Market Summary
Equities are holding modest midday gains on Tuesday, August 25, with the S&P 500 up 20.43 points (+0.27%) to 7673.29, the Nasdaq Composite outperforming with a gain of 151.94 points (+0.58%) to 26153.17, and the Dow Jones Industrial Average adding 98.48 points (+0.18%) to 53515.64. The advance follows Monday’s mixed close, in which semiconductor weakness dragged the S&P 500 and Nasdaq lower while a broader rotation into value areas lifted the DJIA.
The dominant theme today is a recovery in semiconductor stocks after last week’s pronounced selloff. The PHLX Semiconductor Index is up roughly 1.5% at midday, powering the information technology sector higher and helping NVIDIA (NVDA) snap a seven-session losing streak ahead of its Wednesday after-the-close earnings report. That strength has come with a rotational cost: yesterday’s leaders — consumer staples, financials, and real estate — are giving back gains today, and the energy sector is under pressure as oil prices continue to slide. Treasury yields are also lower across the curve, providing a supportive backdrop for equities even as soft economic data (weaker Consumer Confidence and New Home Sales) tempered morning enthusiasm.
Adding to the day’s headlines, Canada announced C$27.6 billion in retaliatory tariffs on U.S. goods effective September 8, matching recent U.S. tariff measures dollar-for-dollar across steel, dairy, appliances, agricultural equipment, pulp/paper, and electronics — a development that has not yet triggered a material market reaction but bears watching into the close.
Market Snapshot
| Index | Level | Change | % Change |
|—|—|—|—|
| Dow Jones | 53,515.64 | +98.48 | +0.18% |
| Nasdaq Composite | 26,153.17 | +151.94 | +0.58% |
| S&P 500 | 7,673.29 | +20.43 | +0.27% |
Breadth:
- NYSE: Advancers 1,344 / Decliners 1,277 | Volume: 206.69 mln
- Nasdaq: Advancers 2,579 / Decliners 1,599 | Volume: 4.0 bln
WaveFinder Breadth Indicators:
- Primary Sentiment: Very Bullish (Bulls 1,172 / Bears 760)
- 4% Sentiment: Bullish (Bulls 169 / Bears 40)
- 40 SMA Sentiment: Neutral
- Stocks Above 20-day SMA: 50.0%
- Stocks Above 40-day SMA: 50.17%
- 9-Month Bulls/Bears: 22 / 2 (Bull Follow-Through: 54.55%)
Sector Performance
Strong (per Briefing.com Industry Watch):
1. Information Technology — +0.8% (sector level); PHLX Semiconductor Index +1.5% intraday; ATR -1.02% (falling, P37)
2. Health Care — Outperforming; ATR 3.31% (rising, P89)
3. Communication Services — Outperforming; ATR 3.22% (rising, P100)
Neutral / Not flagged in Industry Watch:
4. Industrials — ATR -1.31% (falling, P0)
5. Consumer Discretionary — ATR 0.37% (flat, P16)
6. Utilities — ATR -2.19% (falling, P5)
Weak (per Briefing.com Industry Watch):
7. Consumer Staples — -1.0%; ATR 0.87% (rising, P63)
8. Financials — Underperforming; ATR 1.12% (falling, P47)
9. Energy — -0.7% (tracking oil weakness); ATR 2.39% (rising, P68)
10. Materials — Underperforming; ATR 1.12% (rising, P37)
11. Real Estate — Underperforming; ATR -0.10% (flat, P58)
Key Earnings & Movers
- Advanced Micro Devices (AMD) — $478.52, +21.78 (+4.77%): Standout gainer among large-cap chipmakers amid the broad semiconductor rebound.
- NVIDIA (NVDA) — $211.10, +2.62 (+1.26%): On track to snap a seven-session losing streak; reports earnings Wednesday after the close.
- Dick’s Sporting Goods (DKS) — $130.68, -48.66 (-27.13%): Sharply lower after missing Q2 EPS and revenue expectations and cutting full-year profitability guidance, driven by deteriorating Foot Locker segment performance.
- Anavex Life Sciences (AVXL) — Higher on Q3 update highlighting submission of completed Alzheimer’s clinical-trial data to its IND and progress across Rett syndrome and Fragile X programs; reported $118.3 mln cash, funding operations into mid-to-late FY28.
- Navitas Semiconductor (NVTS) — Higher after announcing acquisition of Claros (power management/AI data-center technology) valued at up to $232.8 mln, part of its “Navitas 2.0” strategic pivot toward AI infrastructure.
