Dow Jones slips from record highs as investors await retail earnings and Fed signals
NEW YORK: U.S. stocks edged lower Monday as investors turned cautious ahead of key earnings reports from major retailers and the Federal Reserve’s annual symposium in Jackson Hole, Wyoming.
The Dow Jones Industrial Average fell 47.13 points, or 0.11%, to 44,898.43. The S&P 500 lost 6.42 points, or 0.10%, to 6,443.38, while the Nasdaq Composite dropped 30.45 points, or 0.14%, to 21,592.52.
Seven of the S&P 500’s 11 sectors declined, led by communication services, which fell 0.9% as Meta Platforms slid 2.45%.
Investors are awaiting quarterly results from Walmart, Home Depot and Target this week for clues on consumer resilience amid trade uncertainty and persistent inflation. “Today is a day more of listlessness in the markets,” said Brian Jacobsen, chief economist at Annex Wealth Management. “We’re just waiting to see what happens from the big retailers and then the main event on Friday with Powell.”
Federal Reserve Chair Jerome Powell is expected to speak at the Jackson Hole conference, which runs August 21–23. Markets are pricing in a 25-basis-point rate cut next month, though expectations for further easing have waned, according to LSEG data.
Recent economic indicators offered mixed signals. Friday’s retail sales data showed broad gains, but consumer sentiment weakened due to inflation concerns. On Monday, the NAHB/Wells Fargo Housing Market Index fell to its lowest level since December 2022.
Intel shares dropped 3.16% following reports that the Trump administration is considering a 10% stake in the chipmaker. Meanwhile, Dayforce surged 27% amid acquisition talks with private equity firm Thoma Bravo.
Solar stocks rallied after the U.S. Treasury Department announced new tax subsidy rules for renewable energy projects. SunRun rose 9%, and First Solar gained 9.54%.
On the geopolitical front, President Donald Trump met with Ukrainian President Volodymyr Zelenskiy to discuss the war in Ukraine, days after a summit with Russian President Vladimir Putin. Trump said he may call Putin and suggested a potential trilateral meeting.
Advancing issues outnumbered decliners by a 1.09-to-1 ratio on the NYSE. The S&P 500 recorded nine new 52-week highs and two new lows, while the Nasdaq posted 73 new highs and 62 new lows.
Market Snapshot – August 18, 2025 (1:56 p.m. EDT)
| Index | Value | Change | % Change |
|---|---|---|---|
| Dow Jones Industrial | 44,898.43 | −47.13 | −0.11% |
| S&P 500 | 6,443.38 | −6.42 | −0.10% |
| Nasdaq Composite | 21,592.52 | −30.45 | −0.14% |
| Sector Performance | Top Movers | Notes |
|---|---|---|
| Communication Services ↓ 0.9% | Meta Platforms ↓ 2.45% | Sector led declines |
| Solar Stocks ↑ | SunRun ↑ 9%, First Solar ↑ 9.54% | Boosted by new federal tax subsidy rules |
| Semiconductors ↓ | Intel ↓ 3.16% | Trump admin reportedly considering 10% stake |
| HR Tech ↑ | Dayforce ↑ 27% | Acquisition talks with Thoma Bravo |