Presented by

CLOSING BELL
Sell Off Keeps Going

The market fell Wednesday, as tech stocks sold off. Traders told WSJ that aside from seasonal August weakness, the market was taking a chill pill after a record run pushed by retail investors that had not stopped buying since April lows.

Speaking of retail, big store results continued: Target shares fell after flat sales and a new CEO, Lowe’s climbed after a boosted outlook. In macro, President Trump said another Fed chair should get the boot after his housing-finance chief accused Governor Lisa Cook of fraud. The FOMC meeting minutes showed a committee divided over when and how to cut rates in the face of higher tariff prices. 👀

Today's issue covers: Latest from retail earnings, FOMC meeting minutes show conflicting data points, and more. 📰

With the final numbers for indexes and the ETFs that track them, 7 of 11 sectors closed green, with energy $XLE ( ▲ 0.84% ) leading and discretionary $XLY ( ▼ 0.99% ) lagging.

$SPY ( ▼ 0.27% )  $QQQ ( ▼ 0.59% ) $IWM ( ▼ 0.35% )  $DIA ( ▲ 0.02% ) 

EARNINGS
Retail Giants Record Mostly Beats As Tech Falls 🛍️ 

The tech-led selloff continued Wednesday for the fourth session. Bloomberg data showed the S&P 500 has lost $1T, mostly from tech names like Nvidia, Broadcom, Meta, Microsoft, and the like. An MIT study last week cast doubt on AI’s use in companies, finding 95% of firms found no return from AI spending, according to the Financial Times.

In light of that sell-off, retail company earnings kept printing, as investors hope for signs of revenue growth and positive consumer demand:

$LOW ( ▲ 0.3% ) Lowe's reported Q3 2025 sales of $23.96 billion (est. $23.95B) and EPS of $4.33 (est. $4.24), with full-year sales expected to be in the range of $84.5B to $85.5B and adjusted diluted EPS of approximately $12.20 to $12.45.

$TGT ( ▼ 6.33% ) Target's Q2 '25 adjusted EPS was $2.05, basically in line, while sales revenue came in above estimates at $25.21B. The company anticipates a low single-digit decline in comparable sales for the full year. It was a flat quarter growth-wise, but a leadership change sent the stock lower. The retailer announced that longtime veteran COO Michael Fiddelke will succeed CEO Brian Cornell in February, disappointing investors who were hoping for an external hire.

$EL ( ▼ 3.67% ) Estee Lauder Companies reported a Q4 EPS of $0.09, basically in line, and a rev of $3.41B, above estimates. The firm expects to see positive growth in fiscal year 2026 outside of travel retail and is focused on improving consumer acquisition.

$TJX ( ▲ 2.71% ) TJX Companies jumped after a Q2 beat and raised FY guidance, with EPS now forecast at $4.52–$4.57 vs. prior $4.34–$4.43. Retail sentiment flipped to “extremely bullish” as message volume surged. 😅 

SPONSORED
Galaxy Closes $1.4B Project Financing Facility for Helios AI Datacenter

Galaxy is building one of the largest and most advanced AI datacenter campuses in the world at its Helios site in West Texas, meeting surging demand for scalable, power-ready infrastructure.

Galaxy recently announced the closing of a $1.4 billion project financing facility to fully fund the initial retrofit and expansion of Helios. This milestone supports
Galaxy's long-term agreement with CoreWeave, with the first phase of power for AI and high-performance computing operations to be delivered beginning in early 2026.

With CoreWeave now committed to the full 800 MW of approved power capacity at Helios, Galaxy expects to generate average annual revenue of more than $1 billion over the 15-year term of the agreements.

