CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities. In addition, the company provides intermodal services through a network of approximately 30 terminals transporting manufactured consumer goods in containers; and drayage services, including the pickup and delivery of intermodal shipments. It serves the automotive industry with distribution centers and storage locations, as well as connects non-rail served customers through transferring products, such as plastics and ethanol from rail to trucks. The company operates approximately 20,000 route mile rail network, which serves various population centers in 26 states east of the Mississippi River, the District of Columbia, and the Canadian provinces of Ontario and Quebec, as well as owns and leases approximately 3,500 locomotives. It serves production and distribution facilities through track connections. CSX Corporation was incorporated in 1978 and is headquartered in Jacksonville, Florida.

CSX Corporation

The NASDAQ 100 After Hours Indicator is down -6.28 to 23,756.02. The total After hours volume is currently 105,301,929 shares traded.
The following are the most active stocks for the after hours session:
Mirion Technologies, Inc. (MIR) is unchanged at $22.60, with 8,922,602 shares traded. As reported by Zacks, the current mean recommendation for MIR is in the "buy range".
Snap Inc. (SNAP) is +0.0192 at $7.24, with 7,004,201 shares traded. SNAP's current last sale is 80.44% of the target price of $9.
Apple Inc. (AAPL) is +0.323 at $238.25, with 5,344,466 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
Neogen Corporation (NEOG) is unchanged at $5.66, with 5,123,260 shares traded. NEOG's current last sale is 87.08% of the target price of $6.5.
CSX Corporation (CSX) is unchanged at $32.43, with 5,019,079 shares traded. As reported by Zacks, the current mean recommendation for CSX is in the "buy range".
Kenvue Inc. (KVUE) is -0.0201 at $18.41, with 4,937,914 shares traded. KVUE's current last sale is 82.74% of the target price of $22.25.
Comcast Corporation (CMCSA) is unchanged at $34.00, with 4,444,093 shares traded. CMCSA's current last sale is 88.31% of the target price of $38.5.
Meta Platforms, Inc. (META) is +0.1043 at $752.40, with 3,658,499 shares traded. As reported by Zacks, the current mean recommendation for META is in the "buy range".
NVIDIA Corporation (NVDA) is -0.136 at $168.17, with 3,483,936 shares traded. Over the last four weeks they have had 9 up revisions for the earnings forecast, for the fiscal quarter ending Oct 2025. The consensus EPS forecast is $1.16. As reported by Zacks, the current mean recommendation for NVDA is in the "buy range".
Chevron Corporation (CVX) is unchanged at $154.00, with 2,499,503 shares traded. As reported by Zacks, the current mean recommendation for CVX is in the "buy range".
Corning Incorporated (GLW) is +0.1998 at $72.35, with 2,150,739 shares traded., following a 52-week high recorded in today's regular session.
Taiwan Semiconductor Manufacturing Company Ltd. (TSM) is -0.64 at $246.55, with 2,086,768 shares traded. As reported by Zacks, the current mean recommendation for TSM is in the "buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

After Hours Most Active for Sep 8, 2025 : MIR, SNAP, AAPL, NEOG, CSX, KVUE, CMCSA, META, NVDA, CVX, GLW, TSM

The Trillion-Dollar AI Question

The NASDAQ 100 After Hours Indicator is down -10.68 to 23,692.77. The total After hours volume is currently 157,814,410 shares traded.
The following are the most active stocks for the after hours session:
NVIDIA Corporation (NVDA) is -0.47 at $179.70, with 6,504,874 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Oct 2025. The consensus EPS forecast is $1.11. As reported by Zacks, the current mean recommendation for NVDA is in the "buy range".
Bank of America Corporation (BAC) is -0.02 at $50.47, with 5,840,463 shares traded. As reported by Zacks, the current mean recommendation for BAC is in the "buy range".
Infosys Limited (INFY) is unchanged at $17.00, with 5,541,944 shares traded. INFY's current last sale is 85% of the target price of $20.
Alphabet Inc. (GOOGL) is -0.19 at $211.45, with 5,080,732 shares traded., following a 52-week high recorded in today's regular session.
CSX Corporation (CSX) is unchanged at $32.66, with 4,543,316 shares traded. As reported by Zacks, the current mean recommendation for CSX is in the "buy range".
Marvell Technology, Inc. (MRVL) is -6.4869 at $70.74, with 4,381,606 shares traded. Smarter Analyst Reports: Marvell Posts Upbeat Q4 Results, Provides Impressive Projections
Walmart Inc. (WMT) is +0.03 at $96.14, with 4,357,313 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Oct 2025. The consensus EPS forecast is $0.6. As reported by Zacks, the current mean recommendation for WMT is in the "buy range".
Amazon.com, Inc. (AMZN) is -0.21 at $231.39, with 4,327,914 shares traded. Over the last four weeks they have had 11 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2025. The consensus EPS forecast is $1.57. As reported by Zacks, the current mean recommendation for AMZN is in the "buy range".
