Market Overview
Stock market information for SPDR S&P 500 ETF Trust (SPY)
- The price is 636.21 USD currently with a change of 3.96 USD (0.01%) from the previous close.
- The latest open price was 634.08 USD and the intraday volume is 49374300.
- The intraday high is 637.63 USD and the intraday low is 633.46 USD.
- The latest trade time is Friday, August 8, 20:45:34 +0100.
Stock market information for Bitcoin (BTC)
- The price is 116449.0 USD currently with a change of -990.00 USD (-0.01%) from the previous close.
- The intraday high is 117596.0 USD and the intraday low is 115978.0 USD.
Stock market information for Ethereum (ETH)
- The price is 4053.4 USD currently with a change of 189.45 USD (0.05%) from the previous close.
- The intraday high is 4054.24 USD and the intraday low is 3856.53 USD.
U.S. equities closed higher on Friday, extending a week of gains. The Dow rose approximately 221–243 points (about 0.5–0.6%), the S&P 500 gained 0.8%, and the Nasdaq hit record highs with a 0.9% jump (apnews.com). In crypto markets, Bitcoin slipped slightly, trading near $116,450, while Ethereum was up modestly at around $4,053 (barrons.com).
Key Topics
Fed Signals Possible Rate Cut Following Interim Appointment
President Trump’s nomination of Stephen Miran to the Federal Reserve board fueled expectations of a more dovish rate policy, with markets pricing in a 90% probability of a rate cut in September and two cuts by year‑end (reuters.com).
Tech Stocks Lead the Rally
Technology stocks led Friday’s gains—Apple climbed over 4%, Alphabet rose more than 2%, and SoundHound AI soared 30% on a surge in quarterly revenue (investors.com). The tech-driven Nasdaq reached another all-time closing high (apnews.com, investors.com).
Strong Earnings Boost Sentiment
Gilead Sciences jumped 8% after beating earnings expectations and raising its forecast. Expedia posted a near 4% rally. Conversely, Trade Desk and Pinterest fell sharply post-results (apnews.com).
Gold Near Record Levels Amid Trade Tensions
Gold futures climbed toward record levels near $3,500 per troy ounce, buoyed by concerns over U.S. tariffs on Swiss gold bars—compounding uncertainty in the precious metals market (wsj.com).
Oil Prices Slip on Truce Hopes
Oil prices declined amid reports of a potential U.S.–Russia truce deal, although broader geopolitical tensions and trade developments continue to influence energy markets (reuters.com).
Inflation Data in Focus for Next Week
Investors are closely watching the upcoming U.S. Consumer Price Index (CPI) for July. Elevated inflation could derail rate-cut expectations and expose the market to valuation concerns and volatility (reuters.com).
Weekly Equity Performance
U.S. indexes are poised for their first weekly gain in four, supported by upbeat earnings and easing tariff fears. The Nasdaq posted the strongest weekly advance among the major indices (apnews.com).
Futures Signal Positive Open
S&P and Dow futures rose ~0.3–0.34% Friday, reflecting bullish sentiment ahead of the open. Pre-market movers included Expedia (+16%), Monster Beverage, and Maplebear; Trade Desk and Twilio lagged (barrons.com).
Sector Rotation: Consumer Discretionary Outperforms
With optimism gripped by Fed dovishness, consumer discretionary stocks outperformed. Healthcare lagged—particularly after Eli Lilly’s disappointing trial results (reuters.com).
Resilience Amid Trade Policy Shifts
Markets shrugged off tariff-related uncertainty after Trump’s Fed shake-up and trade adjustments. European shares posted their biggest weekly gain in 12 weeks, buoyed by banking stocks (reuters.com).
Market Movers (Bullet Points)
- Apple: +4% as tech leadership continues to support indices
- SoundHound AI: +30% after a 200% quarterly revenue surge
- Gilead Sciences: +8% on better-than-expected earnings and raised guidance
- Expedia: +3.9% following earnings beat
- Trade Desk: –31% due to weak guidance
- Pinterest: Sharp decline after earnings miss
- Gold: Nearing record highs amid tariff fears
- Oil: Slight decline on hopes for U.S.–Russia truce
- Futures: S&P, Dow, Nasdaq up ~0.3–0.34% pre-market
Takeaway for Investors
Insight: Markets are rallying on the expectation of Fed rate easing and continued strength in tech earnings. However, investors should remain vigilant as the CPI report may reshape the outlook. Reassess equity exposure in technology and discretionary sectors, but consider diversification into defensive assets like gold if inflation surprises to the upside.