Good morning investors! Earnings are the focus again as investors enjoy great reports.
Today we cover:
Jobless claims fall
Big earnings beat
Nvidia takes new steps
📊 Economy and News
US Jobless Claims Fall; Goods Trade Deficit Widens
Initial unemployment claims fell 4,000 to a seasonally adjusted 203,000 for the week ended Aug. 22, below the 208,000 forecast and near the low end of this year’s range. Continued claims dropped 18,000 to 1.778 million.
The data points to a still-stable labor market, with the jobless rate recently at a low 4.1%. Sustained stability could let the Fed keep prioritizing inflation, which has stayed above its 2% target for 65 months.
Separately, the U.S. goods trade deficit widened to $118.8 billion in July from $101.4 billion in June, as exports fell 2.9% and imports rose 3.7%.
Global hits:
Canada adjusts counter-tariff list amid U.S. trade tensions.
Six EU nations call for cuts to bloc’s 2028-2034 budget plan.
Hong Kong home prices soft in July, first decline in 16 months.
Reminder: The typical U.S. asking rent reached $1,962 in July, up 2.3% from a year earlier, with August rents turning positive for the first time in four years.
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📈 Stocks
S&P 500 7,730.99 (+0.72%)
DJIA 53,569.44 (+0.21%)
NASDAQ 26,541.35 (+1.57%)
BRENT CRUDE 89.71 (+1.87%)
* Prices as of Aug 28th, 12:20 AM UTC
Salesfore and more announce earnings
Some major names announced earnings yesterday:
Gap announced a new CEO for Old Navy as Gap reported mixed results for its fiscal second quarter, beating analysts’ estimates for earnings per share but underperforming revenue expectations. The new CEO, Michael Francis, will take the reins of Old Navy beginning Nov. 2. He succeeds Haio Barbeito, who assumed the role in 2022. Across its brands — Banana Republic, Athleta, Old Navy and its namesake banner — Gap Inc. reported comparable sales down 1% for the quarter. It marked Old Navy’s first negative same-store sales figure since the second quarter of 2023 and was due in part to “unanticipated slowdown in traffic.” Gap said it received $95 million of tariff refunds during the quarter and used the funds to lower the costs of some of its products. The remainder of its tariff refund is expected in the third quarter
Salesforce skyrocketed 22%, notching its second-best day ever, after the company reported a beat on second-quarter earnings and expanded its partnership with Anthropic. Net income rose 87% from a year ago, coming in at $3.53 billion, or $4.29 a share, versus last year’s $1.89 billion, or $1.96 a share.
CrowdStrike shares surged after earnings showed that artificial intelligence adoption is pushing customers to spend more on cybersecurity tools. The company raised forecasts, citing the AI agent threat. Similarly, Okta had a great day, jumping 29%, thanks to a beat and higher guidance.
Interesting: Visa, Mastercard launch international card payments in Syria after US lifts terrorism designation.
UAE ‘spy sheikh’ backs 49% stake in Trump family’s crypto bank venture.
FDA approves daily HIV pill from Gilead designed to simplify treatment for some patients.
Anthropic announced the Model Hardware Standard, or MHS, a new interface that will make it simpler for AI agents to operate and communicate with physical machinery.
Nvidia says: Nvidia had a great day after a beat as the company remained in the news. It’s optimizing hardware for Chinese open AI models, including those made by DeepSeek and Alibaba. The chip giant, however, warned of business risks from potential Trump administration restrictions on AI developed by China as the US considers broader semiconductor tariffs. Moreover, the company has agreed to buy Hugging Face for $12.9 billion.
💵 Personal Finance
Why Credit Scores Matter
Credit scores matter because they serve as a financial report card that shapes access to opportunities and the cost of borrowing.
Lenders, landlords, insurers, and even some employers use credit scores to gauge risk. A strong score—typically 670 or higher—signals reliability and makes it far easier to qualify for mortgages, auto loans, credit cards, and personal loans. Weak scores often lead to denials or require larger down payments and co-signers.
Interest rates hinge heavily on these numbers. Borrowers with excellent scores secure lower rates, potentially saving tens of thousands of dollars over the life of a home or car loan. Those with poor scores face higher rates that inflate monthly payments and total interest paid. Credit card issuers also set limits and rewards based on scores, affecting everyday spending power and cash-flow flexibility.
Beyond lending, credit scores influence housing and insurance. Many landlords screen applicants, and insurers in some states adjust premiums according to credit-based scores. A low score can raise auto or homeowners insurance costs or complicate rental approvals. In certain industries, employers review credit as part of background checks for positions involving financial responsibility.
Ultimately, a healthy credit score expands options, reduces costs, and builds long-term financial resilience. Monitoring reports, paying bills on time, keeping utilization low, and avoiding unnecessary inquiries are practical steps that protect this critical measure of economic health.
💰 Be a Better Investor
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