Dow closes more than 200 points lower Thursday in sharp reversal: Live updates – CNBC

The Dow Jones Industrial Average, along with the S&P 500, finished Thursday’s session with losses.

The Dow dropped 224.48 points, or 0.51%, to end at 43,968.64, while the S&P 500 fell 0.08% to close at 6,340.00.

On the other hand, the Nasdaq Composite rose 0.35% to settle the day’s session at 21,242.70.

— Sean Conlon

Stocks may be due for more gains over the coming months, even as they face a seasonally weak period, according to Piper Sandler.

“Our trend and relative strength work continues to support our positive outlook for equity markets in the second half of 2025,” wrote Craig Johnson, chief market technician at Piper Sandler, in a Thursday note. “While historically, the summer doldrums often lead to modest pullbacks in August and September, investors who have doubted this rally are now forced to ‘buy the dips…and not sell the rips’ to play catch-up.”

Johnson added that he’s maintaining his year-end target on the S&P 500 of 6,600, which implies 4% upside from Wednesday’s closing price.

“Based on the weight of the bullish technical evidence, we suspect our price objective will be achieved by mid-October,” he wrote.

— Sean Conlon

Traders work on the floor of the New York Stock Exchange during afternoon trading on August 1, 2025 in New York City.

Michael M. Santiago | Getty Images

The latest gauge of investor sentiment is rife with uneasiness. Counterintuitively, some market strategists think that could be a bullish sign that forces traders to get back into the market and drive stocks higher.

Bearish individual investor sentiment toward stocks over the next six months rose more than 10 percentage points, the most since February, in the latest weekly survey by the American Association of Individual Investors.

Investor sentiment is viewed by many as a contrarian indicator. The idea is that when investors are bearish, they are more likely to have already sold stocks and have more cash on hand to put to work. And when more are bullish, the reverse is true.

“If the poll is bearish, that is encouraging,” Sam Stovall, chief investment strategist at CFRA Research, said in an email to CNBC. “The institutional investor (smart) money tends to look at retail investors as ‘dumb money’ and tends to make near-term price performance projections accordingly.” More here.

— Pia Singh, Scott Schnipper

19 S&P 500 stocks scored new 52-week highs during Thursday’s session, with 14 of them securing fresh all-time highs. Here are some of those names that reached that milestone:

• DoorDash (DASH) trading at all-time highs back to its IPO in December 2020
• O’Reilly Auto trading at all-time high levels back to its IPO in April 1993
• Tapestry trading at all-time highs back to the Coach IPO in October 2000
• BlackRock trading at all-time high levels back to its IPO in 1999
• Nasdaq Inc trading at all-time high levels back to April 2003
• S&P Global trading at all-time high levels back through our history to 1972
• Arista Networks trading at all-time high levels back to its IPO in June 2014
• Broadcom trading at all-time high levels back through Avago history and its IPO in August 2009
• Nvidia trading at all-time high levels back to its IPO in January 1999
• Palantir Technologies trading at all-time highs back to its IPO in September 2020

However, Charter Communications and Eli Lilly both reached new 52-week lows. Charter Communications was trading at lows not seen since May 2024, while Eli Lilly was trading at lows not seen since February 2024.

— Christopher Hayes, Sean Conlon

U.S. Federal Reserve Chair Jerome Powell speaks during a press conference following the issuance of the Federal Open Market Committee’s statement on interest rate policy in Washington, D.C., U.S., July 30, 2025.

Jonathan Ernst | Reuters

Exactly two thirds of individual investors polled, or 66.7%, believe the Federal Reserve’s decision to hold benchmark lending rates steady last week was the right move, according to a special question asked in the latest weekly survey by the American Association of Individual Investors.

Almost a third, or 29.7%, of Main Street investors said the central bank should have cut the fed funds rate from its present 4.25% to 4.50% range. One percent said the Fed should have raised rates and 2.6% were unsure or had no opinion, the AAII said.

— Scott Schnipper

• Warner Brothers Discovery — The parent of HBO Max and TNT Sports slumped more than 6% after saying second-quarter free cash flow totaled $702 million versus a consensus analyst estimate as compiled by StreetAccount of $863 million, while cash from operations came in at $983 million against an expected $1.29 billion.
• AppLovin – Shares of the marketing platform company popped 9%. AppLovin reported second-quarter earnings of $2.26 per share on revenue of $1.26 billion of revenue, while the FactSet consensus called for $1.96 per share and $1.22 billion in revenue. Third-quarter guidance also topped estimates.
• Advanced Micro Devices — The chipmaker rallied 5% Thursday, boosted by the Trump administration’s tariff increases on imported semiconductors, one day after sliding more than 6% in the wake of disappointing second-quarter earnings reported late Tuesday.

