Headline: "S&P 500 surged Monday (+1.5%) as Trump called off planned US strikes on Iran, easing geopolitical tensions and dropping oil" (Benzinga, Aug 4 2026). The fresh de-escalation catalyst plus AMD earnings after Tuesday's close and Palantir's 16% jump on raised guidance keep the risk-on tape intact, favoring a higher close into Aug 5. The rally is now 4 days extended, so conviction is modest.