Stock Market Today: S&P 500, Nasdaq 100 Slip, But Dow Futures Rise—Intel, Palo Alto, Home Depot In Focus (UPDATED)

Author: Rishabh Mishra | August 19, 2025 08:47am

Editor’s Note: The future prices of benchmark tracking ETFs, the lede, and the latest economic releases were updated in the story.

U.S. stock futures were fluctuating on Tuesday following a mixed close on Monday. Futures of major benchmark indices were mixed.

In July, privately-owned housing starts were at a seasonally adjusted annual rate of 1,428,000, a 5.2% increase from June, according to the U.S. Census Bureau. Building permits, another key indicator of housing market activity, saw a slight decrease, falling by 5.7% to a rate of 1,354,000

President Donald Trump expressed readiness to host a trilateral meeting with Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskyy to end the three-year-long war in Ukraine.

Meanwhile, investors will focus on the earnings from top U.S. retailers, including Home Depot Inc. (NYSE:HD) today, Target Corp. (NYSE:TGT) on Wednesday and Walmart Inc. (NYSE:WMT) on Thursday.

The 10-year Treasury bond yielded 4.33% and the two-year bond was at 3.76%. The CME Group's FedWatch tool‘s projections show markets pricing an 83.1% likelihood of the Federal Reserve cutting the current interest rates for the Sept. 17 decision.

Futures	Change (+/-)
Dow Jones	0.01%
S&P 500	-0.06%
Nasdaq 100	-0.05%
Russell 2000	-0.16%

The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, were lower in premarket on Tuesday. The SPY was down 0.014% at $643.21, while the QQQ declined 0.085% to $576.62, according to Benzinga Pro data.

Cues From Last Session

Sectors recording the biggest losses on Monday included real estate, communication services, and materials, though industrials and consumer discretionary stocks bucked the trend to close higher.

The session followed a week of gains for major indices, where the Dow rose 1.74%, while the S&P 500 and Nasdaq climbed 0.94% and 0.81%, respectively.

In company-specific news, shares of Riskified Ltd. (NYSE:RSKD) plunged 16% after releasing second-quarter results. On the economic data front, the NAHB/Wells Fargo Housing Market Index for August slipped to 32, down from 33 in July and below market estimates of 34.

The Dow Jones index ended 34 points or 0.076% lower at 44,911.82, whereas the S&P 500 index fell 0.010% to 6,449.15. Nasdaq Composite advanced 0.031% to 21,629.77, and the small-cap gauge, Russell 2000, tumbled 0.35% to end at 2,294.47.

Index	Performance (+/-)	Value
Nasdaq Composite	-0.031%	21,629.77
S&P 500	-0.010%	6,449.15
Dow Jones	-0.076%	44,911.82
Russell 2000	-0.35%	2,294.47

Insights From Analysts

According to LPL Financial, the second-quarter earnings season has delivered powerful results that met some of the highest expectations. The report, authored by Chief Equity Strategist Jeffrey Buchbinder, highlights that corporate America has demonstrated remarkable resilience despite trade uncertainty and rising cost pressures.

This performance marks a significant shift from the first quarter, which was more “muddied by tariff uncertainty”. LPL Research notes several impressive achievements for the second quarter:

• S&P 500 earnings per share (EPS) growth is on track for nearly 12%, more than double the sub-5% consensus estimate from June 30.
• Revenue for the S&P 500 grew by 6.3%, which was over 2% higher than quarter-end expectations.
• A strong 81% of companies beat EPS estimates, surpassing the five-year average of 78%.
• The communication services, technology, and financials sectors produced the fastest earnings growth.

A key driver for this success was continued investment in artificial intelligence by mega-cap technology companies. The “Magnificent Seven” companies delivered nearly 30% earnings growth, and their planned capital expenditures are expected to boost productivity across many sectors.

While companies have so far managed tariff effects through cost cuts, price adjustments, and AI-driven efficiencies, LPL expects more cost pressures in the coming months. In its outlook, LPL’s Strategic and Tactical Asset Allocation Committee (STAAC) maintains a neutral stance on equities, citing that significant optimism is already priced into stock valuations. The committee continues to favor large-cap growth stocks and prefers the communication services and financials sectors.

See Also: How to Trade Futures

Economic Data

Here's what investors will be keeping an eye on Tuesday;

• Privately-owned housing units authorized by building permits in July stood at a seasonally adjusted annual rate of 1,354,000.
• Privately-owned housing starts in July came in at a seasonally adjusted annual rate of 1,428,000.

Stocks In Focus

• Intel Corp. (NASDAQ:INTC) jumped 6.42% in premarket on Tuesday as SoftBank Group agreed to invest $2 billion in the company. Additionally, the Trump administration is considering acquiring a 10% stake in the chipmaker.
• Palo Alto Networks Inc. (NASDAQ:PANW) climbed 5.58% after reporting better-than-expected financial results for the fourth quarter of fiscal 2025 and issuing strong guidance for fiscal 2026 after the market closed on Monday.
• Graphjet Technology (NASDAQ:GTI) popped 34.32% as its shareholders approved a share consolidation plan, selecting a 1-for-60 ratio for both issued and unissued ordinary shares.
• Laser Photonics Corp. (NASDAQ:LASE) surged 63.01% following its second-quarter earnings report, which showed a 317% year-over-year revenue increase.
• Fabrinet (NYSE:FN) dropped 10.02% despite reporting upbeat fourth-quarter financial results for fiscal 2025 on Monday. This comes as it expects fiscal first-quarter revenue to be in the range of $910 million to $950 million, versus estimates of $916.72 million.
• Home Depot Inc. (NYSE:HD) was up 0.45% as it is expected to report earnings before the opening bell. Analysts estimate earnings of $4.69 per share on revenue of $45.31 billion.
• Keysight Technologies Inc. (NYSE:KEYS) was 0.049% above the flat line as analysts expect it to report earnings of $1.67 per share on revenue of $1.32 billion after the closing bell.
• Toll Brothers Inc. (NYSE:TOL) was 0.17% higher as it is expected to report earnings after the closing bell. Analysts estimate earnings of $3.60 per share on revenue of $2.86 billion.
• Viking Therapeutics Inc. (NASDAQ:VKTX) rose 5.73% over the speculation that Eli Lilly & Co. (NYSE:LLY) might be considering acquiring the firm after its 40-year bond issuance.

Commodities, Gold, And Global Equity Markets

Crude oil futures were trading lower in the early New York session by 1.16% to hover around $61.97 per barrel.

Gold Spot US Dollar rose 0.17% to hover around $3,338.44 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was 0.12% lower at the 98.0530 level.

Asian markets ended lower on Tuesday, except the S&P BSE Sensex index. Hong Kong's Hang Seng, South Korea's Kospi, China’s CSI 300, Japan's Nikkei 225, and Australia's ASX 200 indices fell. European markets were higher in early trade.

Read Next:

• Eli Lilly Considering Viking Therapeutics Acquisition? Expert Says ‘They’re Setting Up For Something BIG’ As LLY Issues 40-Year Bond

Photo courtesy: Shutterstock

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