Forget the Fed drama, Nvidia's earnings are everything today.
Week Ending August 29th, 2025
Tuesday's Market Moves
S&P 500 – 6,465.94(+0.41%)
Dow Jones – 45,418.07 (+0.30%)
NASDAQ – 21,544.27 (+0.44%)
Weekly Recap
Markets – The S&P 500 closed higher Tuesday as investors shrugged off Trump's removal of Fed Governor Lisa Cook and looked ahead to Nvidia's earnings.
Federal Reserve – Trump moved to oust Fed Governor Lisa Cook, who has refused to resign.
Telecom & Wireless – EchoStar surged 65% after agreeing to sell spectrum licenses to AT&T for $23 billion.
Beverages & Consumer Goods – Keurig Dr Pepper will acquire JDE Peet's for $18.4 billion, creating a coffee and soft drinks powerhouse. Constellation Brands dropped 3% after a downgrade to Underperform and a lower price target.
Trade Policy – Trump floated new tariffs on imported furniture, rattling U.S. home goods stocks.
Crypto & Media – Trump Media announced a $1 billion partnership with Crypto.com, expanding its digital assets footprint. Ether set a fresh record over the weekend, its first all-time high since 2021. Bitcoin weakness dragged Circle, Coinbase, and MicroStrategy lower; BofA cited broad crypto outflows.
Commodities – Gold prices hovered near record highs as traders awaited U.S. PCE data, with a stronger dollar limiting gains.
Economic Outlook – A survey of 159 economists found that most believe Trump's economic policies raise risks of recession and inflation.
Technology & Trade – Trump vowed tariffs and export controls on chips and tech from countries taxing U.S. digital services.
Housing Market – U.S. new-home sales declined in July, pointing to ongoing weakness under high mortgage rates.
Consumer Sentiment – The Conference Board's confidence index fell to 97.4 in August; expectations slipped below 80, signaling recession risk.
Restaurants – Cracker Barrel rose 5% after Trump urged the chain to drop its new logo.
Semiconductors – Intel gained after the government revealed a 10% stake; Nvidia edged higher ahead of results. AMD climbed after Truist upgraded the stock to Buy, citing hyperscale adoption. Semtech surged 17% on strong Q2 results and upbeat Q3 guidance.
Furniture Retail – Wayfair, RH, and Williams-Sonoma fell on tariff concerns, while La-Z-Boy and Ethan Allen gained modestly.
Indexes – Interactive Brokers will join the S&P 500, replacing Walgreens Boots Alliance.
Defense – Defense stocks held steady as Trump officials weighed potential equity stakes in top contractors.
Pharmaceuticals – Eli Lilly gained after its weight-loss drug hit targets in a diabetes trial.
Railroads – CSX slipped after Warren Buffett said Berkshire isn't pursuing a BNSF merger.
Autos & EVs – Tesla was maintained at Neutral by Baird, with a $320 target implying downside.
Media & Entertainment – Paramount Skydance slipped but remains up 21% for August.
Cybersecurity – Okta rose after Truist upgraded the stock to Buy with a higher target.
Energy – Vital Energy jumped after Crescent Energy agreed to acquire it for $3.1B.
Minerals – MP Materials gained after Trump signaled interest in government stakes in critical mineral companies.
Technology – Apple edged higher despite lawsuits from Musk's X and xAI over alleged OpenAI collusion.
Retail – American Eagle slipped on a downgrade, with tariffs and fading celebrity tie-ins weighing on outlook.
Software & Tech – Verint Systems jumped on reports of a $2B takeover by Thoma Bravo.
Airlines – Alaska Air advanced on an Outperform upgrade from Raymond James.
Data Storage – Seagate rose after Cantor Fitzgerald issued a positive outlook.
Medical Devices – DexCom declined despite beating earnings, as margins weakened on higher expenses.
The Federal Reserve announced Tuesday that it will "abide by any court decision" regarding President Donald Trump's attempt to remove Fed Governor Lisa Cook from the central bank's board.
EchoStar Soars 65% on $23 Billion Spectrum Sale to AT&T
Shares of EchoStar (SATS) rocketed 65% in premarket trading Tuesday after the company announced the sale of a significant tranche of wireless spectrum to AT&T (T) in a $23 billion deal. Investors reacted positively to the news, viewing it as a major milestone for EchoStar as it navigates regulatory challenges and strengthens its financial position. In a statement, EchoStar, the parent company of Dish TV, said, "This transaction is part of EchoStar's ongoing efforts to resolve the Federal Communications Commission's inquiries."
Trump Media Strikes $1 Billion Crypto.com Deal, Launches Digital Asset Treasury
President Donald Trump's crypto ventures are growing with a new partnership between Trump Media & Technology Group and Crypto.com to form Trump Media CRO Strategy, a digital asset treasury firm that will hold the exchange's token, CRO. The company plans to purchase $105 million in CRO immediately, with total funding reaching $1 billion in CRO, plus $420 million in cash and a $5 billion line of credit. The move positions the firm among a growing number of companies establishing corporate cryptocurrency treasuries, following the MicroStrategy model. Trump Media also plans to integrate a CRO-based rewards system on Truth Social, embedding crypto into its platform ecosystem.
Earnings Spotlight: Nvidia
AI chipmaker Nvidia is projected to report adjusted earnings per share of $1.02 for the second quarter on an over 50% year-over-year jump in revenue to $46.52 billion, according to consensus estimates compiled by Visible Alpha. CEO Jensen Huang could also provide more details during the company's earnings call about the timing of new products, including Nvidia's next-generation Rubin lineup and a more powerful AI chip tailored for China's market.
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