Nasdaq Composite Live: Markets Attempting to Recover from Post-Jobs Drop
Key Points
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Key earnings from Palantir, Disney, McDonald’s, Advanced Micro Devices, and Eli Lilly.
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This morning, Tyson Foods posted better-than-expected earnings. EPS of 91 cents was above expectations of 80 cents. Revenue of $13.88 billion was also above estimates of $13.54 billion.
Live Updates
Nasdaq up 300 at the Open
Despite a poor outing on Friday, the Nasdaq just opened 300 points higher. All as investors attempt to shake off trade war and job uncertainty.
The Dow Jones is up 340. The S&P 500 is up 61. Gold prices are up by $13.82 at $3,381.98. Oil is down $1.70 at $65.63.
Shares of Tesla Are Racing Higher in Pre-Market
Shares of Tesla (TSLA) are accelerating on news that the company just approved a compensation package for CEO Elon Musk, which consists of 96 million shares of restricted stock valued at about $29 billion.
On Semiconductor is down after issuing third-quarter guidance of 54 cents to 64 cents, with analysts expecting 58 cents. The lower end of the expected revenue of $1.465 billion to $1.565 billion also fell short of estimates of $1.50 billion.
Bank of America Reiterated a Buy Rating on Nvidia
After dropping late last week on jobs growth and tariff concerns, the Nasdaq is turning aggressively higher in the pre-market.
At the moment, it’s up 188 points at 23,073.75
Bank of America just reiterated its buy rating on Nvidia, noting it sees a strong beat/raise when it posts earnings later this month.
UBS just initiated a buy rating on Pony AI with a price target of $20.
Evercore ISI reiterated an outperform rating on Amazon, noting, “We reiterate our Outperform on AMZN in the wake of our proprietary research into Alexa+, Amazon’s AI Agent currently being rolled out to its Echo platform devices. We have tested Alexa+ on and off for two weeks now and have run our own proprietary survey of 1,350 current Smart Device owners,” as quoted by CNBC.
Markets were doing well until the latest tariffs and a slowdown in jobs created uncertainty.
Non-farm payrolls came in at 73,000 with prior months revised lower.
With the latest numbers, investors are digesting what it could mean for interest rates. At the moment, investors are betting on reduced chances for a September cut. Unfortunately, the probability of a September fell to 40%, according to the CME FedWatch tool.
With tariffs, Trump signed an executive order that modified reciprocal tariffs on dozens of countries, with updated duties ranging from 10% to 41%. It’s why the Dow dropped 542 points on Friday, why the S&P 500 shed 101, and why the NASDAQ lost 472 points.
This morning, in an attempt to brush off the negativity, the major indices are exploding in the pre-market. The Dow Jones is up about 192. The S&P 500 is up about 35, as the NASDAQ tacks on about 174 points. It’ll be interesting to see if they can hold the gains – especially with the latest tariffs, the potential for a worsening trade war, and jobs.
We also have to consider that August is historically a weak month for the Dow, heading back to 1988, according to CNBC. It’s the second-worst month for the S&P 500 and the Nasdaq.
Key Earnings are on Deck
Key earnings from Palantir, Disney, McDonald’s, Advanced Micro Devices, and Eli Lilly will also help decide the markets’ direction.
This morning, Tyson Foods posted better-than-expected earnings. EPS of 91 cents was above expectations of 80 cents. Revenue of $13.88 billion was also above the estimates of $13.54 billion. It also raised its revenue guidance for the full year, expecting an increase in production for certain meat products like chicken.
Berkshire Hathaway saw a year-over-year decline in operating earnings, which fell 4% to $11.16 billion. All thanks to week insurance writing.
Warren Buffett also warned that steep tariffs would hurt its business. “The pace of changes in these events, including tensions from developing international trade policies and tariffs, accelerated through the first six months of 2025,” Berkshire said in its earnings report. “Considerable uncertainty remains as to the ultimate outcome of these events.”
OPEC+ Just Agreed to Raise Oil Production
OPEC+ just agreed to raise oil production by 547,000 barrels per day for September. This is the latest in a series of accelerated output hikes to regain market share, especially with concerns mounting over potential supply disruptions linked to Russia.
“Given fairly strong oil prices at around $70, it does give OPEC+ some confidence about market fundamentals,” said Amrita Sen, co-founder of Energy Aspects, adding that the market structure was also indicating tight stocks, as quoted by CNBC.
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