Read more here.

— Darla Mercado

In a Thursday note, Bank of America double upgraded telecommunications stock CommScope to a buy rating from underperform.

As a catalyst, analyst Tal Liani pointed to CommScope’s decision to sell its connectivity and cable solutions business for $10.5 billion to fiber optic connector manufacturer Amphenol. This sale makes CommScope’s financial profile look even more attractive, Liani said.

“The agreement with Amphenol is another step in the company’s breakup, designed to eliminate the risk of default, expose the sum-of-parts value, pay down the debt obligations and buy back Carlyle’s preferred equity,” he wrote. “More importantly, the residual is now trading at 3x EV/EBITDA, which leaves additional room for stock upside, in our view.”

Shares of CommScope surged 87% on Monday, following news of the sale, and were last trading almost 2% higher on Thursday. Shares of Amphenol added 4% on Monday but were nearly 1% lower on Thursday. Liani raised his price objective to $20 per share from $4, implying upside of 39% from CommScope’s Wednesday closing price.

COMM, APH 5D chart

Inside a Crocs store at Queens Center in New York.

Ryan Baker | CNBC

Shares of footwear company Crocs declined more than 25% on Thursday, after the firm doubled down on a decision to pull its full-year outlook. The company said it would only provide guidance for the current quarter on its earnings call.

Crocs reported a beat on the top and bottom line on Thursday morning, but said providing an outlook for the full-year would be difficult due to an ” uncertain and challenging” operating backdrop.

Crocs stock.

The stock has lost more than 28% in 2025 is on pace for its worst year since 2016, when shares slipped 33%.

— Brian Evans, Scott Schnipper, Adrian van Hauwermeiren

Leerink downgraded Eli Lilly shares to market perform from outperform, citing disappointing clinical trial results for its oral GLP-1 drug, orforglipron, and an increasingly competitive market for weight loss drugs. The stock fell 13%, hitting a fresh 52-week low intraday

Lilly said its oral GLP-1 drug helped patients with obesity in a phase 3 trial lose an average of 11.2% of their starting weight. That fell short of the benchmark of 13% to 14% weight loss some had been eyeing.

However, Bank of America analyst Tim Anderson said the sell-off was “overdone,” as he reiterated his buy rating and $1,000 price target.

“Yes, weight loss fell a bit short, but ask 100 prescribers whether this new data will really make a difference in who they’d put on orforglipron, and our belief is the vast majority would say, ‘not really,'” Anderson wrote in a note to clients.

Both Lilly and its competitors have been hoping to bring an oral GLP-1 drug to market, thinking it will expand the number of patients interested in the drugs. Pills are often cheaper and easier to manufacture and may be a better option for needle-adverse patients.

Not surprisingly, the trial data was more of a driver of the stock on Thursday. Lilly also reported second-quarter results that were better than expected and raised its forecast, citing strong momentum with its once a week injection for weight loss, Zepbound.

— Christina Cheddar Berk

Federal Reserve Governor Christopher Waller speaks during The Clearing House Annual Conference in New York City, U.S. November 12, 2024. 

Brendan Mcdermid | Reuters

Federal Reserve Governor Christopher Waller has moved to the front of the pack for next chair of the central bank, Bloomberg News report, citing unnamed sources familiar with the matter.

President Donald Trump during his first term appointed Waller to the board of governors. At the Fed’s policy meeting last week, Waller was one of two dissenters from the decision to hold the overnight funds rate steady, preferring instead to start cutting.

Following the report, prediction markets moved sharply to price in a strong possibility that Waller gets the nomination. CNBC has reached out to the White House for comment.

— Jeff Cox

Bitcoin reclaimed the $116,000 level for the first time since July 31, following news that President Donald Trump is set to sign an executive order that would open crypto to the $43 trillion retirement industry. Ether rose more than 4%, also returning to a one-week high.

