- U.S. stocks advanced on Friday, driven by a broad market upward trend with the Dow Jones index gaining around 350 points.
- Crypto-related equities such as MARA Holdings and Coinbase Global experienced significant gains as Bitcoin prices traded higher by approximately 7% in the morning session.
- Various individual companies also moved higher due to specific corporate developments, earnings reports, analyst upgrades, or acquisition speculation.
- Major U.S. indices sold off on Thursday amid rising Treasury yields, drawing investor attention to several notable stocks including Walmart, Ross Stores, Advance Auto Parts, MARA Holdings, and SpaceX.
- Walmart shares fell 9.15% following slow U.S. sales growth and weak third-quarter guidance, whereas Ross Stores rose post-market after beating second-quarter estimates and raising its full-year outlook.
- Advance Auto Parts dropped 24.55% despite beating earnings, MARA Holdings surged 15.54% alongside Bitcoin’s rally, and SpaceX declined 4.05% after CEO Elon Musk denied acquisition rumors.
- On August 20, US stocks experienced significant fluctuations, with Moderna plunging over 23 % and Walmart dropping more than 9 %, while the cryptocurrency sector rallied across the board.
- Major tech and Chinese concept stocks showed mixed performances, driven by individual earnings reports and corporate updates.
- Macroeconomic factors such as the Federal Reserve's hawkish 7-month minutes and lower-than-expected initial jobless claims heightened market expectations for interest rate hikes.
- The S&P 500 ETF and Nasdaq 100 ETF experienced mixed results amid Treasury Secretary Scott Bessent's plan to double U.S. Treasury long-term bond buybacks to $4 billion to calm rising yields.
- President Trump delayed a 50% tariff rate on Canada for 3 days to negotiate a trade deal that may revive the Keystone XL Pipeline.
- Moderna shares surged following positive late-stage melanoma vaccine results, while AI stocks faced downward pressure and cryptocurrency equities rallied alongside Bitcoin.