Your Weekly Update for Monday, August 24, 2026.
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Bill Roller
NMLS #107972
CHARTERED FINANCIAL ANALYST
CERTIFIED FINANCIAL PLANNERTM
CHARTERED MARKET TECHNICIAN
bill.roller@beaconrwa.com
Summary
Markets were DOWN last week. The Dow Jones Industrial Average was DOWN 0.85% to 53,277.00 while the S&P500 ended DOWN 1.43% to 7,674.37. The Nasdaq Composite FELL 2.05% to 26,180.46. The annual yield on the 30-year Treasury ROSE 1.1 basis point(s) to 5.276%.
Last Week
Closing Market Summary: DJIA leads broad Friday rebound
Stocks bounced back from Thursday’s broad selloff on Friday, with strength across most areas of the market helping the major averages recover a portion of their losses. The S&P 500 (+0.4%) and Nasdaq Composite (+0.4%) posted modest gains, while the DJIA (+1.0%) outperformed as broader participation and its relatively limited exposure to semiconductor weakness worked in its favor. The rebound extended well beyond the large-cap benchmarks. The Russell 2000 (+0.9%) outperformed, while the S&P MidCap 400 (+0.4%) finished in line with the S&P 500.
The utilities sector (-2.3%) was the only S&P 500 sector to post a sizable decline. A continued rally in precious metals provided one of the clearest sources of leadership. The materials sector (+2.2%) topped the sector standings as Newmont Corporation (NEM 131.58, +3.94, +3.09%) and Freeport-McMoRan (FCX 76.67, +5.45, +7.65%) posted strong gains. Gold futures jumped $110.50 (+2.4%) to $4,680.10 per ounce, extending their August advance to nearly $600 per ounce, while silver added 2.1% to $69.56 per ounce.
The health care sector (+1.3%) also remained near the top of the standings as Moderna (MRNA 145.13, +11.81, +8.86%) rebounded after giving back a portion of Wednesday’s massive cancer-vaccine-driven rally on Thursday.
Strength in banking and crypto-related names helped the financials sector (+1.0%) outperform. Robinhood Markets (HOOD 108.13, +13.03, +13.70%) and Coinbase Global (COIN 186.49, +14.14, +8.20%) were among the S&P 500’s strongest components as Bitcoin extended its surge this week, providing another source of support for a sector that also benefited from gains across several large banks.
Company-specific catalysts contributed to the consumer discretionary sector’s (+0.9%) advance. Tesla (TSLA 362.86, +17.73, +5.14%) rallied after Nevada approved robotaxi services in Clark County, while Target (TGT 165.42, +7.17, +4.53%) extended its post-earnings momentum to a new multi-year high and Ross Stores (ROST 239.04, +10.05, +4.39%) advanced following its earnings report.
Mega-cap stocks generally participated in the rebound as well. Alphabet (GOOG 341.75, +3.55, +1.05%) and Meta Platforms (META 549.90, +4.07, +0.75%) helped lift the communication services sector (+0.9%), while the Vanguard Mega Cap Growth ETF gained 0.4%.
Semiconductors remained a relative weak spot, although the group improved from its midday levels. The PHLX Semiconductor Index finished 0.5% lower, capping a difficult week for chip stocks and keeping the information technology sector flat despite strength in software. Marvell (MRVL 237.04, -13.97, -5.57%) was a notable laggard as investors took profits following Wednesday’s nearly 10% surge on news of its expanded custom-silicon agreement with Alphabet.
Crude oil finished little changed, removing one of the headwinds that contributed to Thursday’s selloff and leaving the energy sector (-0.2%) with a modest loss. Treasury yields remained an important focus after this week’s volatility at the long end, but neither rates nor oil prevented broader participation in Friday’s rebound.
Friday’s advance provided a constructive end to a volatile week, with strength in materials, financials, health care, consumer names, and small-cap stocks offsetting another softer showing from semiconductors. The broad participation helped the DJIA outperform and allowed the market to recover some of Thursday’s decline, even as continued weakness in chip stocks kept the S&P 500 and Nasdaq’s gains more modest. Attention will quickly turn to another busy week of potential catalysts. Wednesday’s July Personal Income and Spending report will feature the Fed’s preferred PCE Price Index, while the earnings calendar includes several retailers and high-profile software companies. NVIDIA’s (NVDA 214.76, -2.09, -0.96%) report after Wednesday’s close will be the centerpiece, particularly after the sharp swings across semiconductor and AI-related stocks this week.
