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2h ago

Markets Hold Steady Before Jackson Hole With Retail Tests Ahead and SoftBank’s Intel Stake in Focus

Futures imply high odds of a September rate cut.

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Ukrainian President Volodymyr Zelenskiy meets some of the European leaders at the Ukrainian Embassy, ahead of their meeting with U.S. President Donald Trump, in Washington, D.C., U.S., August 18, 2025. Italian Prime Ministry /Handout via REUTERS/File Photo
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., August 18, 2025. REUTERS/Brendan McDermid/File Photo
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Overview

  • U.S. stock futures were little changed as investors looked to Jerome Powell’s Jackson Hole speech and a heavy week of retailer results, with the S&P 500 hovering near recent records.
  • Interest-rate markets put the probability of a 25-basis-point September cut at roughly 80%, and Fed Vice Chair for Supervision Michelle Bowman was set to speak later after previously backing at least three cuts this year.
  • Home Depot’s second-quarter profit slightly missed expectations while sales rose, with earnings from Lowe’s, Target and Walmart still to come as a read on consumer demand.
  • SoftBank agreed to buy $2 billion of Intel stock at $23 a share, lifting Intel by about 5%–6% as SoftBank fell roughly 4%–5% in Tokyo trading.
  • Palo Alto Networks climbed about 5% after topping estimates and issuing an upbeat outlook tied to demand for its AI-powered cybersecurity products.