Friday, August 8, 2025
Pre-markets are off early-morning highs at this hour, but still in the green across the board. The Dow is +78 points, +0.18%, the S&P 500 is +14 points, +0.23%, the Nasdaq +40, +0.18% and the small-cap Russell 2000 +14, +0.64%. We’re higher across the board for the week, but mixed over the past month of trading: the Dow -0.79% and the Russell 2000 -0.41%, while the S&P 500 is +1.75% and the Nasdaq +2.80%.
Bond yields are ebbing back up, with the 10-year currently at +4.26%, +7 basis points (bps) from Tuesday, which had been the lowest we’d seen since late April, while the 2-year is at +3.75% — inching up slowly. This yield had been as low as +3.67% back during the week of “Liberation Day,” when President Trump announced his major tariff initiative. (The 2-year yield was +4.29% when Trump took over for his second non-sequential presidential term in late January.)
There is no Fed meeting (officially the Federal Open Market Committee [FOMC]) in August. Thus, we will need to wait another monthly cycle or two of economic data before seeing a rate cut from the 4.25-4.50% we’ve been at since December’s 25 bps cut. When mid-September’s FOMC meeting takes place, there is a more than 90% change it will cut interest rates at least another 25 bps.
We’re beyond most of the top-tier earnings reports this earnings season, but we still have a number of stocks to consider now that they have released quarterly figures. E-commerce grocery delivery company Instacart (aka Maplebear) CART beat earnings estimates by 2 cents to 41 cents per share — more than double the 20 cents per shared reported in the year-ago quarter. The Zacks Rank #2 (buy) company made $914 million in revenues for the quarter, +2.11% from the Zacks consensus. For more on CART’s earnings, click here.
Under Armour UAA, on the other hand, missed earnings estimates by a penny to +$0.02 per share on $1.13 billion in sales for the quarter, up +0.20% from analyst expectations. Tariff concerns are hampering the company’s guidance, however, and shares are dropping another -20% ahead of the open, following a -21.4% drop year to date. For more on UAA’s earnings, click here.
Wendy’s WEN beat on both top and bottom lines in its Q2 report this morning, with earnings of 29 cents per share improving by 4 cents over estimates for a +16% positive earnings surprise on $560.93 million in sales, +0.97% above analysts’ projections. Yet shares are just flat in pre-market trading, and the hamburger chain is -38.9% year to date. For more on WEN’s earnings, click here.
Entertainment membership firm Soho House SHCO, meanwhile, posted a +262% earnings beat this morning, swinging to a positive +13 cents per share from an estimated -8 cents. This makes three of four earnings beats over the last fiscal year of reports. Revenues of $329.8 million in the quarter, +6.73%, on +16% membership revenues year over year. Shares are also flat ahead of the bell, however, and -12.6% year to date. For more on SHCO’s earnings, click here.
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