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Nasdaq 26,290 Β· Moderna-Merck cancer vaccine trial shows survival benefit ‌ ‌ ‌ ‌ ‌
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Stock Mornings
Your weekday pre-market read on US stocks.
Issue #42 Β· Wednesday, August 19, 2026
Volatility (VIX)  Cautious Β· 15.8  β–Ό from 15.8 yesterday
Worth noting  Meta (META) moved -4.45% on the day.
Stocks slipped amid bond volatility and geopolitical tensions, while healthcare and retail earnings offered mixed signals for market direction.
 
 

●  The Numbers

S&P 5007,691.76  -0.69%
-0.47% this week
Nasdaq Composite26,289.71  -1.33%
-0.59% this week
Dow Jones53,343.40  -0.22%
-0.83% this week
Russell 20003,017.89  -1.30%
-0.30% this week

Before the bell: see how Asia, Europe & US futures traded overnight →

●  The Movers

Leaders

AAPL Apple+1.45%
MSFT Microsoft+0.27%
GOOGL Alphabet+0.06%

Laggards

META Meta-4.45%
NVDA Nvidia-2.34%
SPCX SpaceX-1.98%

The day's best and worst of the tracked indices and mega-caps Β· day-over-day change.

●  The Read

S&P 500 β€” description, not prediction

Trading above both its 50-day (7,521.76) and 200-day (7,083.18) averages β€” the longer-term trend reads as up. 30-day range 7,316.15–7,798.99; currently in the upper third of that range. RSI(14) 77 β€” traditionally described as overbought.

See where every market sits on the daily page β†’

●  The Brief

 Moderna-Merck cancer vaccine trial shows survival benefit

A combination melanoma treatment extended patient survival versus Keytruda alone in late-stage testing, potentially opening a new market segment for both companies. (CNBC)

 Target beats Q2 earnings, raises full-year guidance

The retailer reported 5.3% sales growth and raised forward guidance, signaling consumer spending resilience despite economic headwinds and margin pressures. (Yahoo Fin)

 Dollar weakness looms from Treasury and Fed uncertainty

Currency strategists cite rising Treasury yields, softer U.S. economic data, and unclear Fed policy direction as mounting risks to dollar strength. (CNBC)

 UAE suspends trade with Iran after reported missile strike

Geopolitical escalation between Washington and Tehran has prompted the UAE to cut trade ties, adding regional instability and potential commodity market pressure. (CNBC)

Partner

The charts we read every morning

TradingView is the charting platform a lot of "The Read" leans on β€” live charts, screeners and alerts for stocks, indexes and the VIX. New to it? This link puts toward a paid plan.

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Markets 101

What is a P/E ratio?

Price divided by earnings per share β€” how many dollars you pay for each dollar of annual profit. A high P/E means investors expect growth; it says nothing certain about the future.

β€œMarkets are a description of today, not a forecast of tomorrow.”

Stock Mornings is an educational digest for US readers. Nothing here is financial, investment, tax, or legal advice. Stocks carry risk β€” you can lose money, and past performance does not predict future results. Some links may be affiliate links; we may earn a commission at no cost to you. Prices via Yahoo Finance, captured shortly before the opening bell.

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