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1. Leader industry as of 5:56 pm

Medical - Revenue Biotech related stocks: Moderna(MRNA.US), Insmed Incorporated(INSM.US), BioNTech(BNTX.US), BridgeBio Pharma(BBIO.US), Madrigal Pharmaceuticals, Inc.(MDGL.US), Arrowhead Pharmaceuticals, Inc.(ARWR.US), Axsome Therapeutics, Inc.(AXSM.US), Cytokinetics, Incorporated(CYTK.US), Ionis Pharmaceuticals, Inc.(IONS.US)

Mining-Metal Ores related stocks: BHPA INC(BHPA.US), RIO GRANA RESOURCES INC(RGRG.US), Southern Copper Corporation(SCCO.US), Freeport-McMoRan, Inc.(FCX.US), ANGLO AMERICAN(NGLOY.US), Valeant Pharmaceuticals International Inc(VRX.US), Cameco Corporation(CCJ.US), Teck Resources(TECK.US), KAZATOMPROM JSC NAC(NATKY.US)

Quick Summary and Outlook

The S&P 500 index(SPX.US) rose on Friday as investors tried to find their footing following a steep sell-off driven by rising Treasury yields.

 

The broad market index climbed 0.3%, while the NASDAQ(IXIC.US) Composite traded around the flatline. The Dow Jones Industrial Average(DJI.US) was up 420 points, or 0.8%, supported by gains in healthcare stocks such as Merck & Co., Inc.(MRK.US) and Johnson & Johnson(JNJ.US).

 

The financials sector offered a boost to the broader market, with crypto-related stocks seeing sizable gains as bitcoin headed for a weekly gain of more than 20%. Robinhood(HOOD.US) shares jumped 12%, while Coinbase(COIN.US) added 9%. Materials also outperformed, up 2% on the day.

 

Wall Street is coming off a losing session, as Treasury yields resumed their march higher after the government’s efforts to stymie a selloff in the Treasury market. Bonds, particularly on the long end of the curve, have been under pressure as investors fear rising inflation due to higher oil prices.

 

Thursday’s pullback helped put the the S&P 500 on track to snap a three-week winning streak, as it’s headed for a decline of more than 1%. The Nasdaq is off by more than 2% and also poised to end a three-week win streak, while the Dow has fallen around 1% on the week and is on track for back-to-back weekly losses.

 

The downturn this week also impacted stocks beyond the U.S., with the MSCI All Country World Index on track for a weekly decline of 1%.

 

“Unlike QE via the Federal Reserve, the Treasury cannot create money to fund asset purchases,” wrote Ulrike Hoffmann-Burchardi, chief investment officer of the Americas at UBS. “Any buybacks must be financed elsewhere, most likely through increased bill issuance or adjustments to other parts of its funding program.”

 

“In effect, the operation reshapes the maturity profile of debt held by investors rather than reducing the amount of debt markets must absorb. It neither removes the government’s financing needs nor resolves concerns about Treasury supply,” she wrote.

2. Breaking Out Today as of 5:40 pm

3. Near Breakouts as of 5:41 pm

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Notable Stock Movers as of 5:02 pm

• BJ's Wholesale Club Holdings Inc(BJ.US) reported better-than-expected earnings for the second quarter on Friday.
  • The company posted quarterly earnings of $1.36 per share which beat the analyst consensus estimate of $1.17 per share. The company reported quarterly sales of $6.227 billion which beat the analyst consensus estimate of $5.957 billion.
  • BJ’s Wholesale raised its FY2026 adjusted EPS guidance from $4.40-$4.60 to $4.60-$4.80.
• RF Acquisition Corp II(RFAI.US) shares shot up 306% to $51.69 following Thursday SEC filings detailing the results of an extraordinary general meeting. At the August 19 meeting, shareholders overwhelmingly approved the proposed business combination with Singapore-based, AI-driven drug discovery firm Nanyang Biologics Pte. Ltd.
• Shares of Werewolf Therapeutics, Inc.(HOWL.US) got a boost, surging 109% to $0.90 after the company announced a merger with Ambros Therapeutics. The companies secured commitments for an oversubscribed concurrent private placement of $150 million from a syndicate of leading healthcare-dedicated investor.
• Jupiter Neurosciences, Inc.(JUNS.US) shares were also up, gaining 57% to $8.09. Jupiter Neurosciences entered into definitive license agreement with PharmAla for its patented, non-racemic MDMA formulation ALA-002.
• Jianzhi Education Technology Group Company Ltd.(JZ.US) shares dropped 25% to $2.48 after jumping 95% on Thursday.
• Shares of iSpecimen Inc(ISPC.US) were down 22% to $1.76 after declining around 5% on Thursday. iSpecimen announced it completed an international cancer research project.
• FLUX POWER HOLDINGS INC(FLUX.US) was down, falling 21% to $0.65 after the company reported mixed fourth-quarter financial results.

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