INTU and ZM After the Close: Is Software Regaining the Lead? 25/08/2026
Market Wrap
U.S. stocks ended mixed on Monday as weakness in semiconductors and other technology shares offset easing pressure from the Treasury market ahead of a catalyst-heavy week.
The S&P 500 slipped 0.3%, while the Nasdaq Composite declined 0.8% as investors trimmed exposure to technology and chip stocks. The Dow Jones Industrial Average bucked the trend, gaining 140 points, or 0.3%.
Treasury yields moved lower after reports that the Treasury Department could tap its roughly $1 trillion General Account to help finance an expansion of government bond purchases. The 10-year Treasury yield fell more than 3 basis points to around 4.70%, offering some relief after the recent surge in long-term borrowing costs.
Risk appetite remained cautious as investors continued to digest last week’s market pullback while positioning for several potentially significant catalysts. Nvidia (NVDA) reports after Wednesday’s close, with its results likely to provide an important test for AI-related sentiment and the broader technology sector.
Inflation will share the spotlight Wednesday, when July’s personal consumption expenditures price index is released. The data could shape expectations for the Federal Reserve’s next policy move after persistent inflation and elevated energy prices pushed markets toward a more hawkish rate outlook.
Attention will then shift to Jackson Hole on Friday, where Fed Chair Kevin Warsh is scheduled to speak at the central bank’s annual symposium. His comments will be closely scrutinized for signals on inflation, interest rates and the recent volatility in the Treasury market, particularly after the government unveiled measures aimed at containing long-dated yields.
Tuesday offers a lighter but still active slate. Bank of Montreal (BMO) and Dick’s Sporting Goods (DKS) report before the opening bell, followed by Intuit (INTU), Box (BOX) and Zoom Communications (ZM) after the close.
On the economic front, consumer confidence data due at 10 a.m. ET will provide the next read on household resilience. Investors will be watching for signs that higher borrowing costs and persistent price pressures are beginning to weigh more heavily on consumers — and what that could mean for growth and the Fed’s policy path.
Bitcoin Breaks $80,000 as Crypto Rally Accelerates
Bitcoin (BTC) surged above $80,000 on Tuesday as renewed institutional demand and improving risk appetite extended one of the cryptocurrency’s strongest rallies in years.
The token climbed more than 2% to around $80,500, building on last week’s more than 20% three-day surge — its biggest such advance since 2023. The initial move was fueled partly by a powerful short squeeze that wiped out more than $4 billion in bearish crypto positions.
Fresh ETF demand is now adding support. US spot bitcoin funds attracted about $1.9 billion in net inflows last week, their strongest weekly haul since October, while ether-focused products also saw renewed buying.
The rally has also benefited from lower Treasury yields following the government’s expanded purchases of longer-dated bonds, alongside concerns over inflation and rising US debt that have increased interest in scarce assets such as bitcoin.
Other cryptocurrencies joined the move, with Ether (ETH) trading near $2,500 and XRP (XRP) extending a roughly 50% weekly gain.
Analysts caution that bitcoin has struggled to sustain previous sharp rebounds, but stronger ETF flows, rising trading activity and increasingly bullish longer-dated options positioning suggest this move may have more staying power than a simple short-covering rally.
Stocks on the Move
- Alibaba (BABA): US-listed shares fell 2% after the company announced plans to issue $10.2 billion of new shares to non-US investors. Alibaba said the proceeds will be directed toward artificial-intelligence projects, with a particular focus on AI infrastructure.
- Chipmakers — iShares Semiconductor ETF (SOXX), Marvell Technology (MRVL), Advanced Micro Devices (AMD), Intel (INTC): Semiconductor shares started the week under pressure after the sector fell 5.5% last week. SOXX slipped nearly 2%, Marvell dropped about 3.5%, while AMD and Intel each fell roughly 2%.
- Memory stocks — Sandisk (SNDK), Western Digital (WDC), Seagate Technology (STX), Micron Technology (MU): Memory names also traded lower, with Sandisk down more than 5%, Western Digital and Seagate off nearly 4%, and Micron falling about 3.5%.
- Nucor (NUE), Steel Dynamics (STLD): Steelmakers moved higher after US-Canada trade negotiations collapsed. Nucor gained more than 4% and Steel Dynamics rose 3.5% ahead of Canadian retaliatory tariffs scheduled to begin Sept. 8.
- Robinhood (HOOD), Coinbase (COIN): Shares slipped about 1% as bitcoin paused near $77,000 following last week’s 22% rally. Both stocks had posted sharp gains during the three-day crypto surge.
Watchlist: COIN, MSTR, MARA, WDC, SNDK, MU, AMD, NVDA, INTU, BOX, DKS, ZM
Key Economic Events Today
Economic Data (EST)
- 9:00 AM — USD HPI
- 10:00 AM — USD Consumer Confidence
- 10:00 AM — USD New Home Sales
- 10:00 AM — USD Richmond Manufacturing Index
Earnings
Before Market Open: Bank of Montreal (BMO), Dick’s Sporting Goods (DKS), Vipshop Holdings (VIPS)
After Market Close: Intuit (INTU), Zoom Communications (ZM), Semtech Corp (SMTC), Box Inc. (BOX)
