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Nasdaq 26,331 · Alibaba shares fall 3% as AI spending cuts net income 75% ‌ ‌ ‌ ‌ ‌
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Stock Mornings
Your weekday pre-market read on US stocks.
Issue #43 · Thursday, August 20, 2026
Volatility (VIX)  Cautious · 15.2  ▲ from 14.9 yesterday
Worth noting  Tesla (TSLA) moved +4.23% on the day.
Markets edge higher as Alibaba tumbles on AI spending, while Walmart lifts guidance backed by tariff savings.
 
 

●  The Numbers

S&P 5007,707.98  +0.21%
-0.52% this week
Nasdaq Composite26,331.09  +0.16%
-0.97% this week
Dow Jones53,463.05  +0.22%
-0.57% this week
Russell 20003,032.94  +0.50%
-0.41% this week

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

●  The Movers

Leaders

TSLA Tesla+4.23%
AMZN Amazon+2.46%
AAPL Apple+2.19%

Laggards

SPCX SpaceX-2.57%
NVDA Nvidia-0.99%
GOOGL Alphabet+0.15%

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

●  The Read

S&P 500 — description, not prediction

Trading above both its 50-day (7,525.33) and 200-day (7,078.14) averages — 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 — traditionally described as overbought.

See where every market sits on the daily page →

●  The Brief

 Alibaba shares fall 3% as AI spending cuts net income 75%

Alibaba reported a 75% drop in net income for the June quarter as the company increases artificial intelligence investments. The earnings miss reflects tech giants' capital-intensive pivot toward AI development. (CNBC)

 Walmart raises full-year outlook, plans to use tariff refund for prices

Walmart lifted its fiscal-year guidance and signaled it will deploy a substantial tariff refund to keep consumer prices low. The move offers a snapshot of retailer confidence and consumer spending trends. (CNBC)

 JPMorgan warns Treasury bond buyback may drive yields higher

JPMorgan strategists warn that the Treasury's bond buyback program could have unintended consequences by pushing yields up rather than supporting markets. The analysis highlights debate over federal debt management strategy. (MarketWatch)

 Oil prices jump after Trump threatens Iran economic sanctions

Oil prices rose following President Trump's statement threatening economic consequences for countries supporting Iran's economy. Energy markets remain sensitive to geopolitical shifts and trade policy announcements. (MarketWatch)

Partner

The charts we read every morning

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Markets 101

What are earnings?

A company's profits, reported every quarter. "Earnings season" is when most big firms report within a few weeks, and surprises versus expectations often move share prices sharply.

“Markets 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 — 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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