Today’s market action reflected a cautious yet constructive tone, as tech earnings and Washington’s influence over the Fed dictated direction. Equity sectors rotated with an eye on policy risk, while investors braced for a critical stretch of corporate and economic data releases. However, at the end of the day, U.S. equities closed in positive territory Tuesday, reversing early jitters after the surprise dismissal of Federal Reserve Governor Lisa Cook. The
S&P 500
gained 0.41% to finish at 6,465.94, powered by advances in technology and healthcare. The
Dow Jones Industrial Average
edged up 0.30%, closing at 45,318.07 after a choppy session. The
Nasdaq Composite
outperformed relatively, rising 0.44% to end at 21,544.27, anchored by a rebound in large-cap tech as traders positioned ahead of Nvidia’s highly anticipated earnings. The
Russell 2000
also rose a healthy 0.83%, as small caps benefited from a lower dollar and mild risk-on sentiment.
Macroeconomic Reports
August’s
Consumer Confidence Index
fell 1.3 points to 97.4, reflecting subdued sentiment amid persistent job market worries and fading income optimism. Both current and future business condition components weakened, and the Expectations Index remained below the 80 threshold that often signals recession risk. Preliminary
Durable Goods Orders
printed better than expected, but housing price data indicated continued softening as home affordability remains a systemic challenge.
Federal Reserve, Yield Curve & Interest Rates
Market sentiment was initially rattled by President Trump’s removal of Fed Governor Lisa Cook, which intensified concerns about political interference at the central bank. After intraday volatility, the policy outlook stabilized on expectations for a September rate cut, underpinned by recent dovish messaging from Chair Powell. Treasury yields ended with the 2-year at 3.683% and the 10-year at 4.268%, resulting in the yield curve edging lower.
Tariff and Trade News
Trade anxieties resurfaced as the White House threatened up to 200% tariffs on Chinese magnets unless a broader agreement is finalized, while floating additional levies targeting nations imposing digital taxes and tech regulation. The current U.S.–China trade pause, featuring 30% duties on most imports, remains in effect until November 10 pending further negotiations. The U.S.–EU digital trade agreement provoked fresh rhetoric but has not materially altered the near-term corporate tariff outlook.
Corporate Headlines & Share Price Movements
NVIDIA
(NVDA, $181.77, +1.08%) rose on the day as investors prepared for tomorrow’s earnings release, hoping for further evidence of AI-driven hardware strength despite ongoing supply chain and China risk.
Tesla
(TSLA, $351.67, +1.46%) posted modest gains, continuing its recent outperformance within the automaker cohort as analysts praised execution in both core vehicle and energy segments.
Meta Platforms (META, +.11%)
saw a narrow advance, aided by a rebound in AI names and stabilization of regulatory risk sentiment after last week’s pressure.
McDonald’s
(MCD, $312.94, -.16%) continued to benefit from defensive flows and retail excitement over its new BTS Happy Meal campaign, extending recent outperformance. The company is also launching a special edition of ‘Gold Sauce’ on sept. 3 that features a vinegary North Carolina VVQ sauce infused with notes of honey, smoke, & mustard.
Intel
(INTC) closed at $24.35.
Oracle
(ORCL, $234.21, -.51%)was essentially flat as investors consolidated positions following the pullback in tech and cloud stocks over the prior week
Palantir Technologies
stabilized after a sharp decline last week and closed at $160.87, +2.35%, as contract momentum and federal demand countered profit-taking pressures.
Rio Tinto Group (RIO) closed at $61.95, -.61%, as shares continue to be driven by broad-based commodity optimism and demonstrated capital discipline in the face of ongoing tariff headwinds.
Mergers, Acquisitions & Buyouts
AT&T (NYSE:T) has agreed to purchase certain wireless spectrum licenses from EchoStar (NASDAQ: SATS, $50.87, +70.25%) for a total of approximately $23 billion, subject to certain adjustments. AT&T and EchoStar have also agreed to enhance their long-term wholesale network services agreement, enabling EchoStar to operate as a hybrid mobile network operator (MNO) providing wireless service under the Boost Mobile brand. AT&T will be the primary network services partner to EchoStar as it continues to serve wireless customers.
IPO Activity (NYSE/Nasdaq)
Curanex Pharmaceuticals (CURX) completed its Nasdaq debut with limited fanfare. Mines Management (MGN) listed on the NYSE American, also trading quietly on modest volume. The IPO calendar remains busy, but aftermarket performance has been mixed.marketbeat
Commodities & Cryptocurrencies Closing Prices
- Gold:
Closed at $3,440.30/oz, +.67%. - Silver:
Ended at $36.665/oz, -.10%, - Oil (WTI):
Closed lower at $63.36/barrel, -2.22%. - Bitcoin:
Traded is trading the $111,370 range.
