US Close, 25 August 2026: S&P 500 +0.32% as Biotech Offsets DKS.US -30.68%
Sentiment: mixed S&P 500: 7,677.28 (+0.32%) | Nasdaq Composite: 26,151.30 (+0.66%)
The S&P 500 closed at 7,677.28 on 25 August 2026, up 24.42 points or 0.32%, as a 3.00% gain in biotech and a 0.94% rise in technology outweighed selling across retail. DKS.US fell 30.68% to $124.31 after a second-quarter miss and a cut to full-year guidance, the biggest single-name decline of the session. Crude fell 4.59% to US$81.11 after new US sanctions on Iran landed lighter than markets expected, leaving energy last of the eleven sectors at -1.66%.
At a glance
- S&P 500: 7,677.28 (+0.32%, +24.42)
- Nasdaq Composite: 26,151.30 (+0.66%, +171.11)
- Dow Jones: 53,577.40 (+0.30%, +160.24)
- Russell 2000: 3,010.02 (+0.50%)
- VIX: 15.45 (-2.52%)
- US 10-year: 4.639% (down 6.5 basis points)
- US Dollar Index: 98.916 (-0.09%)
The index opened at its high of 7,686.03, traded down to 7,660.62 by mid-session, then recovered into the close. The full day's range was 25 points, or 0.33%.
What moved the index
Sector contributions to the 32 basis point S&P 500 move, using sector ETF returns against approximate index weights. Weights vary by provider, so each figure is a rounded estimate.
| Driver | Move | Approx. contribution |
|---|---|---|
| Technology (XLK.US) | +0.94% | +33 bp |
| Communication services (XLC.US) | +0.77% | +8 bp |
| Health care (XLV.US) | +0.34% | +3 bp |
| Consumer staples (XLP.US) | -1.06% | -5 bp |
| Energy (XLE.US) | -1.66% | -5 bp |
| Consumer discretionary (XLY.US) | -0.30% | -3 bp |
Those six sum to roughly +31 basis points against the index's +32. Technology accounts for the entire net gain, and the remaining ten sectors net to approximately zero.
Session highlights
- MRNA.US +14.36% to $158.83, extending the move that began with the 19 August Phase 3 melanoma readout for intismeran autogene paired with Merck's Keytruda. MRK.US +3.84%, NVAX.US +6.55%, BNTX.US +1.09%.
- XBI.US +3.00% and IBB.US +1.82%, alongside BEAM.US +9.53%, IBRX.US +8.05%, QURE.US +7.56% and TWST.US +7.54%.
- NVDA.US +2.19% to $213.05, snapping a seven-session losing run ahead of Wednesday's quarterly report.
- SMCI.US +9.35% after Cisco named the company in a partnership expanding its AI infrastructure portfolio.
- Bitcoin traded above $80,000 for the first time since mid-May, up about 28% in August. GLXY.US +8.54%, HOOD.US +8.17%, KEEL.US +8.00%, HUT.US +7.47%, APLD.US +7.29%.
- BNS.US +7.18% on third-quarter net income of $2,953 million against $2,527 million a year earlier, with EPS of $1.65 versus a $1.53 consensus.
- Crude settled at US$81.11 (-4.59%) and Brent at US$85.86 (-5.17%). CVE.US -4.38%, PBF.US -4.32%.
Sector scorecard
| Sector (ETF) | Move |
|---|---|
| Technology (XLK.US) | +0.94% |
| Communication services (XLC.US) | +0.77% |
| Health care (XLV.US) | +0.34% |
| Utilities (XLU.US) | +0.21% |
| Financials (XLF.US) | +0.15% |
| Real estate (XLRE.US) | +0.07% |
| Materials (XLB.US) | 0.00% |
| Consumer discretionary (XLY.US) | -0.30% |
| Industrials (XLI.US) | -0.34% |
| Consumer staples (XLP.US) | -1.06% |
| Energy (XLE.US) | -1.66% |
The spread between technology and energy was 2.60 percentage points on a day the index moved 0.32%.
Top movers
| Ticker | Move | Close | Driver |
|---|---|---|---|
| ABCL.US | +17.81% | $12.50 | Biotech buying, XBI.US +3.00% |
| GENB.US | +15.01% | $20.38 | Biotech buying |
| MRNA.US | +14.36% | $158.83 | Melanoma Phase 3 readout of 19 August |
| MAIR.US | +12.09% | $27.99 | No company announcement found |
| PURR.US | +11.56% | $11.87 | Bitcoin above $80,000 |
| Ticker | Move | Close | Driver |
|---|---|---|---|
| DKS.US | -30.68% | $124.31 | Q2 miss, full-year guidance cut |
| MEOBF.US | -10.05% | $1.70 | No company announcement found |
| BBWI.US | -8.29% | $17.58 | Retail selling alongside DKS.US |
| DY.US | -7.65% | $351.80 | Reports Wednesday, no announcement today |
| BETA.US | -7.26% | $22.11 | No company announcement found |
DKS.US reported second-quarter adjusted EPS of $3.53 on revenue of $5.59 billion, missing on both lines, and cut full-year GAAP EPS guidance to a range of $10.94 to $11.94 from $13.27 to $14.27. Dick's-branded stores posted comparable sales of +4.9%, while Foot Locker comparable sales fell 3.6% and management revised that unit's full-year outlook to flat-to-down 2%, citing increased promotion in athletic footwear. ASO.US -5.80%, UAA.US -4.66%, BURL.US -4.65%, BJ.US -4.18% and NKE.US -3.12% fell with it.
After-hours earnings
INTU.US reported fourth-quarter fiscal 2026 results after the close. Revenue rose 14% to $4.4 billion and non-GAAP diluted EPS was $4.03, against consensus near $3.58 to $3.65. Full-year revenue rose 14% to $21.4 billion. Fiscal 2027 guidance is for revenue of $23.28 billion to $23.51 billion, growth of 9% to 10%, and non-GAAP diluted EPS of $22.88 to $23.12. That EPS range is not comparable with fiscal 2026's $24.27: from fiscal 2027 Intuit stops excluding share-based compensation from its non-GAAP measures, an impact of $5.81 per share. The quarter carried a $293 million restructuring charge, and the board raised the quarterly dividend 15% to $1.38.
ZM.US reported second-quarter fiscal 2027 revenue of $1.28 billion, with enterprise revenue up 7.8%, its fastest in three years, and Zoom Virtual Agent customers up 256% year over year. Zoom beat on the quarter and raised its full-year earnings outlook. Its revenue forecast landed in line with expectations, which reporting on the release cited for the share reaction after the bell. HEI.US and BOX.US also reported after the bell.
Notable announcements
- Canada's Finance Department announced retaliatory tariffs answering the 50% US duties imposed over the weekend. Both sides have so far left oil out of the measures, which cover steel, dairy and other goods.
- The Conference Board consumer confidence index fell to 89.4 in August from a revised 90.2, its lowest since January, with the expectations component down 7.8%.
- New home sales fell 10.5% in July to a seasonally adjusted annual rate of 607,000, below the 620,000 consensus and also the weakest since January.
- ALB.US -5.89% after JPMorgan lowered its share-price estimate to $140 from $160 and kept a neutral rating.
Next session catalysts (ET)
- NVDA.US reports after the close on Wednesday, closing today at $213.05.
- DY.US reports Wednesday, with consensus near $4.64 per share.
- Jackson Hole runs later this week, with Fed Chair Kevin Warsh delivering his first symposium keynote on Friday.
- Futures at the close: ES=F 7,690.75 (+0.27%), NQ=F 29,287.50 (+0.62%).
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