Evening Market Recap  

Sophia Reyes · August 8, 2025 7:26 PM

Market Snapshot for Friday August 8^th, 2025

S&P 500 – 6,389.45 (+0.78%)

NASDAQ – 21,450.02 (+0.98%)

Dow Jones – 44,175.61 (+0.47%)

Market Performance

Tech stocks led the charge on Friday, pushing major indices higher and wrapping up the week with strong gains. The Nasdaq Composite surged 0.98% to close at a record 21,450.02, hitting an all-time intraday high earlier in the session. The S&P 500 gained 0.78%, finishing at 6,389.45, just shy oee major indexes posted solid advances: the Dow climbed about 1.4%, the S&P 500 added 2.4%, and the Nasdaq led with a 3.9% gain.

Apple was a standout, boosting the tech sector across the board. The iPhone maker’s shares jumped 13% this week, fueled by its announcement to invest roughly $600 billion in the U.S. over the next four years — a move aimed at winning favor with President Donald Trump. This marked Apple’s best weekly performance since July 2020.Bottom of Form

Europe’s major indexes edged higher, while Asia-Pacific markets closed mostly lower, with Japan posting gains.

Economic Takeaways –

• Trump announced earlier this week that he would impose a 100% tariff on imported semiconductors and chips, with an exemption for companies that are “building in the United States.”
• The NASDAQ reached a new all-time intraday high of 21,464.53 after rising around 1% during Friday’s trading session.
• Fed rate cut odds for next month stand near 90%, per CME FedWatch.
• Attention turns to next week’s July CPI and PPI reports, which will gauge tariff impacts on inflation. Bloomberg consensus sees core CPI rising 0.3% month-over-month, a modest uptick pointing to gradual price increases.

Gold –

• Gold futures (GC=F) in New York surged to record highs on Friday after the Financial Times reported that certain gold bar imports from Switzerland are not exempt from US tariffs.
• Gold prices then fell from a record high Friday after the White House said it will clarify “misinformation” about the precious metal facing tariffs. “The White House intends to issue an executive order in the near future clarifying misinformation about the tariffing of gold bars and other specialty products,” a White House official told CNBC.
• Gold futures fell from an all-time closing high of $3,491.30 on the White House statement. The precious metal was last trading at $3,463.30.

Oil –

• West Texas Intermediate is pinned near $63.73, down 0.23% on the session after dipping to $62.92 earlier, while Brent trades around $66.49, marginally positive on the day but lower on the week after touching $65.92 intraday.
• Brent crude futures settled down 46 cents, or 0.7%, at $66.43 a barrel. U.S. West Texas Intermediate crude fell 47 cents, or 0.7%, to $63.88.

Crypto –

• President Trump on Thursday signed an executive order that will pave the way for alternative assets like cryptocurrencies and private equity to be included in the retirement accounts of millions of Americans.
• On Friday, bitcoin rose around 1% to trade near $117,000, while ether and XRP were trading up more than 5% and more than 11%, respectively. Ethereum rallied over 1%, reaching its highest level in seven months.
• Altcoins climbed early Friday after Ripple (RIPL.PVT) announced plans to acquire a stablecoin payments platform, while Chainlink unveiled a funded reserve program for its native tokens, Yahoo Finance’s Jake Conley reports.
• Ripple’s XRP (XRP-USD) jumped as much as 8% early Friday, while Chainlink’s LINK (LINK-USD) gained up to 11%. Ethereum (ETH-USD) rose more than 1% and Solana (SOL-USD) climbed over 2% ahead of Friday’s U.S. equity market open.

Trump Says Fannie and Freddie will Go Public by End of Year and Raise $30B

Yahoo Finance’s David Hollerith reports:

The Trump administration is looking to sell its stock holdings in mortgage giants Fannie Mae and Freddie Mac through a public offering that it believes could raise $30 billion and begin later this year, according to a Friday Wall Street Journal report.

The plans being discussed within the administration could value these firms at a combined $500 billion or more and involve a 5% to 15% sale of Fannie and Freddie shares, according to unnamed sources from the report.

Trump’s Tariffs Slam Automakers With $11.7 Billion Blow — and Counting

The global auto industry is taking a bruising from President Trump’s tariffs, with losses mounting fast.

Toyota (TM), the world’s largest automaker, became the latest to tally the damage in its Thursday earnings report, revealing that tariffs shaved more than $3 billion off its fiscal first-quarter operating income ending June 30.

