Market review from UTEX — week 36

The market closed the week slightly higher: the SPY gained 0.47%, while the Nasdaq rose 0.42%. Salesforce (+22%) and CrowdStrike (+13%) reported strong results, while Microsoft (+6%) and Meta (+5%) also saw notable gains. Top losers included SanDisk (-6%), Eli Lilly (-6%), and Applied Materials (-6%).

Another powerful report from Nvidia confirmed strong AI demand, but on Friday the stock gave back nearly all of its gains, closing the week only +1%.

Bitcoin made several attempts to break and hold above $80,000, but so far without success. BTC is currently trading at $78,700.

Fed Chair Kevin Warsh's rhetoric at the Jackson Hole symposium turned out to be quite hawkish. He emphasized that the recent slowdown in inflation does not yet prove a sustainable improvement in the trend, and that price stability remains the regulator's top priority. The probability of a rate hike at the September 15–16 meeting jumped from 35.4% to 55.7%.

The main event this week will be Friday's August jobs report, including unemployment data. The most anticipated earnings report will be Broadcom — the semiconductor and infrastructure software supplier with a market cap of about $2 trillion — which reports on Wednesday after the close.

There will be fewer reports this week; notable names include Ciena, Lululemon Athletica, DocuSign, Samsara, Snowflake, Hewlett Packard Enterprise, Palo Alto Networks, Dell Technologies, MongoDB, and Medtronic.

Top trading ideas for this week

 🔴 Dell Technologies (DELL). Report on September 1 after market close. The stock is up 262% since the start of the year. It tends to show strong volatility around earnings. For those who like powerful intraday moves.

🔴 Broadcom (AVGO). Report on September 2 after market close. The semiconductor giant. Wall Street expects revenue growth of 83–84% YoY to $29.24 billion, driven by strong AI chip demand. Investors will focus on the AI revenue outlook for 2027. The June report triggered a sell‑off due to conservative AI segment estimates. This time, CEO Hock Tan is expected to deliver more aggressive and optimistic guidance. The report could impact the entire tech sector and spark selling if it fails to meet expectations.

🔴 Crypto stocks: Strategy (MSTR), Coinbase Global (COIN), BitMine (BMNR), Circle Internet Group (CRCL). Bitcoin consolidated around $80,000 last week. If it can move higher, a new wave of growth in crypto stocks is possible.

🔴 Planet Labs (PL). Report on September 3 after market close. The company builds and launches small satellites for daily high‑resolution imaging of the entire Earth's surface. On June 1, PL shares were trading around $50 ahead of the SpaceX IPO, but over three summer months they fell to $20. Most other stocks in the sector also dropped 50‑60% from their highs over the quarter. On one hand, medium‑term prices already look decent; on the other hand, there are no clear growth catalysts, and the news flow is generally neutral. SpaceX rose 26% over the month, but this has not affected other space companies. We don't recommend buying before the report, but it's worth keeping an eye on.

🔴 Lululemon Athletica (LULU). Report on September 3 after market close. A maker of premium athletic and casual apparel. In early 2024, the stock reached $500; now it is around $120. The main reasons for the decline are weaker demand due to inflation, rising competition, tariff pressure, shrinking margins, and weak design. The report will show whether new products have won back customers in the key U.S. market. Analysts point to cost control and share buybacks as potential positive factors, but declining sales in the U.S. and China could lead to a downward revision of fiscal 2026 profit guidance. The report comes five days before new CEO Heidi O'Neill takes office — she spent over 25 years as a senior executive at Nike. Medium‑term prices look fairly attractive, but it's better to wait for the report — we expect high volatility.

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