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Novo Nordisk (NVO) jumped higher after the FDA approved the company's Wegovy drug as a liver disease treatment. Dayforce (DAY) rallied more than 25% off reports that Thoma Bravo is looking to acquire the company. Nvidia (NVDA) has more bullish momentum heading into next week's earnings thanks to price target hikes from Morgan Stanley and Cantor Fitzgerald. Sam Vadas explains the biggest market movers starting the trading week.

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Alec Young says what the market needs this week is for Fed Chair Jerome Powell to signal a rate cut at Jackson Hole. “There’s definitely room for some profit taking” right now, he adds, but is bullish into 2026. However, he says Powell is right to have concerns about cutting based on the economic data. If the market did sell off this week, he considers it a buying opportunity. He likes the Mag 7 – with the exception of Tesla (TSLA) – as well as the financial sector with names like JPMorgan Chase (JPM).

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6,500 is the SPX level bulls want to hit heading into the Jackson Hole Symposium, according the Kevin Green. He highlights technicals investors should watch on Monday's session and for the week ahead. In explaining the equity rally, Kevin points to a crush in treasury volatility as a correlation to the push higher. He adds that general volatility in the VIX also continues to hover near historical lows.

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Evercore ISI added Target (TGT) to its "tactical outperform" list after the retail giant's stock has been beaten down over the last year. As Jenny Horne notes, the firm also moved Lowe's (LOW) to its "tactical underperform" list. She explains why Evercore made the adjustments ahead of both companies' earnings. On the A.I. front, Jenny weighs in on reports of Meta Platforms' (META) fourth A.I. division restructure in the last six months. It comes as the social media conglomerate closes in on a $2 trillion market cap.

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President Trump will meet with Ukrainian president Volodymyr Zelenskyy and other European leaders to discuss the war in Ukraine, something Kevin Hincks expects to moves markets to start the trading week. Also on the docket: Jackson Hole and what will likely be Fed chair Jerome Powell's final speech at the summit. On the earnings front, retail companies will dominate investor interest during a week that also has a new retail sales report. Kevin sees Walmart's (WMT) earnings as an economic barometer.

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Ahead of earnings later this week, Rick Ducat looks at how Home Depot (HD) shares are performing against Lowe's (LOW). Rick points to several areas of past resistance and support near the $396 and $400 levels to watch out for following their quarterly release. Tom White demonstrates an example put vertical trade for HD. He walks through the short-term position and why it is a more neutral to bullish stance on the post-earnings move.

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Garrett Melson says downside risks for the U.S. economy reside within the labor market. He points to recent data trends chipping away at the resilient labor market. Garrett believes that markets are already pricing in a 25bps cut and will closely monitor the Federal Reserve interest rate policy. He discusses the bifurcation between Fed governors and their concerns from potential tariff-induced price shifts. Garrett later points to the AI boom impacting equities, but wonders how long the rally can persist and how impacts the broader labor market.

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In the face of growing cybersecurity threats, Alex Hamerstone says companies are looking for places with a "solid" reputation. He previews Palo Alto Networks (PANW) earnings. Alex adds that it's tougher to bring in cybersecurity solutions in-house, which could benefit companies like PANW.

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Kevin Green kicks off the trading week with eyes on geopolitical headlines weighing on minds of investors and traders. He recaps Friday's Alaska talks between U.S. President Trump and Russian President Putin before preparing for this week's meeting with Ukrainian President Zelenskyy as well as European leaders. KG is watching the energy space as both the crude oil market and rare minerals trade could be impacted. Domestically, he also discusses Palo Alto Networks (PANW) ahead of earnings.

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Ahead of Monday's open, Ben Watson examines recent price activity in Nvidia (NVDA). On a 5-day 5-minute chart, Ben uses an ADX study to show one way of analyzing the chipmaker's recent moves ahead of earnings on August 27. On the longer term chart, Ben points to Nvidia's "chip and rip" upside momentum. He highlights previous areas of resistance at $153, $173 and $184 as the AI semiconductor demonstrates continued technical strength.

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