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Wall Street ends on a mixed note as Dow gains despite semiconductor slump

Trade tensions, bond yields, Jackson Hole and a heavyweight earnings slate are all competing for attention

Proactive

4:20pm: Tariff concerns linger

Wall Street finished Monday on a mixed note, with renewed weakness in technology and semiconductor stocks pulling the Nasdaq and S&P 500 lower while the Dow Jones Industrial Average managed a modest gain.

The Dow rose 140 points, or 0.3%, to close at 53,417. The S&P 500 fell 22 points, or 0.3%, to 7,653, while the tech-heavy Nasdaq dropped 200 points, or 0.8%, to 25,980.

Chip stocks were among the biggest sources of pressure, extending concerns about a potential slowdown in the semiconductor sector and weighing heavily on the broader technology trade. The divergence left the blue-chip Dow outperforming its major index peers as investors rotated away from some of the market's biggest tech names.

Geopolitical uncertainty also added to the cautious mood after Treasury Secretary Scott Bessent announced "Operation Economic Outcast," a new series of expanded sanctions targeting Iran.

Bessent said the initiative is designed to "sever every economic lifeline" to Iran and isolate the country economically. Speaking at a Monday afternoon press conference, he said the measures would also target countries maintaining economic ties with the Iranian regime, warning they could be "removed from the US dollar system."

The developments added another layer of uncertainty for investors already navigating questions around tariffs, trade tensions and the outlook for global growth.

Attention now turns to another busy stretch of corporate earnings. Dick's Sporting Goods is due to report Tuesday morning, while Intuit and Zoom will release their results after the closing bell.

For now, Monday's session suggested investors remain willing to buy into parts of the market, but the latest tech sell-off showed that confidence remains fragile as geopolitical and trade risks continue to build.

3:45pm: Small cap wrap

2:35pm: Market movers

  • Expion Energy closed the first tranche of a $9 million private placement, with the potential to raise another $91 million, to fund its newly acquired oil and gas exploration assets in Eastern Louisiana, sending its shares up 97% in afternoon trading.
  • Bitmine Immersion (NASDAQ:IMMR) Technologies shares rose more than 7% after the company reported crypto and “moonshot” investments valued at $14.9 billion, including 5.85 million ETH and 210 Bitcoin, as of August 24, 2026.
  • MicroStrategy Incorporated (NASDAQ:MSTR) shares climbed 3.5% after the bitcoin-focused company raised roughly $2.01 billion in net proceeds through an at-the-market equity offering, bolstering its liquidity without selling any cryptocurrency holdings.
  • Tiziana Life Sciences Ltd (NASDAQ:TLSA) said it will present a poster on its Phase 2a BANYAN clinical trial of intranasal foralumab at ALS Nexus 2026 in Orlando during the event’s scientific poster session.

1:20pm: Good day for gold

Gold and bitcoin are enjoying another strong day, while technology stocks remain under pressure, says Chris Beauchamp, Chief Market Analyst at online trading and investing platform IG.

“The rallies in gold and bitcoin have continued on the first day of the new week as the shockwaves of Bessent’s Treasury market intervention continues to make themselves felt," Beauchamp commented.

"The word ‘debasement’ has been absent from market discussions for some time, but the rather odd moves in Washington seem to raise the spectre of the dollar being undermined once more. Its position as the dominant currency remains secure, but both bitcoin and gold bulls will be thanking the US Treasury for its interesting turn in fiscal policy.”

11:40am: Trump threatens auto tariffs

President Donald Trump said the US will raise tariffs on Canadian cars, trucks, auto parts and steel to 50% effective January 1, 2027, escalating trade tensions between the two countries.

In a post on Truth Social, Trump accused Canada of imposing unfair barriers on US agricultural products and said the bilateral trade relationship was unsustainable.

He added that goods manufactured in the US would face zero tariffs, while warning that Canada would “be treated like a State no longer.”

10:55am: Week ahead

Wall Street heads into one of the biggest weeks of the late summer, with Nvidia earnings, a key inflation reading and Federal Reserve Chairman Kevin Warsh’s first Jackson Hole appearance all likely to shape the outlook for stocks and bonds heading into September.

