There’s a strange mix of confidence and caution running through today’s news. Companies are making bigger bets, executives are putting real money behind their convictions, and Wall Street is discovering that even great results aren’t always good enough.
Beyond the markets, a decades-long medical pursuit just crossed an important threshold, AI is taking another step out of the digital world, and the next few days could reshape some of the biggest narratives heading into September.
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Futures at a Glance📈
Futures are mixed after Thursday’s tech rally, with growth names giving back some ground as traders await Fed Chair Kevin Warsh’s Jackson Hole speech. Nvidia is cooling after its post-earnings surge, while softer oil prices are offering some relief on the inflation front.
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What to Watch
Earnings (Premarket):
· Frontline Plc [FRO]
· Hafnia Limited [HAFN]
· BW LPG Limited [BWLP]
· MINISO Group Holding Limited [MNSO]
· Chagee Holdings Limited [CHA]
· Jiayin Group Inc. [JFIN]
· Nano Labs Ltd [NA]
Earnings (Time Not Supplied):
· BOXABL, Inc. [BXBL]
· NioCorp Developments Ltd. [NB]
· CleanCore Solutions Inc. [ZONE]
Economic Reports:
· Chicago PMI (August): 9:45 am
· University of Michigan final consumer sentiment (August): 10:00 am
· Federal Reserve Chair Kevin Warsh speaks at Jackson Hole: 10:00 am
Elite Trade Club Insider
A CEO Has Sold $343 Million This Month, While Another Just Bought $1.9 Million Near The Low
You’re looking at one AI infrastructure winner still trading close to its yearly high and one consumer stock sitting near the bottom of its range. Elite Trade Club Insider readers are seeing where the CEOs are moving in opposite directions: one has now sold roughly $343 million during August, while the other voluntarily put $1.89 million of fresh capital into his struggling stock.
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Market Pulse
The Market’s Next Test Moves From Inflation to Jobs
With second-quarter earnings largely in the books, Wall Street is already turning toward next week’s employment report and Broadcom earnings. Corporate profits are tracking their strongest growth in years, but July’s surprise decline in employment means another weak labor reading could challenge the soft-landing narrative just as the Fed weighs its September decision.
Europe’s Rate-Hike Cycle May Not Be Finished
European Central Bank officials viewed July’s decision to hold rates as a pause rather than the end of tightening, with another increase considered likely unless inflation improves materially. Corporate lending is also growing at its fastest pace in more than three years, giving policymakers more room to focus on prices without immediately choking off economic activity.
Retail & Payments
Gap’s Comeback Is Working, but Old Navy Needs Help
Gap raised its annual profit forecast and installed a new CEO at Old Navy after another strong quarter for its namesake brand. Gap comparable sales rose 10%, marking an eleventh consecutive quarter of growth, but declines at Old Navy and Athleta show that CEO Richard Dickson’s turnaround still has plenty of unfinished business.
PayPal’s $53 Billion Escape Puts the Turnaround Back on Trial
Advent International and Stripe have reportedly abandoned their pursuit of PayPal after the company rejected a roughly $53 billion offer as inadequate. PayPal is now back to proving the value of that decision through execution, with management betting that cost cuts, higher-margin products, and renewed growth can justify holding out for substantially more.
Chips & Memory
Marvell Learns That $120 Billion Still Isn’t Fast Enough
Marvell raised its fiscal 2027 and 2028 revenue forecasts as custom AI-chip demand continued to accelerate, but investors wanted a quicker payoff from its massive Google agreement. Management expects the deal to contribute much more heavily beginning in fiscal 2029, another reminder that even enormous AI contracts can disappoint when expectations get ahead of the revenue timeline.
SK Hynix Thinks the Memory Shortage Could Last Through 2030
SK Hynix plans to begin mass-producing next-generation HBM4E memory in Indiana in 2029 as part of a more than $4 billion U.S. expansion. Management sees the current memory shortage persisting through the end of 2030, reinforcing the idea that high-bandwidth memory could remain one of the AI buildout’s tightest supply bottlenecks for years.
