The Daily Market Flux - Your Complete Market Rundown (08/20/2025)

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Here is Your Complete Market Rundown (08/20/2025)

Company News

Lowe's Companies, Inc. (LOW)

Performance Overview

1D Change:  0.23%

5D Change:  0.31%

News Volume:  136

Unusual Volume Factor:  13x

Lowe's Surges on Strong Earnings and $8.8 Billion Acquisition to Boost Pro Business

Lowe's Companies, Inc. has made headlines today with its strong second-quarter earnings report and a major acquisition announcement. The home improvement retailer reported better-than-expected quarterly profits, with adjusted earnings per share of $4.33, surpassing analysts' estimates of $4.24. The company's revenue for Q2 came in at $23.96 billion, in line with expectations and up 2% year-over-year. Comparable sales also showed growth, increasing by 1.1% compared to the same period last year.

Full coverage of $LOW on MarketFlux.io

Target Corporation (TGT)

Performance Overview

1D Change:  -6.29%

5D Change:  -6.3%

Target Shakes Up Leadership as Sales Slump Persists, Stock Tumbles on CEO Transition

Target Corporation, one of America's leading retailers, has announced significant changes in its leadership and reported its second-quarter earnings for 2025, sparking a tumultuous day for the company's stock.

Full coverage of $TGT on MarketFlux.io

Analog Devices, Inc. (ADI)

Performance Overview

1D Change:  6.14%

5D Change:  3.0%

Analog Devices Beats Earnings Estimates, Forecasts Strong Growth Amid Chip Recovery

Analog Devices, Inc. (ADI) has reported its fiscal third quarter 2025 financial results, surpassing analysts' expectations and causing its stock to rise. The semiconductor device company posted adjusted earnings per share of $2.05, beating the estimated $1.95, and revenue of $2.88 billion, exceeding the forecast of $2.76 billion. This performance was driven by double-digit growth across all segments and strong free cash flow.

Full coverage of $ADI on MarketFlux.io

Geopolitics Events

Trump Demands Fed Governor Cook's Resignation Amid Mortgage Fraud Allegations

In a dramatic turn of events, President Donald Trump has called for the immediate resignation of Federal Reserve Governor Lisa Cook. The demand comes in the wake of allegations tying Cook to possible mortgage fraud. According to reports, a Trump ally claims Cook declared two homes as "primary residences" to secure better loan terms, raising questions about her financial practices.

Trump Rules Out Ground Troops for Ukraine, Russia Signals Openness to Talks

President Donald Trump has ruled out deploying U.S. ground troops in Ukraine but signaled potential air support as part of a security pact. This decision comes amidst ongoing discussions about Ukraine's security guarantees and the broader geopolitical landscape.

Sanders Backs Trump's Plan for Government Stake in Intel

Senator Bernie Sanders supports the Trump administration's proposal to convert Intel's CHIPS Act award into a government-held stake.

China Strengthens Ties with Afghanistan, Plans Yuan Expansion, and Addresses Economic Challenges

China is actively engaging in diplomatic and economic initiatives across Asia. In a meeting with Afghanistan's foreign minister, China expressed willingness to deepen political trust and enhance cooperation in various sectors. The two nations also discussed Afghanistan's potential formal joining of the Belt and Road Initiative.

NATO Chiefs Reaffirm Ukraine Support, Discuss Rapid Response Security Guarantees

NATO defense chiefs concluded a meeting focused on Ukraine, with the Military Committee Chair highlighting a "great candid discussion" and reaffirming support for the country. European leaders are considering a security guarantee for Ukraine, potentially committing allies to decide on military support within 24 hours if Russia attacks again.

Trump Blasts Renewable Energy, Vows to Block Wind and Solar Projects

President Trump takes to Truth Social, lambasting wind and solar energy projects. He claims states relying on these renewable sources are experiencing record-breaking increases in electricity costs.

Trump Administration Sanctions ICC Officials, Sparking International Backlash

The Trump administration has imposed fresh sanctions on four International Criminal Court (ICC) officials from Canada, France, Fiji, and Senegal. The move targets judges and deputy prosecutors involved in efforts to prosecute Americans and Israelis.

Macro Events

UK Inflation Hits 18-Month High, Driven by Rising Airfares and Hotel Prices

UK inflation has surged to its highest level in 18 months, reaching 3.8% in July, surpassing economists' expectations of 3.7%. This increase from June's 3.6% marks a significant uptick in the country's ongoing battle with rising prices.

Fed Minutes Reveal Inflation Worries Outweigh Job Concerns, Tariff Impact Debated

The Federal Reserve's latest minutes reveal a growing concern among officials about inflation risks outweighing employment risks. Many participants noted that the full effect of tariffs could take some time to materialize, with several expecting companies to pass these costs onto customers. The majority of Fed officials worried about inflation moving higher, with some suggesting it would be imprudent to wait for complete clarity on tariffs' effects before adjusting monetary policy.

Bond Markets Roil as India Yields Surge, UK Inflation Persists, and Crypto Eyes Treasury Purchases

India's company yields are set to rise significantly, reminiscent of 2022 levels, due to fiscal risks. Meanwhile, the bond market faces uncertainty amid Fed decisions, with inverted and steepening yield curves both signaling bearish outlooks.

