Wall Street entered a new record territory with the S&P 500, as investors rotated into tech, software, and select cyclicals ahead of pivotal earnings. Tariff volatility, monetary policy uncertainty, and sector rotation continue to shape the last days of August trading. Yes indeed, the S&P 500 closed at another record high, climbing 0.24% to 6,481.40 as technology led a measured risk-on rebound ahead of Nvidia’s closely watched earnings. The Dow Jones Industrial Average advanced almost 0.32%, finishing at 45,565.23, buoyed by defensives and a firm rally in value names. The Nasdaq Composite added 0.21% to close at 21,590.14, underpinned by strength in large cap tech, while the Russell 2000 extended its recovery rising .64% to close at 2,373.80, reflecting a tentative shift into small-cap equities after recent underperformance.
Macroeconomic Reports
No major U.S. macroeconomic releases landed today, leaving investor attention fixed on upcoming growth data and the earnings calendar. Market sentiment was also swayed by the continued legal maneuvering over the White House’s move to dismiss Fed Governor Lisa Cook, keeping uncertainty around monetary policy in focus.
Federal Reserve, Yield Curve & Interest Rates
Expectations for a 25-basis-point interest rate cut in September remained central, with large brokerages and market pricing alike leaning dovish. New York Fed President Williams emphasized the need to watch forthcoming economic data before determining policy actions. The 2-year Treasury yield settled lower at 3.621% and the 10-year yield at 4.241%, -.027%.
Tariff and Trade News
The U.S. doubled tariffs on a range of Indian imports, pushing total duties as high as 50% on products spanning apparel, jewelry, footwear, and chemicals. Indian officials are poised to provide targeted support for exporters impacted by the latest escalation, while U.S. businesses face higher costs and further supply chain recalibration.
Corporate Headlines & Share Price Movements
NVIDIA closed at $18.60,-.09% ahead of earnings, as options markets signaled expectations of significant price movement. The AI leader’s market cap surged amid strong institutional buying, and Wall Street anticipates another blockbuster quarter in data center and software revenue. However after the close, Nvidia reported second quarter adjusted earnings per share of $1.05 compared to a $1.01 estimate. Revenue was $46.7 billion, which was just above the Bloomberg estimate of $46.2 billion. Data center revenue was slightly below estimates, $41.1 billion versus an expected $41.29 billion. The company said in the release that “there were no H20 sales to China-based customers in the second quarter.” NVDA stock is down ~3% in the aftermarket.
Tesla edged lower by .59% to close at $349.60.
Meta Platforms (META) closed at $747.38,-.89%.
McDonald’s (MCD, $311.43, -.48%). Pacsun, ‘the authority in emerging fashion’, recently partnered with the world’s most iconic restaurants to celebrate the highly anticipated homecoming of its beloved McDonaldland. Launched on August 12, the exclusive Pacsun x McDonaldland Collection features themed apparel and accessories, with Pacsun playing a pivotal role in bringing the campaign to life through immersive IRL and digital experiences.
Intel (INTC) climbed +2.05% to close at $24.85, benefiting from continued momentum in government investment and speculation regarding new foundry partnerships.
MongoDB (MDB) soared 38% after raising its full-year profit outlook, making it the session’s surprise standout in software. Learn more here.
Oracle (ORCL) gained modestly by +.68% to close at $235.81, recovering with other cloud and infrastructure names after last week’s selling eased.
Palantir Technologies (PLTR) fell another 2.58% today to close at $156.72,
Rio Tinto Group (RIO) rose +.26% to close at $62.11, driven by firmer metals prices and relief that the latest tariffs did not target major mining exports.
IPO Activity (NYSE/Nasdaq)
M3-Brigade Acquisition VI Corp. (MBVI) debuted today at $10.00, ending flat, and kept the pace of 2025’s robust but closely watched IPO calendar. Recent issues such as Curanex Pharmaceuticals (CURX) closed up +15.92% at $4.66, while investor caution persists following mixed aftermarket results.
Commodities & Cryptocurrencies Closing Prices
- Gold: Closed at $3,452.10/oz, +.56%.
- Silver: Ended at $38.695/oz, +.23%,
- Oil (WTI): Closed at $63.85/barrel, +.95%.
- Bitcoin: Traded is trading the $112,505 range.