Opendoor Technologies Inc (OPEN) is +0.11 at $4.38, with 3,943,726 shares traded. OPEN's current last sale is 461.05% of the target price of $0.95.
Schlumberger N.V. (SLB) is unchanged at $36.48, with 3,747,915 shares traded. As reported by Zacks, the current mean recommendation for SLB is in the "buy range".
Offerpad Solutions Inc. (OPAD) is -1.44 at $4.79, with 3,716,302 shares traded., following a 52-week high recorded in today's regular session.
Coca-Cola Company (The) (KO) is +0.03 at $68.39, with 3,083,148 shares traded. As reported by Zacks, the current mean recommendation for KO is in the "buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

After Hours Most Active for Aug 28, 2025 : NVDA, BAC, INFY, GOOGL, CSX, MRVL, WMT, AMZN, OPEN, SLB, OPAD, KO

Looking at the universe of stocks we cover at Dividend Channel, on 8/29/25, eBay Inc. (Symbol: EBAY), Tennant Co. (Symbol: TNC), and CSX Corp (Symbol: CSX) will all trade ex-dividend for their respective upcoming dividends. eBay Inc. will pay its quarterly dividend of $0.29 on 9/12/25, Tennant Co. will pay its quarterly dividend of $0.295 on 9/15/25, and CSX Corp will pay its quarterly dividend of $0.13 on 9/15/25. As a percentage of EBAY's recent stock price of $94.64, this dividend works out to approximately 0.31%, so look for shares of eBay Inc. to trade 0.31% lower — all else being equal — when EBAY shares open for trading on 8/29/25. Similarly, investors should look for TNC to open 0.35% lower in price and for CSX to open 0.40% lower, all else being equal.
Below are dividend history charts for EBAY, TNC, and CSX, showing historical dividends prior to the most recent ones declared.
eBay Inc. (Symbol: EBAY):
Tennant Co. (Symbol: TNC):
CSX Corp (Symbol: CSX):
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 1.23% for eBay Inc., 1.42% for Tennant Co., and 1.60% for CSX Corp.
In Wednesday trading, eBay Inc. shares are currently down about 4%, Tennant Co. shares are up about 0.1%, and CSX Corp shares are down about 1.2% on the day.
Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Ex-Dividend Reminder: eBay, Tennant and CSX

The S&P 500 Index ($SPX) (SPY) on Monday closed down by -0.43%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down by -0.77%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down by -0.31%. September E-mini S&P futures (ESU25) fell -0.37%, and September E-mini Nasdaq futures (NQU25) fell -0.26%.
Stock indexes settled lower on Monday and gave back some of last Friday’s sharp rally. Concerns about tariffs and their impact on inflation and corporate profits weighed on stocks. Also, higher bond yields were negative for stocks, as the 10-year T-note yield rose +3 bp to 4.28%. Stock indexes recovered from their worst levels on strength in chip makers.
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The markets were optimistic about last Friday’s dovish comments from Fed Chair Powell, who said the downside risks to the labor market may “warrant adjusting our policy stance.” However, there are concerns about how much the Fed can lower interest rates, with fears that inflation will rise from still-elevated levels as President Trump’s tariffs move through the economy.
Monday’s US economic news was mixed for stocks. The July Chicago Fed national activity index fell -0.37 to -0.19, weaker than expectations of -0.11. However, July new home sales unexpectedly fell -0.6% m/m to 652,000 from an upwardly revised 656,000 in June (initially reported 627,000), still stronger than expectations of 630,000.
On the geopolitical front, diplomatic efforts to end the war in Ukraine remain elusive, as the US tries to broker a peace deal between the two countries. On Sunday, Russian Foreign Minister Lavrov said there was no meeting planned between the leaders of Russia and Ukraine and that there “needs to be an agenda first” for a meeting to take place. “This agenda is not ready at all.”
Regarding tariffs, President Trump last week widened steel and aluminum tariffs to include more than 400 consumer items that contain the metals, such as motorcycles, auto parts, furniture components, and tableware. The change went into effect last Monday and did not exclude goods already in transit.
In other recent tariff news, Mr. Trump on August 13 extended the tariff truce with China for another 90 days until November. On August 6, Mr. Trump announced that he will double tariffs on US imports from India to 50% from the current 25% tariff, due to India’s purchases of Russian oil. According to Bloomberg Economics, the average US tariff will rise to 15.2% if rates are implemented as announced, up from 13.3% earlier, and significantly higher than the 2.3% in 2024 before the tariffs were announced.
