| | | Market Snapshot
| Dow | 45514.95 | +114.09 | (0.25%) | | Nasdaq | 21798.70 | +98.31 | (0.45%) | | SP 500 | 6495.15 | +13.65 | (0.21%) | | 10-yr Note |
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| | NYSE | Adv 1512 | Dec 1243 | Vol 1.13 bln | | Nasdaq | Adv 2650 | Dec 1925 | Vol 8.50 bln |
Industry Watch
| Strong: Information Technology, Consumer Discretionary |
| | Weak: Health Care, Real Estate, Utilities, Energy, Financials, Materials, Consumer Staples, Communication Services |
Moving the Market
Market's await August PPI and CPI reports for inflation readings later in the week
Early mega-cap strength after Friday's retreat
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Modest mega-cap advance fuels record high for Nasdaq Composite
08-Sep-25 16:35 ET
Dow +114.09 at 45514.95, Nasdaq +98.31 at 21798.70, S&P +13.65 at 6495.15
[BRIEFING.COM] Early strength in the market’s top-weighted names lifted the Nasdaq Composite (+0.5%) to a record high of 21,885.62, while the S&P 500 (+0.2%) and DJIA (+0.3%) closed with more modest gains.
The information technology (+0.7%) and consumer discretionary (+0.5%) sectors led the way for the entirety of the session, supported by strong leadership in their mega-cap components. A flurry of late afternoon buying activity saw the materials (+0.2%) and industrials (+0.2%) sectors eke out a modest gain, while the financials sector finished on its flatline.
The Vanguard Mega Cap Growth ETF advanced 0.7%, with the mega-cap advantage helping the market-weighted S&P 500 (+0.2%) outperform the S&P 500 Equal Weighted Index (-0.1%).
A mix of semiconductor strength and earnings buzz kept the technology sector seated as the top-performing S&P 500 sector.
The PHLX Semiconductor Index closed with a 0.9% gain. Broadcom (AVGO 345.65, +10.76, +3.21%) was a notable standout, with the stock continuing to trade higher following the company's impressive earnings report Friday before the open.
Oracle (ORCL 238.50, +5.70, +2.45%) finished with a nice gain ahead of its own earnings report after the close tomorrow.
Meanwhile, Apple (AAPL 237.88, -1.81, -0.76%) traded lower ahead of the company's annual September showcase tomorrow, at which reports predict the company will unveil the iPhone 17 along with a slimmer model of the iPhone.
Within the consumer discretionary sector, Amazon's (AMZN 235.84, +3.51, +1.51%) advance was enough to offset a loss in Tesla (TSLA 347.34, -3.50, -1.00%), which traded lower following a report from Reuters that showed Tesla's U.S. market share has fallen to its lowest level since 2017 as the company faces increasing competition in the EV space.
The communication services sector (-0.3%) spent most of the day among the best-performing sectors, though it finished lower as Alphabet (GOOG 234.16, -1.01, -0.43%) ceded its early gain.
The sector also faced pressure in its telecom components T-Mobile US (TMUS 242.90, -9.86, -3.90%), Verizon (VZ 43.32, -1.06, -2.39%), and AT&T (T 28.92, -0.68, -2.28%) following EchoStar's (SATS 80.63, +13.39, +19.91%) $17 billion spectrum sale to SpaceX.
Smaller-cap indices had a subdued performance, with the Russell 2000 (+0.1%) shaking off early weakness to the tune of a slight gain, while the S&P Mid Cap 400 finished flat.
Ultimately there was not a great deal of conviction on the part of buyers or sellers today.
Breadth figures reflected this notion, with advancers outpacing decliners by a slim 5-to-4 margin on the NYSE and a roughly 13-to-9 margin on the Nasdaq.
Besides a 1.1% loss in the thinly traded utilities sector, gains and losses were limited to a maximum of 0.7% across the other ten S&P 500 sectors.
At the index level, the market benefitted from investors buying the dip in mega-cap names from Friday's retreat, with a lack of notable developments preserving but not furthering the early gains. The market now turns to the release of August PPI and CPI data as the next key drivers of market direction. Corporate headlines were otherwise relatively quiet, though Robinhood Markets (HOOD 117.28, +16.03, +15.83%) and AppLovin (APP 547.04, +56.80, +11.59%) traded sharply in response to their addition to the S&P 500 before the open on September 22.
U.S. Treasuries climbed to begin the week, with 10s and 30s adding to their big post-NFP gains from Friday while the short end started higher, but pulled back as the day went on. The 2-year note yield settled down two basis points to 3.49% and the 10-year note yield settled down four basis points to 4.05%.
