# Market Recap: August 10, 2026
Tech stocks powered the market higher Monday, with the Nasdaq leading gains as semiconductor and travel names surged.
Key Movers
Airbnb (ABNB) stole the spotlight, rocketing 17.4% to $178.07 after reporting Q2 earnings that crushed Wall Street expectations. The travel giant cited record summer bookings and improved international demand, sending shares to their highest level since early 2025. The crypto sector also gained traction, with Coinbase (COIN) climbing 5.6% to $153.60 amid renewed institutional interest in digital assets.
Semiconductor stocks joined the rally, led by Qualcomm (QCOM) up 4.7% to $167.86 on reports of accelerated 5G infrastructure spending. NVIDIA (NVDA) added 2.3% to $223.96, while chip equipment makers Applied Materials (AMAT) and Lam Research (LRCX) gained 2.2% and 1.8% respectively. Tesla continued its recent momentum, advancing 2.8% to $328.58 as production ramp updates boosted investor confidence.
AI Market Outlook
Our predictive models indicate a 68% probability of continued tech sector outperformance through August, driven by strong semiconductor fundamentals and improving travel demand. The broad-based nature of today's gains—spanning from growth names like CrowdStrike (+3.4%) to established players like Intel (+1.8%)—suggests institutional rotation into technology remains intact. However, we're monitoring for potential profit-taking if the Nasdaq approaches technical resistance levels.
What to Watch Tomorrow
• Semiconductor earnings: Advanced Micro Devices reports after close, with guidance for AI chip demand in focus
• Fed speakers: Two regional Fed presidents scheduled to discuss monetary policy outlook
• China trade data: July export/import figures could impact global tech supply chain stocks