The markets this week will focus on any fresh tariff news or developments on ending the Ukraine-Russian war. On Tuesday, July capital new orders nondefense ex-aircraft and parts, a proxy for capital spending, are expected to climb +0.2% m/m. Also, the June S&P CoreLogic composite-20 home price index is expected to ease to +2.20% y/y from +2.79% y/y in May. Finally, on Tuesday, the Conference Board’s Aug consumer confidence index is expected to fall -0.8 to 96.4. After Wednesday’s close, Nvidia will release its quarterly earnings and guidance. On Thursday, Q2 GDP is expected to be revised upward by +0.1 to 3.1% (q/q annualized). Also, weekly initial unemployment claims are expected to fall by -5,000 to 230,000. On Friday, July personal spending is expected to climb +0.3% m/m, and July personal income is expected to rise +0.4% m/m. Also, the July core PCE price index, the Fed’s preferred inflation gauge, is expected to climb +0.2% m/m and +2.9% y/y. In addition, the Aug MNI Chicago PMI is expected to fall -0.6 to 46.5. Finally, the University of Michigan’s final-Aug US consumer sentiment index is expected to be unrevised at 58.6.
Federal funds futures prices are discounting the chances for a -25 bp rate cut at 83% at the next FOMC meeting on September 16-17. The markets are discounting the chances at 50% for a second -25 bp rate cut at the following meeting on October 28-29.
Earnings reports indicate that S&P 500 earnings for Q2 are on track to rise +9.1% y/y, much better than the pre-season expectations of +2.8% y/y and the most in four years, according to Bloomberg Intelligence. With Q2 earnings season winding down, over 94% of S&P 500 firms having reported Q2 earnings, about 82% of companies exceeded profit estimates.
Overseas stock markets on Monday settled mixed. The Euro Stoxx 50 closed down -0.81%. China’s Shanghai Composite rallied to a new 10-year high and closed up +1.51%. Japan’s Nikkei Stock 225 closed up +0.41%.
Interest Rates
September 10-year T-notes (ZNU5) on Monday closed down -5.5 ticks, and the 10-year T-note yield rose +2.5 bp to 4.279%. Sep T-notes were under pressure on Monday as they gave back some of last Friday’s rally. Concerns that President Trump’s tariffs will push inflation up from still elevated levels are limiting the upside in T-notes. Also, rising inflation expectations are undercutting T-note prices after the 10-year breakeven inflation expectations rate rose to a 3.5-week high on Monday of 2.435%. In addition, supply pressures are negative for T-notes as the Treasury will auction $211 billion of T-notes and floating-rate notes this week, beginning with Tuesday’s $69 billion auction of 2-year T-notes.
Losses in T-notes were limited due to weakness in stocks, which boosted safe-haven demand for T-notes. Also, T-notes had some positive carryover from last Friday, when Fed Chair Powell said downside risks to employment are rising and the shifting balance of risks may warrant adjusting monetary policy.
European government bond yields on Monday moved higher. The 10-year German bund yield rose +3.5 bp to 2.757%. 10-year UK gilts did not trade on Monday as markets were closed in the UK for the summer bank holiday.
The German Aug IFO business climate survey rose +0.4 to a 16-month high of 89.0, stronger than expectations of +0.2 to 88.8.
Swaps are discounting the chances at 1% for a -25 bp rate cut by the ECB at the September 11 policy meeting.
US Stock Movers
Furniture stocks fell Monday after President Trump said that furniture coming from other countries into the US will be tariffed at a rate yet to be determined. RH (RH) and Wayfair (W) closed down more than -5%. Also, Williams-Sonoma (WSM) closed down more than -2%.
Cryptocurrency-exposed stocks slid Monday after the price of Bitcoin (^BTCUSD) fell more than -4% to a 6-week low. Strategy (MSTR), Coinbase Global (COIN), MARA Holdings (MARA), and Galaxy Digital (GLXY) closed down more than -2%.
Makers of Covid-19 vaccines retreated Monday after the Daily Beast reported that the US government will move to pull MRNA vaccines from the market “within months.” Moderna (MRNA) closed down more than -6%, BioNTech SE (BNTX) closed down more than -5%, Novavax (NVAX) closed down more than -4%, and Pfizer (PFE) closed down more than -2%.
The strength in chip stocks on Monday limited losses in the broader market. Nvidia (NVDA) closed up more than +1% to lead gainers in the Dow Jones Industrials. Also, Lam Research (LRCX) and KLA Corp (KLAC) closed up more than +1%. In addition, Analog Devices (ADI) closed up +0.91%, and NXP Semiconductors NV (NXPI) closed up +0.78%.
Casino stocks with exposure to Macau moved higher on Monday after data showed gaming revenue in Macau in the first 17 days of August was up by +11% from the same period last year. Wynn Resorts Ltd (WYNN) closed up more than +3% and Las Vegas Sands (LVS) closed up more than +2%.
Keurig Dr Pepper (KDP) closed down more than -11% to lead losers in the S&P 500 and Nasdaq 100 after it agreed to buy JDE Peet NV for $18.4 billion.
CSX Corp (CSX) closed down more than -5% and Union Pacific (UNP) closed down more than -2% after Berkshire Hathaway said it is not looking to buy a rail company.