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Healthcare & Finance
Moderna and Merck Finally Crack the Cancer-Vaccine Problem
An experimental personalized cancer vaccine from Moderna and Merck has become the first therapeutic cancer vaccine to succeed in late-stage testing after more than a century of failed attempts. The mRNA treatment helped prevent melanoma from returning or spreading, potentially giving Moderna a major post-COVID growth engine while helping Merck prepare for Keytruda’s eventual patent expiration.
Canada’s Big Banks Sweep Earnings Season
RBC, TD, and CIBC all beat quarterly profit expectations, completing an earnings season in which all six major Canadian banks topped analyst forecasts. Capital markets, trading, wealth management, and stronger U.S. operations did much of the work, showing how diversification is helping the sector absorb softer domestic lending and continued trade uncertainty.
AI & Mobility
Anthropic Wants AI Agents Operating the Machines
Anthropic unveiled a new standard connecting AI agents directly with physical equipment such as microscopes, robotic arms, and laboratory instruments. The framework could allow autonomous systems to run experiments and manufacturing workflows around the clock, pushing agentic AI beyond software and into the physical infrastructure of science and industry.
Didi Puts Another $200 Million Behind Latin America
Chinese ride-hailing giant Didi plans to invest more than $200 million in Argentina this year as it expands into smaller cities, motorcycle rides, and last-mile transportation. The company already operates in more than 350 locations there, making Argentina an increasingly important piece of its strategy to build a larger international business beyond China.
Poll: Which financial metric do you think is most abused by companies trying to make results look better than they are?
- Adjusted EBITDA — "adjusted" is doing an enormous amount of work in most earnings releases
- Non-GAAP EPS — stock-based compensation is a real cost and it's being stripped out everywhere
- "Recurring revenue" — the definition varies wildly from company to company
- Free cash flow — the capex classification games that shift maintenance into "growth" investment
Movers and Shakers
Solstice Advanced Materials [SOLS]: Premarket Move: +16%
Solstice Advanced Materials surged after scrapping its planned $14.5 billion merger with Element Solutions and announcing a new $500 million share repurchase program. The companies said shareholder feedback helped drive the decision, while Solstice also reaffirmed its recently raised 2026 outlook, giving traders several reasons to welcome its return to a standalone strategy.
Rubrik [RBRK]: Premarket Move: −6%
Rubrik slipped despite second-quarter results that comfortably beat Wall Street expectations and prompted management to raise its full-year guidance. Revenue jumped 38% to $427.3 million and subscription ARR climbed 33% to $1.66 billion, but with the stock already up sharply this year, the strong numbers were not enough to clear the market’s elevated expectations.
Affirm [AFRM]: Premarket Move: +13%
Affirm jumped after fourth-quarter results showed another acceleration in spending across its buy-now-pay-later platform. Revenue increased 33% to $1.2 billion, while gross merchandise volume surged 36% to $14.1 billion, beating expectations and helping put the company on track toward its longer-term goal of $100 billion in annual GMV.
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Everything Else
🏦 Analysts tracking institutional flow have identified 10 stocks drawing serious capital right now as Wall Street builds positions ahead of what could be a pivotal second half of 2026..
⛏️ Harmony Gold declared a record annual dividend after profit jumped 87%, helped by stronger gold prices despite lower production.
🧪 Solstice Advanced Materials authorized its first $500 million buyback after scrapping its planned merger with Element Solutions and reaffirming its growth outlook.
🏦 Royal Bank, TD and CIBC all beat quarterly estimates as stronger capital-markets and wealth-management earnings reinforced the resilience of Canada’s largest banks.
💳 TD Bank reported a record wholesale profit as trading, underwriting and lending activity drove a sharp increase in quarterly earnings.
🥃 Pernod Ricard’s high dividend payout is coming under scrutiny as weaker sales and elevated debt increase pressure on management to preserve cash.
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