With Toyota’s hit factored in, the combined toll on the biggest automakers now stands at roughly $11.7 billion, according to company filings. Toyota absorbed the largest single blow, followed by Volkswagen (VWAGY), GM (GM), Ford (F), Honda (HMC), and others. Chinese automakers were excluded from the count, as they don’t operate in the U.S. market.

The pain isn’t limited to foreign brands. Tariffs of 15% on imports from Japan and 25% on vehicles and parts from countries like Canada and Mexico are squeezing margins across the industry. Even the Detroit Big Three — Ford, GM, and Stellantis — are feeling the pinch, thanks to their deep manufacturing ties with U.S.-Mexico-Canada Agreement (USMCA) partners.

Top Gainers

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

Newegg Commerce (NEGG) +34.24%

SoundHound AI (SOUN) +26.40%

Bitmine Immersion Technologies (BMNR) +24.59%

Sotera Health Company (SHC) +24.51%

Hagerty, Inc. (HGTY) +14.03%

Top Losers

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

The Trade Desk (TTD) -38.61%

Twilio, Inc. (TWLO) -19.38%

The Goodyear Tire Company (GT) -18.52%

AvePoint, Inc. (AVPT) -18.11%

Under Armour, Inc. (UAA) -18.07%

Notables

• Piper Sandler has upgraded Monster Beverage (MNST) to overweight from neutral, signaling increased confidence in the stock. The firm also raised its price target to $74 from $54, suggesting potential gains of nearly 22% based on Thursday’s closing price.
• Goldman Sachs is becoming optimistic about Peloton (PTON) following financial results that eased investor concerns. Analyst Eric Sheridan upgraded the connected fitness company from neutral to buy and raised his 12-month price target to $11.50, indicating over 61% upside potential. His prior target was $7 per share.
• Instacart’s (CART) earnings beat announced after Thursday’s close sparked enthusiasm on Wall Street. Benchmark Equity Research responded by upgrading the grocery delivery company from hold to buy, with a $67 price target that suggests nearly 36% upside from Thursday’s closing price.
• Trade Desk’s stock tumbled nearly 40% following strong earnings but a cautionary outlook from CEO Jeff Green, who noted that major brands are facing pressure from tariffs and inflation. This marks the company’s second 30%+ drop on earnings this year, after a 33% fall in February.
• Gen Digital’s stock jumped over 9% on Friday after beating expectations in its fiscal first-quarter results and raising its full-year revenue and profit forecasts.
• Genetic testing company Natera climbed about 11% following second-quarter revenue that surpassed top Wall Street estimates. The company also lifted its full-year gross margin and revenue forecasts beyond prior guidance and analyst consensus.
• Prediction markets show a rising chance (37%) that Intel CEO Lip-Bu Tan will step down in 2025, following President Trump’s public call for his resignation. Tan responded by denying wrongdoing and affirming his ethical standards.
• Tesla’s decision to shut down its custom AI supercomputer project “Dojo” signals a shift to using off-the-shelf GPUs, benefiting chipmakers Nvidia and AMD. Tesla has been ramping up its purchases of Nvidia GPUs for AI training.
• The VanEck Gold Miners ETF reached a multi-year high, fueled by hopes of Federal Reserve rate cuts and new tariffs on gold imports. The ETF is up nearly 12% this week and 73% year-to-date, with key holdings hitting 52-week highs.
• AMC Networks beat earnings and revenue expectations, driven by growth in its streaming business, which rose 12% year-over-year, despite a slight decline in linear subscriptions.
• Under Armour’s shares plunged following disappointing earnings and guidance. Viavi Solutions posted strong results, sending its shares higher. Trade Desk shares fell sharply despite strong earnings due to concerns over tariff and inflation impacts.
• Wendy’s cut its annual earnings forecast and expects a sales decline, despite beating estimates for the second quarter.
• Pinterest’s adjusted earnings fell short of estimates, causing shares to tumble in premarket trading.

What to Watch Ahead

• August 11: Expected earnings from Barrick Mining (B) and AMC (AMC).
• August 12: July CPI and expected earnings from Cardinal Health (CAH), Cava Group (CAVA), Circle Internet (CRCL), and CoreWeave (CRWV).
• August 13: Expected earnings from Cisco (CSCO).
• August 14: July PPI and expected earnings from Deere (DE), JD.com (JD), Tapestry (TPR), and Applied Materials (AMAT).