Brazilian Judge Defies U.S. Sanctions as ICC Condemns American Action

A Brazilian judge targeted by new U.S. sanctions has warned local banks against applying these measures. The judge, Supreme Court Justice Moraes, expects President Trump to reverse the sanctions, citing internal concerns from the U.S. State Department and Treasury.

Technology Events

AI Sector Booms as OpenAI Eyes Public Offering and Privacy Concerns Surface

In a flurry of AI-related news, several major developments have captured the tech world's attention. Elon Musk's xAI made headlines by publishing hundreds of thousands of conversations from its Grok chatbot, raising concerns about user privacy and data handling practices. The AI assistant market is projected to surge to $21.11 billion by 2030, with tech giants Microsoft, Google, and Salesforce leading the charge.

Google Unveils AI-Powered Pixel 10 Lineup, Showcasing Advanced Features and New Devices

Google has unveiled its highly anticipated Pixel 10 lineup at the Made by Google 2025 event, showcasing a range of new smartphones and devices powered by advanced AI technology. The new Pixel 10 series includes the base Pixel 10, Pixel 10 Pro, Pixel 10 Pro XL, and the innovative Pixel 10 Pro Fold, all featuring the new Tensor G5 processor.

AI Stocks Plummet Amid Bubble Fears, While Robotics Startup FieldAI Secures Major Funding

Wall Street tumbles as AI-related stocks face a sharp selloff. Nvidia and Palantir lead the decline, sparking fears of an AI bubble. The Nasdaq slides, rattling tech investors.

Microsoft Tightens Cybersecurity Measures, Limits Chinese Firms' Early Access

Microsoft has restricted early access to cybersecurity vulnerability information for Chinese companies.

Nvidia and Gates-Backed Robotics Startup FieldAI Secures Massive Funding, Hits $2 Billion Valuation

FieldAI, a robotics startup backed by Nvidia and Bill Gates, raises $405 million in new funding.

Google Unveils AI-Powered Pixel 10 Smartphones with Enhanced Tensor Processor

Google unveils its Pixel 10 smartphone series, showcasing advanced AI capabilities powered by the upgraded Tensor G5 processor.

Amazon Considers Android Switch for Fire Tablets in Strategic Revamp

Amazon plans to replace its custom-built software with Android in a major overhaul of Fire tablets, according to sources.

IonQ Surpasses 1,000 IP Assets, Secures Key Quantum Computing Patents

IonQ, a leader in trapped-ion quantum computing, has surpassed 1,000 total IP assets. The company was granted new U.S. patents for secure long-distance quantum networking and self-aligned fabrication processes.

Oil And Gas Events

US Crude Oil Inventories Plunge, Gasoline Stocks Drop, While Distillates Rise

EIA reports show significant changes in US oil inventories. Crude oil stocks plummeted by 6.014M barrels, far exceeding forecasts. Gasoline inventories also fell by 2.72M barrels.

Russia Seeks to Boost Energy Ties with India, Eyeing LNG Exports and Nuclear Cooperation

Russia's First Deputy PM Manturov highlights potential for LNG exports to India, as Russian officials explore new energy markets.

Currencies Events

China Considers Yuan-Backed Stablecoins in Bold Move to Boost Currency's Global Reach

In a significant policy shift, China is reportedly considering the use of yuan-backed stablecoins for the first time. This move is aimed at boosting the global usage of its currency and challenging the dominance of the U.S. dollar. Sources indicate that the proposal will be discussed at the upcoming Shanghai summit this month, marking a potential reversal of China's long-standing restrictions on cryptocurrencies.

Earnings Events

TJX and Target Beat Q2 Earnings Expectations, TJX Raises Outlook

TJX Companies reported strong Q2 FY26 earnings, surpassing estimates with revenue of $14.4B (up 7% YoY) and EPS of $1.10 (up 15% YoY). The company raised its FY26 outlook, expecting 3% comp sales growth and EPS of $4.52-$4.57.

Lowe's Beats Q2 Estimates, Raises Sales Outlook, and Announces Major Acquisition

Lowe's Q2 earnings surpassed expectations, with EPS of $4.33 beating the $4.24 forecast. The company raised its full-year sales outlook to $84.5B-$85.5B but slightly lowered its EPS forecast to $12.20-$12.45.

Corporate Actions Events

Guess Accepts $1.4 Billion Buyout Offer, Set to Go Private

Guess agrees to a $1.4 billion take-private deal with Authentic Brands Group and its co-founders. Shareholders will receive $16.75 per share, a 73% premium.

Dayforce Stock Surges Amid $11 Billion Takeover Talks with Thoma Bravo

Dayforce, a human resources software provider, is in advanced talks with Thoma Bravo for a potential $11 billion acquisition.

Quantum Computing Firm Quantinuum Explores $10 Billion Valuation in Potential Fundraising

Honeywell International and other backers of Quantinuum are exploring fundraising options for the quantum computing firm.

XOMA Royalty Subsidiary to Acquire Mural Oncology in Multi-Million Dollar Deal

Mural Oncology has agreed to be acquired by XRA 5 Corp, a subsidiary of XOMA Royalty. The deal values Mural at $2.035 to $2.24 per share in cash, representing a 98% premium.

Crypto Events

Bond Markets Roil as India Yields Surge, UK Inflation Persists, and Crypto Eyes Treasury Purchases

India's company yields are set to rise significantly, reminiscent of 2022 levels, due to fiscal risks. Meanwhile, the bond market faces uncertainty amid Fed decisions, with inverted and steepening yield curves both signaling bearish outlooks.

