01 Stock Market

The U.S. major indexes closed as follows: Dow Jones declined 0.21% at 53,463.88; S&P 500 declined 0.02% at 7,675.70; NASDAQ declined 0.08% at 26,130.20. The slight pull-back came after an event-packed session featuring heavyweight tech results and fresh economic data.

Chip and mega-cap technology names led the roster of unusual movers. NVDA declined 1.59% at $209.66 amid profit-taking after its blockbuster earnings. AAPL rose 1.15% at $313.45 on signs of resilient iPhone demand, while META added 1.07% at $576.14 after settling major litigation. Electric-vehicle leader TSLA fell 1.26% at $345.82. AI-software specialist PLTR gained 2.76% at $177.50, and optical-network maker LITE surged 6.04% at $939.03 on upbeat sector sentiment.

Trading volumes remained concentrated in technology counters as investors digested the latest AI-driven earnings beats against a backdrop of cautious macro data. The modest index declines masked sharp stock-specific swings, underscoring a market still prone to rotation and headline sensitivity.

02 Other Markets

U.S. 10-year Treasury yield was unchanged, latest at 4.66%.

USD/CNH rose 0.01%, at 6.79; USD/HKD rose 0.00%, at 7.84.

U.S. Dollar Index fell 0.01%, at 99.13.

WTI crude futures fell 0.55%, at 81.78 USD/bbl; COMEX gold futures rose 0.23%, at 4,663.80 USD/oz.

03 Top News

1. Nvidia projected third-quarter revenue above expectations and expanded its GPU partnership with Amazon Web Services. The chipmaker said demand for AI hardware remains “persistent” and plans to deploy an additional two million GPUs across AWS infrastructure. Shares jumped more than 4% in extended trading as investors welcomed the stronger outlook.

2. Meta Platforms agreed to a settlement of up to $16.68 billion to resolve state lawsuits over alleged harms to young social-media users. The company will introduce nationwide daily usage limits and nighttime blocks for teens on Facebook and Instagram. Meta denied wrongdoing but aims to close a chapter of costly litigation.

3. The Personal Consumption Expenditures Price Index held at a 3.7% annual pace, underscoring sticky inflation. July’s core PCE matched forecasts at 3.3% but remained well above the Federal Reserve’s 2% target. The data may complicate future rate-setting debates within the FOMC.

4. The second estimate for U.S. second-quarter GDP confirmed annualized growth of 1.5%. The unchanged reading signals steady, if modest, economic momentum despite higher borrowing costs. Economists view the figure as consistent with a “soft-landing” scenario.

5. Abercrombie & Fitch lifted its full-year sales outlook to 5% growth on resilient demand for its apparel brands. Millennial interest in the flagship Abercrombie line and back-to-school traffic at Hollister bolstered quarterly revenue to $1.27 billion, topping consensus estimates and sending the stock up double digits.

6. Kohl’s reported weaker second-quarter sales but raised its annual profit forecast and reactivated a $100 million share-buyback. Revenue slipped 0.9% to $3.32 billion amid cautious discretionary spending, yet tariff refunds and cost controls prompted the retailer to boost earnings guidance.

7. Semiconductor firm Semtech beat quarterly estimates and upgraded guidance, sparking a double-digit share price rally. Management cited robust demand for high-speed connectivity chips in cloud and AI infrastructure. The upbeat outlook contrasted with recent sector volatility.

8. JM Smucker exceeded first-quarter expectations and increased its full-year profit forecast. The packaged-foods maker credited pricing actions and steady demand for its branded snacks and spreads. Shares advanced more than 5% as investors welcomed the improved margin outlook.

9. Investors await Federal Reserve Chair Kevin Warsh’s keynote at the Jackson Hole symposium for policy clarity. Market participants hope the speech will outline how the Fed will balance persistent inflation against the tightening impact of higher long-term yields. Uncertainty over rate trajectories has contributed to recent bond-market volatility.

10. UBS downgraded SAP to neutral, citing slow progress in rolling out AI-driven software tools, sending U.S.-listed shares down 4%. Analysts warned of decelerating backlog growth and limited free-cash-flow upside, highlighting competitive pressures as enterprise clients accelerate AI adoption.

Sources: Reuters, Dow Jones, Tiger Newspress, public market data Disclaimer: This content is for reference only and does not constitute investment advice.