- Nasdaq Composite: +12.9% YTD
- S&P 500: +10.4% YTD
- Russell 2000: +7.4% YTD
- DJIA: +7.0% YTD
- S&P Mid Cap 400: +5.6% YTD
Reviewing today's data:
- Consumer credit increased by $16.0 billion in July (Briefing.com consensus: $10.5 billion) following a downwardly revised $4.3 billion decline (from +$7.4 billion) in June.
- The key takeaway from the report is that the expansion in consumer credit was driven by revolving credit, which saw the largest jump since January 2024. That might be construed as a sign that consumers are using credit cards more to fund everyday purchases in the face of higher costs, but noticing the jump in nonrevolving credit in July suggests that may not be fully accurate in a broad sense.
July Consumer Credit Report
08-Sep-25 15:25 ET
Dow +38.56 at 45439.42, Nasdaq +86.27 at 21786.66, S&P +5.82 at 6487.32
[BRIEFING.COM] As the market enters the final half hour of today's action, the S&P 500 (+0.1%) and DJIA (+0.1%) defend their flatlines while the Nasdaq Composite (+0.4%) still holds a modest gain.
Consumer credit increased by $16.0 billion in July (Briefing.com consensus: $10.5 billion) following a downwardly revised $4.3 billion decline (from $7.4 billion) in June.
The key takeaway from the report is that the expansion in consumer credit was driven by revolving credit, which saw the largest jump since January 2024. That might be construed as a sign that consumers are using credit cards more to fund everyday purchases in the face of higher costs, but noticing the jump in nonrevolving credit in July suggests that may not be fully accurate in a broad sense.
Communication services sector gives up early gain
08-Sep-25 15:00 ET
Dow +68.86 at 45469.72, Nasdaq +110.30 at 21810.69, S&P +11.86 at 6493.36
[BRIEFING.COM] The S&P 500 (+0.2%), Nasdaq Composite (+0.5%), and DJIA (+0.2%) still hold on to the bulk of today's modest advance, though they now sit beneath earlier session highs.
While the communication services sector (-0.1%) sported a 0.7% gain earlier in the session, the sector now trades beneath its flatline.
The sector's biggest laggards are telecom names such as T-Mobile US (TMUS 243.52, -9.24, -3.66%), Verizon (VZ 43.34, -1.04, -2.35%), and AT&T (T 28.90, -0.70, -2.35%), which trade lower after EchoStar's (SATS 79.46, +12.22, +18.17%) $17 billion spectrum sale to SpaceX.
SpaceX's acquisition of EchoStar's spectrum gives it the ability to offer direct-to-cell satellite services under the Starlink brand, bypassing traditional cell towers and potentially weakening the coverage advantages of the aforementioned telecom names.
Separately, Alphabet (GOOG 234.48, -0.68, -0.29%) now faces a modest loss after advancing nearly 1.5% in the early going, though the stock's impressive rally after a favorable ruling in an antitrust case keeps its month-to-date gains at 10%.
Just released, consumer credit increased $16.0 billion in July (Briefing.com consensus: $10.5 billion), with the June reading downwardly revised to -$4.3 billion (from $7.4 billion).
S&P 500 gains modestly; GE Vernova and Uber climb on catalysts, Moderna slides
08-Sep-25 14:25 ET
Dow +7.39 at 45408.25, Nasdaq +118.66 at 21819.05, S&P +11.12 at 6492.62
[BRIEFING.COM] The S&P 500 (+0.17%) is in second place on Monday afternoon.
Briefly, S&P 500 constituents Take-Two (TTWO 249.30, +9.62, +4.01%), GE Vernova (GEV 604.77, +22.69, +3.90%), and Uber (UBER 94.17, +3.18, +3.49%) pepper the top of the standings. GEV rallies on a Goldman target bump to $715 (Buy), with UBER outperforming after news that the company would replace Charter Comms (CHTR 261.29, -0.21, -0.08%) in the S&P 100 later in the month.
Meanwhile, Moderna (MRNA 23.98, -1.16,- 4.61%) is today's worst laggard despite a dearth of corporate news.
Gold rises to fresh records on Fed cut bets, dollar weakness
08-Sep-25 14:00 ET
Dow -64.24 at 45336.62, Nasdaq +96.78 at 21797.17, S&P +4.23 at 6485.73
[BRIEFING.COM] The Nasdaq Composite (+0.45%) is in first place on Monday afternoon, about 97 points higher.
Gold futures settled $24.10 higher (+0.7%) at $3,677.40/oz, supported by heightened bets on a September Fed rate cut after Friday's weaker U.S. jobs data. Softer yields, dollar pressure, and continued central bank buying added to the move, pushing the yellow metal further into record territory.
Meanwhile, the U.S. Dollar Index is now down about -0.2% to $97.62.
Planet Labs launches higher following beat-and-raise Q2 report (PL)
Planet Labs (PL) is surging today after reporting its Q2 (Jul) results ahead of expectations and raising its FY26 revenue guidance, fueled by robust defense and intelligence demand and backlog growth.
