Stock Market Midday, Aug. 25: Tech Stocks Rebound and Dick’s Sporting Goods Plummets 27%

As of 11:36 AM ET, the Nasdaq Composite (^IXIC +0.58%) is up 0.58% to 26,126 as tech selling pressure eases, while the S&P 500 (^GSPC +0.26%) has climbed 0.23% to 7,670, and the Dow Jones Industrial Average (^DJI +0.14%) is up 0.07% to 53,452.

Gold is trading up 0.38% at $4,657.45, while the 10-Year Treasury yield fell 0.07% to 4.64%. Utility and financial stocks are in the green, above the lagging industrials and energy sectors.

Today’s biggest moves

Moderna surged over 12% this morning. The stock had declined slightly after a massive jump last week, driven by positive trial results for a personalized cancer vaccine. Advanced Micro Devices gained on an analyst upgrade. Conversely, Dick’s Sporting Goods plummeted more than 27% following its earnings report.

What this means for investors

Major U.S. indexes rose this morning, despite escalating tariff tensions between the U.S. and Canada, as falling crude oil prices somewhat eased inflation fears. The 10-year U.S. Treasury yield retreated further from an almost two-decade high, easing pressure on equities.

Meanwhile, Bitcoin soared above $80,000 for the first time in three months amid a dramatic rally triggered by the Treasury’s expanded bond-buyback announcement. Crypto stocks, including Robinhood Markets and Coinbase Global, gained as digital asset sentiment swung back to the positive.

This morning’s gains are a positive sign, but the two big events to watch this week are earnings from Nvidia tomorrow and Federal Reserve Chair Kevin Warsh’s Jackson Hole speech on Friday. One will give a clearer picture of demand for artificial intelligence (AI), and the other may give hints about potential changes in interest rates.