Stock Market News for Aug 8, 2025
How Did The Benchmarks Perform?
The Dow Jones Industrial Average (DJI) shed 0.5% or 224.48 points to close at 43,968.64 points.
The S&P 500 declined 0.1%, or 5.06 points, to end at 6,340 points. Financials and healthcare stocks were the worst performers, while utilities and consumer staples stocks were the biggest gainers.
The Financials Select Sector SPDR (XLF) lost 1.1%, while the Healthcare Select Sector SPDR (XLV) fell 1.2%. The Consumer Staples Select Sector SPDR (XLP) gained 0.8%, while the Utilities Select Sector SPDR (XLU) gained 1.1. Six of the 11 sectors of the benchmark index ended in negative territory.
The tech-heavy Nasdaq jumped 0.4%, or 73.27 points, to finish at 21,242.70 points.
The fear gauge CBOE Volatility Index (VIX) was down 1.19% to 16.57. Decliners outnumbered advancers on the NYSE by a 1.01-to-1 ratio. On the NYSE, there were 232 new highs and 80 new lows.
On the Nasdaq, a 1.35-to-1 ratio favored declining issues as 1,944 stocks hit new highs and 2,622 hit new lows. A total of 17.40 billion shares were traded on Thursday, lower than the last 20-session average of 18.23 billion.
Investors Digest Earnings Reports
Thursday saw a volatile trading session, with all three major indexes making sharp swings. The Dow rose more than 300 points at its session high before giving back all its gains.
Caterpillar Inc. (
CAT
) was the biggest drag on the blue-chip index. The construction equipment maker missed earnings estimates and cited tariffs as a major reason impacting its business.
Caterpillar's shares ended 2.5% lower after it reported second-quarter 2025 earnings of $4.72 per share, missing the Zacks Consensus Estimate of $4.88 per share. Caterpillar currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Shares of Eli Lilly and Company (
LLY
) took a major hit on Thursday and weighed on the Dow despite the company beating on earnings. The pharmaceutical giant reported second-quarter 2025 earnings of $6.31 per share, surpassing the Zacks Consensus Estimate of $5.61 per share.
However, its shares plummeted 14.1% after the late-stage trial of its orforglipron drug disappointed investors.
Markets React to Trump's Chip Tariffs
Stocks initially rose on Thursday after Trump announced late Wednesday that he plans to impose 100% tariffs on semiconductor imports but would exempt chipmakers that manufacture in the United States. Shares of Advanced Micro Devices, Inc. (
AMD
) jumped 5.7%.
Shares of Apple Inc. (
AAPL
) gained 3.2% on Thursday, a day after gaining more than 5% after the iPhone maker pledged to boost its domestic manufacturing investment by $100 billion.
Before the session ended, Trump announced that he has nominated Stephen Miran, the current chairman of the Council of Economic Advisors, to join the Federal Reserve Board of Governors. Miran will take over the seat vacated by Adriana Kugler, who resigned on Friday. Earlier in the day, it was reported that Fed Governor Christopher Waller was Trump's top choice for the post of Federal Reserve Chairman.
Economic Data
The Labor Department reported that jobless claims totaled 226,000 for the week ending Aug. 2, an increase of 7,000 from the previous week. The four-week moving average was 220,750, a decrease of 500 from the previous week's revised average of 221,250.
Continuing claims came in at 1,974,000, an increase of 38,000 from the previous week's revised level of 1,936,000. The 4-week moving average was 1,951,750, an increase of 5,000 from the previous week's revised average of 1,946,750.
In other economic data released on Thursday, U.S. nonfarm productivity rose 2.4% in the second quarter of 2025, surpassing expectations of a rise of 1.9%. This is the strongest level since the third quarter of 2024.
Unit labor costs in the nonfarm business sector rose 1.6% in the second quarter of 2025, beating analysts' expectations of a rise of 1.3%.
Quantum Computing Stocks Set To Soar
Artificial intelligence has already reshaped the investment landscape, and its convergence with quantum computing could lead to the most significant wealth-building opportunities of our time.
Today, you have a chance to position your portfolio at the forefront of this technological revolution. In our urgent special report, Beyond AI: The Quantum Leap in Computing Power, you'll discover the little-known stocks we believe will win the quantum computing race and deliver massive gains to early investors.
