S&P 500 – 6,466.91 (+1.52%)

Dow Jones – 45,631.74 (+1.89%)

NASDAQ – 21,496.54 (+1.88%)

• Stocks Surge on Rate-Cut Hopes: S&P 500 +1.52% (6,466.91), Dow +1.89% (45,631.74), Nasdaq +1.88% (21,496.54) after Powell signals possible September Fed cut.
• Momentum Builds: Broad buying across tech, consumer, and growth stocks fueled by dovish Fed outlook.
• Powell Signals September Cut: Fed Chair opens door to rate reduction; markets react with Treasury yields falling.
• Inflation Focus: Fed now targeting 2% directly; Core PCE expected to rise to 2.9% in July.
• Labor Market Challenges: July jobs +73,000; prior months revised down by 250,000; three-month average only 35,000. Jobless claims rose to 235,000; continuing claims at 1.97M—the highest since Nov 2021.
• Housing Weakness: July building permits fell for fourth straight month.
• FOMC Minutes: Inflation remains a top concern; weaker payrolls push dovish commentary. CME FedWatch sees 79% chance of a September rate cut; multiple governors voted against a rate decision for first time in 30+ years.
• Intel Investment: U.S. government buys 9.9% stake ($8.9B) in Intel; strengthens domestic chip production.
• TikTok Delay: Trump extends U.S. ban deadline, citing ongoing negotiations with American buyers.
• Trump & Renewable Energy: Former President says he will not approve solar or wind projects, impacting clean energy stocks.
• Fed Controversy: Trump demanded resignation of Fed Governor Lisa Cook over alleged mortgage fraud; DOJ investigation underway.
• Meta Hypernova Launch: Smart glasses with display and neural wristband debut at Connect; step toward full AR adoption.
• Apple September Event: iPhone 17, iPhone Air, Apple Watch Ultra 3, and AirPods expected Sept. 9 with new designs and health features.
• Apple AI Upgrade: Google’s Gemini AI may integrate into Siri for smarter assistant features.
• Microsoft & NFL: Multiyear tech partnership extension to integrate AI into on-field and operational aspects of professional football.
• Gold Rebounds: Supported by expectations for Fed rate cut.
• Oil Edges Higher: WTI at $63, trading in a narrow $62–$65 range; Brent +2.9% weekly.
• Crypto Mixed: Ethereum +8.6%, Bitcoin +2.7%; crypto-linked stocks like MicroStrategy, Coinbase, and Circle fell early Thursday.
• Opendoor +20%: Rate-cut optimism revives iBuyer demand.
• Nio +5%: New ES8 SUV drives U.S.-listed premarket gains.
• BJ’s Wholesale -8%: Fuel costs pressure Q2 revenue.
• Intuit -6%: Revenue guidance below expectations.
• Nvidia: H20 AI chip production paused; follow-up product in progress.
• Ross Stores: EPS beat; Q3 guidance slightly below consensus.
• Starbucks: Partial stake bids in China expected; company not selling entire operation.
• Boeing +1.2%: Potential deals to sell up to 500 planes to China reported by Bloomberg.
• Instacart -2%: Wedbush downgrade to Underperform.
• Nordson +5%: Beats earnings expectations.
• Coty -20%: Wider-than-expected adjusted loss.
• HP Enterprise +2% (pre-market): Morgan Stanley upgrade to Overweight.
• Cracker Barrel -11%: Logo overhaul removes iconic barrel for first time in nearly 50 years.
• Disney: Launches ESPN streaming platform offering full access without cable bundle.
• Economic Calendar: Core PCE, personal income & spending, GDP, jobless claims, home sales, consumer sentiment.
• Earnings Spotlight: Nvidia Q2, multiple consumer, tech, and financial companies reporting.
• Market Outlook: Rate-cut expectations vs. inflation data; AI chip sales to China; cloud spending trends; Nvidia H20 revenue-sharing updates closely monitored.

• Target (TGT)
• Intel (INTC)
  Meta Platforms (META)
• Opendoor (OPEN)
• Microsoft (MSFT)

Biggest Gainers

• Opendoor Technologies (OPEN) +39.17%
• Ubiquiti, Inc. (UI) +30.64%
• MINISO Group Holdings (MNSO) +20.12%
• RXO, Inc. (RXO) +15.44%
• Nio, Inc. (NIO) +14.44%

Biggest Losers

• Newegg Commerce (NEGG) -12.98%
• BJ’s Wholesale Club Holdings (BJ) -8.52%
• Intuit, Inc. (INTU) -5.03%
• Duolingo, Inc. (DUOL) -3.95%
• CSX Corp. (CSX) -3.60%

Weekly Notables 

Intel Gets $8.9B U.S. Investment as Government Takes 9.9% Stake

The U.S. government has purchased a 9.9% stake in Intel (INTC), investing $8.9 billion through the acquisition of 433.3 million shares at $20.47 each. The passive investment comes with no Board representation or governance rights, and the government agreed to vote with Intel’s Board. Funding includes $5.7 billion in unpaid CHIPS Act grants and $3.2 billion from the Secure Enclave program. Combined with $2.2 billion in prior CHIPS grants, total U.S. support for Intel now stands at $11.1 billion. Intel reaffirmed its Secure Enclave commitments to the Department of Defense, emphasizing its role in producing secure semiconductors.

Meta to Launch ‘Hypernova’ Smart Glasses with Display, Wristband at Connect

Meta will debut two new smart glasses at its Connect conference in September, including its first consumer model with a display. Codenamed Hypernova, the $800 glasses feature a small color display in the right lens and will be sold with EssilorLuxottica, parent of Ray-Ban and Prada.

The glasses will allow users to view notifications, take photos and videos, make calls, send messages, play audio, and interact with an AI assistant. Meta will also launch a wristband powered by its CTRL Labs technology, which uses neural signals from hand movements for gesture control—seen as a step toward full AR glasses.

The Week Ahead

• Potential market moving catalysts this week: Monday (Aug. 25): New Home Sales, Dallas Fed, Building Permits. Tuesday (Aug. 26): Philly Fed, Durable Goods, Consumer Confidence. Wednesday Aug. 27): MBA Mortgage Applications Index. Thursday (Aug. 28): Continuing Claims, Initial Claims, GDP, Pending Home Sales. Friday (Aug. 29): Personal Consumption Expenditures, Personal Income, Personal Spending, U Mich Consumer Sentiment.
   
• Earnings: Monday (Aug. 25): PDD Holdings Inc. (PDD), Heico Corp. (HEI). Tuesday (Aug. 26): Bank of Montreal (BMO), KE Holdings Inc. (BEKE), MongoDB Inc. (MDB), Okta Inc. (OKTA), BOX Inc. (BOX), PVH Corp. (PVH), JOYY Inc. (JOYY). Wednesday (Aug. 27): Williams-Sonoma Inc. (WSM), JM Smucker Co. (SJM), Abercrombie & Fitch Co. (ANF), Foot Locker Inc. (FL), Kohl's Corp. (KSS), Nvidia Corp. (NVDA), CrowdStrike Holdings Inc. (CRWD), Snowflake, Inc. (SNOW). Thursday (Aug. 28): Toronto-Dominion Bank (TD), Dollar General Corp. (DG), DICK's Sporting Goods Inc. (DKS), Burlington Stores Inc. (BURL), Dell Technologies, Inc. (DELL), Marvell Technology Inc. (MRVL), Autodesk Inc. (ADSK), Affirm Holding Inc. (AFRM), Ulta Beauty Inc. (ULTA). Friday (Aug. 29): Alibaba Group Holding (BABA), Frontline Plc (FRO).