Eversource Energy (ES) closed down more than -4% after the Trump administration blocked construction of Orsted’s almost-finished Revolution offshore wind farm, of which Eversource has liabilities related to the sale to Global Infrastructure Partners.
Axogen (AXGN) closed down more than -9% after the FDA extended its review for the company’s Biologics License Application for Avance Nerve Graft by three months till December 5, 2025.
American Eagle Outfitters (AEO) closed down more than -2% after Bank of America Global Research downgraded the stock to underperform from neutral with a price target of $10.
Fabrinet (FN) closed up more than +6% after JPMorgan Chase upgraded the stock to overweight from neutral.
Dyne Therapeutics (DYN) closed up more than +3% after Raymond James upgraded the stock to strong buy from outperform with a price target of $35.
Venture Global (VG) closed up more than +3% after UBA upgraded the stock to buy from neutral with a price target of $18.
Earnings Reports(8/26/2025)
American Woodmark Corp (AMWD), Box Inc (BOX), Citi Trends Inc (CTRN), Electromed Inc (ELMD), Golden Matrix Group Inc (GMGI), MongoDB Inc (MDB), nCino Inc (NCNO), Okta Inc (OKTA), Ooma Inc (OOMA), PACS Group Inc (PACS), PVH Corp (PVH).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Settle Lower as Bond Yields Rise

The NASDAQ 100 After Hours Indicator is up 4.26 to 23,429.87. The total After hours volume is currently 103,788,805 shares traded.
The following are the most active stocks for the after hours session:
Opendoor Technologies Inc (OPEN) is +0.05 at $4.59, with 6,228,933 shares traded. OPEN's current last sale is 483.16% of the target price of $0.95.
NVIDIA Corporation (NVDA) is +0.08 at $179.89, with 5,352,199 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jul 2025. The consensus EPS forecast is $0.94. NVDA is scheduled to provide an earnings report on 8/27/2025, for the fiscal quarter ending Jul2025. The consensus earnings per share forecast is 0.94 per share, which represents a 65 percent increase over the EPS one Year Ago
Snap Inc. (SNAP) is +0.03 at $7.03, with 5,202,472 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2025. The consensus EPS forecast is $-0.1. SNAP's current last sale is 78.11% of the target price of $9.
Comcast Corporation (CMCSA) is unchanged at $34.01, with 2,447,424 shares traded. CMCSA's current last sale is 88.34% of the target price of $38.5.
CommScope Holding Company, Inc. (COMM) is +0.01 at $15.91, with 2,263,597 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2025. The consensus EPS forecast is $0.34. COMM's current last sale is 83.74% of the target price of $19.
PG&E Corp (PCG) is +0.0299 at $14.94, with 1,946,505 shares traded. As reported by Zacks, the current mean recommendation for PCG is in the "buy range".
CSX Corporation (CSX) is +0.12 at $32.93, with 1,779,074 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2025. The consensus EPS forecast is $0.44. As reported by Zacks, the current mean recommendation for CSX is in the "buy range".
Verizon Communications Inc. (VZ) is +0.0494 at $44.28, with 1,717,225 shares traded. VZ's current last sale is 92.25% of the target price of $48.
Offerpad Solutions Inc. (OPAD) is -0.23 at $3.41, with 1,669,651 shares traded. OPAD's current last sale is 296.52% of the target price of $1.15.
Newmont Corporation (NEM) is unchanged at $71.10, with 1,609,554 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2025. The consensus EPS forecast is $1.25. As reported by Zacks, the current mean recommendation for NEM is in the "buy range".
CRH PLC (CRH) is unchanged at $112.59, with 1,533,807 shares traded. As reported by Zacks, the current mean recommendation for CRH is in the "buy range".
Apple Inc. (AAPL) is +0.1111 at $227.27, with 1,501,685 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2025. The consensus EPS forecast is $1.73. AAPL's current last sale is 94.7% of the target price of $240.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

After Hours Most Active for Aug 25, 2025 : OPEN, NVDA, SNAP, CMCSA, COMM, PCG, CSX, VZ, OPAD, NEM, CRH, AAPL

Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the JPMorgan Nasdaq Equity Premium Income ETF (Symbol: JEPQ), we found that the implied analyst target price for the ETF based upon its underlying holdings is $61.02 per unit.
With JEPQ trading at a recent price near $55.67 per unit, that means that analysts see 9.61% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of JEPQ's underlying holdings with notable upside to their analyst target prices are Starbucks Corp. (Symbol: SBUX), NVIDIA Corp (Symbol: NVDA), and CSX Corp (Symbol: CSX). Although SBUX has traded at a recent price of $88.38/share, the average analyst target is 10.55% higher at $97.70/share. Similarly, NVDA has 10.47% upside from the recent share price of $177.99 if the average analyst target price of $196.63/share is reached, and analysts on average are expecting CSX to reach a target price of $38.08/share, which is 10.13% above the recent price of $34.58. Below is a twelve month price history chart comparing the stock performance of SBUX, NVDA, and CSX:
Combined, SBUX, NVDA, and CSX represent 9.37% of the JPMorgan Nasdaq Equity Premium Income ETF. Below is a summary table of the current analyst target prices discussed above:
Name
Symbol
Recent Price
Avg. Analyst 12-Mo. Target
% Upside to Target
JPMorgan Nasdaq Equity Premium Income ETF
JEPQ
$55.67
$61.02
9.61%
Starbucks Corp.
