 shares, and the full cash or share obligation matters more than a headline percentage move.