Powell Expected to Maintain Flexibility on Rate Cuts at Jackson Hole as Bitcoin Faces Potential Downturn

Anticipation builds for Federal Reserve Chair Jerome Powell's upcoming speech at the Jackson Hole conference on Friday. Market expectations lean towards potential rate cuts, but Powell is likely to keep his options open, avoiding firm commitments on September easing.

Fed Official Downplays Crypto's Threat to Financial Stability

Federal Reserve's Bostic states that cryptocurrency's current size doesn't pose a threat to financial stability.

Fixed Income And Interest Rates Events

Bond Markets Roil as India Yields Surge, UK Inflation Persists, and Crypto Eyes Treasury Purchases

India's company yields are set to rise significantly, reminiscent of 2022 levels, due to fiscal risks. Meanwhile, the bond market faces uncertainty amid Fed decisions, with inverted and steepening yield curves both signaling bearish outlooks.

Treasury's 20-Year Bond Auction Sees Strong Demand, Yields Dip

The US Treasury's 20-year bond auction yielded positive results. The high yield rate was 4.876%, slightly below the when-issued yield of 4.877%, marking a 0.1 basis point stop-through.

RBNZ Governor: Interest Rate Cuts Yield Slower-Than-Expected Results Amid Global Uncertainties

RBNZ Governor Hawkesby reports that the reaction to recent interest rate cuts has been slower than anticipated.

Trump Amasses Over $100 Million in Bonds During Presidency

President Trump has embarked on a significant bond-buying spree since taking office, amassing over $100 million in various bonds. His purchases include corporate bonds from companies like UnitedHealth and Meta, as well as bonds from local governments and school boards.

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The Coinheads aren’t just performers at BitcoinPalooza—they are the stars and founders, and here’s why they shine at the heart of the event:

1. Creators of the Experience

• Coinheads designed and launched BitcoinPalooza, shaping it as a festival that merges crypto, culture, and entertainment.
• Their vision ensures the event isn’t just a conference—it’s a vibrant celebration of Bitcoin lifestyle.

2. Cultural Pioneers

• As a cyberpunk meme band, they represent the innovative, playful, and rebellious spirit of the Bitcoin community.
• Their music, visuals, and stage shows reflect the ethos of decentralization, digital creativity, and crypto culture.

3. Community Builders

• They’ve cultivated a loyal, engaged community of Bitcoin enthusiasts, artists, and festival-goers.
• By founding the event, they create a space where this community can connect, network, and celebrate together.

4. Stars of the Stage

• Their live performances are the highlight of every BitcoinPalooza, blending music, memes, NFTs, and interactive experiences.
• Attendees don’t just watch a show—they participate in the culture Coinheads have built from the ground up.

The Daily Market Flux - Your Complete Market Rundown (08/19/2025)

Market Flux is the new standard in financial news aggregation, we’re committed to providing you with a complete, real-time view of the financial world.

Our platform aggregates and organizes all relevant market news, helping you stay informed, up-to-date, and knowledgeable without spending hours sifting through headlines.

Reinvented to keep you in control, it's where your edge begins with better information. Go from market noise to clarity in seconds with a real-time platform built to redefine how traders and investors digest financial news.

Visit www.marketflux.io

Here is Your Complete Market Rundown (08/19/2025)

Geopolitics Events

Trump Brokers Potential Putin-Zelenskyy Summit, Markets React to Peace Prospects

President Donald Trump's recent diplomatic efforts have taken center stage in global affairs, focusing on potential peace talks between Russia and Ukraine. Following meetings with European leaders and Ukrainian President Volodymyr Zelenskyy, Trump announced preparations for a direct meeting between Zelenskyy and Russian President Vladimir Putin, with the possibility of a trilateral summit to follow.

Trump Pushes for Putin-Zelensky Summit, Floats Air Support for Ukraine in Peace Efforts

In a flurry of diplomatic activity, the White House has announced that President Donald Trump is actively working to broker peace between Russia and Ukraine. The administration is pushing for direct talks between Russian President Vladimir Putin and Ukrainian President Volodymyr Zelensky, with Trump potentially playing a mediating role.

SoftBank Invests $2 Billion in Intel Amid Government Stake Discussions

SoftBank has invested $2 billion in Intel, acquiring a stake in the struggling US chipmaker. This move comes days after reports that the Trump administration is considering a 10% stake in Intel.

Trump's Expanded Tariffs Shake Industries, Black Beauty Businesses Hit Hard

President Trump's expanded steel tariffs are causing widespread economic ripples. Swiss army knife maker Victorinox is contemplating production shifts to mitigate tariff impacts.

US Housing Starts Surge Unexpectedly, Building Permits Decline

The US housing market showed unexpected strength in July, defying economists' predictions. Housing starts surged to 1.428 million units, a 5.2% increase from June and significantly higher than the estimated 1.290 million. This robust growth indicates strong construction activity, potentially boosting homebuilder stocks.

Trump Outlines Ukraine Security Plans, Rules Out NATO Membership

President Trump has made several statements regarding the ongoing conflict in Ukraine during a Fox News interview. He emphasized that Ukraine cannot be part of NATO but suggested some form of security arrangement could be provided. Trump expressed his view that Ukraine has historically served as a buffer between Russia and Europe.