SBUX
$88.38
$97.70
10.55%
NVIDIA Corp
NVDA
$177.99
$196.63
10.47%
CSX Corp
CSX
$34.58
$38.08
10.13%
Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and industry developments? A high price target relative to a stock's trading price can reflect optimism about the future, but can also be a precursor to target price downgrades if the targets were a relic of the past. These are questions that require further investor research.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Implied JEPQ Analyst Target Price: $61

The S&P 500 Index ($SPX) (SPY) today is up by +1.62%, the Dow Jones Industrials Index ($DOWI) (DIA) is up by +1.93%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up by +1.81%. September E-mini S&P futures (ESU25) are up +1.58%, and September E-mini Nasdaq futures (NQU25) are up +1.75%.
Stock indexes are rallying sharply today, with the Dow Jones Industrials posting a new all-time high. Stock prices jumped and bond yields tumbled after comments from Fed Chair Powell opened the door for a Fed rate cut next month. Fed Chair Powell said downside risks to employment are rising, and the shifting balance of risks may warrant adjusting monetary policy. The 10-year T-note yield fell to a 1-week low of 4.25% on the comments, and the chances of a Fed rate cut at the September 29-30 FOMC meeting rose to 90% from 71% before Powell spoke.
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Fed Chair Powell said, "The stability of the unemployment rate and other labor market measures allows us to proceed carefully as we consider changes to our policy stance. Nonetheless, with policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance."
Comments today from Boston Fed President Susan Collins were slightly hawkish when she said, US economic growth is slowing, but overall economic fundamentals are solid as she sees upside risks to inflation and downside risks on labor. She added that Fed policy is modestly restrictive, which is appropriate.
On the geopolitical front, US Vice President Vance said negotiations over ending Russia's war in Ukraine are focused on security guarantees for Ukraine and territory Russia wants to control, including Ukrainian territory that it currently isn't occupying, as the US tries to broker a peace deal between the two countries. The US is working to set up a meeting between Presidents Putin and Zelensky, and if that meeting goes well, President Trump said he'll look to follow up with a trilateral summit with the leaders.
Regarding tariffs, President Trump widened steel and aluminum tariffs to include more than 400 consumer items that contain the metals, such as motorcycles, auto parts, furniture components, and tableware. The change went into effect on Monday and did not exclude goods already in transit. Last Friday, Mr. Trump said, "I'll be setting tariffs next week and the week after on steel and on, I would say chips – chips and semiconductors, we'll be setting sometime next week, week after." Mr. Trump last week said he planned a 100% tariff on semiconductors but would exempt companies that move chip manufacturing to the US. Mr. Trump also mentioned 200% or 300% tariffs on chips.
In other recent tariff news, Mr. Trump last Tuesday extended the tariff truce with China for another 90 days until November. On August 6, Mr. Trump announced that he will double tariffs on US imports from India to 50% from the current 25% tariff, due to India's purchases of Russian oil. On August 5, Mr. Trump said that US tariffs on pharmaceutical imports would be announced "within the next week or so." According to Bloomberg Economics, the average US tariff will rise to 15.2% if rates are implemented as announced, up from 13.3% earlier, and significantly higher than the 2.3% in 2024 before the tariffs were announced.
Federal funds futures prices are discounting the chances for a -25 bp rate cut at 90% at the September 16-17 FOMC meeting, up from 71% Thursday. The markets are discounting the chances at 53% for a second -25 bp rate cut at the following meeting on October 28-29.
Earnings reports indicate that S&P 500 earnings for Q2 are on track to rise +9.1% y/y, much better than the pre-season expectations of +2.8% y/y and the most in four years, according to Bloomberg Intelligence. With over 93% of S&P 500 firms having reported Q2 earnings, about 83% of companies exceeded profit estimates.
Overseas stock markets today are higher. The Euro Stoxx 50 rallied to a 5-month high and is up +0.67%. China's Shanghai Composite climbed to a new 10-year high and closed up +1.45%. Japan's Nikkei Stock 225 recovered from a 1.5-week low and closed up +0.05%.
Interest Rates
September 10-year T-notes (ZNU5) today are up +17 ticks, and the 10-year T-note yield is down -5.6 bp to 4.2716%. Sep T-notes rallied to a 1-week high today, and the 1-year T-note yield dropped to a 1-week low of 4.248%. T-note prices jumped today on dovish comments from Fed Chair Powell, who said downside risks to employment are rising and the shifting balance of risks may warrant adjusting monetary policy. Powell's comments boosted the chances for a 25 bp Fed rate cut to 90% at the September 29-30 FOMC meeting from 71% on Thursday.