After-Hours Movers (Monday, 8/24):
- Gorilla Technology Group (GRRR) -10.6% despite raising FY26 revenue guidance, on soft FY27 guide
- REAX Real REMAX Group +7.9% on new $450 mln buyback authorization
- Parker-Hannifin (PH) +3.0% on mixed shelf filing
- The Trade Desk (TTD) -1.1% on mixed shelf filing
- Grand Canyon Education (LOPE) -1.5% after placing CFO on administrative leave
Stock Spotlight
The session’s most significant single-stock move belongs to Dick’s Sporting Goods (DKS), which cratered 27.13% to $130.68 after missing FactSet’s Q2 EPS and revenue estimates. The bigger concern for investors is a material reset to full-year profitability expectations, driven by worsening conditions in athletic footwear and apparel that are weighing heavily on the company’s Foot Locker acquisition. The report suggests Foot Locker’s turnaround has become far less predictable, hostage to external footwear cycles rather than internal execution.
While Fast Break store conversions and inventory optimization continue to show promise, those initiatives were not sufficient to offset fewer product launches, soft retro sneaker demand, and industry-wide discounting pressures. Compounding the issue, DKS also lowered its core segment’s operating-income outlook despite maintaining its comparable-sales forecast — signaling that defending market share may require sacrificing margin. The investment debate now centers on how long DKS’s stronger core franchise must subsidize a loss-making acquired business, with upcoming results needing to show Foot Locker comps approaching flat, continued Fast Break outperformance, and a credible path back to segment profitability.
Bond Market & Treasuries
Treasuries are firmer across the curve, extending Monday’s gains, with yields near session lows at midday.
Yield Check (as of ~10:52 ET):
- 2-yr: 4.20% (-4 bps)
- 3-yr: 4.26% (-4 bps)
- 5-yr: 4.36% (-5 bps)
- 10-yr: 4.65% (-5 bps) — later quoted at 4.653% (+11/32) as of 11:14 ET
- 30-yr: 5.19% (-4 bps), dipping past last week’s low (5.183%)
Key drivers: Weaker-than-expected Consumer Confidence (89.4 vs. 90.6 consensus) and softer New Home Sales (607,000 vs. 620,000 consensus) reinforced the bid for Treasuries. The market awaits results of today’s $69 billion 2-year note auction at 13:00 ET — the prior 2-yr auction produced a high yield of 4.315%, bid-to-cover of 2.66, and indirect bid of 56.6% (vs. 12-auction averages of 3.782%, 2.61x, and 57.6%, respectively). Growing criticism of the Treasury’s updated buyback plans continues to draw scrutiny, with Stanley Druckenmiller publishing a WSJ op-ed calling the move a mistake.
Commodities
(Most recent full data set from Monday, 8/24 settlement; oil noted to be extending losses into Tuesday’s session per Briefing.com commentary.)
- Crude Oil (WTI): $84.98/bbl, -$2.09 (-2.4%) Monday settlement; falling toward $82/bbl in Tuesday premarket trade and continuing lower at midday
- Natural Gas: $2.83, +$0.06
- Gold: $4,695.00/oz, +$14.90
- Silver: $68.57/oz, -$0.99
- Copper: $6.60/lb, +$0.01
Overseas Markets
Europe (Monday close): DAX -0.1%, FTSE +0.4%, CAC -0.4%
Asia (Monday close): Nikkei -0.7%, Hang Seng -1.9%, Shanghai -0.6%
Overnight/Tuesday developments: European markets traded mostly positive overnight, aided by an upward revision to Germany’s Q2 GDP (to 0.3% from 0.2%) and an above-consensus German ifo Business Climate Index (88.8 vs. 87.2 expected), signaling incremental improvement in Germany’s economy. In Asia, China’s Chengdu eased local housing rules and lowered minimum down payment requirements; the Reserve Bank of Australia’s policy minutes showed readiness to hike rates if upside risks materialize.
Economic Data
- Consumer Confidence Index (August): 89.4 vs. 90.6 consensus, down from a revised 90.2 (from 90.8) in July; a year ago the index stood at 97.8. Decline driven by a worsening Expectations Index, partially offset by a rebound in the Present Situation Index after three months of deterioration.
- New Home Sales (July): 607,000 SAAR vs. 620,000 consensus, down 10.5% m/m from a revised 678,000 (from 628,000) in June; down 6.3% y/y. Regional variation was significant, and rising months’ supply could pressure home prices going forward.
- Germany Q2 GDP: Revised up to 0.3% from 0.2%
- German ifo Business Climate Index (August): 88.8 vs. 87.2 expected
Both weaker domestic data points reinforced the bid in Treasuries and contributed to a modest fade in early equity gains before the semiconductor-led rebound took hold.
Looking Ahead
- 13:00 ET Today: Results of the $69 billion 2-year Treasury note auction
- Wednesday after close: NVIDIA (NVDA) earnings report — a key catalyst for the semiconductor sector following its recent volatility
- September 8: Canada’s retaliatory tariffs (15%–50%) on U.S. goods take effect, targeting steel, dairy, appliances, agricultural equipment, pulp/paper, and electronics
- This week: Treasury Secretary Bessent has signaled a major financial institution will be sanctioned by week’s end as part of “Operation Economic Outcast” targeting Iran-linked entities
- Ongoing scrutiny of the Treasury’s buyback plan changes and their impact on longer-tenor yields