- Revenue rose 20% yr/yr to a record $73.4 mln, marking another quarter of reaccelerating growth.
- RPO jumped 516% yr/yr to $690 mln, with 32% slated for the next 12 months.
- Backlog surged 245% yr/yr to $736 mln, up from $527 mln in Q1, with 35% applying to the next 12 months.
- Defense & Intelligence revenue grew 41% yr/yr; civil government fell 4% yr/yr; commercial up 6% yr/yr.
- FY26 revenue outlook raised to $281-289 mln (prior $265-280 mln).
Briefing.com Analyst Insight
This was an impressive quarter for Planet Labs. Following an upbeat Q1 back in early June that sent shares sharply higher, PL is keeping in form with another record revenue print and broad-based momentum. The surge in backlog and RPO provides strong visibility for sustained growth, while the company also reached another milestone with positive free cash flow a year ahead of schedule. While government contract lumpiness and heavy cap-ex remain near-term watch items, momentum in defense intelligence and commercial markets underscores PL's growing role in satellite data and AI-enabled insights.
AppLovin Makes a Big Move on S&P 500 Addition; Shines Spotlight on its Booming Ad Tech Business(APP)
AppLovin is surging to new all-time highs after news late Friday it will be added to the S&P 500 Index following the latest rebalancing. Inclusion is a major milestone, as it compels index-tracking funds to purchase shares and raises the company's visibility among institutional investors.
- The move comes after several other tech names were recently added, including The Trade Desk (TTD), Block (XYZ), and Interactive Brokers (IBKR). AppLovin joins Robinhood (HOOD) and Emcor (EME) as new entrants to the index.
- The company posted impressive Q2 results in early August, with revenue up 77.1% yr/yr to $1.26 bln. It also issued Q3 guidance above consensus.
- Growth is being powered by strong momentum in gaming advertising, an upgraded tech stack, and broader demand for its ad and analytics platforms.
- AppLovin's MAX Marketplace — offering real-time bidding and programmatic ad services — remains a core growth engine, enabling the company to sustain 20-30% yr/yr growth in its core gaming segment.
- Looking beyond gaming, APP recently launched its Axon Ads Manager, a self-service platform aimed at broader advertisers. It allows credit card billing, day-to-day campaign control, and automatic ad generation — all of which reduce friction and set the stage for the next phase of growth.
Briefing.com Analyst Insight:
AppLovin is finally getting its long-awaited moment in the sun with the S&P 500 inclusion — a catalyst that adds both buying pressure and prestige. The company has shown consistently strong growth, especially in gaming, and now looks poised to scale beyond that with the recent launch of Axon Ads Manager. With AI-driven ad tools and a booming MAX Marketplace, APP is executing well on both its current opportunity and long-term vision.
EchoStar soars as spectrum sale to SpaceX resolves FCC scrutiny and provides debt relief (SATS)
EchoStar’s (SATS) announced sale of its full portfolio of AWS-4 and H-block spectrum licenses to Elon Musk's SpaceX for approximately $17 bln has catalyzed a significant surge in its stock price, with shares soaring by 17% today and achieving a remarkable 170% increase since August 26, 2025, when the company disclosed a $23 bln spectrum sale to AT&T (T). These two transactions, totaling $40 bln, are pivotal in resolving ongoing inquiries from the Federal Communications Commission (FCC) regarding SAT’s compliance with its obligations to deploy 5G services across the United States.
- The FCC, led by Chairman Brendan Carr, had scrutinized SAT’s underutilization of its spectrum, particularly the 2 GHz and AWS-4 bands, following allegations from SpaceX that the spectrum was “barely used.” By divesting these licenses, SATS addresses regulatory pressures while unlocking substantial financial resources, positioning the company to stabilize its operations and fuel investor optimism.
- The financial implications of the SpaceX deal are profound for SATS, which is grappling with a strained balance sheet carrying over $24 bln in debt. The transaction, structured with up to $8.5 bln in cash and $8.5 bln in SpaceX stock (valued at $212 per share), provides immediate liquidity to retire certain debt obligations and fund ongoing operations across its DISH TV, Sling, Hughes, and Boost Mobile brands.
- Additionally, SpaceX’s commitment to cover approximately $2 bln in cash interest payments on SAT’s debt through November 2027 alleviates near-term financial pressures, reducing the risk of default after the company previously delayed about $500 mln in interest payments earlier this year.
- However, the sale of these spectrum licenses, critical for 5G deployment, limits SATS’ ability to independently expand its wireless network, forcing reliance on wholesale agreements with AT&T and T-Mobile (TMUS) for Boost Mobile’s connectivity. The DISH TV business continues to struggle amid a broader industry shift toward streaming platforms, with consistent subscriber losses reported over the past five years, further underscoring the necessity of these funds to sustain operations.