“That’s a monster pool of capital. What we’re seeing … [is] the aperture of being able to buy crypto being widened and widened, [and] more avenues bringing people into the tent,” Galaxy CEO Michael Novogratz told CNBC’s “Squawk Box” Thursday.

“When it becomes commonplace – when you can do it at the place you’ve already been doing business with, if its Fidelity or T. Rowe Price or whoever it is – you just pull more people into this ecosystem,” he added.

Crypto-linked stocks got a boost of energy as well in morning trading. Coinbase gained almost 4%, while Galaxy Digital surged more than 8%. Ether treasury stock Bitmine Immersion rose more than 10%.

— Tanaya Macheel

Stocks kicked off Thursday’s session in positive territory.

The S&P 500 rose 0.7% after the opening bell, while the Nasdaq Composite jumped 0.9%. The Dow Jones Industrial Average advanced 297 points, or 0.7%.

— Sean Conlon

These are the stocks moving the most in premarket trading:

• Eli Lilly — The pharmaceutical stock dropped more than 7% despite posting a second-quarter earnings and revenue beat.
• Peloton — Shares surged 10% after the exercise equipment manufacturer reported fiscal fourth-quarter revenue of $606.9 million, beating the $580.2 million analysts polled by LSEG had expected.
• Intel — Shares fell about 2% after President Donald Trump said on social media that Intel CEO Lip-Bu Tan should resign.

Read the full list of stocks moving here.

— Lisa Kailai Han

Jobless claims nudged higher last week while long-term unemployment continued to rise, the Labor Department reported Thursday.

Initial filings for unemployment insurance totaled a seasonally adjusted 226,000 for the week ending Aug. 2, up 7,000 from the prior period and higher than the Dow Jones consensus estimate for 221,000.

Also, continuing claims, which run a week behind, continued their ascent. The rolls of those collecting for multiple weeks increased to 1.97 million, up 38,000 from the prior week and the highest since Nov. 6, 2021.

The numbers indicate a still relatively stable labor market, despite a report Friday from the Bureau of Labor Statistics indicating a sharp slowdown in hiring.

In other economic news Thursday, the BLS reported that nonfarm productivity increased 2.4% in the second quarter, higher than the 2% estimate, while unit labor costs rose 1.6%, just 0.1 percentage point above forecast.

—Jeff Cox

Signage at the Warner Bros. Discovery headquarters in New York, US, on Thursday, June 12, 2025.

Victor J. Blue | Bloomberg | Getty Images

Warner Bros. Discovery shares gained more than 3% in the premarket Thursday on the heels of its second-quarter revenue topping estimates.

The company posted $9.81 billion in revenue, while analysts surveyed by LSEG had been expecting $9.76 billion for the quarter.

Warner Bros. Discovery said that it added 3.4 million streaming subscribers during the period, ultimately ending the second quarter with 125.7 million subscribers. On top of that, success at the box office from hit films like “A Minecraft Movie” and “Sinners” helped spur year-over-year studios revenue growth of 55%, the company also said.

WBD, 1-day

Lip-Bu Tan, Chief Executive Officer of Intel, appears at an event organized by the company.

Andrej Sokolow | Picture Alliance | Getty Images

Intel shares sank more than 3% in Thursday’s premarket after President Donald Trump called on CEO Lip-Bu Tan to step down.

While not mentioning Tan by name, Trump said Intel’s chief executive was “highly CONFLICTED and must resign, immediately” in a post on Truth Social.

“There is no other solution to this problem,” Trump wrote.

Intel, 1-day

A tension adjustment dial on a Peloton stationary bicycle inside a store in Palo Alto, California, US, on Monday, Aug. 5, 2024.

David Paul Morris | Bloomberg | Getty Images

Shares of Peloton soared more than 17% in premarket trading Thursday after the company’s fiscal fourth quarter results surpassed Wall Street’s expectations.

The company reported earnings of 5 cents per share, above the 6-cent loss per share that analysts surveyed by LSEG had called for. Its revenue of $607 million also came in higher than the $580 million expected.

Peloton also said it’s going to slash run-rate expenses by another $100 million, half of which will come from cutting 6% of its staff.

PTON, 1-day

The stock’s move higher comes as it’s lagged the broader this year. Year to date, Peloton shares have plummeted nearly 19%, while the S&P 500 has risen almost 8%.

— Gabrielle Fonrouge, Sean Conlon

Traders work on the floor of the New York Stock Exchange during morning trading on Feb. 23, 2024.