This post, and the information contained herein, has been provided to you solely for informational purposes. Neither the information, nor any opinion contained in this post, constitutes an offer to buy or sell, or a solicitation of an offer to buy or sell, any securities or other financial instruments or to participate in any advisory services or trading strategy. Nothing contained in this post constitutes investment, legal or tax advice. You should make your own investigations and evaluations of the information herein. Any decisions based on information contained in this post are the sole responsibility of the viewer. None of Galaxy Digital nor any of its affiliates, shareholders, partners, members, directors, officers, management, employees or representatives makes any representation or warranty, express or implied, as to the accuracy or completeness of any of the information or any other information (whether communicated in written or oral form) transmitted or made available to you. Each of the aforementioned parties expressly disclaims any and all liability relating to or resulting from the use of this information. Certain information contained herein (including financial information) may have been obtained from published and non-published sources. Such information has not been independently verified. Galaxy Digital and its affiliates may buy, sell or hold investments in some of the companies, digital assets or protocols discussed in this post. Except where otherwise indicated, the information in this post is based on matters as they exist as of the date of preparation and not as of any future date, and will not be updated or otherwise revised to reflect information that subsequently becomes available, or circumstances existing or changes occurring after the date hereof.

*3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here.

MACRO NEWS
To Cut Or Not To Cut: July FOMC Meeting Has Few Answers ✂️ 

The market picked through the FOMC minutes summary from the two-day closed-door monetary policy meeting three weeks ago for any sign that the target Federal Funds rate would change soon.

The FOMC last met before the past three months of labor market figures were cut massively at the start of August, and before PPI data showed the fastest uptick in wholesale prices since 2023.

Still, the publication gave investors something to chew on: the FOMC is balancing opinions on labor slowdowns against fears tariff inflation may push all prices higher. Stagg found PCE inflation from June was still at 2.5%, no longer falling but instead held up by tariff price increases, the minutes recorded.

On the labor side, conditions were broadly solid, unemployment was at 4.1% and employment was near full capacity.

Equity prices were doing great, the report found, even if inflation was harder to read. Some members said companies would struggle to not pass on tariff price climbs, and employment would suffer. Higher tariff pressures also meant that it would be harder to read if price climbs were from taxes or actual inflation pressures.

Two governors, Christopher Waller and Michelle Bowman, voted that the committee should cut, pointing to slowing labor markets, but the group ultimately chose to keep rates the same, worried more about raising inflation than slowing jobs. Multiple members said there was a lot to learn about the effect of higher tariffs on inflation in the coming months.

The futures and betting markets were undaunted by the three-week-old minutes, cutting back expectations of a cut by about 10%, but still highly favoring a Sept. drop in rates to 400-425 basis points.

SPONSORED
7 Mistakes People Make When Choosing a Financial Advisor

Working with a financial advisor can be a crucial part of any healthy retirement plan.

In fact, SmartAsset’s latest proprietary model reveals that working with a financial advisor could potentially add from 36% to 212% more dollar value to investors' portfolios over a lifetime, depending on multiple unique, individual factors.¹

But choosing the wrong one could wreak havoc. Avoiding these 7 mistakes people make when hiring an advisor could potentially help save you years of stress. See the list.

Interested in finding a financial advisor? SmartAsset's no-cost tool can help you find and compare vetted fiduciary advisors serving your area. All advisors on the platform have been rigorously screened through a proprietary due diligence process and are legally bound to work in your best interest.

This is a hypothetical example and is not representative of any specific security. Actual results when working with a financial advisor will vary. *3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here.

POPS & DROPS
Top Stocktwits News Stories 🗞️ 

Delta and United Airlines shares dipped after lawsuits alleged misleading “window seat” labeling, with passengers claiming they paid for views but got blank walls.

Hertz rebounded after announcing a collaboration with Amazon Autos to sell pre-owned vehicles online, sparking a surge in retail sentiment and message volume.

Trump Says Fed's Lisa Cook Must Resign after a Bloomberg report alleged misconduct involving two mortgages, prompting calls for an investigation by the Federal Housing Finance Agency.

A Bitcoin Selloff triggered a 1.6% drop in total crypto market cap to $3.91 trillion, with Cardano and XRP leading losses amid ETF outflows and tightening liquidity.

Upstart Holdings surged 60% over the past year after JPMorgan upgraded the AI-driven lending platform to “Overweight,” citing improved credit conditions and fintech sector momentum.

