Tech Strength Lifts Nasdaq to Record Close

Major Indices Declined:

S&P 500 (SPX): -0.05% to 6,584.28

Dow Jones (DJI): -0.59% to 45,834.22

Russell 2000 (RUT): -1.01% to 2,397.06

The Dow slipped 0.6% on Friday but still ended the week up about 1%, while the S&P 500 dipped 0.1% yet gained 1.6% for the week. The Nasdaq Composite rose 0.4% to close at a fresh record, advancing nearly 2% for the week. Inflation data was mixed, with wholesale prices unexpectedly falling but consumer inflation accelerating at its fastest pace since January. Despite the mixed signals, markets still expect the Federal Reserve to cut rates at its meeting this week as labor market weakness persists.

Treasury yields edged higher, with the 10-year note rising to about 4.07%. Gold futures rose 0.35%, oil prices climbed to around $62.60 a barrel, and Bitcoin traded near $116,200.

Tesla led tech stocks higher with a 7.4% surge, while Microsoft gained nearly 2% after news that OpenAI would convert to a for-profit entity. Other major tech names such as Apple, Nvidia, Alphabet, Meta, and Broadcom saw modest gains, though Amazon slipped slightly.

Warner Bros. Discovery jumped 17% on reports of a potential takeover bid by Paramount Skydance, while RH shares fell -4.6% after cutting its sales outlook and citing tariff concerns.

8:30 am- Empire State manufacturing survey (Sept) (4.5 median forecast vs 11.9 previous).

The Dow declined -0.59%, closing at 45,834.22. Key support sits at 45,702.96; holding above could spark a rebound toward 45,914.16 and 46,068.69.

The index ended at 24,092.19. Key support lies at 24,004.33; holding above this level could open upside toward 24,132.59 and 24,200.

Closing at 6,584.29, the S&P is trading above support at 6,565.13. If buyers hold this level, the potential upside targets are 6,597.68 and 6,610.

SPY was trading at $658.60 pre-market, with support at $657.94 and potential upside targets at $658.81 and $660.

QQQ was trading at $587.02 pre-market, with key support at $585.06. Holding above this level keeps upside targets in play at $587.75 and $590.

IWM was trading at $239.12 pre-market. Support is nearby at $238.48, while the potential upside levels stand at $240.23 and $240.76.

SMH traded at $302.33 pre-market. Support lies at $300; a bounce could test $303.58 and $305.04.

SOXL was at $28.60 pre-market. Support at $28.27 must hold to fuel a move towards $29.04 and $29.40.

Company Overview- Hain Celestial is a natural food company set to announce earnings results before market open on Monday.

Recent Performance- Last quarter, Hain Celestial reported revenues of $390.4 million, down 11% year on year, missing analysts’ expectations by 4.7%.

Earnings Expectations- Analysts expect this quarter’s revenue to decline 11.2% year on year to $371.9 million, with adjusted earnings at $0.03 per share.

HAIN was trading at $2.33 pre-market. Support is at $2.20, while the potential upside levels stand at $2.40 and $2.55.

Company Overview- Dave & Buster's Entertainment, Inc. (PLAY) operates entertainment and dining venues offering games, food, and drinks across North America.

Revenue Expectations- Analysts expect Q2 revenue of $562.7 million, a 1% year-on-year increase, slower than the 2.8% growth last year. Adjusted EPS projected at $0.92 per share for Q2, reflecting analyst expectations.

Recent Performance- Last quarter’s revenue was $567.7 million, down 3.5% year-on-year, missing EPS and same-store sales estimates.

PLAY was trading at $24.15 pre-market. Support is at $24, while the potential upside levels stand at $24.27 and $24.37.

Company Background- High Tide Inc., a Calgary-based firm, is set to release Q3 results on September 15, 2025.

Earnings Expectations- Analysts forecast a 10.9% revenue rise to C$146.05 million from C$131.69 million year-over-year, with an expected EPS loss of 1 cent.

HITI was trading at $3.58 pre-market. Support is at $3.50, while the potential upside levels stand at $3.615 and $3.66.

Earnings Expectations- RLGT is expected to release its Q4 earnings on September 15 after the market close, with a revenue estimate of $223.71M and an EPS GAAP estimate of $0.04.

RLGT was trading at $6.99 pre-market. Support is at $6.72, while the potential upside levels stand at $7.10 and $7.25-7.30.