Dow Jones - 44,175.61 (+0.47%) 

Nasdaq - 21,450.02 (+0.98%)

S&P 500 - 6,389.45 (+0.78%)

• Major Indexes Post Weekly Gains – The NASDAQ jumped 3.9% for the week, setting a new record high and erasing losses from the prior week’s sell-off. The S&P 500 rose 2.4%, closing just below its recent peak at 6,389.5, while the Dow advanced 1.4%.
• Outlook – The stock market faces a potentially turbulent week as upcoming inflation data and earnings reports could test recent gains. With the S&P 500 and Nasdaq at record highs, some strategists warn that a pullback may follow the recent rally.
• Tariffs Take Effect – President Trump’s sweeping new tariffs on imports from more than 90 countries went into effect last week.
• Trade Desk Plunge – Shares of Trade Desk tumbled nearly 40% despite strong earnings after CEO Jeff Green warned that major brands are facing mounting pressures from tariffs and inflation. This marks the company’s second earnings-related drop of over 30% this year.
• Intel CEO Pushback – Intel CEO Lip-Bu Tan defended his record after President Trump called for his immediate resignation, stating he has acted ethically and will not step down.
• Intel CEO Resignation Odds – Prediction markets put the probability of Intel CEO Lip-Bu Tan resigning in 2025 at 37% following Trump’s comments, though Tan has denied wrongdoing.
• Gilead Sciences Rallies – Gilead Sciences stock climbed sharply following a strong Q2 earnings report and notable progress in HIV treatment development.
• Fed Nomination – President Trump nominated Stephen Miran, current Chair of the Council of Economic Advisers, to fill an open Federal Reserve Board seat.
• Semiconductor Tariffs – Trump announced a 100% tariff on imported semiconductors and chips, exempting companies that manufacture within the United States.
• Gold Prices Pull Back – Gold futures slipped from a record close of $3,491.30 to $3,463.30 after the White House said it would issue an executive order clarifying “misinformation” about tariffs on gold bars and specialty products.
• Oil Prices Mixed – West Texas Intermediate settled at $63.88, down 0.23% on the day, after dipping earlier to $62.92. Brent crude closed at $66.43, up slightly on the day but lower for the week.
• Crypto in Retirement Accounts – Trump signed an executive order permitting alternative assets, including cryptocurrencies and private equity, to be added to millions of Americans’ retirement accounts.
• Bitcoin and Altcoins Gain – Bitcoin rose roughly 1% to near $117,000, while ether and XRP jumped more than 5% and 11%, respectively, with Ethereum hitting a seven-month high.
• Altcoin Momentum – Early Friday, altcoins extended gains after Ripple announced the acquisition of a stablecoin payments platform and Chainlink launched a funded token reserve program. XRP surged up to 8%, LINK rose as much as 11%, Ethereum climbed over 1%, and Solana gained more than 2% ahead of the U.S. market open.
• Fannie Mae & Freddie Mac Offering – The Trump administration plans a public offering of shares in mortgage giants Fannie Mae and Freddie Mac later this year, potentially raising $30 billion, with valuations possibly exceeding $500 billion and 5%–15% of shares to be sold.
• Tariff Impact on Automakers – Toyota reported a $3 billion hit to fiscal Q1 operating income as a direct result of new tariffs.
• Monster Beverage Upgrade – Piper Sandler upgraded Monster Beverage (MNST) to overweight from neutral, boosting the price target to $74 from $54, implying nearly 22% upside.
• Peloton Upgrade – Goldman Sachs upgraded Peloton (PTON) to buy from neutral, raising its 12-month price target to $11.50 from $7, citing improved investor sentiment after recent results.
• Instacart Upgrade – Benchmark Equity Research raised its rating on Instacart (CART) from hold to buy, setting a $67 price target for nearly 36% potential upside after strong earnings.
• Gen Digital Jumps – Shares surged over 9% after fiscal Q1 results beat expectations and the company raised full-year revenue and profit guidance.
• Natera Rises – The genetic testing firm gained about 11% after topping Q2 revenue estimates and lifting full-year gross margin and revenue guidance above analyst forecasts.
• Tesla AI Shift – Tesla halted development of its custom AI supercomputer “Dojo” and will instead use off-the-shelf GPUs, increasing purchases from Nvidia and benefiting both Nvidia and AMD.
• Gold Mining Rally – The VanEck Gold Miners ETF surged nearly 12% this week and is up 73% year-to-date on Fed rate cut optimism and gold tariff news, with key holdings hitting 52-week highs.
• AMC Networks Beat – The company exceeded earnings and revenue forecasts, fueled by 12% year-over-year growth in its streaming segment despite a modest drop in traditional subscribers.
• Under Armour Disappoints – Shares sank after weaker-than-expected earnings and guidance.
• Viavi Solutions Gains – Stock rose following stronger-than-expected results.
• Wendy’s Lowers Outlook – Despite topping Q2 earnings estimates, Wendy’s cut its full-year earnings forecast and warned of declining sales.
• Pinterest Miss – Shares slid in premarket trading Friday after adjusted earnings came in below expectations.