Access the Report Free Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.
Apple Inc. (AAPL): Free Stock Analysis Report
Advanced Micro Devices, Inc. (AMD): Free Stock Analysis Report
Caterpillar Inc. (CAT): Free Stock Analysis Report
Eli Lilly and Company (LLY): Free Stock Analysis Report
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CTV News
an hour ago
- CTV News
Delta plane wing clips empty aircraft during pushback from gate in Atlanta
The company logo graces the side of a Delta Air Lines jetliner at Denver International Airport in Denver, on June 26, 2019. (AP Photo/David Zalubowski, File) ATLANTA — A Delta Air Lines plane clipped another aircraft while pushing back from the gate Sunday morning in Atlanta, the airline said. The wing of the plane 'reportedly made contact' with an empty aircraft, Delta said in a brief written statement to The Associated Press. The flight was scheduled to travel from Atlanta to Guatemala City, according to FlightAware, a website that tracks flight disruptions. Passengers were transferred to another plane following a delay. On board the commercial aircraft were 192 customers, two pilots and four flight attendants. No injuries were reported, according to Delta, which has its headquarters in Atlanta. Additional information on the incident was not immediately available.
Global News
3 hours ago
- Global News
Prime Minister Carney maintains positive approval rating despite summer cooldown: poll
See more sharing options Send this page to someone via email Share this item on Twitter Share this item via WhatsApp Share this item on Facebook A new poll suggests Prime Minister Mark Carney's popularity is cooling off in the summer, but still remains broadly positive. Abacus Data says the Carney-led Liberal government's approval dipped to 50 per cent in its latest polling, down two percentage points compared to mid-July and the lowest level since March. Canadians were surveyed in the week after U.S. President Donald Trump levied new 35 per cent tariffs on Canada — seemingly a consequence of failing to secure a new trade deal by the Aug. 1 deadline. 9:47 Canada-US trade war: Why can't Mark Carney get a deal done with Trump? Carney himself maintains a positive net approval rating despite a couple percentage points of mild cooling. Story continues below advertisement Abacus CEO David Coletto says the drop in popularity could be tied to a lack of perceived progress on key domestic files and ongoing high-profile international negotiations. Despite a modest cooldown for the Liberals, the polling firm says political preference has been largely unchanged through the summer.
Canada News.Net
5 hours ago
- Canada News.Net
US grants Nvidia clearance to restart China H20 chip shipments
WASHINGTON, D.C.: The U.S. Commerce Department has begun issuing licenses allowing Nvidia to ship its H20 chips to China, a U.S. official told Reuters, reopening access to a key market for the AI leader after months of restrictions. The decision follows Washington's reversal last month of an April ban on H20 sales. Nvidia developed the chip specifically for China to comply with Biden-era export controls on advanced AI hardware. Nvidia has warned the curbs would cut US$8 billion from its July-quarter sales. CEO Jensen Huang met with President Donald Trump this week, two sources familiar with the matter said. A spokesperson for Nvidia declined to comment, and the White House did not respond to a request for comment. In July, Nvidia said it had applied to resume H20 shipments and had been assured licenses would be granted soon. It remains unclear how many licenses have been issued, which Chinese firms can receive the chips, or the total value of shipments approved. Nvidia disclosed in April that it expected a $5.5 billion charge tied to the H20 restrictions, but later said the actual impact for the first quarter was $1 billion lower, as some materials were reused. The Financial Times first reported Friday's update. China has raised security concerns over the H20, prompting Nvidia to state last month that its products contain no "backdoors" enabling remote access or control. Exports of Nvidia's other advanced AI chips to China remain restricted under rules from successive U.S. administrations aimed at slowing Beijing's AI and defense development. While such curbs have limited U.S. companies' ability to meet surging demand from China, one of the largest semiconductor markets, the country still accounts for a significant share of American chipmakers' revenue. Huang has warned Nvidia's competitive edge could erode without Chinese sales, as domestic developers are courted by rivals like Huawei Technologies, which produces its own chips in China. In May, Nvidia said the H20 generated $4.6 billion in sales in the first quarter, with China contributing 12.5 percent of total revenue during that period.
