Stock Market Today: S&P 500, Nasdaq 100 Futures Slip Ahead of Data-Heavy Week, Nvidia Earnings, and Jackson Hole—BABA, PMI, BIRK in Focus
U.S. stock futures were mixed on Monday, as the Dow Jones index rose while the S&P 500 and Nasdaq 100 indices fell, following Friday’s higher close.
Iranian Parliament Speaker Mohammad Bagher Ghalibaf mocked U.S. economic policy, sarcastically asking if Washington plans to “import frozen yields” to fix rising bond yields following President Donald Trump‘s trade and foreign policy moves. Ghalibaf warned on X that “a frozen foreign policy delivers a frozen economy,” taking aim at recent U.S. Treasury buybacks and domestic price-control measures.
This week, all eyes are on Wednesday’s quarterly report from Nvidia Corp. (NASDAQ:NVDA), as the market looks to see if immense AI infrastructure demand can reignite mega-cap tech momentum. In addition to Nvidia, CrowdStrike Holdings Inc. (NASDAQ:CRWD) and Marvell Technology Inc. (NASDAQ:MRVL) will hand in their results on Wednesday and Thursday, respectively.
Later in the week, macro attention shifts to Federal Reserve Chair Kevin Warsh‘s scheduled speech on Friday at the annual Jackson Hole Economic Policy Symposium, where investors will hang on any hints regarding the Fed’s long-term monetary policy framework and bond market trajectory.
Meanwhile, the 10-year Treasury bond yielded 4.71%, and the two-year bond was at 4.22%. The CME Group’s FedWatch tool projections show markets pricing a 36.9% likelihood of the Federal Reserve hiking the current interest rates during its September meeting.
| Index | Performance (+/-) |
| Dow Jones | 0.04% |
| S&P 500 | -0.11% |
| Nasdaq 100 | -0.56% |
| Russell 2000 | 0.01% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 and Nasdaq 100, respectively, were lower in premarket on Monday. The SPY was down 0.15% at $764.54, while the QQQ declined by 0.61% to $709.07.
Stocks In Focus
Applied Optoelectronics
- Applied Optoelectronics Inc. (NASDAQ:AAOI) slipped 12.70% in premarket on Monday after it announced a $600 million at-the-market equity offering.
- Benzinga’s Edge Stock Rankings indicate that AAOI maintains a strong price trend in the short and long terms, but a weak trend in the medium term.
Kairos Pharma
- Benzinga’s Edge Stock Rankings indicate that KAPA maintains a weak price trend in the short, long, and medium terms.
Alibaba Group
- Alibaba Group Holding Ltd. ADR (NYSE:BABA) fell 3.72% after the Chinese e-commerce giant announced a $10 billion share sale to fund its artificial intelligence ambitions, also sending its Hong Kong-listed shares tumbling nearly 10%.
- Benzinga’s Edge Stock Rankings indicate that BABA maintains a strong price trend in the short and medium terms but a weak trend in the long term, with a good value score.
Picard Medical
- Picard Medical Inc. (NYSE:PMI) surged 41.90% following its second-quarter earnings last week, where its revenue increased by 39% and net losses decreased by 16%.
- Benzinga’s Edge Stock Rankings indicate that PMI maintains a weak price trend in the short, long and medium terms.
Birkenstock Holding
- Birkenstock Holding PLC (NYSE:BIRK) gained 6.09% after it reported higher third-quarter sales year on year and raised its fiscal 2026 revenue growth guidance to 15%, targeting reported revenue at the upper end of EUR 2,300 million to EUR 2,350 million or $2.68 billion to $2.74 billion.
- Benzinga’s Edge Stock Rankings indicate that BIRK maintains a weak price trend in the short, long, and medium terms, with a moderate value score.
Cues From Last Session
Health care, materials, and financials led the advance as most S&P 500 sectors closed higher on Friday, while energy and utilities bucked the market trend to finish lower.
However, all major indices recorded losses last week, with the S&P 500 falling 1.4% and the Nasdaq losing 2% in the period. Both indices ended three-week winning streaks. The Dow also recorded a weekly loss of 0.9%, registering back-to-back weekly losses.
| Index | Performance (+/-) | Value |
| Dow Jones | 0.98% | 53,277.01 |
| S&P 500 | 0.43% | 7,674.37 |
| Nasdaq Composite | 0.43% | 26,180.46 |
| Russell 2000 | 0.85% | 3,017.87 |
Insights From Analysts
Mohamed El-Erian framed the current environment for the U.S. stock market and economy as a battle between solid corporate performance and heavy macroeconomic volatility.
He observed that equities are caught in an ongoing “race between the promise of even bigger earnings from productivity-boosting tech innovation on the one hand and the headwinds from funding needs and unresolved societal issues on the other.”
While artificial intelligence offers significant potential for margin expansion, El-Erian warns that capital requirements are colliding with severe fiscal pressures, noting the U.S. national debt hitting $40 trillion alongside rising debt-servicing costs.
Additionally, he views recent U.S. Treasury bond buybacks intended to lower long-term yields as merely a “band-aid” solution rather than a fundamental cure.
Regarding broader market dynamics, El-Erian sees trade protectionism, trade tariffs, and geopolitical risks as persistent threats. To successfully navigate this environment of microeconomic strength and macroeconomic turbulence, he emphasizes that investors and policymakers must adopt a “mix of agility and resilience” alongside a rigorous focus on liquidity.
Upcoming Economic Data
Here’s what investors will be keeping an eye on this week.
- No data is scheduled to be released on Monday.
- On Tuesday, June’s S&P Cotality Case-Shiller home price index data will be released by 9:00 a.m. ET.
- July’s new home sales data, along with August’s Conference Board consumer confidence index data, will be out by 10:00 a.m. ET.
- On Wednesday, July’s durable goods orders, second estimate Q2 GDP, July’s personal income, consumer spending, PCE price index, and core PCE price index data will all be released by 8:30 a.m. ET.
- On Thursday, initial jobless claims for the week ending Aug. 22, July’s advance U.S. trade balance in goods, wholesale inventories, and retail inventories data will all be out by 8:30 a.m. ET.
- August’s Kansas City Fed survey data will be released by 11:00 a.m. ET.
- On Friday, August’s Chicago PMI data will be released by 9:45 a.m. ET.
- August’s final University of Michigan consumer sentiment survey data will be out by 10:00 a.m. ET.
Commodities, Crypto, And Global Equity Markets
Crude Oil WTI futures were trading lower in the early New York session by 2.37% to hover around $85.00 per barrel.
Gold Spot US Dollar rose 0.89% to hover around $4,644.93 per ounce. The U.S. Dollar Index spot was 0.21% higher at the 99.0120 level.
Meanwhile, Bitcoin (CRYPTO: BTC) was trading 0.80% higher at $77,081.90 per coin over the last 24 hours.
Asian markets were lower on Monday, except Australia’s ASX 200 index. Hong Kong’s Hang Seng, China’s CSI 300, South Korea’s Kospi, India’s Nifty 50, and Japan’s Nikkei 225 indices fell. European markets were mostly mixed in early trading.
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