Markets Ease After Record Highs

Major Indices Declined :

S&P 500 (SPX): -0.32% to 6,481.51

Dow Jones (DJI): -0.48% to 45,400.86

Russell 2000 (RUT): +0.48% to 2,391.05

On September 5, 2025, U.S. stock indexes closed slightly lower after hitting record highs earlier, following a weak jobs report that reinforced expectations of Federal Reserve rate cuts. The Dow Jones Industrial Average fell 0.5%, the S&P 500 dropped 0.3%, and the Nasdaq Composite was marginally lower. Despite Friday’s declines, the S&P 500 and Nasdaq posted weekly gains of 0.3% and 1.1%, respectively, while the Dow fell 0.3% for the second consecutive week.

The Bureau of Labor Statistics reported only 22,000 jobs added in August, below the expected 75,000, with the unemployment rate rising to 4.3%. This fueled bets on a Fed rate cut at the September 17 meeting, with the 10-year Treasury yield dropping to a five-month low of 4.06%.

Broadcom (AVGO) shares surged over 9% after strong quarterly results driven by AI demand and a new multibillion-dollar deal, reportedly with OpenAI. Tesla (TSLA) gained 3.6% after proposing a $1 trillion compensation package for CEO Elon Musk tied to ambitious performance targets.

Lululemon (LULU) plummeted nearly 19% after cutting its revenue forecast due to weak U.S. sales and tariff impacts, while Kenvue (KVUE) fell 9% following a report linking Tylenol use during pregnancy to autism. Other movers included Samsara (IOT), up over 17% on strong earnings, and DocuSign (DOCU), up 4.75% after exceeding revenue expectations.

Gold futures rose 0.9% to $3,640 an ounce, while oil futures prices fell 2.54% to $61.87 per barrel.

3:00 pm- Consumer credit (July) ($15.0B median forecast vs $7.4B previous)

The Dow declined -0.48%, closing at 45,400.86. Key support sits at 45,248.39; holding above could spark a rebound toward 45,510.79 and 45,698.33.

The index ended at 23,652.44. Key support lies at 23,535.99; holding above this level could open upside toward 23,748.55 and 23,863.81.

Closing at 6,481.50, the S&P is trading above support at 6,458.09. If buyers hold this level, potential upside targets are 6,503.44 and 6,532.65.

SPY was trading at $648.73 pre-market, with support at $646.16 and potential upside targets at $649.86 and $652.21.

QQQ was trading at $578.12 pre-market, with key support at $577.07. Holding above this level keeps upside targets in play at $580.83 and $582.09.

IWM was trading at $238.30 pre-market. Support is nearby at $237.77, while the potential upside level stands at $239.16.

SMH traded at $294.47 pre-market. Support lies at $292.40; a bounce could test $295.81 and $296.84.

SOXL was at $26.76 pre-market. Support at $26.56 must hold to fuel a move towards $26.95 and $27.26.

Earnings Outlook- Analysts anticipate Planet Labs' Q2 revenue to grow 8% year-on-year to $65.99 million, a slowdown from the 13.6% growth in the same quarter last year. Adjusted loss per share is expected to be -$0.04, following a strong Q1 where Planet Labs beat EPS estimates.

Recent Performance- In Q1 2026, Planet Labs reported $66.27 million in revenue, up 9.6% year-on-year, exceeding analysts’ expectations by 6.5%.

PL was trading at $7.00 pre-market. Support is at $6.80, while the potential upside levels stand at $7.10 and $7.245.

Q1 Earnings Expectations- Analysts forecast Casey’s General Stores to report an EPS of $5.06 and revenue of $4.48 billion for Q1 2025, reflecting 4% earnings growth and 9% sales growth year-over-year.

Full-Year 2025 Results- For fiscal 2025, Casey’s achieved an EPS of $14.64, EBITDA of $1.2 billion, and expanded by a record 270 stores, with a 14% dividend increase to $0.57 per share. With a market cap of $18.80 billion, Casey’s reported $16 billion in revenue, $796 million in operating profits, and $547 million in net income over the last 12 months.

FY2026 Guidance- Casey’s projects 10%–12% EBITDA growth, 2%–5% same-store inside sales growth, and stable fuel gallons sold for fiscal 2026.

CASY was trading at $511.75 pre-market. Support is at $509.21, while the potential upside levels stand at $513.70 and $515.78.

Earnings Outlook- Analysts expect Mission Produce’s Q3 revenue to decline 1.1% year-on-year to $320.4 million, a shift from the 23.9% growth in the same quarter last year. Adjusted earnings per share are projected at $0.15 for Q3, following a strong Q2 where Mission Produce exceeded EPS estimates.

Recent Performance- In Q2, Mission Produce reported $380.3 million in revenue, up 27.8% year-on-year, surpassing analysts’ expectations by 28.4%.

AVO was trading at $12.632 pre-market. Support is at $12.61, while the potential upside levels stand at $12.65 and $12.68.

Q2 Earnings- Mama's Creations is set to report Q2 results on September 8, with analysts expecting an EPS of $0.02, down 33.3% year-over-year.

Revenue Projections- Revenue is forecasted to reach $33.63 million, reflecting an 18.5% year-over-year increase.

MAMA was trading at $9.55 pre-market. Support is at $9.41, while the potential upside levels stand at $9.60 and $9.73.