• Market recap: All 3 main indices fell premarket as Treasury yields climbed following yesterday's plunge. The 30-year yield surpassed 5.25% despite the Treasury Department's major expansion of repurchases. Source: CNBC.
• Moderna's massive gain: Moderna (MRNA) vaulted 177% in a single day on the back of its experimental mRNA drug's trial success. Shares fell 12% premarket. Source: NY Times.
• Crypto rides Trump wave: Bitcoin gained 5.2% and ether 9% as President Trump said he would buy Bitcoin and urged Congress to pass a crypto-friendly bill. Coinbase (COIN) popped 7% premarket, Strategy (MSTR) 11%, and Circle (CRCL) 7%. Sources: CNBC / Decrypt.
• Castelion hits $13B valuation: Missile startup Castelion raised more than $1B in a round led by Carlyle (CG), JPMorgan (JPM), and Andreessen Horowitz. The firm plans to scale hypersonic and air-defense missile production amid rising U.S. munitions demand. Carlyle gained 2%. Source: WSJ.
• Regeneron wins FDA approval: The FDA approved Regeneron’s (REGN) new drug for a rare genetic disorder, sending shares up 4%. Source: Reuters.
• OpenAI plans to go public next year: OpenAI CFO Sarah Friar said the company expects to go public in 2027 or sooner if growth accelerates. Its revenue run rate is up 35% quarter to date as it seeks to justify an $852B valuation. Source: CNBC.
• Apple cuts E.U. App Store fees: Apple (AAPL) will remove several European developer fees, lower its cut of in-app purchases, and allow more third-party app stores as it seeks to resolve a long-running antitrust dispute with regulators. Shares rose 2.2%. Source: NY Times.
• Australia taxes tech giants: Australia passed a law imposing a 2.5% levy on local ad revenue from Meta (META), Google (GOOGL), Microsoft (MSFT), and TikTok unless they strike qualifying deals with at least 8 Australian news publishers. Source: Reuters.
• Evergrande founder gets life sentence: Hui Ka Yan, founder of Chinese property behemoth Evergrande (HKG:6666), was sentenced to life in prison and had his property confiscated after pleading guilty to embezzlement and bribery. His former companies were fined $2.35B due to multiple crimes. Source: BBC.
• CK Hutchison seeks Panamanian damages: CK Hutchison (HKG:0001) is seeking more than $1.5B from Panama through arbitration, alleging treaty violations after the government seized 2 Panama Canal ports it runs. Source: AP.

• Walmart: Walmart (WMT) raised its full-year sales and EPS outlook after Q2 revenue beat estimates. The retailer has received nearly $2.9B in tariff refunds and plans to lower prices as a result. Still, shares fell 6% premarket. Source: CNBC.
• Estée Lauder: Estée Lauder (EL) forecast fiscal 2027 adjusted EPS of $3.10-$3.35 after quarterly sales and profit beat estimates, as strong luxury-fragrance and Chinese demand supported its turnaround. Shares popped 16%. Source: Reuters.
• Alibaba: Alibaba’s (BABA) net profit fell 76% to $1.57B as heavy AI investment weighed on earnings, while revenue rose 8.6%. Alibaba Cloud external revenue grew 45%, with AI-product sales posting triple-digit growth for a 12th straight quarter. Shares fell 3.5% premarket. Source: WSJ.
• Deere: John Deere (DE) raised its 2026 net income forecast to $4.75–$5.0B after quarterly profit rose for the first time in nearly 3 years, helped by strong demand tied partly to AI data-center spending. Shares rose 2.5% premarket. Source: Reuters.

• Prices tick upwards: Average U.S. diesel prices climbed to $5.50 per gallon, with California's diesel hitting $7 for the first time since June. The average gallon of gasoline hit $4.10 as oil climbed to $93 per barrel. Sources: CNBC / AAA / CNBC.
• Diesel metric hits record: The diesel crack spread — a measurement of refining profitability — surged to a record $102 per barrel, nearly 3 times pre-war levels. Source: CNN.

• Debt tops $40T: U.S. gross debt surpassed $40T as publicly held debt approached 100% of GDP — a level not seen since WWII. The total debt doubled in under 10 years. Sources: WSJ / Reuters.
• Fed minutes point toward tightening: Several Fed officials supported higher rates in July as inflation stayed elevated, with many seeing tightening as necessary if price pressures persist. Source: NY Times.
• Jobless claims: Seasonally adjusted initial jobless claims totaled 206,000 for the week ending Aug. 15, down 6,000 WoW. The 4-week moving average was 204,000, up 4,250 WoW. Source: Dept. of Labor.

