Dow, S&P 500, Nasdaq Futures Drift Higher Despite Persistent Treasury Yield Pressures

August 21, 2026

Stock Market Today

U.S. stock futures rose on Friday as investors awaited more details on President Trump’s “economic warfare” plan against Iran, while the Treasury’s move to expand bond buybacks failed to provide lasting relief to markets.

Futures tied to the Dow Jones Industrial Average and the S&P 500 rose 0.3%, while Nasdaq-100 futures gained 0.5% after stocks closed lower in the previous session.

Stocks were on track for weekly losses after a bond sell-off this week pressured capital-intensive AI and technology companies such as Nvidia and SpaceX.

On Thursday, Treasury Secretary Scott Bessent outlined plans to expand bond buybacks and increase the program’s size beyond $4 billion per issue. “Part of it is signaling here to show that we believe yields don’t reflect the underlying fundamentals,” Bessent told CNBC.

However, relief in the bond market was short-lived, as investors viewed the measure as a limited solution. The 10-year and 30-year Treasury yields subsequently returned to previously elevated levels.

Investors are now looking ahead to Bessent’s press conference on Monday, when he is expected to unveil details of the U.S. plan to economically isolate Iran in the latest phase of the Middle East conflict. Earlier in the week, Trump threatened to impose “TREMENDOUS Economic Consequences” on any country that trades with Iran, drawing particular attention to China, which sources oil from the Gulf.

The Federal Reserve’s Jackson Hole Symposium and Nvidia’s second-quarter earnings are also coming into focus next week. In the meantime, the release of S&P Global’s Purchasing Managers’ Index will provide investors with insight into the health of the manufacturing and services sectors, while quarterly results from BJ’s Wholesale Club could either reinforce or challenge signs of consumer pressure reported by other retailers this week. Yahoo Finance reports.

EdgeUp

🧾 Advance Auto Parts Rebounds After 25% Plunge as $26 Million Trump Tariff Refund Boosts Q2 Margins and SKU Catalog Expands

Advance Auto Parts Inc. said on Thursday that tariff refunds contributed $26 million to its second-quarter gross margin, supporting the year-over-year improvement in margins.

During the earnings call, Advance Auto Parts CFO Ryan Grimsland confirmed that tariff refunds contributed $26 million to gross margin, accounting for 130 basis points of the year-over-year change.

Advance Auto Parts CEO Shane O’Kelly said that, excluding refunds related to the International Emergency Economic Powers Act (IEEPA), the company generated a gross margin of approximately 45% for the first half of 2026.

The company’s adjusted operating margin for the second quarter was 5.6%. Benzinga reports.

🤖 Waymo Unveils First Custom Robotaxi Chip With More Than 1,000 TOPS of AI Processing Power

Alphabet Inc.’s Waymo has unveiled its first custom-designed robotaxi chip, a purpose-built 5-nanometer ASIC that delivers more than 1,000 TOPS of machine-learning performance for front-end sensor processing in its latest Ojai vehicles.

Waymo described the silicon as a specialized machine-learning processor engineered specifically to process, fuse, and run advanced neural networks on raw sensor data in real time.

The chip processes data streams from lidar, radar, and cameras before sending the processed information to the vehicle’s core machine-learning system. Benzinga reports.

📰 Anthropic Could Publicly File IPO Paperwork as Soon as This Month

Anthropic is preparing to publicly file paperwork for an initial public offering as early as the end of August, potentially setting up one of the largest tech IPOs on record.

The AI startup is reportedly aiming to match or surpass SpaceX’s $75 billion June IPO. The filing would also provide investors with their first detailed look at Anthropic’s financial performance and business segments.

Anthropic could reach the public markets ahead of rival OpenAI, which is expected to pursue an IPO later this year or in early 2027.

Founded in 2021 by former OpenAI employees Dario and Daniela Amodei, Anthropic has expanded rapidly through enterprise-focused products such as Claude Code, Claude Cowork, and integrations with Microsoft 365.

Anthropic raised $65 billion at a $965 billion valuation in May. Its latest quarterly revenue reportedly reached $11.5 billion, up roughly 14-fold from the same period a year earlier. Yahoo Finance reports.

🌐 Broadcom Steps Up Nvidia Challenge With Potential $100 Billion AI Financing Deal

Broadcom Inc. shares gained nearly 1% in Friday’s premarket trading as market sentiment improved. Nasdaq futures rose 0.34%, while S&P 500 futures gained 0.26%.

The company is expanding its role in AI infrastructure through a potentially large financing package, new customer agreements, and partnerships aimed at increasing demand for its custom chips and data-center equipment. Benzinga reports.

💼 Ross Stores Jumps After Raising Full-Year Profit Guidance

Ross Stores shares surged nearly 9% in premarket trading on Friday after the discount retailer raised its full-year profit guidance and projected quarterly sales growth above analysts’ expectations.

The outlook signaled continued demand for value-focused shopping despite an uncertain economic environment.

Shares were last up 8.6% at $248.77 after declining more than 3% over the previous two sessions. Reuters reports.

Top 5 Movers in Early Pre-Market

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM ET). Stock Analysis reports.

1) SUGP: SU Group Holdings Limited

Total gain: +1.735 (62.52%)

2) ADXN: Addex Therapeutics Ltd

Total gain: +1.98 (43.33%)

3) USDE: StablecoinX Inc.

Total gain: +0.620 (15.50%)

4) TREO: Tactical Resources Corp.

Total gain: +0.58 (8.09%)

5) BRNX: BrenX Ltd.

Total gain: +0.420 (13.12%)

Yesteday's Biggest Movers

The closing price of the top three market percent gainers trading near or above $3 on Aug 20.

(All pricing and percent gains are based on regular market trading hours from 9:30 AM to 4:00 PM ET) Stock Analysis reports.

1) BTOG: Bit Origin Ltd

Total gain: +2.764 (320.74%)

The company announced a 1-for-5 reverse stock split of the company’s Class A ordinary shares and Class B ordinary shares. Beginning with the opening of trading on August 21, the company’s Class A ordinary shares will trade on the Nasdaq Capital Market on a reverse-split-adjusted basis. TipRanks reports.

2) JZ: Jianzhi Education Technology Group Company Limited

Total gain: +1.620 (95.29%)

The stock appeared to be moving on no notable news.

3) BRLS: Borealis Foods Inc.

Total gain: +0.838 (91.89%)

The stock appeared to be moving on no notable news.

Today’s Notable Earnings

(Estimate and Actual numbers represent Earnings Per Share in US Dollars)

BKE
Buckle

Q2 2026

Before Market Open

Estimate: 0.900
Actual: N/A

BJ
BJ's Wholesale Club

Q2 2026

Before Market Open

Estimate: 1.190

Actual: N/A

BEKE
KE Holdings

Q2 2026

Before Market Open

Estimate: 0.280
Actual: N/A

Today’s Economic Dates

Time (ET) / Report / Period

9:45 AM / US Flash Manufacturing PMI / Aug.
9:45 AM / US Flash Services PMI / Aug.

Parting Thoughts

“When investing, pessimism is your friend, euphoria the enemy.”

— Warren Buffett

Sourced in: Berkshire Hathaway 2008 Shareholder Letter

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