Closing Bell Overtime: Stocks Bounce Back But Still End Week Lower as Markets Weigh Rising Risks 8/21/26

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**Michael Santoli** (0:42)
The bell's bringing an end to the trading day. At the NYSE Manchester United marking the start of the Premier League season. And at the Nasdaq, Stablecoin X ringing the bell to close out the week. Welcome to Closing Bell Overtime, live from Studio B at the Nasdaq Market site. I'm Mike Santoli, Melissa Lee is off today. Stocks higher across the board to finish out the week, rebounding from yesterday's losses. The Dow up about 500 points, the S&P 500 and Nasdaq both up around a half a percent, nearly a one percent gain for the Russell 2000 That was not quite enough to wipe out this week's losses though. The Dow down nearly one percent on the week, a bigger loss for the S&P 500 and the Nasdaq, which fell about two percent. Rising bond yields, putting pressure on stocks. Ten year up, about ten basis points this week, despite the announced treasury intervention. Uncertainty around treasuries and the dollar also contributing to a more than 20 percent jump in Bitcoin. That was its best week in more than two years. The reaction to the move in bonds echoed in the metals as well. Christina Partzanevelis joining me now with more on that and some of the other market moves.

**Christina Partzinaevlis** (1:46)
Yeah, so we had a broad-based rally, but materials really led as copper, gold and silver all climbed and the miners just amplified that move today. We saw that with Freeport, MacMoran, and one of the market's clearest liquid proxies for copper closed more than what? Seven percent higher today on reports of tighter supply. Newmont Steel Dynamics also climbed higher. For the week though, if we look at all the sectors, it's healthcare that topped powered by of course, Moderna and Merck with HCA Healthcare also helping lift the group specifically today. Energy finished near the flat line but higher on the week, the oil and gas ETF XOP notched its 10 straight positive session. It's best run since April 2020 and just shy of an 11-day streak that we had all the way back in 2010 Crypto, you mentioned, climbed which looks like risk appetite yet some of the high-flying momentum names or even the MTUM ETF really didn't catch a bit. Intel Micron, we often talk about, GE, Vernova all roughly lagged today with the, you can see Bitcoin only green on the screen there. And it's Friday, so maybe you're enjoying a cold one. I like to say Brewski, but Boston Beer shareholders may not be toasting necessarily. The stock fell after the company said its CFO is stepping down, naming an interim wallet searches for a permanent success or down 2.5%.
Summer may be winding down, you know, there's a theme here because it's Friday. But next week is a big one. The Fed Chair speaks to Jackson Hole what he says could bake or break the mood. The Fed's preferred inflation report out on Wednesday and then of course, NVIDIA earnings could reignite the AI trade, especially after shares fell this week, just a little bit less than 1%.

**Michael Santoli** (3:17)
For sure. You mentioned Bitcoin, sometimes it is a risk appetite. Today and yesterday, it acted more like a commodity. It acted more like the inverse of a falling dollar, obviously gold.

**Christina Partzinaevlis** (3:28)
So really a reflection of what's happening with the longer data yields.

**Michael Santoli** (3:30)
It would seem more of a macro, absolutely. And then, you know, you say the AI trade, it did have another little stumble. I think these semis were down like five and a half percent on the week. And it felt like, I'm not sure if that was reacting to specific new developments or just kind of this hangover and we had a big rally off the lows.

**Christina Partzinaevlis** (3:48)
And also just the concern about all of the data center build outs, if there's going to be a slowdown.
You know, the financing that's been coming through with Nvidia Broadcom announcing their deal. I know we'll be talking about it later on in the show. But I think with Nvidia specifically next week on Wednesday, gross margins will actually play a larger role. And I say that because so far in this earning season with a lot of these chip names, AMD, Cisco, we'll throw it in the chip bucket, but hardware, a lot of the, even though sales climbed, their guide go up a little bit more. It's the gross margins that just failed to impress. And that's where you start, you saw the stocks drop. The other thing too, specifically with Nvidia is China sales. It wasn't a part of their guidance. Maybe this time around it will be because they were able to ship certain hopper chips to China reportedly just over the last two weeks or so. So it could be a positive.