Opening Comment — Tuesday, August 25, 2026
DJIA: 53,417.16, up 140.15
S&P 500: 7,652.86, down 21.51
NASDAQ: 25,980.19, down 200.27
Stocks higher before consumer confidence data
Stock futures are higher Tuesday morning as investors are looking forward to economic measures from the Richmond and Philadelphia Federal Reserve (Fed) banks, along with housing and consumer confidence data. Investors are also awaiting Canada’s response to heightened U.S. tariffs. As of 7:23 AM ET, the Dow and the S&P 500 Index are both rising 0.4%. The Nasdaq 100 is increasing 0.8% relative to fair value on the GLOBEX.
U.S. equities were mixed on Monday as markets digested details on the U.S.’s economic measures against Iran. The Dow was up 0.3%, while the tech-heavy Nasdaq Composite fell 0.8%. The S&P 500 decreased 0.3% with three of 11 sectors finishing in negative territory. The Consumer Staples sector was the top performer, rising 1.8%, while the Information Technology sector was the bottom performer, falling 1.6%.
On the data front, the Philadelphia Fed will release their August Nonmanufacturing Business Outlook Survey, with the diffusion index of current general activity forecasted to decrease to 3.6 from the prior month’s 7.4. The Federal Housing Finance Agency’s House Price Index is expected to show an increase of 0.2% month-over-month (MOM) in June, compared to the prior month’s increase of 0.3%. The S&P Cotality Case-Shiller 20-City Home Price Index for June is expected to register increases of 0.10% MOM and 1.80% year-over-year (YOY), versus the prior month’s increases of 0.15% and 1.63%, respectively. The Richmond Fed’s August Fifth District Survey of Manufacturing Activity will be released today, with the headline composite manufacturing index expected to improve to 7 from the prior month’s 5. The Richmond Fed’s August Fifth District Survey of Service Sector Activity will also be released today, with the headline composite services index expected to improve to -3 from the prior month’s -5. Meanwhile, new home sales are projected to have been at an annualized 620,000 pace in July versus the prior month’s 628,000 pace. The Conference Board’s reading of August consumer confidence is projected to come in at 90.2 versus the prior month’s 90.8. The finalized reading of July building permits is projected to come in roughly unchanged from the preliminary reading of an annualized 1.443 million.
Across the pond, European stocks are higher in mid-day trading as Germany's finalized reading of second-quarter gross domestic product growth came in stronger than expected, with the economy expanding 0.3% quarter-over-quarter (QOQ) and 1.0% YOY. Meanwhile, the country’s Ifo Business Climate Index for August rose more than expected to 88.8. France’s August consumer confidence remained steady at 86, slightly below the forecast of 87.
Overnight in Asia, stocks were mostly higher as South Korea's consumer confidence declined to 104.5 in August from 106.8 in the prior month. Japan’s finalized reading of the Leading Index for June was revised slightly higher to 116.5. The country’s nationwide and Tokyo department store sales rose 5.1% and 9.0% YOY in July, respectively, accelerating from the prior month's gains.
In FOREX trading, the U.S. dollar is little changed ahead of today’s U.S. consumer confidence data.
Over in the commodity pits, West Texas Intermediate (WTI) crude oil is 2.9% lower at $82.57/barrel.
In the metals complex, gold is 0.3% lower at $4,639.26/ounce.