Michael M. Santiago | Getty Images

Eli Lilly shares were down 12% in the premarket after the company released trial data on a pill aimed at treating obesity.

Lilly said the highest does of the daily obesity pill helped patients lose more than 12% of their body weight. However, data on how well some patients tolerated the drug was underwhelming, with about 10.3% of patients who took the highest dose stopped the treatment due to side effects.

LLY falls

Asia-Pacific markets closed mostly higher Thursday.

Japan’s Nikkei 225 benchmark rose 0.65% to close at 41,059.15, while the Topix climbed 0.72% to 2,987,92.

Over in South Korea, the Kospi index advanced 0.92% to end the day at 3,227.68, and the small-cap Kosdaq added 0.29% to close at 805.81.

Hong Kong’s Hang Seng Index was 0.69% higher at 25,081.63, while mainland China’s CSI 300 ended the day flat.

Australia’s S&P/ASX 200 bucked the wider trend, closing 0.14% lower at 8,831.4.

— Nur Hikmah Md Ali

Oil rises after U.S. President Donald Trump said he planned to impose a 100% tariff on chip imports, except that of companies that manufactured domestically.

Brent Crude was trading at $67.56 per barrel after moving up 1%, as of 11:50 a.m. Singapore time (11:50 p.m. ET Monday).

Meanwhile, the West Texas Intermediate crude added 1.13% to $65.06.

Oil prices

The Blue Ghost lunar lander at the Firefly Aerospace mission operations center in Leander, Texas, U.S., July 9, 2025.

Sergio Flores | Reuters

Rocket maker Firefly Aerospace priced its shares at $45 apiece, surpassing its expected range as the company prepared for its debut.

Firefly, which will make its initial public offering on the Nasdaq Thursday and trade under the ticker “FLY,” raised $868 million. The $45 share price values the company at roughly $6.3 billion.

The company had an initial pricing range of $35 to $39 and then lifted it to $41 to $43 per share this week.

— Samantha Subin, Darla Mercado

U.S. President Donald Trump speaks, as he and Apple CEO Tim Cook (not pictured) present Apple’s announcement of a $100 billion investment in U.S. manufacturing, in the Oval Office at the White House in Washington, D.C., U.S., August 6, 2025.

Jonathan Ernst | Reuters

President Donald Trump said late Wednesday that he would slap a 100% duty on imports of semiconductors and chips – with an exception for companies that are “building in the United States.”

“We’re going to be putting a very large tariff on chips and semiconductors,” he said, speaking in the Oval Office on Wednesday afternoon.

“But the good news for companies like Apple is if you’re building in the United States or have committed to build, without question, committed to build in the United States, there will be no charge,” Trump added.

Shares of Apple advanced 3% in extended trading, fresh off a 5% gain in the regular session.

Apple shares in the past day

Shares of engineering materials manufacturer Rogers jumped 5% in extended trading Wednesday after the Wall Street Journal reported that activist investor Starboard Value took a more than 9% stake in the company. Starboard also plans to seek another round of changes at Rogers in an effort to boost shares, which have lost more than 30% this year on weak demand for battery-powered vehicles.

Starboard had revealed a significant stake in Rogers in early 2023 and attempted for seats on the company’s board, but Rogers quickly settled with Starboard and added two new independent directors, the Journal reported. Starboard had a roughly 1% position as of March 31 per its latest 13F filing.

Rogers performance over the past year.

Check out the companies making headlines in after-hours trading.

• DoorDash — The food delivery company popped 6% after posting second-quarter earnings of 65 cents per share, while analysts polled by LSEG had penciled in 44 cents. The company’s $3.28 billion revenue also came in above the expected $3.16 billion.
• Duolingo — The maker of the language learning app surged about 14%. Duolingo said that it sees third-quarter revenues in the range of $257 million to $261 million, while the LSEG consensus called for $253 million. The company also beat estimates on the top and bottom lines in the second quarter.
• Airbnb — The vacation rental company slid about 7%. Airbnb said that it expects to report revenue ranging from $4.02 billion to $4.10 billion in the third quarter. Analysts polled by FactSet sought $4.05 billion. The forecast overshadowed beats on earnings and revenue in the second quarter.

Other stocks moving in evening trading include IonQ, E.l.f. Beauty and Fortinet. For the full list, read here.

