US OPEN: Macro data fuels optimism; Nvidia erases pre-market dip (28.08.2025)

Wall Street opened upbeat, with major indices advancing on higher-than-expected GDP, weaker quarterly inflation data and the aftermath of Nvidia’s earnings. Tech-heavy Nasdaq (US100) is up 0.3%, followed by S&P 500 (US500: +0.2%), while DJIA (US30) is currently down 0.1%.

Nvidia left investors mixed with Q2 data center revenue hitting $41.1B, up 56% YoY, though falling $200M short of expectations. Blackwell chips grew 17% QoQ, while gaming, visualization, and automotive segments also performed strongly. Guidance for Q3 sits around $54B (with 2% deviation).

H20 China sales remain suspended amid regulatory uncertainty, although latest reports say that the company's CEO is now in talks with the US to sell Blackwell AI chips to China. The talks are likely encouraged by slightly lower-than-expected data centers sales last quarter. The news helped the stock erase its pre-market drop (-1% currently, -4% in premarket).

Among S&P 500 sectors, Communication Services and Financial stocks are driving gains on Wall Street. On the flip side, Health, Energy and Consumer Staples are lagging. Source: Bloomberg Finance LP

Macro News

The U.S. economy rebounded in Q2 2025, with GDP up 3.3% annualized, driven primarily by lower imports and stronger consumer spending. Investment and exports lagged. Real final sales rose 1.9%, GDI surged 4.8%, inflation eased modestly, and corporate profits jumped $65.5B, reversing Q1’s $90.6B decline.

Source: XTB Research

US100 (D1)

The Nasdaq contract successfully held support at the lower boundary of its medium-term uptrend channel (red line) and is now heading toward resistance near its all-time high. Key upside levels include 23,848, marking local peaks from July–August, and the recent ATH. On the downside, initial support is the trendline (red) reinforced by the EMA25 (gray), with further support between 23,000–22,000, strengthened by the EMA50 (blue).

Source: xStation5

Company news:

• Burlington Stores beat Q2 expectations with $2.71B in sales, up nearly 10% YoY, and EPS of $1.59, exceeding estimates. Comparable sales rose 5%, while gross margin expanded 90bps. The company raised FY25 guidance, projecting $9.19–$9.41 EPS and 7–8% sales growth, though Q3 forecasts fall slightly below consensus. The stock surged 10%.

• Celcuity gained momentum as the FDA accepted its gedatolisib NDA under the RTOR program, enabling an expedited review. Phase 3 VIKTORIA-1 trial results showed the drug, combined with fulvestrant and palbociclib, significantly improved median progression-free survival in advanced ER+ breast cancer. Analysts maintain Buy ratings, highlighting potential market impact. The stock is up 8%.

• CrowdStrike delivered a record Q2, with net new ARR of $221M and total ARR up 20% to $4.66B, alongside $1.17B revenue and $284M free cash flow. CEO George Kurtz highlighted AI-driven demand, Falcon Flex adoption, and a strong cloud and identity pipeline. Management guided for FY26 revenue up to $4.8B, with accelerating ARR growth of at least 40% in the back half. The stock is up 2%.

• NetApp shares slid 7% in pre-market after fiscal Q1 results and guidance met expectations but highlighted weakness in its federal business and EMEA. Analysts noted ongoing pressure on product gross margins from mix, federal softness, and component costs, partly offset by cloud strength. While AI projects were defined as "continued wins”, revenue impact remains limited. Sentiment was cautious, with mixed ratings across Wall Street. The stock is currently up 2.6%.

• Snowflake shares rallied 19% as soaring demand for AI-driven data platforms boosted investor optimism, adding over $11 billion to its market value. The company raised annual product revenue guidance to $4.4 billion, above estimates, as businesses modernize data infrastructure for AI adoption. Analysts widely upgraded the stock, underscoring Snowflake’s strong position amid the AI and cloud migration boom.