India-China Relations Improve as Both Nations Seek Dialogue and Cooperation

China's Foreign Ministry expresses support for dialogue and peace efforts regarding the Trump-Zelenskiy meeting. Meanwhile, India-China relations show signs of improvement.

Putin Agrees to Advance Peace Process, U.S. Officials to Coordinate with Ukraine

White House Press Secretary Leavitt announces a breakthrough in Russia-Ukraine peace talks. Russian President Putin has agreed to begin the next phase of the peace process.

Trump's Interest Rate Demands Stir Markets as Global Bond Yields Fluctuate

President Trump's demands for lower interest rates have brought the concept of 'fiscal dominance' into the market spotlight. This has led to a steepening of the US yield curve, with increased Treasury issuance pushing up long-term rates. Despite these pressures, Treasury yields fell after S&P maintained the U.S. credit rating.

India and China Agree to Resume Direct Flights, Boosting Bilateral Ties

India and China have reached an agreement to restore direct flight connectivity between the Chinese mainland and India as soon as possible.

Trump's Rate Demands Spark Market Shifts as Yield Curve Steepens

Money markets across the eurozone, US, and UK are experiencing significant shifts. The UK's 10-year linker yield rose to 1.728%, while German 5-year Bobl yield increased to 2.32%. The European Investment Bank priced a $4bn bond, and TeraWulf offered $850M in convertible debt.

US Engages in Talks on Hamas-Accepted Gaza Ceasefire Proposal

The White House confirms ongoing discussions on a Gaza ceasefire proposal accepted by Hamas.

US Copper Firms Raise Prices Despite Trump's Tariff Exemption

Major US electrical wire producers are increasing prices despite President Trump's recent decision to exempt basic copper imports from tariffs.

China Reports Slight Fiscal Revenue Growth Amid Declining Tax and Land Sale Income

China's fiscal performance for January-July shows mixed results. Revenues increased marginally by 0.1% year-on-year, while expenditures rose by 3.4%.

Trump Targets Museums in Latest Anti-"Woke" Campaign

President Trump has announced a new initiative targeting museums, particularly the Smithsonian Institution. He has instructed his attorneys to review these institutions and apply the same process used on colleges and universities.

Trump Administration Explores 10% Stake in Intel, Sparking Controversy and Market Reactions

The Trump administration is reportedly considering taking a 10% stake in Intel through CHIPS Act grants, potentially making the government the top shareholder. This move has sparked controversy and debate.

EU's Costa Pushes for Ukraine's Membership and Security Guarantees

EU's Costa emphasizes the need to advance Ukraine's EU membership process, stating it must go forward. He stresses the EU's involvement in talks is crucial due to security concerns.

Leaders Gather for Ukraine Coalition Meeting as Putin-Zelenskiy Talks Loom

French President Macron and UK's Starmer are set to co-chair a meeting of Ukraine's Coalition of the Willing today. German Chancellor Merz will participate in two video conferences: one at 12:15 PM local time and another at 1:00 PM, hosted by EU Council President Costa.

Putin Seeks Chinese Backing in Potential Deal with Western Powers

Russian President Putin has reportedly asked China to serve as a guarantor for a potential agreement with the United States and European nations.

Trump Slams Delays on Arizona Copper Project, Promises Appeal

President Trump expresses frustration over delays to the Resolution Copper project in Arizona. He criticizes opponents and a "radical left court" for impeding progress.

Rubio Spearheads Ukraine Security Talks, Trump Backs with Air Support Pledge

Senator Marco Rubio is set to lead talks on security guarantees for Ukraine. President Trump has pledged air support as part of the negotiations.

Modi Touts Improving India-China Ties After Meeting Chinese Official

India's Prime Minister Modi declares steady progress in India-China relations.

White House Explores Budapest as Venue for Ukraine-Russia Peace Talks

The White House is considering Budapest as a potential location for peace talks between Ukrainian President Zelenskyy and Russian President Putin.

US Expands Deportation Agreements with Honduras and Uganda

The U.S. has expanded its deportation agreements, reaching new deals with Honduras and Uganda.

Trump Hints at Aerial Security Guarantees, Rules Out NATO Involvement

President Trump discusses potential U.S. security guarantees, suggesting they could be provided "by air." He emphasizes that while some form of security will be offered, it cannot be through NATO.

Ukraine-Trump Summit Ends, Security Guarantees Take Center Stage

Ukraine summit between Zelensky and Trump concludes without clear path to peace. Attention now shifts to security guarantees for Ukraine.

European Defense Stocks Tumble Amid Peace Efforts in Ukraine and Gaza

European defense stocks plummet as Trump pushes for peace in Ukraine and Gaza. The decline follows Ukraine's pledge to buy more U.S. weapons and Hamas agreeing to a truce deal.

Crypto Events

Crypto Market Faces Turbulence as Bitcoin and Ethereum Prices Dip, Long-term Outlook Remains Bullish

The cryptocurrency market is experiencing turbulence, with Bitcoin and Ethereum facing downward pressure. Bitcoin's price has dropped 7%, causing concern among investors and analysts. Some experts predict it might fall below $110,000, while others maintain it won't dip under $100,000 this cycle. Despite the current bearish sentiment, long-term projections remain optimistic, with targets as high as $145,000 and even $200,000 by 2025.

Ex-White House Crypto Chief Joins Tether as Strategic Advisor

Bo Hines, former director of the White House Crypto Council, has taken on a new role as strategic advisor at Tether.

