U.S. stocks opened mostly lower Monday, extending the volatility that disrupted Wall Street’s rally last week. Investors remained cautious amid fluctuating Treasury yields, concerns about corporate debt, and rising tensions in the Persian Gulf, while awaiting Nvidia’s earnings report and a key inflation reading later this week.
At 11:23 a.m. ET, the S&P 500 was down 0.36% at 7,647.59, and the had declined 0.69% to 26,005.10. The , however, rose 0.26% to 53,415.35.
The declines followed a defensive week for U.S. equities. The S&P 500 fell 1.4%, the Nasdaq dropped 2.1%—ending a three-week winning streak—and the Dow lost 0.9%.
Investors continued to take their cues from the bond market, where rising borrowing costs have weighed particularly heavily on long-duration growth stocks.
At the same time, markets were assessing the potential fallout from the U.S. threat to impose sweeping economic measures on Iran, including possible sanctions against countries that continue trading with Tehran. Treasury Secretary Scott Bessent has described the potential action as an “economic D-Day” and was scheduled to hold a press conference Monday afternoon.
Nvidia Earnings in Focus
The week’s most important company-specific event is Nvidia’s () second-quarter earnings report, due Wednesday. As the leading beneficiary of the generative-AI boom, Nvidia’s results are viewed as a key test of investor confidence in the broader technology sector.
Markets will be focused on whether enterprise demand for AI infrastructure remains strong enough to support elevated valuations and justify the enormous capital-spending plans of major technology companies.
US Economic Data and Earnings Calendar:
The week ahead will center on Federal Reserve Chair Kevin Warsh’s keynote address at the Jackson Hole Economic Symposium, taking place August 27–29. His remarks are expected to provide important clues about the Fed’s decision on in September.
Investors will also assess key U.S. economic data, including the revised second-quarter estimate, July’s inflation reading and consumer sentiment figures, for signs of economic resilience and persistent inflation.
Earnings from semiconductor and AI infrastructure companies, including Nvidia and Marvell Technology (), along with enterprise software firms, will also be closely watched. Their results could help determine whether strong AI-related capital spending and elevated sector valuations remain justified.
Economic Calendar: (Week of Aug 24-28)
Monday (8/24):
Chicago Fed National Activity Index
Tuesday (8/25):
Weekly Employment Change, Philadelphia Fed Non-Manufacturing Activity, Richmond Fed Manufacturing Index, , and
Wednesday (8/26):
MBA Mortgage Applications, Personal Income and Spending, and , , the second estimate of 2Q26 GDP, Personal Consumption, and Capital Goods Orders
(Aug 27 – 29)
Thursday (8/27):
Trade Balance, Retail Inventories, Initial Jobless Claims, and Kansas City Fed Manufacturing Activity
Fed Chair Warsh Speaks at Jackson Hole
Friday (8/28):
Chicago PMI, University of Michigan Consumer Sentiment, and the Preliminary Benchmark Payrolls Revision
https://www.investing.com/economic-calendar, a more detailed calendar
Key Earnings Calendar: (Week of Aug 24-28)
Tuesday (8/25):
Dick’s Sporting Goods (DKS), Zoom Communications (ZM), and Intuit (INTU)
Wednesday (8/26):
NVIDIA (NVDA), Okta (), CrowdStrike Holdings () Synopsys (SNPS), Veeva Systems (VEEV), Salesforce Inc (), HP Inc. (HP), and Standard Nuclear (STDN)
Thursday (8/27):
Dollar General (DG), Dollar Tree (DLTR), Autodesk (ADSK), Workday (WDAY), Marvell Technology (MRVL), and Affirm Holdings (AFRM)
Friday (8/28):
Hyperliquid Strategies Inc. (PURR) and Hub Group (HUBG)
https://www.investing.com/earnings-calendar, a more detailed calendar
Nvidia (NVDA) earnings and a closely watched speech by newly appointed Federal Reserve Chair Kevin Warsh are expected to dominate the final trading week of August, capping a summer of strong gains for stocks.
The world’s leading artificial-intelligence company—and the largest technology stock by market capitalization—is scheduled to release its second-quarter results after Wednesday’s market close. Analysts are forecasting earnings of $2.08 per share, nearly double last year’s figure, on revenue of approximately $92.06 billion.
Investors will likely focus even more closely on Nvidia’s guidance for near-term revenue and profit growth. The company is projected to generate roughly $400 billion in full-year revenue, nearly twice the $215 billion it reported in 2025.
Salesforce (CRM) is scheduled to report earnings late Wednesday. Analysts expect accelerating third-quarter earnings growth and the company’s strongest sales growth since the first quarter of 2023.
Investors will be watching closely for updates on the monetization of Salesforce’s Agentforce platform and whether its artificial-intelligence tools can offset slower growth in the company’s legacy software businesses. Salesforce shares have risen 43% since late June but remain down 21% year to date.
Most leading cybersecurity stocks pulled back during the week ahead of their earnings reports. CrowdStrike Holdings (CRWD) and Okta (OKTA) are scheduled to report late Wednesday, followed by Rubrik () and SentinelOne (S) after Thursday’s close.
The rapid growth of artificial intelligence—and the emergence of more sophisticated AI-powered cyberthreats—has increased attention on the sector. Analysts broadly expect revenue and earnings growth to remain steady in the second quarter, with customer spending trends holding firm.
Investors will be watching annual recurring revenue growth and whether AI-driven products can help reignite growth. Analysts raised their price targets for several cybersecurity companies on Thursday and Friday.
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Ali Merchant is a seasoned financial market professional with expertise in Technical Analysis, Treasury & Capital Markets, Trading, Sales, Research, Training, & Fund Management. He is the founder of www.twtlearning.com providing financial education, research and advisory services to fund & hedge fund managers and family offices.
He has been trading FX, FX options, US stocks & options, Indices, Commodities & Oil, and Metals Futures. He has a CMT charter, an AAPTA membership, and a CMT Canada membership. He has worked in various roles and organizations in North America and the GCC, such as ABN Amro bank, Thomson Reuters, Refinitiv, MAK Allen & Day Capital Partners, and Bridge Information Systems.
He is regarded as an excellent mentor and has trained more than 2000+ users in North America, Gulf countries & Asia on financial markets & products, active and passive trading, and technical analysis strategies. He emanated technical analysis daily and weekly reports for BridgeNews Chicago bureau and updated technical analysis reports on Bloomberg and Reuters while working with ABN Amro bank treasury & capital markets. Has moderated and produced technical analysis reports for Thomson Reuters (Refinitiv) users’ chat rooms and trained users on technical analysis techniques and models. Conducted TA & Global Markets outlook workshop with central banks, sovereign funds, global & regional banks & family offices.