— Pia Singh

Wed, Aug 6 20256:02 PM EDT

The Dow Jones Industrial Average, along with the S&P 500, finished Thursday’s session with losses.

The Dow dropped 224.48 points, or 0.51%, to end at 43,968.64, while the S&P 500 fell 0.08% to close at 6,340.00.

On the other hand, the Nasdaq Composite rose 0.35% to settle the day’s session at 21,242.70.

— Sean Conlon

Stocks may be due for more gains over the coming months, even as they face a seasonally weak period, according to Piper Sandler.

“Our trend and relative strength work continues to support our positive outlook for equity markets in the second half of 2025,” wrote Craig Johnson, chief market technician at Piper Sandler, in a Thursday note. “While historically, the summer doldrums often lead to modest pullbacks in August and September, investors who have doubted this rally are now forced to ‘buy the dips…and not sell the rips’ to play catch-up.”

Johnson added that he’s maintaining his year-end target on the S&P 500 of 6,600, which implies 4% upside from Wednesday’s closing price.

“Based on the weight of the bullish technical evidence, we suspect our price objective will be achieved by mid-October,” he wrote.

— Sean Conlon

Traders work on the floor of the New York Stock Exchange during afternoon trading on August 1, 2025 in New York City.

Michael M. Santiago | Getty Images

The latest gauge of investor sentiment is rife with uneasiness. Counterintuitively, some market strategists think that could be a bullish sign that forces traders to get back into the market and drive stocks higher.

Bearish individual investor sentiment toward stocks over the next six months rose more than 10 percentage points, the most since February, in the latest weekly survey by the American Association of Individual Investors.

Investor sentiment is viewed by many as a contrarian indicator. The idea is that when investors are bearish, they are more likely to have already sold stocks and have more cash on hand to put to work. And when more are bullish, the reverse is true.

“If the poll is bearish, that is encouraging,” Sam Stovall, chief investment strategist at CFRA Research, said in an email to CNBC. “The institutional investor (smart) money tends to look at retail investors as ‘dumb money’ and tends to make near-term price performance projections accordingly.” More here.

— Pia Singh, Scott Schnipper

19 S&P 500 stocks scored new 52-week highs during Thursday’s session, with 14 of them securing fresh all-time highs. Here are some of those names that reached that milestone:

• DoorDash (DASH) trading at all-time highs back to its IPO in December 2020
• O’Reilly Auto trading at all-time high levels back to its IPO in April 1993
• Tapestry trading at all-time highs back to the Coach IPO in October 2000
• BlackRock trading at all-time high levels back to its IPO in 1999
• Nasdaq Inc trading at all-time high levels back to April 2003
• S&P Global trading at all-time high levels back through our history to 1972
• Arista Networks trading at all-time high levels back to its IPO in June 2014
• Broadcom trading at all-time high levels back through Avago history and its IPO in August 2009
• Nvidia trading at all-time high levels back to its IPO in January 1999
• Palantir Technologies trading at all-time highs back to its IPO in September 2020

However, Charter Communications and Eli Lilly both reached new 52-week lows. Charter Communications was trading at lows not seen since May 2024, while Eli Lilly was trading at lows not seen since February 2024.

— Christopher Hayes, Sean Conlon

U.S. Federal Reserve Chair Jerome Powell speaks during a press conference following the issuance of the Federal Open Market Committee’s statement on interest rate policy in Washington, D.C., U.S., July 30, 2025.

Jonathan Ernst | Reuters

Exactly two thirds of individual investors polled, or 66.7%, believe the Federal Reserve’s decision to hold benchmark lending rates steady last week was the right move, according to a special question asked in the latest weekly survey by the American Association of Individual Investors.

Almost a third, or 29.7%, of Main Street investors said the central bank should have cut the fed funds rate from its present 4.25% to 4.50% range. One percent said the Fed should have raised rates and 2.6% were unsure or had no opinion, the AAII said.

— Scott Schnipper

• Warner Brothers Discovery — The parent of HBO Max and TNT Sports slumped more than 6% after saying second-quarter free cash flow totaled $702 million versus a consensus analyst estimate as compiled by StreetAccount of $863 million, while cash from operations came in at $983 million against an expected $1.29 billion.
• AppLovin – Shares of the marketing platform company popped 9%. AppLovin reported second-quarter earnings of $2.26 per share on revenue of $1.26 billion of revenue, while the FactSet consensus called for $1.96 per share and $1.22 billion in revenue. Third-quarter guidance also topped estimates.
• Advanced Micro Devices — The chipmaker rallied 5% Thursday, boosted by the Trump administration’s tariff increases on imported semiconductors, one day after sliding more than 6% in the wake of disappointing second-quarter earnings reported late Tuesday.