Wyoming Pioneers State-Issued Stablecoin, Shaking Up Digital Currency Landscape

Wyoming has made history by becoming the first U.S. state to launch its own stablecoin. The "Frontier Stable Token" ($FRNT) is now live on multiple blockchains, including Ethereum, Solana, and Avalanche.

Fed Vice Chair Pushes for Staff Crypto Ownership to Boost Expertise

Federal Reserve Vice Chair Michelle Bowman advocates for allowing Fed staff to own small amounts of cryptocurrency. She argues this would enhance their understanding of crypto products and improve recruitment and retention.

SEC Chair to Unveil 'Project Crypto' at Wyoming Blockchain Symposium

SEC Chair Paul Atkins is set to speak at the Wyoming Blockchain Symposium today.

SoFi Teams Up with Lightspark for Blockchain-Powered Global Money Transfers

SoFi announces partnership with Lightspark to launch blockchain-enabled international money transfers through its app. The service will utilize Lightspark's Universal Money Address protocol and the Bitcoin Lightning Network, converting USD to Bitcoin.

Ethereum Exit Queue Surges Past $4B as XRP Consolidates; ETH Price Holds Steady

XRP and Ethereum are making waves in the crypto market. XRP faces consolidation around $3.00 and a delayed ETF, while Ethereum grapples with a massive exit queue of over 910,000 ETH worth $4B+.

KindlyMD Makes Massive Bitcoin Purchase for Treasury Expansion

KindlyMD, led by David Bailey, has made a significant move in the crypto world.

MetaMask Expands Crypto Wallet Capabilities with TRON Network Integration

MetaMask, the popular crypto wallet, is expanding its network support to include TRON. This integration will provide users with broader access to blockchain assets and DeFi possibilities beyond Ethereum.

Technology Events

Nvidia Develops New AI Chip for China as AI Investments and Concerns Grow

Nvidia is making waves in the AI chip market, developing a new AI chip called B30A specifically for China. This chip, based on Nvidia's latest Blackwell architecture, is expected to deliver about half the computing power of their flagship B300 model.

Meta Shakes Up AI Division, Downsizing and Restructuring in Pursuit of Superintelligence

Meta, the parent company of Facebook, is set to announce a major restructuring of its artificial intelligence division. According to reports from The New York Times, the company plans to split its AI group, known as Superintelligence Labs, into four distinct teams focusing on research, superintelligence, products, and infrastructure.

OpenAI Unveils Cheapest ChatGPT Plan in India, Eyeing Market Expansion

OpenAI launches ChatGPT Go, its most affordable subscription plan yet, exclusively for India. Priced at $4.57 per month, this strategic move aims to strengthen the company's presence in its second-largest market.

Databricks Nears $100 Billion Valuation in Latest Funding Round

Databricks, a data analytics software company, is finalizing a funding round that would value it at $100 billion. This represents a significant 61% increase from its last funding round in December.

Palo Alto Networks Surges on Strong Results; Nvidia Develops New AI Chip for China

In today's tech news, Palo Alto Networks takes center stage with impressive Q4 results and guidance, causing its stock to soar. Wall Street analysts praise CEO Nikesh Arora's platformization strategy, with Wedbush labeling it a key AI play.

AI Bubble Concerns Emerge Amid Tech Industry's Continued AI Push

AI dominates today's financial news. OpenAI's Sam Altman warns of an AI bubble, while investors seek antidotes and bottom-up approaches.

OpenAI in Talks for Massive $500 Billion Valuation Deal

OpenAI, the creator of ChatGPT, is reportedly in deal talks that would value the company at a staggering $500 billion.

Zuckerberg Plots Major Revamp of Meta's AI Strategy

Mark Zuckerberg is planning another overhaul of Meta's AI efforts, according to multiple reports.

Macro Events

Trump's Expanded Tariffs Shake Industries, Black Beauty Businesses Hit Hard

President Trump's expanded steel tariffs are causing widespread economic ripples. Swiss army knife maker Victorinox is contemplating production shifts to mitigate tariff impacts.

Canadian Inflation Eases in July, Core Measures Remain Elevated

Canada's July CPI report reveals a mixed inflation picture. The headline CPI rose 1.7% year-over-year, slightly below expectations of 1.8% and down from June's 1.9%. Month-over-month, CPI increased by 0.3%, meeting estimates.

US Housing Starts Surge Unexpectedly, Building Permits Decline

The US housing market showed unexpected strength in July, defying economists' predictions. Housing starts surged to 1.428 million units, a 5.2% increase from June and significantly higher than the estimated 1.290 million. This robust growth indicates strong construction activity, potentially boosting homebuilder stocks.

Fed Officials Push for Innovation in Banking Tech as Markets Eye Jackson Hole Conference

In a series of recent developments, the Federal Reserve and its officials have taken center stage in discussions about monetary policy, cryptocurrency, and banking technology.

Trump's Interest Rate Demands Stir Markets as Global Bond Yields Fluctuate

President Trump's demands for lower interest rates have brought the concept of 'fiscal dominance' into the market spotlight. This has led to a steepening of the US yield curve, with increased Treasury issuance pushing up long-term rates. Despite these pressures, Treasury yields fell after S&P maintained the U.S. credit rating.

