S&P 500 Rally Faces Earnings Test | Open Interest 8/4/2026
Get a jump start on the US trading day with Dani Burger on "Bloomberg Open Interest." A new S&P 500 record is in sight as earnings put the rally to the test. SpaceX and Palantir take center stage, while oil slides on hopes for a US and Iran breakthrough. Plus, Redd Brown joins us on McDonald’s leadership shakeup, Bob Sloan of S3 says SpaceX is the "frothiest trade the market has even seen." Phantom CEO Jim Cantrell takes a deep dive into the space boom, and Goldman’s Amanda Lynam joins us with a look at hidden credit stress.
Chapters:
00:00:00 – Open Interest
00:01:08 – SpaceX Earnings Preview, AI Spending, Starlink Cash Flow, Lockup Expiration & Tesla Merger Speculation
00:04:12 – Pfizer, Merck, Patent Expirations, Drug Pipelines & Pharma Cost Cuts
00:07:20 – McDonald’s Weak Traffic, Consumer Spending Pressure & K-Shaped Economy
00:09:47 – Caterpillar AI Demand, Spotify Outlook & Nike Downgrade
00:11:05 – High Interest | Anthropic-Nvidia Compute Deal, U.S.-Japan Yen Intervention & U.S.-Iran Hormuz Negotiations
00:12:16 – Iran Deal Talks, Strait of Hormuz, China AI Policy & White House Strategy
00:17:30 – Nimrit Kang Northstar Asset Management | AI Broadening Beyond Mega Caps, Earnings Growth, Caterpillar & Market Rotation
00:30:54 – Top Calls | Nike Downgrade, Walmart Downgrade & Palantir Price Target Increases
00:31:58 – Palantir’s AI Growth, Government Contracts, SpaceX AI Strategy & Compute Monetization
00:38:51 – Caterpillar Earnings, AI Infrastructure Boom, Data Center Demand & Industrial Growth
00:44:17 – JOLTS, Durable Goods, Business Investment & AI Impact on Economic Data
00:46:23 – Indrani De FTSE Russell | AI Concentration Risk, Small-Cap Leadership, Higher Rates & Equity Market Volatility
00:54:43 – High Interest: NYC Rat Decline, Wells Fargo Tokenized Deposits, JPMorgan AI Hiring & AI Credit Risks
00:56:28 – Amanda Lynam Goldman Sachs | AI Credit Markets, Private Credit, Concentration Risk & Debt Financing for AI Infrastructure
01:05:32 – Jim Cantrell Phantom Space | SpaceX Earnings, Space Industry Outlook, Capital Availability & Launch Market Competition
01:11:35 – ON Semiconductor, Snap Results & SpaceX Ahead of Earnings
01:13:24 – Bob Sloan S3 Partners | SpaceX Short Interest, Lockup Risks, Tesla Comparisons & Hedge Fund Positioning
01:21:29 – Hedge Fund Returns, AI Volatility & Situational Awareness Fallout
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