Traders work at the New York Stock Exchange on August 20, 2025.
NYSE
U.S. equity futures were little changed on Thursday evening, after the S&P 500 registered a fresh record driven by renewed optimism around the artificial intelligence trade.
Futures tied to the Dow Jones Industrial Average slipped 62 points, or 0.1%. S&P 500 futures pulled back 0.07%, while Nasdaq 100 futures declined 0.09%.
Investors also parsed fresh corporate earnings in extended trading. Shares of Ulta Beauty advanced about 3% after hours following a strong full-year outlook, while Autodesk stock gained more than 10% thanks to better-than-expected guidance. Shares of Dell Technologies slipped 5% following a soft outlook for the current quarter.
Stocks are coming off a winning session, with the S&P 500 closing up 0.3% at 6,501.86 — the first time above the 6,500-mark. Earlier, the broad-based index set an all-time intraday high. The Nasdaq Composite added 0.5%, while the Dow Jones Industrial Average ended the day up about 0.2%. The Dow’s 45,636.90 finish was also a new record.
Better-than-expected quarterly earnings from Nvidia helped solidify investor confidence in the health of the AI trade. Although Nvidia’s earnings initially sparked some concern tied its data center business and only slightly better-than-expected revenue for the current quarter, the report helped lift peer chip stocks that initially pulled back. Nvidia stock ultimately ended the day down less than 1%.
“I think if someone is trying to ring the bell at the top for AI, they’re underestimating how quickly penetration grows. We’re probably in the first quarter or first third of that cycle for AI,” Fundstrat Global Advisors co-founder and head of research Tom Lee told CNBC’s “Power Lunch” on Thursday.
Investors will now turn their attention to fresh inflation data to cap off the final trading day of August with the personal consumption expenditures index. Economists polled by Dow Jones expect that the PCE reading for July will show an increase of 0.2% for the month and 2.6% for the year.
With all three major indexes at or near record highs, the gains for the month have been solid. The 30-stock Dow is up 0.01% week to date, but it has logged a 3.4% advance in August. The S&P 500 has tallied a 0.5% increase week to date, and is up 2.6% so far this month. The tech-heavy Nasdaq added about 1% this week, which has helped boost August’s gain to 2.8%.
Solana is jumping this week while bitcoin and ether take a breather
Institiutional interest is shifting toward Solana this week as bitcoin and ether remain in their pullback.
The token tied to Solana on Thursday rose as high as $216.87, its highest level in six months. It’s up more than 7.5% for the week, compared to bitcoin and ETH’s week-to-date declines of 3% and 6%, respectively. The move also pulls SOL’s month-to-date gain (22%) above ETH’s (20%).
The token has been climbing since VanEck last Friday filed to launch a staked Solana ETF in partnership with the decentralized finance platform Jito. Adding to that momentum was a Bloomberg report earlier this week that Galaxy and Jump are seeking $1 billion for a SOL treasury vehicle.
— Tanaya Macheel
Stocks making the biggest moves after hours
Check out some of the companies making headlines in extended trading.
- Ulta Beauty — The cosmetics and beauty products retailer surged about 6% after raising its full-year earnings and revenue forecast. Ulta expects full-year revenue of $12 billion to $12.1 billion, above the $11.7 billion estimate from analysts polled by LSEG. Ulta expects full-year earnings of $23.85 to $24.30 per share, while analysts were expecting $23.65.
- Ambarella — The semiconductor design company climbed nearly 19% following third-quarter guidance that topped analysts’ estimates. Ambarella expects revenue in the current quarter of $100 million to $108 million, while analysts polled by LSEG had seen $91 million. The firm also topped analyst estimates on the top and bottom line in the second quarter.
- Affirm Holdings — The buy-now-pay-later fintech provider rallied 9% after fiscal fourth-quarter earnings and revenue beat analyst estimates. Affirm earned 20 cents per share on revenue of $876 million, while analysts polled by LSEG were looking for 11 cents per share on $837 million.
Read the full story here.
— Brian Evans
Stock futures are little changed
Stock futures were little changed on Thursday, after the S&P 500 hit a fresh intraday record during regular trading.
Futures tied to the Dow Jones Industrial Average pulled back 57 points, or 0.1%, while S&P 500 futures dipped 0.02%. Nasdaq 100 futures lost 0.06%.
— Brian Evans