Gains in T-notes are limited by hawkish comments from Boston Fed President Susan Collins, who said modestly restrictive Fed policy is appropriate. Also, rising inflation expectations are bearish for T-notes after the 10-year breakeven inflation rate rose to a 2-week high today at 2.416%.
European government bond yields today are moving lower. The 10-year German bund yield is down -2.8 bp to 2.729%. The 10-year UK gilt yield fell from a 2.75-month high of 4.759% and is down -2.2 bp to 4.707%.
German Q2 GDP was revised lower to -0.3% q/q and -0.2% y/y from the previously reported -0.1% q/q and unchanged y/y.
Swaps are discounting the chances at 2% for a -25 bp rate cut by the ECB at the September 11 policy meeting.
US Stock Movers
Strength in chipmakers is supporting gains in the broader market. Microchip Technology (MCHP) is up more than +6% to lead gainers in the Nasdaq 100. Also, ON Semiconductor (ON) and NXP Semiconductors NV (NXPI) are up more than +6%, and GlobalFoundries (GFS) is up more than +5%. In addition, ARM Holdings Plc (ARM), Marvell Technology (MRVL), and Intel (INTC) are up more than +4%, and Lam Research (LRCX), Micron Technology (MU), Texas Instruments (TXN), Analog Devices (ADI), and ASML Holding NV (ASML) are up more than +3%.
Homebuilders and home building supplies are climbing today after the 10-year T-note yield fell to a 1-week low, a supportive factor for housing demand. Builders FirstSource (BLDR) is up more than +8% to lead gainers in the S&P 500, and Mohawk Industries (MHK) is up more than +7%. Also, Lennar (LEN), PulteGroup (PHM), DR Horton (DHI), and Toll Brothers (TOL) are up more than +5%.
Ubiquiti (UI) is up more than +19% after reporting Q4 revenue of $759.2 million, well above the consensus of $621 million.
Zoom Communications (ZM) is up more than +9% after reporting Q2 revenue of $1.22 billion, better than the consensus of $1.20 billion, and raising its 2026 revenue forecast to $4.83 billion-$4.84 billion from a previous estimate of $4.80 billion-$4.81 billion, stronger than the consensus of $4.81 billion.
Qxo Inc (QXO) is up more than +6% after Benchmark Company LLC initiated coverage on the stock with a recommendation of buy and a price target of $50..
Esab Corp (ESAB) is up more than +4% after Loop Capital Markets upgraded the stock to buy from hold with a price target of $140.
Ulta Beauty (ULTA) is up more than +2% after Barclays upgraded the stock to overweight from equal weight with a price target of $589.
Intuit (INTU) is down more than -5% to lead losers in the S&P 500 and Nasdaq 100 after forecasting 2026 adjusted operating income of $8.61 billion-$8.69 billion, the midpoint below the consensus of $8.67 billion.
CSX Corp (CSX) is down more than -4% after announcing a joint intermodal service with BNSF to ship between California, North Carolina, and Florida.
Workday (WDAY) is down more than -4% after reporting an unexpected -$5 million loss in Q2 professional services adjusted gross profit versus expectations of a $9.5 million profit.
Telecommunication stocks are under pressure today. Verizon Communications (VZ) is down more than -1% to lead losers in the Dow Jones Industrials. Also, AT&T (T) and T-Mobile US (TMUS) are down more than -1%.
Earnings Reports(8/22/2025)
BJ's Wholesale Club Holdings Inc (BJ), Buckle Inc/The (BKE), New Fortress Energy Inc (NFE), Ubiquiti Inc (UI).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Soar as Fed Chair Powell Signals Lower Interest Rates

CSX Corporation (CSX) is currently grabbing everyone’s eyeballs after facing criticism from its investors due to its lackluster performance and failure to engage in merger talks to strengthen its foothold in the railroad industry.
In a letter to CSX’s independent members of the board of directors, activist investor Ancora Holdings has expressed its concerns and dissatisfaction over CSX’s current deteriorating operational performance under chief executive officer (CEO) Joe Hinrichs.
The letter clearly states how CSX is failing to generate higher shareholder returns since 2022 (as compared to previous years); grappling with awful operating ratios, ranging from 58% (when Mr. Hinrichs joined) in 2022 to approximately 67% year to date; lack of competent and experience employees and failure to grab the opportunity of seeking a railroad merger in the industry.
Ancora Holdings’ thoughts about CSX CEO have been supported by analysts, customers, former industry executives, retired regulators, and an array of current and prospective shareholders, who all agree on the fact that CSX has come down to the current difficult position.
Apart from this aforesaid ongoing disappointing scenario of CSX, Ancora Holdings is highly stressed about the fact that once Norfolk Southern Corporation NSC and Union Pacific Corporation UNP start operating, if their merger materializes, CSX’s operations would be hurt. As a result, Ancora Holdings is urging CSX’s board to explore merger options.
