장전 브리핑 Pre-Market Briefing for August 25, 2026
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Previous Session Recap
Yesterday's U.S. market moved in different directions. The Dow rose 0.26%, while the S&P 500 fell 0.28% and the Nasdaq declined 0.76%. Consumer staples and financials gained more than 1%, while the technology sector dropped 1.78%. Seagate fell 6.51% and Micron fell 5.85%, deepening losses in memory semiconductors, and the volatility index climbed to 15.84.
Current Market Mood
Risk appetite is cautiously returning. Over the weekend, news that Apple may use Chinese-made memory drove Micron and Sandisk sharply lower, but both rebounded in the pre-market session as sell-side desks argued the declines had gone too far. That said, capital has not fully returned. With Nvidia's earnings on Wednesday and Chair Powell's Jackson Hole speech on Friday still ahead, today looks more like a market positioning itself before those catalysts. The Consumer Confidence index is the first test.
Pre-Market News Roundup
Today's Events
$DKS — The market is looking for EPS of $3.80 and revenue of $5.65 billion. Revenue jumped 54.6% versus a year earlier because of the Foot Locker acquisition, so the real question is whether same-store sales at the existing base business have actually recovered.
$BNS — Fiscal Q3 results for the Canadian bank. With the 50% tariff having just taken effect, the focus will be on how management frames loan-loss provisions and the health of the domestic loan book.
$BMO — Scotiabank reports on the same day. With a large U.S. business mix, the key question is how much of the tariff shock it has been able to absorb.
$INTU — Consensus calls for EPS of $3.59 and revenue of $4.27 billion. The key question is whether small-business revenue grew 12.4% to $3.39 billion, and after four straight beats, the bar is high.
$ZM — The company's guidance is for $1.265 billion to $1.27 billion in revenue, with growth in the mid-single-digit percent range. Consensus EPS of $1.50 is above the high end of company guidance at $1.47, so disappointment is likely without raised guidance.
Macro Schedule
The Producer Price Index tracks the prices companies receive for the goods they produce, and it tends to lead consumer inflation by one step. The report includes month-over-month and year-over-year readings, along with core figures that strip out the volatile food and energy components. This time, consensus estimates were not released. With the possibility of a September rate hike still alive, a hotter core print would revive rate-pressure concerns.
Consensus is 90.2, versus last month's 90.8. With two straight months of declines, this is the moment to confirm whether American consumer sentiment is actually cooling. Yesterday, consumer staples led the sector rankings with a 1.7% gain, so a print below expectations would pull more money into defensive consumer names such as Walmart and Costco.
Ex-Dividend
Stocks in Focus
Yesterday, two payment names rallied in tandem. Mastercard rose 3.31% to $599.86, breaking above the upper Bollinger Band, with an RSI of 73. Visa also gained 3.06%, closing at $382.41 and flashing the same signal, with an RSI of 69 sitting at the overbought threshold. Both stocks attracted defensive flows, putting them in the bucket that tends to give up gains first when the index pulls back. On the other side is Texas Instruments. It fell 2.01% to $259.05, breaking below the lower Bollinger Band, with RSI dropping to 36. With semiconductors rebounding in the pre-market today, the next move will set the direction from here.
Today's Action Guide
Stay calm today, and have a great day.
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