Today At A Glance:

U.S. markets pulled lower, with continued weakness in tech stocks and rising investor caution ahead of inflation data and Powell’s Jackson Hole appearance. The S&P 500 slipped 0.2%, marking its fourth consecutive daily loss. The Nasdaq Composite fell 0.7%, further weighed down by declines in high-flying AI and chip names, amid remarks from OpenAI’s CEO warning of an AI bubble and an MIT study raising concerns about AI profitability. Defensive sectors such as energy, healthcare, and consumer staples outperformed as investors rotated away from expensive technology stocks. The Dow Jones Industrial Average closed nearly unchanged, buoyed by select gains in stocks like Lowe’s and TJX, even as others—including Target and Alcon—dragged it down.

Today’s Index Performance

• Dow Jones Industrial Average: Rose slightly by less than 0.1%, closing at 44,938.31.
• S&P 500: Closed at 6,395.78, down −0.2%.
• Nasdaq Composite: Ended at 21,172.86, down −0.7%.

Gainers Of Note

• Lowe’s (NYSE: LOW) – Home improvement retailer; posted gains on strong earnings and raised outlook.
• TJX Companies (NYSE: TJX) – Discount retail leader; rose to an all-time high following solid Q2 performance.
• Analog Devices (NASDAQ: ADI) – Semiconductor firm; lifted by strong quarterly earnings.

Losers Of Note

• James Hardie Industries (NYSE: JHX) – Building materials manufacturer; fell ~4% after issuing a weaker-than-expected revenue outlook due to slowing housing demand.
• VEON Ltd. (NASDAQ: VEON) – Global telecom operator; dropped ~6% following reports of restructuring challenges and currency headwinds in key markets.
• Intel Corporation (NASDAQ: INTC) – Chipmaker; slid ~3% as broader semiconductor stocks sold off amid valuation concerns and AI market caution.

Active Traders Of Note

• Intercontinental Exchange (NYSE: ICE) – Exchange operator; among the day’s active names, gaining ~1.7% on strong volume.
• CME Group (NASDAQ: CME) – Derivatives exchange; advanced ~1.15%, posting heavy trading volume.
• Nasdaq, Inc. (NASDAQ: NDAQ) – Platform operator; rose ~0.7% with elevated activity, following peers in the sector.

Looking Forward:

The retreat in tech and AI-linked names has investors on edge ahead of key inflation data and Fed Chair Powell’s Jackson Hole remarks, which may provide signals on the timeline of interest rate policy. Defensive sectors are benefiting from rotation, offering potential support if risk-off sentiment persists. Traders will closely watch how megacap earnings and macroeconomic updates sway markets in the coming days.

Note: The stock performance summaries are based on general trends observed over the past ten trading days and are not indicative of future results.

THIS NEWSLETTER IS PARTNERED WITH ROBINHOOD.COM AND IS FINANCIALLY SPONSORED BY THAT SERVICE.

TO BEGIN YOUR INVESTMENT JOURNEY TODAY, USE THIS LINK TO SET UP YOUR ACCOUNT.