Ancora Holdings suggests discussions with both BNSF Railway Company and Canadian Pacific Kansas City Limited (CP) to explore all merger options for maximizing shareholder value. While BNSF being a cash buyer can bring a highly disciplined approach to any negotiations, CPKC might prove beneficial for CSX as it gears up to compete in a new railroading environment.
Given this backdrop, we keenly await seeing in which direction CSX finally heeds, whether it chooses to go for merger options (as stressed by investors) or it opts for any other strategic business move to stand still in the railroad industry. The upcoming weeks are highly crucial for CSX’s management team.
Currently, CSX, CP and UNP carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
NSC carries a Zacks Rank #4 (Sell).
CSX’s Share Price Movement
Shares of CSX scaled a 52-week high of $37.25 in the trading session on Aug. 19, 2025, before closing a tad lower at $36.52. The surge comes on the heels of Ancora Holdings’ interest in the stock.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Will CSX Explore Merger Options Post Pressure From Activist Investor?

The S&P 500 Index ($SPX) (SPY) Tuesday closed down by -0.59%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up by +0.02%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down by -1.39%. September E-mini S&P futures (ESU25) fell -0.54%, and September E-mini Nasdaq futures (NQU25) fell -1.37%.
Stock indexes settled mixed on Tuesday, with the Nasdaq 100 falling to a 1.5-week low and the Dow Jones industrials posting a new all-time high. Tuesday’s selloff in chip makers and the Magnificent Seven megacap technology stocks weighed on the overall market.
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On the positive side, Home Depot recovered from early losses and closed up more than +3% to push the Dow Jones industrials to a new record high after it reported a +3% jump in July comparable same-store sales. Lowes and Target will report their earnings on Wednesday, and Walmart will report on Thursday.
Lower bond yields on Tuesday were supportive of stocks, as the 10-year T-note yield fell -3 bp to 4.30%. US government debt garnered support Tuesday after S&P Global Ratings affirmed its AA+ long-term rating and A-1+ short-term rating on US debt and said the US can maintain its credit strength despite the fiscal hit of its recent spending bill because tariff revenues will “generally offset weaker fiscal outcomes.”
Tuesday’s US housing news was mixed. US Jul housing starts unexpectedly rose +5.2% m/m to a 5-month high of 1.428 million, stronger than expectations of a decline to 1.297 million. However, Jul building permits, a proxy for future construction, fell -2.8% m/m to a 5-year low of 1.354 million, weaker than expectations of -0.5% m/m to 1.386 million.
Diplomatic talks over the war in Ukraine continue to make headway. Ukrainian President Zelenskiy said he came away with a commitment from President Trump late Monday to join security guarantees for any peace deal and reserve discussion on territorial swaps with Russia for later. President Trump is pushing for a summit between Presidents Putin and Zelenskiy soon, and European leaders are discussing a plan to send British and French troops to Ukraine as part of a peace agreement. The outcome of the talks could have macroeconomic implications regarding tariffs and oil prices, and could, of course, have significant consequences for European security.
The focus of the markets this week will be on any new tariff news and signs of progress toward a Ukraine peace deal. On Wednesday, the minutes of the July 29-30 FOMC meeting will be released. On Thursday, weekly initial unemployment claims are expected to climb by +1,000 to 225,000 and the Aug Philadelphia Fed business outlook survey is expected to fall to 6.7 from 15.9 in July. Also, the Aug S&P manufacturing PMI is expected to remain unchanged at 49.8. In addition, Jul existing home sales are expected to fall -0.3% m/m to 3.92 million. On Friday, Fed Chair Powell speaks on the economic outlook at the Federal Reserve’s annual symposium at Jackson Hole, Wyoming.
Regarding tariffs, President Trump widened steel and aluminum tariffs to include more than 400 consumer items that contain the metals, such as motorcycles, auto parts, furniture components, and tableware. The change went into effect on Monday and did not exclude goods already in transit. Last Friday, Mr. Trump said, “I’ll be setting tariffs next week and the week after on steel and on, I would say chips – chips and semiconductors, we’ll be setting sometime next week, week after.” Mr. Trump last week said he planned a 100% tariff on semiconductors but would exempt companies that move chip manufacturing to the US. Mr. Trump also mentioned 200% or 300% tariffs on chips.
In other recent tariff news, Mr. Trump last Tuesday extended the tariff truce with China for another 90 days until November. On August 6, Mr. Trump announced that he will double tariffs on US imports from India to 50% from the current 25% tariff, due to India’s purchases of Russian oil. On August 5, Mr. Trump said that US tariffs on pharmaceutical imports would be announced “within the next week or so.” According to Bloomberg Economics, the average US tariff will rise to 15.2% if rates are implemented as announced, up from 13.3% earlier, and significantly higher than the 2.3% in 2024 before the tariffs were announced.
