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Market Headlines 👀 

• US consumer confidence rose to 103.3 in August, up from July which came in at 101.9.

• SuperMicro Computer (SMCI) stock plunges following a short report and it announces it will delay its annual report filing.

• Meta (META) company CEO Mark Zuckerberg admits to being pressured to censor content by the White House during the pandemic.

• Salesforce (CRM) company president and CFO has stepped down.

Earnings 💸

• Nvidia (NVDA)

  • EPS: $0.68 beats (exp. $0.64)

  • Revenue: $30b beats (exp. $28.7b)

• Crowdstrike (CRWD)

  • EPS: $1.04 beats (exp. $0.97)

  • Revenue: $963.9m beats (exp. $958.3m)

• Salesforce (CRM)

  • EPS: $2.56 beats (exp. $2.35)

  • Revenue: $9.3b beats (exp. $9.2b)

• Okta (OKTA)

  • Revenue: $646m

• Affirm holdings (AFRM)

  • Revenue: $659.2m

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S&P 500 Heatmap 🔥 

Recap Around the Street 🧠

10x the price, 10x the profits! Over the last four years, NVDA's stock’s price has skyrocketed 10-fold, but its P/E ratio hasn’t budged. Why? Because earnings have exploded just as fast. This isn’t just market hype—it's a business boom that’s keeping valuation steady while the stock soars. When price and profits grow in sync, it’s a win-win for investors, and all eyes are squarely on today's earnings report to see if they can keep it up. (Contributed by Jason Krutzky of Trendspider )

After a massive system failure led to the stock plummeting nearly 50% in just three weeks, CRWD finally found some relief at its 200-week SMA. Additionally, this drop led to a significant reduction in its P/E ratio to 76x earnings, a level which has acted as strong support over the last year. Will their recently announced collaboration with NVDA be enough to revive the stock, or is this just a dead cat bounce?  (Contributed by Jason Krutzky of Trendspider )

Buyers beware. Seasonality suggests that the next two months could bring rough waters for the markets. Looking back at SPY's election year performance over the last 25 years, September has only a 33% win rate with an average return of -2.95%, while October fares even worse with a 17% win rate and an average return of -3.62%. The outlook isn't much brighter for the QQQ, which has experienced a cumulative mean change of -9.5% over the same two-month period.

Market Preview 🎞️ 

• Thursday, August 29th: Weekly jobless claims; Q2 GDP second estimate; Pending home sales

• Thursday earnings: Ulta Beauty (ULTA), Lululemon (LULU), and Dell Technologies (DELL)

• Friday, August 30th: Personal consumer and spending (PCE); U. of Michigan final consumer sentiment

Enjoy reading?👇

That’s all for this week, folks! We’ll be back around the same time Tuesday with a curated list of important news, economic data and market highlights. 

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