Don’t miss a story! Follow @StocktwitsNews for a live feed in real time. ✍️ 

PRESENTED BY STOCKTWITS
Cem Karsan Explains the Bubble, Volatility, and Market Risk Ahead

Ben Cahn @benandemilshow‬ is joined by Cem Karsan @Kai-Media‬ for a special Tuesday edition of Weekend Rip. Not our usual Friday hangout, but hey — it’s Taco Tuesday.

Links That Don’t Suck 🌐

🤩 IBD is offering exclusive ticket packages to their biggest investing workshop of the year featuring Mark Minervini, Charles Harris and more*

📂 Tech, chip stock sell-off continues as AI bubble fears mount

📺️ Palantir stock plummets 20% from highs in longest losing streak since April 2024

⚠️ OpenAI logged its first $1 billion month but is still ‘constantly under compute,’ CFO says

😨 Intel in talks with other large investors for equity boost at discount, sources say

👀 Trump housing regulator Pulte says Fed’s Cook should resign or be fired, alleging mortgage fraud

*3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here.

WHAT’S ON DECK
Tomorrow’s Top Things 📋

Economic data: FOMC Member Bostic Speaks (7:30 AM), Initial Jobless Claims (8:30 AM), Philadelphia Fed Manufacturing Index (8:30 AM), S&P Global PMI (9:45 AM), Existing Home Sales (10:00 AM), 30-Year TIPS Auction (1:00 PM), Jackson Hole Symposium (8:00 PM) 📊

Pre-Market Earnings:Walmart ($WMT), Canadian Solar ($CSIQ), Bilibili ($BILI), SelectQuote ($SLQT)  🛏️

After-Hour Earnings: Zoom Video Comms ($ZM), Workday ($WDAY), Intuit ($INTU), Ross Stores ($ROST) 🎧

P.S. You can listen to all of these earnings calls and more straight from the Stocktwits app or website. You’ll find them on the calendar page and individual symbol pages once they’re set to begin! We’ll see you there. 👍

Get In Touch 📬

Follow our social channels for great, real-time content on Stocktwits and Twitter. And check out our YouTube channel for in-depth video content! 📲

Help us deliver the best content possible by completing this brief survey. 📝

Want to see some change? Email me, Kevin Travers, your feedback; follow me on Stocktwits. What did I miss? What do you want to see? I’d love to hear from you. 📧 

Want to sponsor this newsletter and reach hundreds of thousands of passionate investors and traders? Reach us here. 

Terms & Conditions 📝

Securities Disclaimer: STOCKTWITS IS NOT A TAX ADVISOR, BROKER, FINANCIAL ADVISOR OR INVESTMENT ADVISOR. THE SERVICE IS NOT INTENDED TO PROVIDE TAX, LEGAL, FINANCIAL OR INVESTMENT ADVICE, AND NOTHING ON THE SERVICE SHOULD BE CONSTRUED AS AN OFFER TO SELL, A SOLICITATION OF AN OFFER TO BUY, OR A RECOMMENDATION FOR ANY SECURITY. Trading in such securities can result in immediate and substantial losses of the capital invested. You should only invest risk capital, and not capital required for other purposes. You alone are solely responsible for determining whether any investment, security or strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. You should also consult an attorney or tax professional regarding your specific legal or tax situation. The Content is to be used for informational and entertainment purposes only and the Service does not provide investment advice for any individual. Stocktwits, its affiliates and partners specifically disclaim any and all liability or loss arising out of any action taken in reliance on Content, including but not limited to market value or other loss on the sale or purchase of any company, property, product, service, security, instrument, or any other matter. You understand that an investment in any security is subject to a number of risks, and that discussions of any security published on the Service will not contain a list or description of relevant risk factors. In addition, please note that some of the stocks about which Content is published on the Service have a low market capitalization and/or insufficient public float. Such stocks are subject to more risk than stocks of larger companies, including greater volatility, lower liquidity and less publicly available information. Read the full terms & conditions here. 🔍

Author Disclosure: The author of this newsletter does not hold positions in any of the securities or assets mentioned. 📋