Today At A Glance:

• U.S. stocks slipped after Friday’s surge, as traders cooled rate-cut optimism and turned attention to Nvidia’s earnings mid-week.
• By the close, the Dow −0.77%, S&P 500 −0.43%, and Nasdaq −0.22%; Friday’s record Dow close left room for a modest pullback.
• Defensive tone showed up in rates: yields pushed higher while equities faded from early levels.
• Stock-specific headlines drove dispersion—Keurig Dr Pepper tumbled on its $18B Peet’s Coffee owner deal, while furniture retailers sagged on a new tariff probe.
• Traders are now watching this week’s PCE inflation print and Fed speakers for confirmation of September cut odds.

Today’s Index Performance

• Dow Jones Industrial Average (^DJI) — The Dow opened today at 45,605.25 and closed today at 45,281.83, with the percentage change of −0.77%.
• S&P 500 (^GSPC) — The S&P 500 opened today at 6,457.67 and closed today at 6,438.98, with the percentage change of −0.43%.
• Nasdaq Composite — The Nasdaq opened today at 21,466.47 and closed today at 21,449.29, with the percentage change of −0.22%.

Gainers Of Note

• Vital Energy (NYSE: VTLE) – Permian/Eagle Ford oil producer; surged ~16% after Crescent Energy agreed to acquire the company in a $3.1B all-stock deal.
• Tilray Brands (NASDAQ: TLRY) – Cannabis/CPG; jumped nearly 15% on a bullish outlook from Jefferies that revived sentiment in the group.
• Rocket Lab (NASDAQ: RKLB) – Small-sat launch & space systems; rose ~8% after a successful mission and updates on chip investments.

Losers Of Note

• Keurig Dr Pepper (NASDAQ: KDP) – Beverages; fell ~11% after announcing an $18B deal to buy Peet’s Coffee owner JDE Peet’s and plans to split into two public companies.
• Wayfair (NYSE: W) – Online home furnishings; slid ~9% as a new furniture import tariff probe pressured import-heavy retailers
• CSX (NASDAQ: CSX) – Rail operator; dropped ~4.5%–5% after Warren Buffett said Berkshire is not pursuing a railroad acquisition.

Active Traders Of Note

• Nvidia (NASDAQ: NVDA) – AI/GPU leader; heavy volume as investors positioned ahead of this week’s earnings, a key test for the AI trade.
• PDD Holdings (NASDAQ: PDD) – E-commerce (Temu/Pinduoduo); active and volatile on a revenue beat, with shares swinging before finishing modestly higher on the day.
• Crescent Energy (NYSE: CRGY) – E&P consolidator; elevated turnover following its agreement to buy Vital Energy.

Looking Forward:

A lighter day masked big catalysts: Nvidia’s results and Friday’s PCE inflation could reset rate-cut odds (recent estimates hover in the ~80%+ range) and near-term risk appetite. Watch whether tariff headlines continue to pressure consumer-discretionary names while M&A keeps energy volatile. If earnings and PCE cooperate, pullbacks like today’s may stay shallow; disappointments could quickly revive volatility into month-end.

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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