U.S. Treasuries finished the week on a lower note with little to show for after a brief midweek boost, which followed news that the Treasury will increase the upper limit of its buybacks of longer tenors. The Friday session was a unidirectional affair, as the long bond opened with a slim loss while shorter tenors started near their flat lines before spending the remainder of the session in a steady retreat that lifted the 30-year yield toward its closing level from Tuesday while the 10-year yield finished just below its 2026 high from the end of July. The 2-year note yield settled up four basis points to 4.23% (+6 basis points this week), and the 10-year note yield settled up four basis points to 4.74% (+4 basis points this week).
- Russell 2000: +21.6% YTD
- S&P Mid Cap 400: +15.9% YTD
- Nasdaq Composite: +12.6% YTD
- S&P 500: +12.1% YTD
- DJIA: +10.9% YTD
Reviewing today’s data:
- Flash August S&P Global U.S. Services PMI checked in at 56.8, from the prior reading of 54.6.
- Flash August S&P Global U.S. Manufacturing PMI came in at 53.2, from the previous level of 53.9
This Week
S&P futures vs fair value: -20.00. Nasdaq futures vs fair value: -150.00.
Equity futures point to a lower opening as the market navigates several notable developments this morning.
Oil is moving lower after last week’s surge, providing some reprieve to the broader market ahead of Treasury Secretary Scott Bessent’s 1:00 p.m. ET press conference, at which he will reveal economic sanctions against Iran. On a related note, CNN reports the U.S. Navy is escorting ships through the Strait of Hormuz at night with their transponders off, and Oil traffic could be double what Wall Street analysts and tracking sites suggest.
Treasury yields are moving modestly lower with oil this morning, though elevated yields, particularly in longer-dated Treasuries, continue to be a headwind for the market. CNBC reports that Treasury Secretary Scott Bessent could tap into Treasury’s $1 trillion General Account to buy back bonds.
Meanwhile, weakness across semiconductor components continues to limit growth at the index level, with NVIDIA (NVDA 214.67, -0.04, -0.0%) set to release its earnings Wednesday after the close.
There is no economic data of note on the calendar today, but the market will receive an important inflation reading with the July Personal Income and Spending Report on Wednesday.
In corporate news:
- Anthropic’s Fable 5 is seeing weak demand from corporate clients, according toFinancial Times.
- Hims and Hers (HIMS 87, -0.91, -2.7%) put on notice by Visa (V) for excessive complaints in its weight loss subscription unit, according to Bloomberg.
- NVIDIA (NVDA67, -0.04, -0.0%) customers were notified of artificial intelligence price increases of 15%, according to Bloomberg.
Reviewing overnight developments:
Equity indices in the Asia-Pacific region began the week on a broadly lower note with South Korea’s Kospi (-3.1%) showing relative weakness. Japan’s Nikkei: -0.7%, Hong Kong’s Hang Seng: -1.9%, China’s Shanghai Composite: -0.6%, India’s Sensex: -0.2%, South Korea’s Kospi: -3.1%, Australia’s ASX All Ordinaries: +0.5%.
In news:
- Japan’s Ministry of Finance is expected to set the assumed interest rate for FY27/28 at 3.8% for debt cost calculations.
- Anticipation is building ahead of Thursday’s scheduled speech from Bank of Japan Deputy Governor Himino, who is likely to hint at more rate hikes.
- Alibaba lost nearly 10% in Hong Kong after pricing a $10 bln share offering.
In economic data:
- Singapore’s July CPI -0.2% m/m (last 0.0%); 2.2% yr/yr (last 1.9%)
- New Zealand’s Q2 Retail Sales -0.5% qtr/qtr (expected 0.1%; last 1.0%) and Core Retail Sales 0.7% qtr/qtr (expected 0.3%; last 1.1%)
Major European indices trade near their flat lines with Spain’s IBEX (+0.4%) showing relative strength. STOXX Europe 600: +0.1%, Germany’s DAX: -0.1%, U.K.’s FTSE 100: +0.1%, France’s CAC 40: -0.1%, Italy’s FTSE MIB: +0.1%, Spain’s IBEX 35: +0.4%.
In news:
- Overall action has been restrained by anticipation ahead of Treasury Secretary Bessent’s press conference about the economic pressure campaign against Iran.
- British Prime Minister Burnham visited Ukraine, pledging additional military help.
- European Central Bank policymaker Cipollone said that he does not see any signs of stagflation.