- For SpaceX, the acquisition of SAT’s AWS-4 and H-block spectrum licenses significantly enhances its Starlink Direct-to-Cell capabilities, enabling the development of next-generation satellites designed to eliminate mobile connectivity dead zones globally. The 50 MHz of spectrum in the 2 GHz band, previously underutilized by SATS, provides SpaceX with exclusive bandwidth to expand its satellite-to-phone services, positioning it to compete more effectively in the emerging direct-to-device market against players like AST SpaceMobile (ASTS).
- This deal also strengthens SpaceX’s partnership with TMUS and could accelerate its ability to offer ubiquitous texting, calling, and browsing services, particularly in underserved areas.
In conclusion, this transaction enables SATS to reduce its substantial debt burden and sustain operations, while empowering SpaceX to revolutionize global connectivity through enhanced Starlink services, signaling a transformative shift in the telecommunications landscape.
DocuSign Rebounds in Q2 with Bounce Back in Billings and IAM Momentum (DOCU)
DocuSign shares are bouncing back after an impressive Q2 (Jul) earnings report, featuring strong beats on EPS and revenue, along with a much-watched billings upside that eased investor concerns following a weak Q1.
- Revenue rose 8.8% yr/yr to $800.6 mln, beating estimates and marking one of the company's strongest growth quarters in two years.
- Billings surged 13% yr/yr to $818 mln, well above guidance of $757--767 mln.
- Full-year billings guidance was raised to $3.325-3.355 bln from $3.285-3.339 bln.
- Strength was led by the direct sales channel, particularly in eSignature, and growing momentum in IAM (Intelligent Agreement Management).
The sharp billings recovery followed a Q1 miss blamed on lower early renewals, so Q2's strength—fueled by increased direct demand, improved gross retention, early renewals, and more annual contracts—was well-received by investors.
IAM adoption continues to ramp, especially among commercial SMBs seeking faster sales cycles and better contract insights. Notably, over 50% of enterprise reps closed at least one IAM deal in Q2, suggesting early traction with larger clients.
Briefing.com Analyst Insight:
This was a much-needed rebound for DocuSign after Q1's billings stumble. While top-line growth and EPS were solid, investors were laser-focused on the sales pipeline—Q2 delivered on that front and more. With raised guidance, signs of improving retention, and growing IAM adoption across both SMB and enterprise, DOCU is beginning to regain investor confidence. Execution will be key, but momentum looks to be turning in its favor.
lululemon athletica tumbles as consumer and macro headwinds result in another EPS cut (LULU)
lululemon athletica (LULU) is under heavy pressure today after reporting its Q2 (Jul) results last night, despite a robust EPS beat, trading to a new 5-year low. Revenue came in on the soft side at $2.53 bln, and the 6.5% yr/yr increase was its slowest in over 4 years. The larger issue falls on its Q3 and FY26 EPS and revenue guidance; both were below consensus, with FY26 guidance being cut.. In particular, its FY26 EPS guidance has now been cut two consecutive quarters, with the cut this quarter much more significant (current guidance is now $12.77-12.97, down from $14.58-14.79).
- Its US business was particularly challenged. Premium athletic wear in the US continued its decline in Q2, and consumers are more selective, spending less on apparel overall, even more so in performance activewear, as noted by management. US revenue is now expected to decline 1-2% for the year.
- Management feels it has missed opportunities in new product launches, most notably in social and lounge, with product cycles running too long and failing to create new trends. It intends to increase new styles of its overall assortment to 35% from 23% by next spring. With many new players entering the performance activewear market, the heightened competition underscores the need for stronger differentiation.
- This is evidenced in its US comp of -4% (-3% CC), decelerating from -2% (-1% CC) in Q1 (Apr). Its international business accelerated with a comp of +15% (+13% CC), compared to +6% (+7% CC) in Q1, though still lower than the +22% comp in Q4 (Jan).
- There are growing concerns surrounding its business in China, its second largest market, with Q2 revenue coming in at the low end of its expectations and beginning to see signs of macro-driven headwinds in Tier 1 cities.
Briefing.com Analyst Insight
LULU's struggles highlight how exposed it is to the softening US consumer and to an increasingly competitive athletic wear landscape. The EPS cuts, particularly two consecutive downward revisions for FY26, are raising doubts about whether management's growth strategy is on track. Also, this marks the third steep drop in the stock on earnings in 2025, underscoring investor concern over recent performance. While international growth remains a bright spot, it is not enough to offset the weakness in its core US market, where trends in premium apparel are deteriorating. The missteps on innovation and product cycles underscore execution risks, and with new initiatives not expected until 2026, the near-term setup for the stock remains challenging.
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