Read more here.

— Darla Mercado

In a Thursday note, Bank of America double upgraded telecommunications stock CommScope to a buy rating from underperform.

As a catalyst, analyst Tal Liani pointed to CommScope’s decision to sell its connectivity and cable solutions business for $10.5 billion to fiber optic connector manufacturer Amphenol. This sale makes CommScope’s financial profile look even more attractive, Liani said.

“The agreement with Amphenol is another step in the company’s breakup, designed to eliminate the risk of default, expose the sum-of-parts value, pay down the debt obligations and buy back Carlyle’s preferred equity,” he wrote. “More importantly, the residual is now trading at 3x EV/EBITDA, which leaves additional room for stock upside, in our view.”

Shares of CommScope surged 87% on Monday, following news of the sale, and were last trading almost 2% higher on Thursday. Shares of Amphenol added 4% on Monday but were nearly 1% lower on Thursday. Liani raised his price objective to $20 per share from $4, implying upside of 39% from CommScope’s Wednesday closing price.

COMM, APH 5D chart

Inside a Crocs store at Queens Center in New York.

Ryan Baker | CNBC

Shares of footwear company Crocs declined more than 25% on Thursday, after the firm doubled down on a decision to pull its full-year outlook. The company said it would only provide guidance for the current quarter on its earnings call.

Crocs reported a beat on the top and bottom line on Thursday morning, but said providing an outlook for the full-year would be difficult due to an ” uncertain and challenging” operating backdrop.

Crocs stock.

The stock has lost more than 28% in 2025 is on pace for its worst year since 2016, when shares slipped 33%.

— Brian Evans, Scott Schnipper, Adrian van Hauwermeiren

Leerink downgraded Eli Lilly shares to market perform from outperform, citing disappointing clinical trial results for its oral GLP-1 drug, orforglipron, and an increasingly competitive market for weight loss drugs. The stock fell 13%, hitting a fresh 52-week low intraday

Lilly said its oral GLP-1 drug helped patients with obesity in a phase 3 trial lose an average of 11.2% of their starting weight. That fell short of the benchmark of 13% to 14% weight loss some had been eyeing.

However, Bank of America analyst Tim Anderson said the sell-off was “overdone,” as he reiterated his buy rating and $1,000 price target.

“Yes, weight loss fell a bit short, but ask 100 prescribers whether this new data will really make a difference in who they’d put on orforglipron, and our belief is the vast majority would say, ‘not really,'” Anderson wrote in a note to clients.

Both Lilly and its competitors have been hoping to bring an oral GLP-1 drug to market, thinking it will expand the number of patients interested in the drugs. Pills are often cheaper and easier to manufacture and may be a better option for needle-adverse patients.

Not surprisingly, the trial data was more of a driver of the stock on Thursday. Lilly also reported second-quarter results that were better than expected and raised its forecast, citing strong momentum with its once a week injection for weight loss, Zepbound.

— Christina Cheddar Berk

Federal Reserve Governor Christopher Waller speaks during The Clearing House Annual Conference in New York City, U.S. November 12, 2024. 

Brendan Mcdermid | Reuters

Federal Reserve Governor Christopher Waller has moved to the front of the pack for next chair of the central bank, Bloomberg News report, citing unnamed sources familiar with the matter.

President Donald Trump during his first term appointed Waller to the board of governors. At the Fed’s policy meeting last week, Waller was one of two dissenters from the decision to hold the overnight funds rate steady, preferring instead to start cutting.

Following the report, prediction markets moved sharply to price in a strong possibility that Waller gets the nomination. CNBC has reached out to the White House for comment.

— Jeff Cox

Bitcoin reclaimed the $116,000 level for the first time since July 31, following news that President Donald Trump is set to sign an executive order that would open crypto to the $43 trillion retirement industry. Ether rose more than 4%, also returning to a one-week high.

“That’s a monster pool of capital. What we’re seeing … [is] the aperture of being able to buy crypto being widened and widened, [and] more avenues bringing people into the tent,” Galaxy CEO Michael Novogratz told CNBC’s “Squawk Box” Thursday.

