US-Iran Deal Hope Grows; SpaceX Sinks After AI Splurge | The Asia Trade 8/5/2026

SHERY: THIS IS THE ASIA TRADE. I’M SHERY AHN IN TOKYO. TOP STORIES THIS HOUR -- ASIAN STOCKS SET TO FOLLOW WALL STREET HIGHER AFTER U.S. CHIPMAKERS SAW THEIR BEST FOUR-DAY RALLY SINCE 2020.THE S&P 500 ALSO CLIMBING TO AN ALL-TIME HIGH. SPACEX SINKS IN LATE TRADE, DESPITE REVENUE BLOWING PAST ESTIMATES IN ITS EARNINGS DEBUT. IT LAUNCHED HIGHER THAN EXPECTED SPENDING IN ITS A.I. UNIT. OIL DROPS BELOW $80 A BARREL FOR THE FIRST TIME IN OVER THREE WEEKS AS PROSPECTS OF A DEAL FOCUS ON THE STRAIT OF HORMUZ GAIN ...