Good morning.
The Fast Five → Bessent has no easy fix for bond yields, US-Canada rift deepens over tariffs, the return of the debasement trade, Nvidia customers notified about price hikes, and Trump discloses 1,000 stock trades in June…
📌 A “Bloodbath” Is Coming: Make this move before August 31 →
(from TradeSmith)
Calendar: Full Calendar »
Today:
Treasury Sec Bessent Speaks, 2P
Tomorrow:
CB Consumer Confidence, 10A
Your 5-minute briefing for Monday, August 24:
BEFORE THE OPEN
As of market close 8/21/2026. Bitcoin as of 8/23/2026.
Pre-Market:
Market Wrap:
Futures: Dow -44 (-0.1%), S&P -0.1%, Nasdaq -0.2%
Week: Dow -0.8%, S&P -1.4%, Nasdaq -2.0%
S&P and Nasdaq snapped three-week winning streaks
30-yr Treasury yield topped 5.3%, a nearly 20-yr high
Iran war and elevated oil are fueling inflation concerns
PCE and Jackson Hole take center stage this week
Nvidia earnings put AI spending back in focusings
EARNINGS
Here’s what we’re watching this week:
TUE: *Dick's Sporting Goods $DKS ( ▲ 2.17% )
WED: *Abercrombie & Fitch $ANF ( ▲ 3.8% ), *Kohl’s $KSS ( ▲ 1.56% ), Salesforce $CRM ( ▲ 1.82% )
Nvidia $NVDA ( ▼ 0.98% ) - expected YoY earnings growth of 99.0% to $2.09 EPS on annual revenue growth of 97.0% to $92.07B
THU: *Dollar Tree $DLTR ( ▲ 2.36% ), Gap $GAP ( ▲ 0.76% ), Ulta Beauty $ULTA ( ▲ 1.23% )
Marvell Technology $MRVL ( ▼ 5.57% ) - YoY EPS growth of 38.8% to $.93 on revenue growth of 34.9% to $2.71B
Silicon Valley billionaires are hoarding guns, gold, and even military grade gas masks... or fleeing the country altogether.
What do they know that you don't?
This AI insider is stepping forward with this time-critical message: Move your money before August 31st, ahead of the dangerous next phase of the AI market.
- A sponsored message from TradeSmith -
HEADLINES
Treasury Secretary Bessent came to office blasting his predecessor for trying to re-engineer the world's largest bond market. This week he took a stab at it himself.
US and Canadian officials traded blame after the two sides failed to reach a trade deal Friday, teeing up a damaging trade war that could threaten broad swaths of both economies.
Stock futures slip after Dow posts back-to-back weekly declines (more)
Nvidia earnings and Jackson Hole: What to watch this week (more)
Bitcoin, gold and the return of the debasement trade (more)
Iran says new sanctions threatened by 'desperate' US will fail (more)
Trump discloses 1,000 stock trades in June (more)
Traders are bracing for an increasingly hawkish ECB (more)
SEC charges former BofA investment banker with insider trading (more)
Oil prices fall as investors await ‘toughest’ US sanctions on Iran (more)
China's property crisis grinds on after Evergrande sentencing (more)
TikTok agrees to $400M US children's privacy settlement (more)
Nvidia customers notified about AI-related price hikes (more)
Amazon hiked prices to offset 'significant increases' in memory costs (more)
Luxury auto CEOs: There's a K-shaped economy even at top of market (more)
Hype for Moderna’s cancer vaccine is running ahead of the math (more)
Duolingo stock is shaking off AI fears (more)
Shein valued at up to $27B in Hong Kong IPO (more)
Alibaba launches $10B Hong Kong share placement to fund AI spending (more)
DEALFLOW
M+A | Investments
Nvidia invests in data center developer Cloverleaf Infrastructure
Australia's Steadfast agrees to $5.5B buyout bid by KKR-backed consortium
VC
Muon Space, a provider of satellite constellations and a mission foundry platform, raised $250M in Series C funding
Astromech, a computational biology and predictive AI startup, raised $20M in funding
FSH Technologies, a provider of government IT software replacing hourly-billed consulting firms, raised $20M in Series A funding
idler, a frontier data research lab and AI evaluation platform, raised $9M in Seed funding
Multiplier, an AI-powered data platform and coding agent infrastructure for the asset management industry, raised $6M in Seed funding
TravelX, an AI-native post-booking revenue management platform for global aviation, raised Series A funding in undisclosed amount
CRYPTO
BULLISH BITES
🚨 Move your money here before August 31st. *
📊 The wild week when Scott Bessent was schooled by the bond market.
🤔 Why is everyone in Silicon Valley talking like that?
🎓 America’s colleges are hurtling toward an enrollment cliff.
⛵️ How to dock a boat in 20 seconds without taking out a Tiki Bar.
DAILY SHARES
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