• U.A.E. axes trade with Iran: The U.A.E. suspended all trade and financial transactions with Iran after reporting that 2 Iranian ballistic missiles entered its waters. Shortly afterwards, President Trump threatened severe economic action against Tehran. Sources: CNBC / WSJ.
• Israel opens Gaza criminal probes: Israel’s military opened its first criminal investigations into troop conduct in Gaza, examining the killings of 5-year-old Hind Rajab and her family, as well as 15 Palestinian paramedics. The government declined probes into several aid-worker deaths. Source: NPR.
• Helicopter crash kills Ecuador official: 5 Americans, plus Ecuadorian intelligence chief Michele Sensi-Contugi and his wife, were killed in a helicopter crash in Kenya. Authorities are investigating the cause. Source: NY Times.

• 8:30 AM: Initial Jobless Claims
• 8:30 AM: Philadelphia Fed Manufacturing Index

Walmart (WMT) has released its quarterly earnings.

• Revenue of $187.94B (+5.94% YoY) beats by $1.23B.
• EPS of $0.81 (+19.12% YoY) beats by $0.07.
• Financials · As Reported · Metrics · Press Release

Alibaba (BABA) has released its quarterly earnings.

• Revenue of $39.64B (+14.66% YoY) beats by $1.01B.
• EPS of $1.26 (-38.83% YoY) misses by $0.59.
• Financials · As Reported · Metrics · Press Release

Deere & Company (DE) has released its quarterly earnings.

• Revenue of $12.61B (+4.91% YoY) beats by $1.86B.
• EPS of $5.10 (+7.37% YoY) beats by $0.38.
• Financials · As Reported · Metrics · Press Release

NetEase (NTES) has released its quarterly earnings.

• Revenue of $4.44B (+13.96% YoY) beats by $137M.
• EPS of $1.77 (-14.49% YoY) misses by $0.51.
• Financials · As Reported · Metrics · Press Release

Ross Stores (ROST) will report today after close.

• Analysts estimate revenue of $5.98B (+8.17% YoY).
• EPS is estimated to be $1.82 (+16.67% YoY).
• Financials · As Reported · Metrics

Trip.com Group (TCOM) will report Monday.

• Analysts estimate revenue of $2.29B (+10.36% YoY).
• EPS is estimated to be $0.91 (-9.90% YoY).
• Financials · As Reported · Metrics

Intuit (INTU) will report Tuesday.

• Analysts estimate revenue of $4.27B (+11.44% YoY).
• EPS is estimated to be $3.30 (+20.00% YoY).
• Financials · As Reported · Metrics

HEICO (HEI) will report Tuesday.

• Analysts estimate revenue of $1.34B (+17.17% YoY).
• EPS is estimated to be $1.51 (+19.84% YoY).
• Financials · As Reported · Metrics

HEICO (HEI.A) will report Tuesday.

• Analysts estimate revenue of $1.34B (+17.17% YoY).
• EPS is estimated to be $1.51 (+19.84% YoY).
• Financials · As Reported · Metrics

Gold Fields (GFI) will report Tuesday.

• Analysts estimate revenue of $580M (-83.32% YoY).
• EPS is estimated to be $1.19 (+6.25% YoY).
• Financials · As Reported · Metrics

Zoom Video (ZM) will report Tuesday.

• Analysts estimate revenue of $1.27B (+4.28% YoY).
• EPS is estimated to be $1.38 (-9.80% YoY).
• Financials · As Reported · Metrics

NVIDIA (NVDA) will report Wednesday.

• Analysts estimate revenue of $91.89B (+96.59% YoY).
• EPS is estimated to be $2.07 (+99.04% YoY).
• Financials · As Reported · Metrics

Synopsys (SNPS) will report Wednesday.

• Analysts estimate revenue of $2.44B (+40.26% YoY).
• EPS is estimated to be $3.47 (+2.36% YoY).
• Financials · As Reported · Metrics

Agilent Technologies (A) will report Wednesday.

• Analysts estimate revenue of $1.84B (+5.94% YoY).
• EPS is estimated to be $1.48 (+8.03% YoY).
• Financials · As Reported · Metrics

Veeva Systems (VEEV) will report Wednesday.

• Analysts estimate revenue of $905.02M (+14.69% YoY).
• EPS is estimated to be $2.10 (+5.53% YoY).
• Financials · As Reported · Metrics

Everpure (P) will report Wednesday.

• Analysts estimate revenue of $1.10B (+27.72% YoY).
• EPS is estimated to be $0.50 (+16.28% YoY).
• Financials · As Reported · Metrics

Williams-Sonoma (WSM) will report Wednesday.

• Analysts estimate revenue of $1.92B (+4.29% YoY).
• EPS is estimated to be $2.03 (+1.50% YoY).
• Financials · As Reported · Metrics

• There are no remaining IPOs expected this week. To see all upcoming IPOs, check out our IPO calendar.