“When it becomes commonplace – when you can do it at the place you’ve already been doing business with, if its Fidelity or T. Rowe Price or whoever it is – you just pull more people into this ecosystem,” he added.

Crypto-linked stocks got a boost of energy as well in morning trading. Coinbase gained almost 4%, while Galaxy Digital surged more than 8%. Ether treasury stock Bitmine Immersion rose more than 10%.

— Tanaya Macheel

Stocks kicked off Thursday’s session in positive territory.

The S&P 500 rose 0.7% after the opening bell, while the Nasdaq Composite jumped 0.9%. The Dow Jones Industrial Average advanced 297 points, or 0.7%.

— Sean Conlon

These are the stocks moving the most in premarket trading:

• Eli Lilly — The pharmaceutical stock dropped more than 7% despite posting a second-quarter earnings and revenue beat.
• Peloton — Shares surged 10% after the exercise equipment manufacturer reported fiscal fourth-quarter revenue of $606.9 million, beating the $580.2 million analysts polled by LSEG had expected.
• Intel — Shares fell about 2% after President Donald Trump said on social media that Intel CEO Lip-Bu Tan should resign.

Read the full list of stocks moving here.

— Lisa Kailai Han

Jobless claims nudged higher last week while long-term unemployment continued to rise, the Labor Department reported Thursday.

Initial filings for unemployment insurance totaled a seasonally adjusted 226,000 for the week ending Aug. 2, up 7,000 from the prior period and higher than the Dow Jones consensus estimate for 221,000.

Also, continuing claims, which run a week behind, continued their ascent. The rolls of those collecting for multiple weeks increased to 1.97 million, up 38,000 from the prior week and the highest since Nov. 6, 2021.

The numbers indicate a still relatively stable labor market, despite a report Friday from the Bureau of Labor Statistics indicating a sharp slowdown in hiring.

In other economic news Thursday, the BLS reported that nonfarm productivity increased 2.4% in the second quarter, higher than the 2% estimate, while unit labor costs rose 1.6%, just 0.1 percentage point above forecast.

—Jeff Cox

Signage at the Warner Bros. Discovery headquarters in New York, US, on Thursday, June 12, 2025.

Victor J. Blue | Bloomberg | Getty Images

Warner Bros. Discovery shares gained more than 3% in the premarket Thursday on the heels of its second-quarter revenue topping estimates.

The company posted $9.81 billion in revenue, while analysts surveyed by LSEG had been expecting $9.76 billion for the quarter.

Warner Bros. Discovery said that it added 3.4 million streaming subscribers during the period, ultimately ending the second quarter with 125.7 million subscribers. On top of that, success at the box office from hit films like “A Minecraft Movie” and “Sinners” helped spur year-over-year studios revenue growth of 55%, the company also said.

WBD, 1-day

Lip-Bu Tan, Chief Executive Officer of Intel, appears at an event organized by the company.

Andrej Sokolow | Picture Alliance | Getty Images

Intel shares sank more than 3% in Thursday’s premarket after President Donald Trump called on CEO Lip-Bu Tan to step down.

While not mentioning Tan by name, Trump said Intel’s chief executive was “highly CONFLICTED and must resign, immediately” in a post on Truth Social.

“There is no other solution to this problem,” Trump wrote.

Intel, 1-day

A tension adjustment dial on a Peloton stationary bicycle inside a store in Palo Alto, California, US, on Monday, Aug. 5, 2024.

David Paul Morris | Bloomberg | Getty Images

Shares of Peloton soared more than 17% in premarket trading Thursday after the company’s fiscal fourth quarter results surpassed Wall Street’s expectations.

The company reported earnings of 5 cents per share, above the 6-cent loss per share that analysts surveyed by LSEG had called for. Its revenue of $607 million also came in higher than the $580 million expected.

Peloton also said it’s going to slash run-rate expenses by another $100 million, half of which will come from cutting 6% of its staff.

PTON, 1-day

The stock’s move higher comes as it’s lagged the broader this year. Year to date, Peloton shares have plummeted nearly 19%, while the S&P 500 has risen almost 8%.

— Gabrielle Fonrouge, Sean Conlon

Traders work on the floor of the New York Stock Exchange during morning trading on Feb. 23, 2024.