• Intel (INTC) 
• Tesla (TSLA)
• The Trade Desk (TTD)
• Apple (AAPL)
• Nvidia (NVDA)

Biggest Gainers

• Newegg Commerce (NEGG) +34.24%
• SoundHound AI (SOUN) +26.40%
• Bitmine Immersion Technologies (BMNR) +24.59%
• Sotera Health Company (SHC) +24.51%
• Hagerty, Inc. (HGTY) +14.03%

Biggest Losers

• The Trade Desk (TTD) -38.61%
• Twilio, Inc. (TWLO) -19.38%
• The Goodyear Tire Company (GT) -18.52%
• AvePoint, Inc. (AVPT) -18.11%
• Under Armour, Inc. (UAA) -18.07%

Weekly Notables 

Gilead Sciences Shares Rally on Strong Q2 Results and HIV Drug Progress

Shares of biopharma leader Gilead Sciences (NASDAQ: GILD) surged 8.7% in morning trading on Friday after reporting strong Q2 2025 earnings that beat Wall Street expectations and prompted an upward revision to its full-year profit outlook. The company posted revenue of $7.08 billion and adjusted EPS of $2.01, both surpassing analyst estimates. Gilead raised its full-year adjusted EPS guidance to a midpoint of $8.10 and slightly increased revenue guidance to $28.5 billion, just below forecasts. Investors focused on the earnings beat and improved profit forecast as positive signals for the company’s prospects.

Trade Desk Shares Plunge 38% as CEO Cites Tariff Pressures on Major Clients

The Trade Desk (TTD) stock dropped over 35% in premarket trading Friday, closing down 38% by market open and wiping out more than $12 billion in value. CEO Jeff Green attributed the sell-off to tariff-related uncertainty hitting the company’s large multinational advertising clients. Green said on the earnings call, “The impact of tariffs and related policies on these [large] businesses are very real,” noting that Trade Desk’s focus on major brands, usually a strength, is currently a short-term negative. For Q2, Trade Desk reported earnings of $0.18 per share, meeting estimates, and revenue of $694 million, slightly above forecasts. It projected Q3 revenue of at least $717 million, in line with expectations.

The Week Ahead

• Potential market moving catalysts this week: Monday (8/11): No reports. Tuesday (8/12): Consumer Price Index (CPI), Treasury Budget. Wednesday (8/13): EIA Crude Oil Inventories, MBA Mortgage Applications Index. Thursday (8/14): Continuing Claims, EIA Natural Gas Inventories, Initial Claims, Producer Price Index (PPI). Friday (8/15): Business Inventories, Capacity Utilization, Empire State Manufacturing, Export Prices, Import Prices, Industrial Production, Net Long-Term TIC Flows, Retail Sales, University of Michigan Consumer Sentiment- Preliminary.
• Earnings: Monday (8/11): Aaon Inc. (AAON), Archer Aviation Inc. (ACHR), AST SpaceMobile Inc. (ASTS), Barrick Mining Corp. (B), Celanese Corp. (CE), Franco-Nevada Corp. (FNV), Oklo (OKLO), Monday.com Ltd. (MNDY). Tuesday (8/12): Cardinal Health Inc. (CAH), CAVA Group Inc. (CAVA), Circle Internet Group Inc. (CRCL), CoreWeave (CRWV), H&R Block Inc. (HRB), Lumentum Holdings Inc. (LITE), Sea Ltd. (SE), Rigetti Computing Inc. (RGTI). Wednesday (8/13): Brinker International Inc. (EAT), Cisco Systems Inc. (CSCO), Coherent Corp. (COHR), Elbit Systems Inc. (ESLT), Loar Holdings Inc. (LOAR), Performance Food Group Inc. (PFGC), Stantec Inc. (STN). Thursday (8/14): Alibaba Group Holdings Ltd. (BABA), Applied Materials Inc. (AMAT), Deere & Co. (DE), JD.com Inc. (JD), NetEase Inc. (NTES), Nice Ltd. (NICE), SanDisk Corp. (SNDK), Tapestry Inc. (TRP). Friday (8/15): BitFuFu Inc. (FUFU), Flowers Foods Inc. (FLO), So-Young International Inc. (SY).