Federal funds futures prices are discounting the chances for a -25 bp rate cut at 87% at the September 16-17 FOMC meeting, down from 93% last Thursday. The markets are discounting the chances at 54% for a second -25 bp rate cut at the following meeting on October 28-29.
Earnings reports indicate that S&P 500 earnings for Q2 are on track to rise +9.1% y/y, much better than the pre-season expectations of +2.8% y/y and the most in four years, according to Bloomberg Intelligence. With over 92% of S&P 500 firms having reported Q2 earnings, about 82% of companies exceeded profit estimates.
Overseas stock markets on Tuesday settled mixed. The Euro Stoxx 50 rose to a 4.75-month high and closed up +0.89%. China’s Shanghai Composite fell from a 10-year high and closed down -0.02%. Japan’s Nikkei Stock 225 retreated from a new record high and closed down -0.38%.
Interest Rates
September 10-year T-notes (ZNU25) Tuesday closed up +8 ticks, and the 10-year T-note yield fell -3.2 bp to 4.302%. Sep T-notes rallied Tuesday after S&P Global Ratings said that higher revenues from tariffs will help soften the blow to the US’s fiscal health from the president’s tax cuts, enabling the country to maintain its AA+ long-term credit rating. The weakness in stocks on Tuesday also supported safe-haven demand for T-notes. Gains in T-notes were limited due to concerns that last week’s bearish US July CPI and PPI reports could keep the Fed from cutting interest rates at next month’s FOMC meeting.
European government bond yields on Tuesday were mixed. The 10-year German bund yield fell -1.3 bp to 2.750%. The 10-year UK gilt yield rose to a 2.5-month high of 4.756% and finished up by +0.2 bp to 4.740%.
Swaps are discounting the chances at 7% for a -25 bp rate cut by the ECB at the September 11 policy meeting.
US Stock Movers
The weakness in the Magnificent Seven stocks on Tuesday was a drag on the overall market. Nvidia (NVDA) closed down more than -3%, and Meta Platforms (META) closed down more than -2%. Also, Alphabet (GOOGL), Amazon (AMZN), Microsoft (MSFT), and Tesla (TSLA) closed down more than -1%. In addition, Apple (AAPL) fell -0.14%.
Advanced Micro Devices (AMD) closed down more than -5% to lead chipmakers lower after GF Securities downgraded the stock to hold from buy. Also, Marvell Technology (MRVL) closed down more than -5%, and ARM Holdings Plc (ARM) closed down more than -4%. In addition, Broadcom (AVGO) closed down more than -3%, and Qualcomm (QCOM), Microchip Technology (MCHP), ON Semiconductor (ON), GlobalFoundries (GFS), NXP Semiconductors NV (NXPI), and Micron Technology (MU) closed down more than -1%.
Viking Therapeutics (VKTX) closed down more than -42% after a Phase 2 trial of its oral weight loss drug showed 28% of patients discontinued treatment over tolerability concerns.
Fabrinet (FN) closed down more than -12% after it said it expects to see a sequential dip in datacom segment revenue in its fiscal Q1, citing supply constraints for some critical components.
Amer Sports (AS) closed down more than -4% after forecasting Q3 adjusted operating margin of 12% to 13%, below the consensus of 13%.
Vertiv Holdings (VRT) closed down more than -4% after GLJ Research initiated coverage on the stock with a recommendation of sell and a price target of $112.
Medtronic Plc (MDT) closed down more than -2% after reporting Q1 adjusted operating margin of 23.6%, weaker than the consensus of 23.7%.
Intel (INTC) closed up more than +6% to lead gainers in the S&P 500 and Nasdaq 100 after SoftBank Group Corp agreed to buy $2 billion of the company’s stock.
Trucking companies moved higher on Tuesday. JB Hunt Transport Services (JBHT) and Knight-Swift Transportations Holdings (KNX) closed up more than +3%. Also, Old Dominion Freight Line (ODFL), FedEx (FDX), and Schneider National (SNDR) closed up more than +2%. In addition, CSX Corp (CSX) closed up more than +1%.
Home Depot (HD) recovered from an early decline and closed up more than +3% to lead gainers in the Dow Jones Industrials after reporting that July comparable same-store sales rose more than +3%.
Prologis (PLD) closed up more than +5% after Mizuho Securities upgraded the stock to outperform from neutral with a price target of $118.
Best Buy (BBY) closed up more than +3% after announcing the launch of a new third-party seller platform, which more than doubles the number of its available products online.
Palo Alto Networks (PANW) closed up more than +3% after it forecast 2026 revenue of $10.48 billion-$10.53 billion, stronger than the consensus of $10.44 billion.
Earnings Reports(8/20/2025)
Analog Devices Inc (ADI), Coty Inc (COTY), Estee Lauder Cos Inc/The (EL), Lowe’s Cos Inc (LOW), Nordson Corp (NDSN), Target Corp (TGT), TJX Cos Inc/The (TJX).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.