The timing could hardly be more important. Rising Treasury yields rattled markets last week, while concerns over US debt, elevated oil prices and renewed tariff tensions added to an already volatile backdrop.

The biggest corporate event comes Wednesday after the closing bell, when Nvidia (NASDAQ: NVDA) reports earnings.

Before Nvidia takes the spotlight, investors will get an important update on inflation.

The core PCE price index, the Fed’s preferred inflation measure, is due Wednesday morning. The report carries added significance after the Fed held rates steady last month despite three policymakers dissenting in favour of a hike.

Investors will also get fresh data on personal income and spending, durable goods orders and second-quarter GDP, providing a broader picture of economic momentum heading into the third quarter.

10:00am: Choppy start

Wall Street opened the week in a mixed and choppy mood, with the Dow edging higher while technology shares pulled the broader market lower.

The Dow Jones Industrial Average rose 105 points, or 0.2%, to 53,382. The S&P 500 fell 31 points, or 0.4%, to 7,643, while the Nasdaq dropped 254 points, or 1%, to 25,926.

Investors are bracing for what could be a consequential week for markets, with geopolitical developments, major tech earnings and fresh macroeconomic signals all competing for attention.

Oil prices eased as traders waited for more details on an upcoming US sanctions announcement. Brent crude and West Texas Intermediate futures both fell roughly 1.5% to 2%, with Brent trading near $91 a barrel and WTI around $85.

Meanwhile, the 10-year US Treasury yield ticked slightly lower to around 4.71%, offering some relief after last week's sharp move higher in long-dated yields.

Alibaba Group (NYSE:BABA) was among the notable tech decliners after the Chinese technology giant priced a HK$80 billion, or US$10.2 billion, equity placement to fund further investment in artificial intelligence. The company plans to issue 710 million new ordinary shares at HK$112.70 each, an 8.4% discount to Friday's closing price.

Alibaba said the proceeds will go toward expanding its full-stack AI capabilities, including computing infrastructure supporting its Qwen models and cloud services. Its US-listed shares were down about 1.4% shortly after the opening bell.

For now, investors appear to be in a holding pattern as they wait for the week's bigger catalysts, leaving the market split between a resilient Dow and renewed pressure on the tech-heavy Nasdaq.

8:00am: Trade rift deepens

Wall Street looks set for a softer start to the week, with futures pointing lower after US-Canada trade talks broke down over the weekend.

Dow futures were down 0.1%, while S&P 500 futures slipped 0.2% and Nasdaq futures fell 0.6%, putting technology stocks under the most pressure in early trading.

The sour mood follows a fresh escalation in trade tensions between Washington and Ottawa. The US imposed new tariffs on Canadian goods after negotiations broke down, prompting Canadian Prime Minister Mark Carney to suspend talks and vow retaliation with like-for-like tariffs.

Investors will also get a read on the Chicago Fed National Activity Index later today, with the previous reading coming in at -0.02. On the earnings front, Trip.com Group (NASDAQ) is due to report.

The bigger focus, however, will be on the week ahead. The Federal Reserve's Jackson Hole gathering could provide fresh clues on the outlook for interest rates and bond markets, although Swissquote senior analyst Ipek Ozkardeskaya cautioned that there are no easy fixes for rising US yields.

“Maybe this week’s Jackson Hole gathering will bring some clarity on how the Fed will fit into this, but in any case, US yields won’t magically fall while US debt keeps growing and Middle East tensions keep energy prices elevated,” she said.

Attention will also be on Treasury Secretary Scott Bessent, who is expected to unveil a fiscal consolidation plan as early as this week in what could be an attempt to get ahead of increasingly nervous bond markets.

“Whether investors will play along remains to be seen,” Ozkardeskaya added.

And then there is Nvidia. The chip giant is easily the biggest name on this week’s earnings calendar, with investors closely watching whether the AI heavyweight can continue to justify the enormous expectations surrounding the sector. Options traders are pricing in a move of roughly 4% in either direction following the results.

But Nvidia is not the only technology name in the spotlight. Salesforce, CrowdStrike, Intuit and Workday are also set to report, making this a busy week for a sector that remains central to the broader market's momentum.

With trade tensions, bond yields, Jackson Hole and a heavyweight earnings slate all competing for attention, investors may be in for another eventful week on Wall Street.