There is no economic data of note today.
Mortgage Rates
“The 30-year fixed-rate mortgage declined this week averaging 6.65%,” said Sam Khater, Freddie Mac’s Chief Economist. “With a dip in rates providing modest relief for homebuyers, it’s important to remember borrowers can potentially save thousands by shopping around for the best mortgage rate.”
The 30-year FRM averaged 6.65% as of August 20, 2026, down from last week when it averaged 6.67%. A year ago at this time, the 30-year FRM averaged 6.58%.
The 15-year FRM averaged 5.95%, down from last week when it averaged 5.96%. A year ago at this time, the 15-year FRM averaged 5.69%.
Freddie Mac’s Primary Mortgage Market Survey® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit. Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Borrowers may still pay closing costs which are not included in the survey.
Through our relationship with Mortgage Window, Inc. (NMLS 2485156) in Vancouver Washington we originate residential and reverse mortgages.
If you know someone age 62 or over who is feeling stressed financially and considering a reverse mortgage please send them this excellent piece with general information about reverse mortgages at: https://beaconrwa.com/reversemortgageguidebrwa/
Selected Cryptocurrencies
| Symbol | Name | Price | 24h % | 7d % | Market Cap | Volume(24h) |
| BTC | Bitcoin | $78,130.01 | 1.40% | 22.85% | $1.56T | $35.45B |
| ETH | Ethereum | $2,484.19 | 2.56% | 30.59% | $300.18B | $19.71B |
| XRP | XRP | $1.49 | 0.33% | 49.44% | $93.72B | $6.16B |
| BNB | BNB | $701.60 | 1.27% | 16.16% | $93.42B | $1.62B |
| SOL | Solana | $94.85 | 0.51% | 25.67% | $55.32B | $4.15B |
| TRX | TRON | $0.34 | 0.05% | 3.55% | $32.62B | $463.01M |
| HYPE | Hyperliquid | $79.81 | -0.24% | 34.54% | $20.11B | $881.67M |
| DOGE | Dogecoin | $0.09 | -0.70% | 30.67% | $14.24B | $1.17B |
| ZEC | Zcash | $839.49 | 3.07% | 64.45% | $14.13B | $1.55B |
| LINK | Chainlink | $11.62 | 2.29% | 21.76% | $8.69B | $499.67M |
| LEO | UNUS SED LEO | $9.38 | -1.00% | -0.54% | $8.62B | $366.33K |
| ADA | Cardano | $0.22 | -1.04% | 27.17% | $8.14B | $603.53M |
| XMR | Monero | $420.74 | -1.87% | 1.39% | $7.9B | $93.65M |
| XLM | Stellar | $0.20 | 0.82% | 25.09% | $6.83B | $266.39M |
| BCH | Bitcoin Cash | $272.15 | -0.89% | 33.16% | $5.46B | $212.89M |
| CC | Canton | $0.13 | 8.54% | 35.49% | $5.01B | $33.95M |
| LTC | Litecoin | $52.72 | 0.88% | 19.33% | $4.08B | $359.58M |
Data as of 5:15 AM PDT, Monday, August 24, 2026. Source: https://coinmarketcap.com
Sources: Bill Roller, BR Capital, Inc. dba Beacon Rock Wealth Advisors American Association for Individual Investors (AAII), Associated Press, Barclays Capital, Bloomberg, Briefing.com, Citigroup, Deutsche Bank, FactSet, Financial Times, Goldman Sachs, JPMorgan Asset Management, MarketfieldAsset Management, Morgan Stanley, MSCI, Morningstar, Northern Trust, Oppenheimer Funds, PIMCO, Standard & Poor’s, StockCharts.com, The Conference Board, Thomson Reuters, T. Rowe Price, U.S. Bureau of Economic Analysis, U.S. Federal Reserve, Wall Street Journal, The Washington Post. Index performance is shown as total return, which includes dividends, with the exception of MSCI-EM, which is quoted as price return/excluding dividends. Performance for the MSCI-EAFE and MSCI-EM indexes is quoted in U.S. Dollar investor terms.
The information above has been obtained from sources considered reliable, but no representation is made as to its completeness, accuracy or timeliness. All information and opinions expressed are subject to change without notice. Information provided in this report is not intended to be, and should not be construed as, investment, legal or tax advice; and does not constitute an offer, or a solicitation of any offer, to buy or sell any security, investment or other product BR Capital, Inc. dba Beacon Rock Wealth Advisors is a registered investment advisor.