Market Close Summary Stocks Retreat, Gold Trading at All Time High

# Market Close Summary: Stocks Retreat, Gold Trading at All Time High

**Note**: This is the Market Close Summary, generated at the end of the US session. All data is EOD for today’s indices. All economic event times are in US Eastern Time (New York time).

## 1. Summary of Indices and Main Events

### Major US Indices Performance

**Note**:
– Prices are in USD.
– Daily Change (%) is calculated as (Close – Previous Close) / Previous Close * 100.
– ‘N/A’ indicates data not available.

### Main Events

**Market Overview**

As the U.S. markets closed for the day, major indices experienced declines, reflecting a cautious sentiment among investors. The S&P 500 ended at 6,415.54, down 0.69%, while the Nasdaq dropped 0.82% to close at 21,279.63. The Dow Jones Industrial Average (DJIA) fell 0.55%, finishing at 45,295.81. Market participants were particularly focused on recent corporate earnings reports and geopolitical developments, including tariff-related news that has created uncertainty in various sectors.

**Market Reactions and Stock Movements**

One of the standout performers of the day was Google, whose stock surged by 8% after-hours following a favorable ruling in its antitrust case. The ruling came nearly a year after a U.S. judge determined that Google held an illegal monopoly in the internet search market. This positive outcome not only buoyed Google’s shares but also provided a much-needed boost to investor sentiment in the tech sector, which has faced scrutiny over regulatory challenges.

In contrast, shares of Kraft Heinz fell by 7% after Warren Buffett expressed disappointment in the company’s recent split. Buffett’s remarks highlighted concerns over the company’s strategic direction, leading to a sell-off among investors seeking clarity on future growth.

The technology sector also saw mixed reactions, with Salesforce under pressure as investors awaited more substantial growth from its new artificial intelligence tool, Agentforce. The company has struggled this year, and stakeholders are eager to see how it can leverage AI for customer service enhancements.

**Geopolitical Factors and Tariffs**

Geopolitical factors were a significant focus today, particularly surrounding tariffs. A recent ruling by a federal appeals court deemed most of former President Donald Trump’s global tariffs illegal, raising questions about the future of U.S. trade policy. Trump’s request for an expedited ruling from the Supreme Court to appeal this decision has added another layer of uncertainty for businesses and investors alike.

The implications of this ruling are profound, especially for the shipping industry, which now faces uncertainties regarding refunds on collected tariffs and the status of ongoing trade deals. The prospect of having to refund tariff money has led to a jump in U.S. Treasury yields, with the 30-year yield surpassing 4.97%. This increase reflects investor anxiety as they brace for the potential fallout from the tariff situation.

**Corporate Earnings and Strategic Moves**

In the realm of corporate earnings, several companies made headlines today. Waymo announced it is expanding its robotaxi service into new markets, including Denver and Seattle, as part of its strategy to solidify its position in the burgeoning autonomous vehicle sector. This move signals a commitment to innovation and growth in a competitive landscape.

Meanwhile, OpenAI’s acquisition of Statsig for $1.1 billion was also noteworthy, as it aims to enhance its capabilities in AI applications. This acquisition underscores the ongoing trend of consolidation in the tech sector, where companies are looking to bolster their competitive edge through strategic partnerships and acquisitions.

In the retail sector, Amazon’s decision to end its Prime free shipping sharing program in favor of Amazon Family has drawn attention. This shift indicates a strategic move to streamline its offerings while ensuring that users share the same address, which could impact consumer behavior and sales.

**Current Market Overview**

As the trading day concluded, the overall market sentiment remained cautious amid the backdrop of geopolitical uncertainties and mixed corporate earnings. The declines in major indices reflect investors’ wariness regarding regulatory challenges and the implications of recent court rulings on tariffs. While some companies, like Google, managed to post significant gains, others faced headwinds that contributed to broader market declines.

In summary, today’s market activity was characterized by a blend of corporate developments and geopolitical factors, leading to a complex trading environment. Investors are likely to remain vigilant in the coming days as they await further economic data, particularly the key jobs report scheduled for release on Friday, which could provide additional insights into the health of the U.S. economy and influence market direction.

## 2. Economy and Geopolitics

As of the close of the US markets on September 1, 2025, several significant economic events have unfolded, impacting market expectations and sentiment.

The Eurozone’s Consumer Price Index (CPI) for August came in as expected at 2.1%, indicating stable inflationary pressures within the region. This alignment with forecasts suggests no immediate shifts in monetary policy from the European Central Bank, providing a level of reassurance to investors.

In the United States, the S&P Global Manufacturing PMI for August reported at 53.0, slightly below the forecast of 53.3. This modest miss may indicate a slight cooling in manufacturing activity, which could weigh on investor sentiment regarding economic growth. More concerning was the ISM Manufacturing PMI, which fell to 48.7, below the anticipated 49.0, signaling contraction in the manufacturing sector. Additionally, the ISM Manufacturing Prices index also disappointed, coming in at 63.7 against a forecast of 65.1, suggesting that cost pressures may not be as severe as previously thought.

## 3. Corporate Earnings

Affirm reported a strong quarterly performance, with earnings per share (EPS) of 20 cents, significantly surpassing Wall Street’s expectations. Analysts had anticipated a lower figure, making Affirm’s results a notable earnings surprise. In addition to the impressive EPS, the company also exceeded revenue forecasts, contributing to a robust market reaction. Following the earnings announcement, Affirm’s stock surged by 15%, reflecting investor confidence in the company’s performance and future prospects. This positive momentum suggests a strong positioning in the market, as Affirm continues to capitalize on its growth strategies. Overall, the earnings report has reinforced investor sentiment, leading to a substantial increase in the company’s stock value.

## 4. Asset Classes Tables

### Major Currency Pairs