Michael M. Santiago | Getty Images

Eli Lilly shares were down 12% in the premarket after the company released trial data on a pill aimed at treating obesity.

Lilly said the highest does of the daily obesity pill helped patients lose more than 12% of their body weight. However, data on how well some patients tolerated the drug was underwhelming, with about 10.3% of patients who took the highest dose stopped the treatment due to side effects.

LLY falls

Asia-Pacific markets closed mostly higher Thursday.

Japan’s Nikkei 225 benchmark rose 0.65% to close at 41,059.15, while the Topix climbed 0.72% to 2,987,92.

Over in South Korea, the Kospi index advanced 0.92% to end the day at 3,227.68, and the small-cap Kosdaq added 0.29% to close at 805.81.

Hong Kong’s Hang Seng Index was 0.69% higher at 25,081.63, while mainland China’s CSI 300 ended the day flat.

Australia’s S&P/ASX 200 bucked the wider trend, closing 0.14% lower at 8,831.4.

— Nur Hikmah Md Ali

Oil rises after U.S. President Donald Trump said he planned to impose a 100% tariff on chip imports, except that of companies that manufactured domestically.

Brent Crude was trading at $67.56 per barrel after moving up 1%, as of 11:50 a.m. Singapore time (11:50 p.m. ET Monday).

Meanwhile, the West Texas Intermediate crude added 1.13% to $65.06.

Oil prices

The Blue Ghost lunar lander at the Firefly Aerospace mission operations center in Leander, Texas, U.S., July 9, 2025.

Sergio Flores | Reuters

Rocket maker Firefly Aerospace priced its shares at $45 apiece, surpassing its expected range as the company prepared for its debut.

Firefly, which will make its initial public offering on the Nasdaq Thursday and trade under the ticker “FLY,” raised $868 million. The $45 share price values the company at roughly $6.3 billion.

The company had an initial pricing range of $35 to $39 and then lifted it to $41 to $43 per share this week.

— Samantha Subin, Darla Mercado

U.S. President Donald Trump speaks, as he and Apple CEO Tim Cook (not pictured) present Apple’s announcement of a $100 billion investment in U.S. manufacturing, in the Oval Office at the White House in Washington, D.C., U.S., August 6, 2025.

Jonathan Ernst | Reuters

President Donald Trump said late Wednesday that he would slap a 100% duty on imports of semiconductors and chips – with an exception for companies that are “building in the United States.”

“We’re going to be putting a very large tariff on chips and semiconductors,” he said, speaking in the Oval Office on Wednesday afternoon.

“But the good news for companies like Apple is if you’re building in the United States or have committed to build, without question, committed to build in the United States, there will be no charge,” Trump added.

Shares of Apple advanced 3% in extended trading, fresh off a 5% gain in the regular session.

Apple shares in the past day

Shares of engineering materials manufacturer Rogers jumped 5% in extended trading Wednesday after the Wall Street Journal reported that activist investor Starboard Value took a more than 9% stake in the company. Starboard also plans to seek another round of changes at Rogers in an effort to boost shares, which have lost more than 30% this year on weak demand for battery-powered vehicles.

Starboard had revealed a significant stake in Rogers in early 2023 and attempted for seats on the company’s board, but Rogers quickly settled with Starboard and added two new independent directors, the Journal reported. Starboard had a roughly 1% position as of March 31 per its latest 13F filing.

Rogers performance over the past year.

Check out the companies making headlines in after-hours trading.

• DoorDash — The food delivery company popped 6% after posting second-quarter earnings of 65 cents per share, while analysts polled by LSEG had penciled in 44 cents. The company’s $3.28 billion revenue also came in above the expected $3.16 billion.
• Duolingo — The maker of the language learning app surged about 14%. Duolingo said that it sees third-quarter revenues in the range of $257 million to $261 million, while the LSEG consensus called for $253 million. The company also beat estimates on the top and bottom lines in the second quarter.
• Airbnb — The vacation rental company slid about 7%. Airbnb said that it expects to report revenue ranging from $4.02 billion to $4.10 billion in the third quarter. Analysts polled by FactSet sought $4.05 billion. The forecast overshadowed beats on earnings and revenue in the second quarter.

Other stocks moving in evening trading include IonQ, E.l.f. Beauty and Fortinet. For the full list, read here.

— Pia Singh

Wed, Aug 6 20256:02 PM EDT