Overview

• S&P 500 fell 0.4% to 6,370 for a fifth straight decline, the Dow dropped 0.34%, and the Nasdaq lost 0.34% at Thursday’s close.
• Big technology names retreated again, with AI valuation doubts reinforced by an MIT report and recent comments from OpenAI’s Sam Altman.
• Walmart missed quarterly profit expectations, its shares fell about 4%, and tariff-related costs were cited, pressuring the Dow and S&P 500.
• Investors prepared for Jerome Powell’s Jackson Hole speech on Friday, seeking cues on potential rate cuts after Fed communications and Raphael Bostic’s remarks kept a 2025 cut in play.
• In Mexico, equities traded higher ahead of Banxico minutes, and Grupo Herdez jumped about 25% after selling half its McCormick stake.