The Weekend Rip
Happy Weekend!

Markets chopped early in the week as crypto and AI momentum faded, retail earnings rolled in, and traders braced for Powell’s Jackson Hole speech. Midweek selloffs deepened on tariff fears, weak labor data, and FOMC infighting, with tech shedding $1T and retail sentiment cooling. Powell’s Friday pivot toward possible rate cuts sparked a sharp rebound, sending the VIX to a year low and lifting beaten-down prices.

Next week is Nvidia earnings week!

Let's recap and prep you for the week ahead. 📝

◀️ Markets held steady Monday as traders braced for a week of Fed Speak and retail earnings. Palo Alto Networks climbed after hours on strong Q4 results and a $25B CyberArk acquisition announcement. The FOMC faces a pivotal September decision, and JPM’s David Kelly said traditional money supply metrics like M2 have lost relevance. Opendoor surged 39% on retail momentum and technical signals, while Intel slipped despite renewed talk of a 10% government stake via Chips Act grants. Bitcoin fell to $115,200.

🌏️ Markets dipped Tuesday as investors continued to rotate out of high-flying tech and crypto names, signaling a possible momentum pause after a hot summer. Home Depot beat on same-store sales but missed top-line estimates, lifting the Dow as traders bet on a housing rebound. Crypto slid sharply—Bitcoin fell 8% from last week’s highs, Ethereum dropped 13%, and Coinbase led exchange losses. Intel jumped 8% on renewed stake rumors, this time from SoftBank. FOMC minutes loomed, with strategists warning of a September retail pullback after 16 straight weeks of net buying. Oracle cut 10% of its India workforce, Viking’s weight-loss drug disappointed, and Palo Alto surged on strong earnings.

⚡️ Markets extended their slide Wednesday as tech stocks continued to unwind, shedding $1T in value amid growing skepticism around AI ROI and lofty valuations. Retail earnings offered mixed relief: Lowe’s beat and raised guidance, Target posted flat results and announced a CEO change, and Estee Lauder topped revenue estimates. The FOMC minutes revealed a divided committee, with some members pushing for cuts due to labor softness, while others warned of tariff-driven inflation. Futures markets trimmed rate cut odds slightly but still favor a September move. Meanwhile, Trump called for Fed Governor Lisa Cook’s resignation over mortgage fraud allegations, and Bitcoin dipped 1.6% amid ETF outflows.

🐂 Markets sank Thursday as Hurricane Erin hit the East Coast and AI tech stocks extended their losing streak to five days. Walmart beat earnings but warned of tariff-driven price hikes, as new 15% levies on steel, semis, pharma, and aluminum emerged from U.S.–EU trade talks. Fed Speak heated up ahead of Powell’s Friday speech, with FOMC members split: Trump appointees want cuts now, while others cite rising inflation and weak labor data as reasons to hold. Cracker Barrel dropped 7% after unveiling a new logo, sparking backlash over its brand refresh. Meanwhile, Nvidia analysts talked bullish chip demand, Boeing neared a 500-plane deal with China, and Anthropic sought $10B in fresh funding. Bitcoin held near $113,600 as traders braced for Powell’s remarks.

😢 Markets bounced Friday as Jerome Powell’s Jackson Hole speech hinted at rate cuts, sending the VIX to a year low and lifting stocks after a five-day slide. Powell acknowledged rising downside risks from trade and immigration shifts, and while he emphasized data dependence, traders heard “may” as “likely,” especially with unemployment back at 4.2%. Intel climbed after confirming it accepted a 10% stake offer from the U.S. government via Chips Act grants, marking a rare public-private move to shore up domestic chip production. Zoom surged 9% on strong earnings, Apple eyed Gemini AI for Siri, and Waymo secured a permit to deploy robotaxis in NYC. Canada said it will drop 25% tariffs on many U.S. goods starting September 1, while furniture tariffs loom later this year.

🤩 This week's Stocktwits Top 25 showed outperformance vs. the indexes.

Here are the closing prices: 

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THE BRIEF

Need a concise summary of what's going on this week? Look no further. Here’s a rundown of this week’s earnings and economic data.

Earnings This Week

We are reaching the end of earnings season, with just 118 stocks reporting this week. But it’s NVIDIA report week!

Above is a quick summary. Check out the full Stocktwits earnings calendar for the other names reporting this week.

Economic Calendar

It’s a busy week of economic data, with investors focused on inflation data.

In addition to the above, check out this week's complete list of economic releases.

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*

⚠️ Pentagon Has Quietly Blocked Ukraine’s Long-Range Missile Strikes on Russia

😅 Americans aren't drinking anymore. Alcohol giants are scrambling to manage the fallout.

🏘️ Higher tariffs are kicking in. Here’s what Walmart and other retailers said about their impact

💰️ Solar executives warn that Trump attack on renewables will lead to power crunch that spikes electricity prices

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

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