Evening Market Recap

Sophia Reyes · August 6, 2025 8:03 PM

Market Snapshot for Wednesday August 6^th, 2025

S&P 500 – 6,345.06 (+0.73%)

NASDAQ – 21,169.42 (+1.21%)

Dow Jones – 44,193.12 (+0.18%)

Market Performance

Wall Street Rallies on Apple Surge, Earnings Strength Amid Trade Tensions

Stocks climbed on Wednesday, lifted by a sharp rally in Apple and encouraging corporate earnings, as investors continued to assess the broader economic landscape.

The S&P 500 rose 0.73% to finish at 6,345.06, while the Nasdaq Composite jumped 1.21% to close at 21,169.42. The Dow Jones Industrial Average edged up 81.38 points, or 0.18%, ending the session at 44,193.12.

Apple shares surged 5% after a White House official confirmed to CNBC that the tech giant is set to invest another $100 billion into U.S. manufacturing—raising its total planned investment to $600 billion over the next four years.

Wednesday’s gains come after a rough stretch, with the S&P 500 logging losses in five of its last six sessions and the Dow declining in six of its past seven.

Economic Takeaways –

• The White House said on Wednesday that it is implementing an additional 25% tariff on goods coming into the U.S. from India, a move that effectively brings the total tariff on Indian goods to 50%.
• Minneapolis Fed President Neel Kashkari said Wednesday he still expects two interest rate cuts in 2025, though he noted the central bank may need to pause—or even raise rates—if tariffs lead to a sharp rise in inflation.
• The U.S. dollar is weakening against major global currencies.
• Yesterday’s July ISM Services PMI^®fell to 50.1% from June’s 50.8%. Anything above 50% indicates expansion, and analysts had expected 51.5%.
• The CME FedWatch Tool now shows 87.2% odds of a September rate cut, with futures pricing in two to three cuts by year-end.

Gold –

• Gold prices eased on Wednesday as investors booked profits after prices hit a near two-week high in the previous session, while the market’s focus shifted to U.S. President Donald Trump’s upcoming Federal Reserve nominations.
• Spot gold fell 0.2% to $3,373.59 per ounce by 02.00 p.m. ET (1800 GMT). U.S. gold futures settled flat at $3,433.4.

Oil –

• Oil prices slid about 1% to an eight-week low on Wednesday after U.S. President Donald Trump’s remarks about progress in talks with Moscow created uncertainty on whether the U.S. would impose new sanctions on Russia.
• Brent crude futures fell 75 cents, or 1.1%, to settle at $66.89 a barrel, while U.S. West Texas Intermediate crude dropped 81 cents, or 1.2%, to settle at $64.35.

Crypto –

• Bitcoin bounced on Wednesday to hover a little under $115,000.
• A jury on Wednesday found Roman Storm guilty of conspiracy to operate an unlicensed money transmitting business, a disappointment for crypto proponents who had backed the software developer’s defense. The charge carries a maximum prison sentence of five years.

Trump’s Expected ‘Debanking’ Order Could Open New Doors for Banks, Says Wells Fargo

A forthcoming executive order from President Donald Trump could prove beneficial for U.S. banks by expanding their lending opportunities, according to Wells Fargo analyst Mike Mayo.

As reported by The Wall Street Journal, Trump is expected to sign the order as early as this week. The directive would target the practice of “debanking”—where financial institutions drop customers for political reasons—and would penalize banks for doing so. Mayo believes this could widen the total addressable market for banks.

“New regulatory uncertainty around ‘debanking’ seems like the exception to the rule that this is the biggest deregulation in three decades,” Mayo wrote in a client note. “This has potential to weigh on BAC and create new regulatory risk, but can also help banks more easily lend, too.”

He added that the order could give banks more flexibility to lend to industries or businesses previously considered off-limits. “Investors at past annual meetings have questioned why banks weren’t lending to certain legal sectors. This type of rule could open the door for banks to expand lending in those areas.”

The move follows Trump’s claim in a CNBC interview that JPMorgan and Bank of America—two of the nation’s largest banks—had dropped him as a client.

U.S. Consumers Stronger Than They Appear, Says Raymond James

Despite softer retail sales figures in official economic data, accelerating trends among card processors point to a healthier U.S. consumer than the numbers suggest, according to Raymond James.

The firm noted that certain spending categories—like durable goods and health care—tend to weigh heavily on personal consumption expenditure (PCE) data but have little effect on card processing volumes. Meanwhile, a notable slowdown in non-credit card spending has bolstered card-based transactions.

“The reason card processors are showing stronger trends than retail sales or PCE might indicate comes down to less spending by nonprofits, non-residents, and in rate-sensitive sectors that don’t typically rely on cards,” Raymond James wrote in a client note. “Plus, a healthy slowdown in inflation-heavy areas like health care, insurance, housing, and transportation over the past year has freed up more dollars for consumer card spending.”

