Today At A Glance:

Stocks ripped higher after Fed Chair Jerome Powell signaled the door is open to a near-term rate cut at Jackson Hole, pushing the Dow to a record close and snapping the S&P 500’s five-day skid. By the bell the Dow +1.9%, S&P 500 +1.5%, and Nasdaq +1.9%; lower yields helped extend the rebound across cyclical and growth shares. Small caps surged as rate-sensitive areas caught a bid; the Russell 2000 jumped ~3.9%. Notable standouts included Ubiquiti (buyback/dividend/earnings), Zoom (raised outlook), and Tesla (+6.2%, led megacaps). Market breadth flipped decisively positive: 10 of 11 S&P sectors rose (consumer discretionary led), semiconductors rallied (PHLX SOX +2.7%), and small caps hit a year high (Russell 2000 +4.1%), with NYSE advancers beating decliners ~9.4-to-1 and 590 new highs.

Today’s Index Performance

• Dow Jones Industrial Average (^DJI) — The Dow opened today at 44,952.88 and closed today at 45,631.74, a gain of +1.89%.
• S&P 500 (^GSPC) — The S&P 500 opened today at 6,384.59 and closed today at 6,466.91, with a percentage change of +1.52%.
• Nasdaq Composite — The Nasdaq opened today at 21,139.83 and closed today at 21,496.54, with the percentage change of +1.88%.

Gainers Of Note

• Ubiquiti (NYSE: UI) – Network equipment maker; surged ~23% on strong results plus a dividend hike and $500M buyback.
• Zoom Video (NASDAQ: ZM) – Video communications; jumped ~13% after lifting its annual outlook on robust AI-driven demand.
• Tesla (NASDAQ: TSLA) – EV & AI platform; rose ~6.2% as rate-cut optimism boosted megacap growth leaders.

Losers Of Note

• Intuit (NASDAQ: INTU) – Financial software; fell ~5% after guiding Q1 revenue below estimates, citing weakness at Mailchimp.
• Workday (NASDAQ: WDAY) – HCM software; slipped ~3% on a cautious outlook tied to public-sector/education spending.
• Philip Morris International (NYSE: PM) – Tobacco; declined as rival RLX posted stronger-than-expected revenue, pressuring sentiment.

Active Traders Of Note

• Intel (NASDAQ: INTC) – Semiconductors; heavy volume, +~5.5% after reports the White House is expected to take a ~10% stake in the company.
• Nvidia (NASDAQ: NVDA) – AI chips; active and higher (~+1.7%) as tech reversed early weakness during the rally.
• Coinbase (NASDAQ: COIN) – Crypto exchange; busy tape, +~6.5% as risk appetite and bitcoin proxies rallied alongside equities.

Looking Forward:

Powell’s remarks raised market-implied odds of a September rate cut to near 90%, which could keep the bid under cyclicals and small caps if incoming data cooperate. Next week, traders will watch fresh labor and inflation reads to validate the Fed’s “opening the door” stance and gauge durability of the rebound. Earnings stragglers and guidance updates—especially in software and consumer discretionary—may drive continued dispersion beneath the headline indices.

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

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