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Dick's Sporting Goods shares fell after it cut its full-year outlook, citing a challenging retail backdrop; the move comes as the Q2 earnings season winds down and Nvidia remains a market focal point, with earnings for S&P 500 companies seen rising about 50% year over year on AI-driven momentum, while investors await updates from other retailers like Dollar Tree and Kohl's.
Memory stocks slid after weekend reports that Washington may allow Apple to source DRAM from CXMT and NAND from YMTC in China ahead of Xi’s U.S. visit. SanDisk fell about 9%, Micron around 7%, and Western Digital about 7% as the Roundhill Memory ETF also declined, signaling broad sector weakness. Analysts characterized the move as an overreaction given CXMT’s limited qualification for Apple products and YMTC’s current domestic allocations, while no formal policy decision has been announced — investors should watch for Xi-visit headlines and potential further gaps in this highly beta group.
US stock futures rose ahead of Nvidia's earnings and the Federal Reserve's Jackson Hole summit, with Dow futures up about 0.4%, S&P 500 futures up 0.5%, and Nasdaq-100 futures up around 1%, as traders await key data (ADP payrolls, new home sales, PMIs) and earnings from INTU, ZM, and DKS. Bitcoin topped $80,000 amid dollar‑driven anxieties from Iran sanctions, while oil crept higher and gold paused after recent rallies as markets prep for the Jackson Hole speech.
Global equities rose modestly as new U.S. sanctions tightened Iran’s economy, contributing to volatility in energy markets (Brent around the high $80s and U.S. crude near $83). Iran’s rial hit a record low, while the U.S. dollar strengthened against the yen and the euro hovered around $1.167, as investors awaited Fed chair Kevin Warsh’s remarks in Jackson Hole for clues on inflation and policy.
Nvidia trades with a forward P/E around 24x, a valuation many see as cheap given its rapid growth, but JPMorgan and other analysts warn that the stock may need a rerating as investors shift from speculative hopes to actual profits. Catalysts for upside include sustained AI-compute leadership, cost-per-token reductions, and potential upside from China GPU shipments, though near-term guidance and cyclical risks remain a consideration ahead of earnings.
Futures were little changed as the S&P 500 and Nasdaq slid on tech weakness ahead of Nvidia’s results and the July inflation print, while the Dow edged higher; Asia markets were weaker and Treasuries eased on talk of expanding long‑dated bond purchases. Investors are bracing for Nvidia’s report, more earnings, the inflation data due this week, and a Jackson Hole speech by Fed Chair Warsh, with UBS advising positions in quality bonds and a touch of gold to weather higher yields.
Jim Cramer, during Mad Money's lightning round, called Palantir 'a great spec' and said he’s sticking with it despite its speculative label, while also weighing views on Rocket Lab, Hawkeye 360, Canadian Natural Resources and IBM.
U.S. stocks closed mixed with the S&P 500 down about 0.3% and the Nasdaq roughly 0.8% lower as memory-chip names fell after reports Nvidia would raise AI server prices, while the Dow edged higher around 0.3%. The move came as officials unveiled expanded Iran sanctions aimed at isolating the country from the dollar system, with Canada–U.S. tariff tensions adding to volatility ahead of Nvidia’s upcoming earnings, which could influence the AI-chip narrative.
Prediction-market traders on Kalshi and Polymarket expect the 10-year Treasury yield to stay around current levels or rise in 2026 rather than fall significantly, despite Treasury Secretary Scott Bessent’s efforts. Kalshi traders assign a 56% chance the 10-year ends 2026 at or above 4.75%, with just a 27% chance above 5%; Polymarket traders put two-in-three odds on the yield crossing 4.8% at some point in 2026. With the yield near 4.7% mid-day and debt surpassing $40 trillion, along with buyback tweaks and potential use of the General Account, traders see any declines as likely temporary.
Prices for Nvidia-powered AI servers have jumped more than 15% as memory costs surge, a move analysts say reflects persistent AI demand and supply tightness. The hike covers Vera Rubin/Grace Blackwell systems, not just Nvidia chips, and could benefit Micron more than Nvidia thanks to its HBM4, SOCAMM2 memory and PCIe storage used in Nvidia’s Vera Rubin ecosystem. With memory allocations tight, the pricing power is likely to pass through the supply chain, and while traders still favor Nvidia as the AI boom’s winner, Micron could see outsized gains from the memory pricing dynamics into 2027–2028.
The Nasdaq and S&P 500 opened lower as semiconductor stocks led the decline, with memory-chip names Sandisk (SNDK) and Micron (MU) among the biggest drags after weekend rumors that Apple could source from CXMT; other chipmakers softened, while consumer staples outperformed and names like Airbnb (ABNB) and Visa (V) rose in early trading.
Stock futures were little changed as U.S.-Canada trade tensions escalated, with new tariffs on Canadian goods taking effect and Canada pledging retaliation, signaling a broader tariff war. Energy prices slipped while bitcoin and gold rose amid rising Treasury yields, and investors looked ahead to Nvidia’s earnings for AI-sector signals and potential Fed guidance at Jackson Hole.
Market turmoil over U.S. debt isn’t cured yet: Treasury’s plan to calm the long‑dated bond market with buybacks and new tools has cooled but not stopped the sell‑off. The 30‑year yield sits around 5.28% and the 10‑year around 4.74% as traders doubt fixes address financing a huge and growing national debt, funded by a multitrillion‑dollar year‑to‑date deficit. Analysts say more steps are coming before November, while tension between Treasury and the Fed at Jackson Hole keeps markets on edge.
Oil prices fell as investors awaited details of the US government’s toughest-ever sanctions campaign against Iran, with WTI around $85.9 and Brent about $93 as Treasury officials prepared to unveil a new package; Iran said it could counter the pressure, while analysts warned volatility could persist and noted a potential Brent range of $70-$100 in H2 2026 depending on Hormuz flow and Tehran’s response.
Stock futures fell modestly as global bond yields climbed to multi-year highs, extending last week’s stock losses. Investors are eyeing the July personal consumption expenditures price index and the Federal Reserve’s Jackson Hole symposium, while Nvidia and Marvell prepare earnings and Nvidia reportedly plans AI-server price hikes. Asia-Pacific markets opened mixed amid the yield backdrop and ongoing geopolitical concerns over Iran.