Dow Jones - 44,946.12 (+0.08%) 

Nasdaq - 21,622.98 (-0.40%)

S&P 500 - 6,449.80 (+0.29%)

• Market Performance: Major U.S. indices showed mixed performance, consolidating after a week packed with economic data, with Mega Cap stocks driving much of the upward momentum.
• Two Weeks in a Row: The S&P 500 and the NASDAQ climbed around 1%, recording their second positive week.
• Opendoor Leadership: CEO Carrie Wheeler stepped down; Shrisha Radhakrishna named interim leader.
• Berkshire Hathaway Moves: Berkshire Hathaway bought UnitedHealth shares, trimmed Apple holdings, and increased stakes in homebuilders.
• Intel Investment: Trump administration is reportedly considering a direct stake in Intel to boost U.S. chip manufacturing.
• Retail Sales: U.S. retail sales rose 0.5% in July, marking the second consecutive monthly gain.
• Tariff News: Trump signaled semiconductor tariffs could reach 300%, with pharmaceutical imports also targeted.
• Oil Prices: Oil fell nearly $1 on Friday as traders awaited discussions between Trump and Russian President Vladimir Putin.
• Trump-Putin Summit: Alaska summit ended with no agreement, though Trump called talks “very productive.” He will meet Ukrainian President Zelenskyy on Monday.
• Crypto Oversight: Federal Reserve is ending a Biden-era oversight program on banks’ crypto activities.
• Bitcoin dropped. The price of Bitcoin topped the $124,000 level on Thursday, but it fell back to around $118,000 later in the day and was trading around $117,000 on Friday afternoon. On a year-to-date basis, Bitcoin was up nearly 26%.
• Gold Prices: Gold held steady on Friday but were set for a weekly loss after hot inflation data trimmed rate-cut expectations.
• Fed Rate Expectations: CME FedWatch Tool shows a 93% probability of a Fed rate cut next month and 7% odds of no change.
• Treasury & Fed Views: Treasury Secretary Bessent called for a 50 bps cut in September and 150 bps total for 2025; San Francisco Fed President Daly pushed back, citing solid fundamentals.
• UnitedHealth (UNH): Rallied 13% after Berkshire Hathaway disclosed a five-million-share stake, lifting the iShares U.S. Healthcare Providers ETF nearly 4%—its strongest one-day gain since July 2024.
• Eli Lilly (LLY): Advanced after Bloomberg reported a 170% price increase for its U.K. obesity drug.
• Intel (INTC): Surged on news of a potential government stake using CHIPS Act funds, days after Trump demanded the CEO resign.
• Applied Materials (AMAT): Slipped after issuing a weaker-than-expected outlook.
• Sandisk: Fell due to a sharp year-over-year margin decline.
• Salesforce (CRM): Gained following an upgrade to Neutral from Underperform at DA Davidson.
• Chipotle (CMG): Climbed more than 5% week to date, poised to end a five-week losing streak.
• Cava (CAVA): Tumbled over 18%, putting the chain on pace for its worst week ever.
• Target (TGT): Slid nearly 2% after Bank of America downgraded it to Underperform, cut its price target, and highlighted the end of its Ulta Beauty partnership.
• Miami International Holdings (MIAX): Jumped 38% from its IPO price in the first major U.S. financial exchange listing in 15 years.
• Circle Internet Group (CRCL): Priced its 10-million-share offering at $130, following its first public earnings report.
• Next Week: Investors and economists will turn their attention to the Rocky Mountain town of Jackson Hole, Wyoming, where the U.S. Federal Reserve will hold its annual three-day economic policy symposium beginning Thursday, August 21.

• Intel (INTC) 
• UnitedHealth Group (UNH)
• Target (TGT)
• Circle Internet Group (CRCL)
• Bullish (BLSH)

Biggest Gainers

• Sunrun, Inc. (RUN) +32.82%
• Nextracker, Inc. (NXT) +12.21%
• UnitedHealth Group (UNH) +11.98%
• First Solar, Inc. (FSLR) +11.05%
• Bausch Health Companies, Inc. (BHC) +11.05%

Biggest Losers

• Newegg Commerce (NEGG) -21.13%
• Globant S.A. (GLOB) -14.93%
• Applied Materials (AMAT) -14.07%
• Tonix Pharmaceuticals (TNXP) -13.81%
• KLA Corp. (KLAC) -8.42%

Weekly Notables  

Opendoor Stock Rises as CEO Carrie Wheeler Exits, Interim Chief Named

Opendoor Technologies (OPEN) shares jumped up to 8% Friday after CEO Carrie Wheeler stepped down effective immediately. Chief technology and product officer Shrisha Radhakrishna will serve as interim leader while the board searches for a permanent replacement. Wheeler, who became CEO in late 2022 after co-founder Eric Wu, had faced growing pressure from investors, including EMJ Capital’s Eric Jackson and co-founder Keith Rabois, who questioned her leadership. The shake-up comes just a week after a steep post-earnings selloff.

Berkshire Adds UnitedHealth, Trims Apple, and Boosts Homebuilder Bets

Berkshire Hathaway disclosed a $1.6 billion stake in UnitedHealth Group, sending the stock up significantly in the two days. The stock was the best performing stock in the S&P 500 on Friday. The move unmderscores Warren Buffett’s continued interest in healthcare, even as UnitedHealth faces rising costs, a DOJ probe, and fallout from a major cyberattack. At the same time, Berkshire sold 20 million Apple shares—its first trim since 2024—while adding to homebuilder holdings with new stakes in DR Horton and a larger position in Lennar. Additional buys included Allegion, Lamar Advertising, and Nucor, while Berkshire exited T-Mobile and reduced Bank of America.

The Week Ahead

• Potential market moving catalysts this week: Monday (8/18): NAHB Housing Market Index. Tuesday (8/19): Housing Starts, Building Permits. Wednesday (8/20): Fed Minutes, MBA Mortgage Applications Index. Thursday (8/21): Continuing Claims, Initial Claims, Philly Fed, S&P Global Manufacturing and Services PMIs, Leading Index, Existing Home Sales. Friday (8/22): -nothing-
• Earnings: Monday (8/18): Bitdeer Technologies Group (BTDR), Polestar Automotive Holdings (PSNY), Palo Alto Networks Inc. (PANW), Fabrinet (FN), XP Inc. (XP). Tuesday (8/19): Home Depot Inc. (HD), Medtronic PLC (MDT), Viking Holdings. (VIK), American Sports Inc. (AS), Xpeng Inc. (XPEV), Keysight Technologies Inc. (KEYS), ZTO Express (ZTO), Toll Brothers Inc. (TOL). Wednesday (8/20): TJX Companies Inc. (TJX), Lowes Companies Inc. (LOW), Analog Devices Inc. (ADI), Target Corp. (TGT), Estee Lauder Companies Inc. (EL), Baidu Inc. (BIDU), Futu Holdings Ltd. (FUTU). Thursday (8/21): Walmart Inc. (WMT), Intuit Inc. (INTU), Workday Inc. (WDAY), Ross Stores Inc. (ROST), Zoom Communications Inc. (ZM). Friday (8/22): Alibaba Group Holding (BABA), Gold Fields Ltd. (GFI), Ubiquiti Inc. (UI) BJ’s Wholesale Club Holdings Inc. (BJ).