U.S. Threatens Higher Tariffs on India Over Russian Oil Purchases

U.S. Treasury Secretary Bessent announces plans to increase tariffs on India due to their continued purchase of Russian oil. The move aims to address India's arbitrage of Russian oil, which Bessent deems unacceptable.

Fed Official Warns of Debanking Problem, Promises Action if Trend Continues

Federal Reserve's Bowman acknowledges debanking as a significant problem in the financial system.

US Expands Steel and Aluminum Tariffs, Adding Hundreds of New Categories

The US Department of Commerce has expanded steel and aluminum tariffs, adding 407 new product categories to the list.

S&P Affirms U.S. Credit Rating, but Market Concerns Linger Over Tariffs

S&P reaffirms America's AA+ credit rating, highlighting the administration's success in using tariffs to raise revenue. However, this positive news is overshadowed by market concerns.

Japan's Bond Yields Rise as 20-Year Auction Draws Weak Demand

Japan's bond market experienced significant movements today. The 20-year government bond yield rose 1.5 bps to 2.59% following an auction.

Treasury Secretary Outlines Economic Plans and Fed Chair Selection Process

Treasury Secretary Bessent announces plans to meet with 11 strong Federal Reserve chair candidates around Labor Day. He outlines strategies to use tariff revenue for debt reduction and deficit control.

Canada's Inflation Rate Drops to 1.7%, Gas Prices Fall While Food Costs Rise

Canada's annual inflation rate eases to 1.7% in July, lower than expected.

Japanese Lawmaker Calls for Rate Hikes and Fiscal Reform

Veteran Japanese lawmaker Kono urges the Bank of Japan to gradually increase interest rates, emphasizing the need to address negative real borrowing costs. He advocates for an early start to rate hikes and stresses the importance of reversing the weak yen.

Eurozone Current Account Surplus Surpasses Forecasts, Signals Economic Strength

Europe's current account surplus for June exceeded expectations, reaching €35.8 billion.

UK Statistics Office Delays July Retail Sales Report

The UK Office for National Statistics has postponed the release of July retail sales data.

Healthcare Events

Viking's Oral Obesity Drug Shows Promising Results in Phase 2 Trial

Viking Therapeutics has announced positive top-line results from its Phase 2 VENTURE-Oral trial of VK2735, an oral obesity drug. The study, involving 280 patients, demonstrated significant weight loss. However, stock plummets over 30% following disappointing drop rates.

Pharma Companies Advance Clinical Trials Amid Mixed Regulatory Decisions

Several pharmaceutical companies are making strides in clinical trials today. aTyr Pharma is estimating outcomes for their Phase 3 lung disease trial. Rein Therapeutics received UK approval for a Phase 2 trial in pulmonary fibrosis.

Canada Expands Ozempic Use for Diabetic Kidney Disease and Heart-Related Risks

Health Canada has approved Ozempic® for a new indication. The medication can now be used to reduce risks associated with kidney disease progression and cardiovascular death in adults with type 2 diabetes and chronic kidney disease.

Real Estate Events

US Housing Starts Surge Unexpectedly, Building Permits Decline

The US housing market showed unexpected strength in July, defying economists' predictions. Housing starts surged to 1.428 million units, a 5.2% increase from June and significantly higher than the estimated 1.290 million. This robust growth indicates strong construction activity, potentially boosting homebuilder stocks.

Earnings Events

Home Depot Shares Tumble on Earnings Miss, Despite Home Improvement Uptick

Home Depot's stock falls after missing Q2 profit and sales estimates. Despite increased home-improvement projects, the company's outlook disappoints investors.

La-Z-Boy Shares Nosedive as Q1 Results Fall Short of Expectations

La-Z-Boy's stock plummets 17% following disappointing Q1 earnings and revenue results. The company cites 'uneven' consumer demand as a factor.

Currencies Events

Wyoming Pioneers State-Issued Stablecoin, Shaking Up Digital Currency Landscape

Wyoming has made history by becoming the first U.S. state to launch its own stablecoin. The "Frontier Stable Token" ($FRNT) is now live on multiple blockchains, including Ethereum, Solana, and Avalanche.

Corporate Actions Events

Nexstar Media Acquires TEGNA in $6.2 Billion Broadcasting Merger

Nexstar Media announces acquisition of TEGNA for $6.2 billion, or $22 per share in cash.

Black Hills Corp. Acquires NorthWestern Energy in $15.4 Billion All-Stock Deal

Black Hills Corp. has agreed to acquire NorthWestern Energy Group in an all-stock merger valued at $15.4 billion.

Oil and Gas Industry Reshapes Amid Consolidation and Surging M&A Activity

The U.S. oil and gas industry is undergoing significant changes. An EY study reveals consolidation, with the sector shrinking from 50 to 40 top players. Utility stocks are outperforming oil and gas stocks this year.

Fixed Income And Interest Rates Events

Trump's Interest Rate Demands Stir Markets as Global Bond Yields Fluctuate

President Trump's demands for lower interest rates have brought the concept of 'fiscal dominance' into the market spotlight. This has led to a steepening of the US yield curve, with increased Treasury issuance pushing up long-term rates. Despite these pressures, Treasury yields fell after S&P maintained the U.S. credit rating.

Bolivia's Dollar Bonds Surge as Corporate Bond Spreads Tighten to 25-Year Low

Bolivia's international dollar bonds are rallying for the second consecutive day following the defeat of the leftist party in recent elections. The 2030 bonds hit a record high, up 1.4 cents to 81.09 cents on the dollar, while the 2028 bonds jumped 4.5 cents to 81.27 cents.

