Schwab Network

The S&P 500 Index continues to show resiliency, shrugging off bad news and buying every dip. Kevin Horner highlights the 50-day moving average as a key support level. Horner also discusses Kroger (KR), which is in the consumer staples space and could potentially benefit from a tech sector pullback, and notes that a close below $66 would be significant. Additionally, Horner examines Salesforce (CRM), which has seen a favorable reaction since earnings but faces significant overhead resistance around $258.

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George Schultze shares his market outlook, suggesting the current bull run could have legs beyond its 3-year anniversary. Schultze expects the Fed to cut rates again, potentially 25 basis points, and sees more cuts on the horizon for 2026. Despite concerns about stagflation, he's focusing on post-distress equities like Shell (SHEL), MBIA Inc. (MBI), and Flagstar (FLG), which he believes are undervalued and have catalysts driving them towards fair value. Schultze also likes gold as a hedge against inflation and market uncertainty, even at current record highs.

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Charles Schwab's Joe Mazzola says the August 2025 STAX saw a 4.5% uptick even though the SPX only moved 1.1% higher. He notes the divergence as a sign Charles Schwab clients remain bullish on high beta stocks. Joe notes Nvidia (NVDA), Palantir (PLTR) and UnitedHealth (UNH) as the biggest buys for August. Apple (AAPL), Meta Platforms (META) and Tesla (TSLA) were the biggest laggards. Joe explains what all of this insight signals for markets ahead.

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UnitedHealth (UNH) remains more than 40% off all-time highs but is also about 50% off 52-week lows. George Tsilis says the company reaffirming EPS guidance gave investors a strong signal to take on shares. He talks about the company's "remarkable" recovery off 2025 lows even as it continues to face regulatory scrutiny.

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Nebius (NBIS) rallied upwards of 50% after Microsoft (MSFT) offered up to $19.4 billion for its A.I. infrastructure. Marley Kayden says it's the latest development signaling a "global rush" for A.I. buildout and talks about how it "takes risk off the table" for the A.I. trade. She and the panel also talk about how Mag 7 companies like Microsoft and Nvidia (NVDA) are becoming "kingmakers" through acquisitions and partnerships.

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Likefolio's Andy Swan shares his take on Chewy's (CHWY) recent resurgence. Swan cites strong auto-ship metrics as a tailwind, with 82% of revenue coming from this segment and low churn rates. However, he also notes a 12% YOY decline in August web traffic, which could lead to a disappointing Q4 earnings report. Swan believes Chewy needs to find another avenue of revenue growth, possibly through its veterinary clinics, to support its current valuation. He maintains a neutral but slightly bearish stance on the stock heading into earnings.

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Austin Lyons understands the bullish optimism behind Tesla's (TSLA) A.I.-centric future. However, he argues it needs a "win today" in the EV space to fund that future. Austin sees Tesla's EV business facing challenges as Chinese automakers release cheaper options. Ben Rose makes the case that Tesla is "well positioned" for the challenge. He says the EV tax credit removal will actually help Tesla, adding that the board's proposed pay package for Elon Musk will motivate him to push the Mag 7 company forward.

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Oracle (ORCL) is set to report earnings after the bell. Dan Morgan breaks down the key metrics to watch, including cloud growth, which is expected to drive long-term growth for the company. Morgan believes Oracle's cloud business is finally gaining traction, with 23 new data centers in the pipeline, and its second-generation cloud is competitive with Amazon Web Services (AWS) and Microsoft (MSFT) Azure, thanks to its 30% lower costs. Guidance will be crucial in justifying further share price appreciation, which has already surged over 40% YTD.

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Ann Miletti sees opportunity in a market where valuations may seem stretched. She's particularly bullish on midcap technology stocks, which are often overlooked in favor of their larger peers, but offer strong innovation and growth potential. She also likes healthcare, particularly in the diagnostic space, where she sees AI-driven innovation changing the way consumers approach healthcare.

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Nasdaq (NDAQ) is seeking SEC approval to use tokenized securities, something Jessica Inskip sees serving as a next leg up for the stock. She sees a similar theme forming in Blackrock (BLK) as it reinforces a focus on crypto. Jessica turns to the A.I. front though Broadcom (AVGO) and what she considers an interesting shift in investor perspective. Rick Ducat offers a deep dive into each of the charts for investors.

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Options involve risks and are not suitable for all investors. Before trading, read the Options Disclosure Document. http://bit.ly/2v9tH6D

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