US PREMARKET ACTIONS: August 28, 2025
Futures Indices
- Dow Futures: +0.15%
- S&P 500 Futures: +0.1%
- Nasdaq 100 Futures: +0.0%
- US 10-year Yield: 4.22%
Market Environment
US markets continue to rise this Thursday morning, with futures showing slight gains despite Nvidia's decline. Wednesday’s session ended with new records, as the S&P 500 hit a historic peak of 6,481.38 points.
Nvidia posted better-than-expected results alongside a massive share buyback program. However, the stock is down 3% in pre-market trading, showing that expectations were extremely high and some signals (such as slightly lower datacenter revenues compared to consensus) are raising concerns.
“Even though US stocks reached new highs, many doubts persist in the background,” highlights Henry Allen from Deutsche Bank. Uncertainty about the Fed’s independence is fueling speculation about faster rate cuts and higher inflation, according to him.
Several key economic releases are expected today:
Q2 GDP revised up to +3.1% (from +3.0% initially)
Weekly Unemployment Claims expected at 230K
Pending Home Sales Index (July) expected at +0.2%
Fed Balance Sheet released late in the day
Stocks to Watch
SNOW +13.00%
Snowflake soars after strong results and reassuring guidance. Q3 product revenue is expected at $1.13B (vs $1.12B consensus), and the full-year target is raised to $4.4B. The CEO praised the massive adoption of AI on its platform.
GRYP +9.92%
American Bitcoin jumps following its share merger announcement to join the Nasdaq, with support from Donald Trump's sons.
VSCO +7.55%
Victoria’s Secret beats expectations with adjusted EPS of $0.33 (cons. $0.13) and revenue at $1.46B.
DG +6.46%
Dollar General rises after raising its annual forecasts. Dollar Tree and Five Below are also in the green.
BURL +5.78%
Burlington tops expectations with adjusted EPS of $1.72 versus $1.29 expected, supported by strong sales growth.
BBY -0.60%
Best Buy beats with EPS of $1.28 and revenue of $9.44B, but the stock falls, hampered by cautious outlook.
CRWD -4.00%
CrowdStrike drops despite beating expectations. Q3 revenue guidance ($1.21–1.22B) is slightly below consensus, even after an upward revision of full-year forecasts.
LI -4.51%
Li Auto tumbles after disappointing Q2 results and below-expectations Q3 guidance.
NTAP -7.00%
NetApp declines following mixed FQ1 results and conservative guidance for the rest of the year, despite beating EPS consensus.
NVDA -3.00%
Nvidia slips despite strong results and a massive buyback. Datacenter revenues ($41.1B) slightly disappoint, and the lack of forecasts for H20 chip sales in China raises doubts.
Recommendation Changes
Upgrades
Nvidia Corp ($NVDA) → Punto Research upgrades to buy from hold, target raised from $138 to $205.67
Rambus Inc. ($RMBS) → Arete Research upgrades to buy, target lifted from $77 to $91
Venture Global ($VG) → Deutsche Bank upgrades to buy, target: $17
Bank of America ($BAC) → Freedom Broker maintains buy and raises the target from $47 to $56.50
Five Below ($FIVE) → Wells Fargo remains overweight, target raised from $140 to $170
PVH Corp. ($PVH) → Barclays maintains overweight, target set at $101 (vs $83)
Reddit ($RDDT) → President Capital Management maintains buy, target raised to $243 (vs $130)
Snowflake ($SNOW) → Baird maintains outperform, target adjusted from $215 to $260
Neutral
Estee Lauder ($EL) → Rothschild & Co Redburn remains neutral, target raised from $66 to $83
Downgrades
Bill Holdings ($BILL) → Piper Sandler downgrades to neutral from overweight, target cut from $70 to $50
Dexcom ($DXCM) → Zacks moves to neutral from outperform, target lowered to $80 (vs $98)
Cooper Companies ($COO) → Citi downgrades to neutral from buy, target lowered to $72 (vs $97)
Have a great session everyone
Sylvain Mouilhaud: Stocks Coach