Y’all Street Daily
The Dow slipped 0.85% Thursday and futures are steady as traders wait on the payrolls print, with soft tech earnings and a sharp silver breakout stirring underneath.
Market Snapshot
All figures are indicative opening levels as of this morning, August 7.
The tape leaned lower Thursday, with the Dow off around 0.85% while the S&P 500 and Nasdaq barely budged.
Gold added around 1.9% and silver jumped around 4.5%, the day’s standout move, while oil eased to around $77 and the dollar and VIX sat quiet.
It reads like a market holding its breath, hard assets bid while everything else waits on the jobs number.
Airbnb popped around 7% after raising its 2026 outlook on a strong second quarter, while ad-tech took a beating, with The Trade Desk down around 7% and AppLovin off nearly 20% on their prints.
Main Story
Everything today runs through the 8:30 a.m. payrolls report.
- June payrolls grew just 57,000 with unemployment at 4.2%, and Wednesday’s ADP report showed only 44,000 private jobs added in July, so expectations are running low.
- The consensus read is that a cooling labor market keeps the Fed’s path toward rate cuts intact even as core inflation lingers around 3.3%.
- The risk is a number soft enough to shift the story from gentle slowdown to stall, which is the line worth watching in the first hour of trading.
Chart of the Day
Silver is the chart that jumps off the screen, up around 4.5% to around $64 and breaking cleanly above the base it built through all of July.
The metal spent a month chopping between $56 and $60 before this week’s push, and it now sits at its highest level in weeks.
The line to watch is that old $58 ceiling, which flips into first support if the move is going to hold.
Technical Trading
A few levels on the radar as silver leads the commodity tape:
- Silver’s daily RSI has pushed to around 72.5, into overbought territory after the run.
- Price is trading well above both its 50-day moving average around $62.40 and its 200-day around $59.50, keeping the longer trend pointed up.
- First resistance sits at the $64.75 pivot, with $64.87 just above it, per Investing.com.
Global News
- The July jobs report lands at 8:30 a.m. ET and is the day’s main event after ADP showed private hiring slowed to 44,000 in July.
- Iran’s draft plan to bar US and Israeli vessels from the Strait of Hormuz put a fresh bid under oil even as crude slipped to around $77.
- Trump extended China tariffs to polysilicon, sending solar stocks higher on hopes of more domestic production.
- Ukraine ratified a $105 billion EU loan deal, lifting European defense names.
- The yen’s post-intervention rally faded a week after the US and Japan stepped in, shifting focus back to policy.
Texas News
In Dallas, developer Leland Burk’s proposed $800 million Preston Hollow mixed-use project cleared its first zoning hurdle after an hourslong debate.
The vote keeps one of the city’s larger commercial real estate bets moving as DFW capital keeps flowing into big mixed-use development.
Looking Ahead
Friday, August 7: The July jobs report at 8:30 a.m. ET is today’s main event and the last major data before the weekend.
Wednesday, August 26: Nvidia reports earnings, the quarter’s biggest test for the AI trade that has carried the tape all year.
The Y’all Street Podcast
Tarek sits down with Jimmy Song, a longtime Bitcoin developer, author and educator, on his path from software engineer to one of the network’s best-known advocates.
Song makes the case for why he thinks Bitcoin stands apart from other crypto, why self-custody matters, and how a fixed supply of 21 million coins builds a different monetary system than fiat.
Prices from Yahoo Finance, CNBC and Fortune. Technical levels from Investing.com and FXStreet. News from Reuters, Al Jazeera and CNBC.
For informational purposes only. Not investment advice. Prices are indicative opening levels and may differ from your broker.