Japan's Bond Yields Rise as 20-Year Auction Draws Weak Demand

Japan's bond market experienced significant movements today. The 20-year government bond yield rose 1.5 bps to 2.59% following an auction.

Treasury Secretary Outlines Economic Plans and Fed Chair Selection Process

Treasury Secretary Bessent announces plans to meet with 11 strong Federal Reserve chair candidates around Labor Day. He outlines strategies to use tariff revenue for debt reduction and deficit control.

Japanese Lawmaker Calls for Rate Hikes and Fiscal Reform

Veteran Japanese lawmaker Kono urges the Bank of Japan to gradually increase interest rates, emphasizing the need to address negative real borrowing costs. He advocates for an early start to rate hikes and stresses the importance of reversing the weak yen.

KindlyMD Makes Massive Bitcoin Purchase for Treasury Expansion

KindlyMD, led by David Bailey, has made a significant move in the crypto world.

Legal Events

SEC Chair to Unveil 'Project Crypto' at Wyoming Blockchain Symposium

SEC Chair Paul Atkins is set to speak at the Wyoming Blockchain Symposium today.

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Daily Update: Post Close 🇺🇸 US Stock Market Update for Tuesday, August 19, 2025

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The 1985 Hypothetical - Do you accept it?

Welcome to The 1985 Hypothetical, where you are teleported back to this day 40 years ago in 1985. You are instantly awarded $10,000,000 in 1985 money ($30,000,000 today and a whole lot more purchasing power), but you are teleported back at your current age with all of your current memories.

If you ever speak of anything you know about that has not happened yet to anyone, including out loud to yourself, you will die instantly. This means music, shows, events, anything.

Here’s some of the things to remember:

• Time will continue to move as normal. Things that you remember happened that eventually pass will be allowed to be talked about again, as they no longer are from the future. You will be 40 years older than you are currently once 2025 comes back around.

• Likely, your current family and friends will not be in your life again when you get back to present day, as if you’re 25 years old right now, I doubt they’re gonna want to be friends with a 65 year old.

• You can use your knowledge to your advantage. For example, if you happened to remember the day that Bitcoin blew up, you can invest beforehand. But you can’t recommend anyone else to, as you’re telling others something that they shouldn’t know. You’d die. As long as you keep it yourself, take advantage of what you know.

Would you take this? Why or why not?

Mega Backdoor Roth IRA Conversion in a 401(k) or 403(b)

The Mega Backdoor Roth IRA has nothing to do with an IRA, much less the Backdoor Roth IRA process, but it's still a great way to invest in your Roth 401(k) instead of a taxable account.

What a Mega Roth Conversion Is

The Mega Roth conversion, aka a Mega Backdoor Roth IRA, is a two-step process allowed in some 401(k)s and 403(b)s. The first step is to make an after-tax contribution to your 401(k). Note that your 401(k) may not allow this. Also note that this is different from a Roth contribution, and some HR personnel may not understand that. There are three kinds of contributions that the IRS allows to be made to a 401(k) or 403(b):

1. Pre-tax (tax-deferred or traditional) contributions
2. Roth (tax-free) contributions
3. After-tax contributions

Despite the IRS allowing all three, many plans only allow the first or just the first and second types.

When you make pre-tax contributions, you get an immediate tax deduction equal to the contribution. It grows in a tax-protected manner, and then when you withdraw the money from the account, you pay taxes at ordinary income tax rates on both the contribution and any earnings. When you make Roth contributions, you do not get an immediate tax deduction, but it grows in a tax-protected manner. Then, when you withdraw the money from the account, there are no taxes paid on the contribution or its earnings. When you make after-tax contributions, you do not get an upfront tax deduction. The money grows in a tax-protected way, but when you withdraw the money, only the original contribution (basis) comes out tax-free. The earnings are fully taxable at your marginal ordinary income tax rate. This is obviously less than ideal and dramatically inferior to Roth contributions. In fact, it is so inferior that it often doesn't make sense to do this instead of investing in a taxable account if this is the only step of the process that you are allowed to do.

The second step of a Mega Roth conversion is to move that after-tax contribution into a Roth account (i.e., a Roth conversion)—either the Roth subaccount of the 401(k) or 403(b) or withdrawing the money from the 401(k)/403(b) altogether and moving it into a Roth IRA. Note that some 401(k)/403(b)s do not allow this step either. It's possible that your plan may only allow one of the two steps or even neither of them. Once that money is moved into a Roth account, it acts just as if it was a Roth contribution in the first place. It will grow in a tax-protected way and neither the contribution nor the earnings will be taxable at withdrawal. These contributions can be as high as $70,000 [2025]. That's a lot more than the $7,000 [2025] that can be contributed to a Roth IRA for those under 50—thus the reason it is called a “Mega” Backdoor Roth IRA or “Mega” conversion. The conversion itself is tax-free because the money being converted was already taxed; remember, it was an after-tax contribution. Unlike the Backdoor Roth IRA process, there is no pro-rata rule involved in these conversions, and Form 8606 is not used to report it.

Who Should Consider a Mega Roth Conversion

If you are currently investing in a taxable account, but . . .

