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On this episode of Asking for Trend, Host Josh Lipton breaks down some of the biggest takeaways and trends of the trading day.

Wall Street was rocked on Monday as US equities (^GSPC, ^DJI, ^IXIC) were in a free fall, finding some relief and eventually staging a bounce back on Tuesday. Part of those declines is due in part to issues with the Bank of Japan raising its interest rates. Bitcoin (BTC-USD) is also bouncing back after a large drop in value, currently sitting above $50,000. Yahoo Finance Reporter Jared Blikre breaks down the top takeaways for the trading day on Tuesday, August 6.

KeyBanc Capital Markets equity research analyst Jackson Ader joins Asking For A Trend to give insight into the tech sector, how its performing, and what investors need to know. In terms of a chief concern this earnings season for Big Tech CapEx spending, Ader relates back to Microsoft (MSFT) and its recent earnings: "What Microsoft said was, hey, we're actually a little bit more flexible than maybe you realize only half of our CapEx really goes into those fixed long term, 15, 20 year assets. And the other half is kits and GPUs. Maybe they're going to be GPUs, maybe they're going to be CPUs, maybe they're going to be in-house chips, but the focus on flexibility in artificial intelligence, I think is going to be a really good one, and key for the industry..."

The S&P 500 recovered some of its sell-off losses, closing Tuesday's session 1.03% higher. While the widespread selling activity erased a sizable chunk of the Magnificent Seven's market cap, is this pattern of peak-to-trough declines really unprecedented for the index? Julie Hyman breaks down Goldman Sachs charts illustrating the S&P 500's history of sell-offs and ability to bounce back from similar pullbacks.

Oil markets (CL=F, BZ=F) are experiencing a rebound along the broader market and as tensions rise in the Middle East. Sankey Research president and lead analyst Paul Sankey explains, "This latest issue that we're facing between Israel and Iran is not in itself even a new twist to the plot. And in that regard, if you think back to, say, 2019, when Iranian proxies attacked Saudi Arabia and knocked out 7 million barrels a day of capacity, or when Russia invaded Ukraine in 2022, I'm sad to say that the current environment is not very scary for oil supply interruptions. I will say that the markets are quite scary. So the financial markets are really driving oil right now."

Lastly, a slew of companies released their latest quarterly reports after the market close. Asking for a Trend anchor Josh Lipton breaks down the biggest after-hours movers, from Reddit (RDDT) to Lumen Technologies (LUMN).

This post was written by Melanie Riehl