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2Q GDP, Jobless Claims, NVDA Aftermath
Tom White
August 28, 2025
U.S. stock futures are relatively flat ahead of the Wall Street open after the S&P 500 (SPX) settled at a record high close on Wednesday.
Nvidia (NVDA) earnings topped estimates last night but data center growth came in a bit light which has the stock under modest pressure. The company is still growing over 50% on their guidance at a $50B quarterly revenue run rate and said there were no sales of H20 chips to China during the quarter. The stock has bounced off of lows seen post earnings but is still pressuring the tech sector this morning.
Investor focus turns to economic data today with reports due on the second read of 2Q GDP and Jobless Claims.
Morning Movers
Snapshot (as of 7:30AM ET)
Oil (/CL) – Oil prices are down 0.2% near $64 a barrel, after rising in the previous session, as investors watched for fresh developments in the Ukraine war and weighed an industry report that showed another drop in U.S. crude inventories.
Gold (/GC) – Gold prices are up 0.3% near $3460 and hit over 2-week highs overnight after the dollar came off highs.
Bitcoin (/BTC) – The Crypto Future is up 0.8% near $113,000 in premarket trading.
VIX – The CBOE Volatility Index was up 1.6% on Wednesday and settled at 14.85 as stocks were muted into NVDA earnings.
U.S. Dollar (/DX) – The dollar is about 0.3% lower at 97.9.
Biggest Premarket Movers
Symbol | Product | Mark % Change (as of 7:30AM ET) |
|---|---|---|
DG | Dollar General | +4.99% |
BF/B | Brown Forman | +3.45% |
DLTR | Dollar Tree | +2.80% |
COO | Cooper Companies | -16.33% |
HRL | Hormel Foods | -9.37% |
NTAP | NetApp | -7.25% |
Economic Data
Time | Event |
|---|---|
8:30AM ET | 2Q GDP - 2nd Read Jobless Claims |
10:00AM ET | Pending Home Sales |
10:30AM ET | Natural Gas Inventories |
11:00AM ET | Kansas City Fed Mfg. Index |
1:00PM ET | 7-Year Note Auction |
Notable Earnings
Premarket | Postmarket | Premarket Tomorrow | Postmarket Tomorrow |
|---|---|---|---|
BBWI, BBY, BF/B, BURL, DKS, DG, HRL, LI, OLLI, TD, TITN, VSCO | AFRM, AMBA, ADSK, DELL, GAP, MRVL, WOOF, S, ULTA, BULL | BABA, DOOO, FRO | None |
Upgrades/Downgrades
UBS upgrades Wynn Resorts (WYNN) to Buy from Neutral
Telsey Advisory upgrades Five Below (FIVE) to Outperform from Market Perform
Gordon Haskett upgrades Kohl’s (KSS) to Accumulate from Hold
Piper Sandler downgrades Bill (BILL) to Neutral from Overweight
Citi downgrades Cooper Companies (COO) to Neutral from Buy
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