1. Would prefer the tax advantages and asset protection advantages of investing in a tax-protected account, and
2. Are not currently putting $70,000 [2025] into your 401(k)/403(b) via employee and employer (matching or profit-sharing) contributions because the employer does not put enough in or you've already used your employee contribution in another 401(k) or 403(b), and
3. Have a 401(k) or 403(b) that allows after-tax contributions, and
4. Have a 401(k) that allows in-plan conversions or non-hardship in-service withdrawals,

. . . you should do a Mega Roth conversion.

 

Who Should Not Do a Mega Roth Conversion

There are a number of reasons why you might not bother with a Mega Roth conversion. If any of the following is true, don't bother.

1. You wish to invest in something that your 401(k)/403(b) will not allow you to invest in (gold, Bitcoin, private investments, investment property, and individual stocks are often not allowed in many employer-provided retirement accounts).
2. Your 401(k)/403(b) does not allow after-tax contributions.
3. Your 401(k)/403(b) does not allow in-plan conversions or non-hardship in-service withdrawals.
4. You already can max out your 401(k)/403(b) with employee/employer pre-tax contributions, and you would prefer pre-tax contributions to Roth contributions (most people in their peak earnings years).
5. You are not able to save enough money for retirement to invest beyond your Roth IRA, 401(k)/403(b) employee contribution, and any 401(k)/403(b) employer matching dollars.

 

How to Do a Mega Roth Conversion

First, consider your current retirement savings amount and available options. If you are already doing or cannot do a Backdoor Roth IRA for yourself and your spouse, you are already maxing out your employee contribution to your 401(k)/403(b), and are now investing money in a taxable account, you can continue to the next step.

Next, read your 401(k)/403(b) plan document or talk to your HR specialist. Ask them if the plan allows after-tax contributions. If the answer is yes, ask them if they allow in-plan conversions. If the answer is yes, wonderful, you're done asking questions. If the answer is no, ask if they allow in-service withdrawals without any sort of hardship. If the answer to this is yes, you can still do a Mega Roth conversion.

Next, calculate the maximum amount of an after-tax contribution. First, take the 415(c) limit for the year. In 2025, that's $70,000. Next, subtract the employee contribution you have made for the year. Perhaps it's $23,500. That leaves you with $46,500. Now, subtract out any employer matching or profit-sharing contributions made on your behalf. Perhaps that is another $10,000. That leaves you with $36,500 you can contribute to the 401(k)/403(b) as an after-tax contribution. This all assumes, of course, that you made more than $70,000 from this employer. You cannot contribute more than you earned.

Now, contribute $36,500 to your 401(k). You'll likely need to talk to HR to do this. The easiest way is to just write a check. It may also be possible to have the money pulled directly from your paycheck(s). It is definitely easier to do this all at once, a single time in a given year, so push to just write them a check whenever possible. This should go into an “after-tax” subaccount of your 401(k). Note that this is NOT the Roth subaccount.

Finally, move the money from the after-tax subaccount to the Roth subaccount. If you cannot do this online (and you shouldn't expect to), you will need to either talk to HR or, more likely, the 401(k)/403(b) custodian (such as Fidelity or Schwab) to get it done. It is a simple account transfer, but is a “taxable event.” It just so happens that the tax bill from the “taxable event” is zero, at least if you do it right away after the contribution. If you let the money go into an investment or leave it sitting in the after-tax account for a long time between the contribution and the conversion, you may have a gain or even a loss. You really don't want either. So, do the conversion step right away after the contribution step.

If your plan does not allow in-plan conversions (by far the more common option) but does allow in-service withdrawals, then withdraw the money directly into a Roth IRA. Once the money is in the Roth account, you may invest it according to your written investing plan. 

Why You Should Do a Mega Roth Conversion

When investing for retirement, it is almost always better to invest in a retirement account instead of a taxable investing account, even if you are planning to retire early. Estate planning is easier and asset protection is dramatically better, and your money will grow in a tax-protected way, i.e. faster without the tax drag of a taxable account.

For example, let's consider someone who invested $30,000 for 30 years via a Mega Roth conversion rather than in a taxable account. If this person was in the 23.8% qualified dividend/long-term capital gains bracket and invested in the same tax-efficient total stock market fund earning 8% per year and yielding 2% per year in both accounts, it would grow to perhaps $215,000 after-tax in the taxable account. But in the Roth account, it would grow to $302,000, 41% more! That's the value of that tax-free growth.

What If You're the Boss?

If you are the practice owner or if you can influence the selection of retirement plans, then get a great 401(k) that allows for the Mega Backdoor Roth IRA conversion process. Our recommended retirement account providers can be found here. If you are an independent contractor or otherwise have no non-spousal employees, you can use a customized/self-directed individual 401(k) (available at the same link). While these customized individual 401(k)s are not free like the “cookie-cutter” ones from Fidelity or Schwab, they will allow for after-tax contributions and in-plan conversions. They will also allow for investments only available in self-directed accounts—like private real estate funds, precious metals, or cryptoassets if you're interested in those sorts of things.

 

As you can see, a Mega Roth conversion has nothing to do with an IRA or even the Backdoor Roth IRA process (although both involve a non-deductible contribution and a tax-free Roth conversion). It is also different from just a Roth conversion (which usually comes with a tax bill). It is instead an excellent way to invest in a Roth 401(k)/403(b) instead of a taxable account.

Do you use a Mega Backdoor Roth IRA?  Would it be useful to you? 

Is Bitcoin running out of sellers? BITX bounces after sluggish start

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