As of Monday, August 3, 2026 (4:00 PM ET close), the S&P 500 closed at 7,600.50 (per public.com realtime index print; XSP $760.05 × 10 cross-check = $7,600.50), up +1.48% on the session versus Friday's 7,489.72 yfinance close and +2.53% WTD versus Monday July 27's 7,413.18 close. The Monday tape was a mega-cap tech continuation (Desk judgment: Iran de-escalation relief bid) — XLK +1.89%, QQQ +1.85%, XLC +2.86%, XLY +1.83%, and small caps IWM +1.87% confirmed the post-AMZN/MSFT structural bid is intact, while energy lagged (Desk judgment: on Trump's Saturday call-off of planned Iran strikes) (XLE -1.29%, USO -5.5% on the day). The 1-month 7,500 target was decisively broken — the S&P closed +1.34% above target, the first close above 7,500 since June 18 — and the 3-month 7,600 target is now met. New targets established: 1-month 7,650, 3-month 7,750, year-end 7,800. Tomorrow's Alphabet Q2 print (after market Tuesday) is the next validation bar for the AI capex durability thesis; Friday's July jobs report (8:30 AM ET) is the week's dominant macro catalyst.