Top Gainers

Several stocks experienced significant gains. Some of the top gainers included:

Viasat, Inc. (VSAT) +30.67%

Astera Labs, Inc. (ALAB) +28.66%

Zeta Global Holdings (ZETA) +27.47%

RingCentral, Inc. (RNG) +26.97%

Avidity Biosciences (RNA) +26.14%

Top Losers

The top US stock losers today, based on percentage change included:

Lantheus Holdings (LNTH) -28.58%

Kemper Corp. (KMPR) -21.26%

Six Flags Entertainment (FUN) -20.78%

Upstart Holdings (UPST) -18.74%

Super Micro Computers (SMCI) -18.29%

Notables

• McDonald’s climbed nearly 3% after delivering better-than-expected second-quarter results, with both revenue and earnings topping Wall Street estimates. The company also reported its fastest same-store sales growth in nearly two years, fueling investor optimism.
• Arista Networks surged 17% following a blowout earnings report that exceeded analyst forecasts.
• Snap sank 17% after its revenue narrowly missed expectations, disappointing investors.
• Advanced Micro Devices also struggled, dropping more than 6% after falling short on adjusted earnings per share.
• Shares of Apple were trading higher on Wednesday, marking the best daily performance for the iPhone maker since May. The stock popped after a White House official confirmed with CNBC that Apple will commit to a $100 billion investmentin a new “American Manufacturing Program.”
• Grocery Outlet surged 38% after blowing past second-quarter expectations. The discount grocer posted adjusted earnings of 23 cents per share, well above the 17 cents forecasted by analysts polled by FactSet. The company also raised its full-year earnings outlook, further boosting investor confidence.
• Bloomin’ Brands, however, tumbled 28.4% despite beating second-quarter estimates. The restaurant chain’s weak guidance for both the current quarter and full year weighed heavily on the stock, overshadowing its otherwise solid performance.
• Viasat rallied more than 24% following a major earnings beat. The communications company reported fiscal first-quarter earnings of 17 cents per share on $1.17 billion in revenue, smashing expectations for a 65-cent loss on $1.13 billion in sales, according to FactSet.
• Disney shares dipped slightly Wednesday, even after the company raised its full-year earnings per share forecast by 10 cents. The updated guidance now calls for adjusted EPS of $5.85, topping Wall Street’s $5.78 estimate—with only one quarter left in the media giant’s fiscal year.
• Shares of Shopify jumped over 14% in premarket trading Wednesday after the company posted second-quarter revenue that beat expectations and issued upbeat guidance for the third quarter.
• Uber Technologies fell about 1% after the ride-sharing giant reported mixed second-quarter figures.
• Rivian Automotive fell more than 3% after delivering mixed second-quarter results. The EV maker reported an adjusted loss of 80 cents per share, wider than the 65-cent loss expected by analysts surveyed by LSEG. However, revenue came in slightly above expectations at $1.30 billion versus the anticipated $1.28 billion.
• Skyworks Solutions soared 9% following a strong third-quarter earnings report and better-than-expected guidance for the current quarter. The wireless technology firm posted adjusted earnings of $1.33 per share on $965 million in revenue, topping analyst estimates of $1.22 per share and $941 million, according to LSEG.

What to Watch Tomorrow

Economic Data Highlights:

• Consumer Credit — Keep an eye on this report for insights into household borrowing trends and consumer spending health.
• Continuing Claims & Initial Claims — Key indicators of the labor market’s resilience and shifts in unemployment.
• EIA Natural Gas Inventories — A vital data point for energy markets, impacting prices and sector sentiment.
• Productivity (Preliminary) & Unit Labor Costs (Preliminary) — Early gauges of economic efficiency and inflationary pressures in wages.
• Wholesale Inventories — Provides a glimpse into supply chain dynamics and business stockpiling behavior.

Earnings Spotlight:

Thursday brings a robust slate of earnings from major players across various industries:

• Atlassian Corp. (TEAM) — Watch for updates on software demand and enterprise growth.
• Brookfield Corp. (BN) — Insights expected on asset management and infrastructure investments.
• ConocoPhillips (COP) — Key energy sector results amid shifting oil market dynamics.
• Constellation Energy Corp. (CEG) — Important to follow developments in clean energy and utility operations.
• Eli Lilly & Co. (LLY) — Pharma giant updates on drug pipeline and sales growth.
• EOG Resources Inc. (EOG) — Another major energy report with potential market-moving implications.
• Flutter Entertainment PLC (FLUT) — Investor focus on betting and gaming trends.
• Parker-Hannifin Corp. (PH) — Industrial manufacturing insights expected.
• Sony Group (SONY) — Watch for performance updates across gaming, electronics, and entertainment sectors.