MicroStrategy Incorporated provides artificial intelligence-powered enterprise analytics software and services in the United States, Europe, the Middle East, Africa, and internationally. It offers MicroStrategy ONE, which provides non-technical users with the ability to directly access novel and actionable insights for decision-making; and MicroStrategy Cloud for Government service, which offers always-on threat monitoring that meets the rigorous technical and regulatory needs of governments and financial institutions. The company also provides MicroStrategy Support that helps customers achieve their system availability and usage goals through highly responsive troubleshooting and assistance; MicroStrategy Consulting, which provides architecture and implementation services to help customers realize their desired results; and MicroStrategy Education that offers free and paid learning options. In addition, it engages in the development of bitcoin. The company offers its services through direct sales force and channel partners. It serves the U.S. government, state and local governments, and government agencies, as well as a range of industries, including retail, banking, technology, manufacturing, insurance, consulting, healthcare, telecommunications, and the public sector. The company was incorporated in 1989 and is headquartered in Tysons Corner, Virginia.

Strategy Inc appears to be a company with a very strong balance sheet cushion, but with highly ambiguous valuation quality. On the one hand, cash on hand has increased to $2.45 billion, the current ratio remains at a comfortable 5.39, and debt/equity of 0.22 looks moderate and better than the industry median. On the other hand, the quick ratio is 0.00, which points to weak immediate liquidity and dependence on the structure of current assets.  

In terms of return on capital, the picture is weak: ROE, ROA, ROI, and return on tangible equity in TTM have fallen to zero after strong values in 2025, meaning efficiency has deteriorated sharply. Profitability has also declined: net profit margin and operating margin in TTM are both 0.00, although gross margin remains high at 67.67 and well above the industry. Revenue in TTM stands at $122 million and is above the industry median, but recent-period dynamics do not show a convincing acceleration, and gross profit remains stable without clear growth. At the same time, net income and operating income in absolute terms remain high, which supports underlying resilience, but does not remove concerns about the quality and repeatability of earnings.  

Long-term debt of $6.67 billion remains significant, although it does not appear excessive relative to capital and assets. The weakest point in the valuation is the price/sales ratio of 79.54, which is extremely high relative to the industry and requires very strong future growth to justify the current market capitalization. Price/book at 1.50 looks less expensive, but it does not offset the extremely high revenue multiple and weak TTM profitability metrics. P/E and P/FCF in TTM are uninformative because of zero values, which further increases uncertainty in interpretation.  

Overall, the fundamentals send a mixed signal: the balance sheet and liquidity support the valuation, but declining efficiency, weak current profitability, and very expensive revenue limit the re-rating potential. For an investor, this is more a story of a high-quality balance sheet but inflated market expectations, so a cautious downward revision of the forecast is appropriate.

Strategy Inc

Средний индекс, значительно упал. Оптимистичный взгляд на свои позиции резко сменился на неуверенность.

Medium index, significantly down. An optimistic view of his position suddenly changed to uncertainty.

Слабый индекс, без изменений

Средний индекс, значительно упал. Рынок не поддерживает быков.

Medium index, significantly down. The market does not support the bulls.

Средний индекс, без изменений. Отток средств из лонгов на высоком уровне.

Medium index, flat. Outflow of funds from longs at a high level.

Strong balance sheet and high gross margin do not offset the collapse in profitability and the extremely high P/S, so the valuation looks overstretched.

Key Points
Until the price of Bitcoin recovers, the business model of Bitcoin treasury companies will remain under immense strain.
During the summer, Strategy sold Bitcoin at $60K and then bought it back weeks later for $80K.
Investors looking for exposure to the upside potential of Bitcoin are better off just buying it directly.
When investing, a fundamental principle has always been to "buy low, sell high." In other words, pick up an asset at a low price and then sell it at a higher price. That's true for equities, and it's also true for Bitcoin (CRYPTO: BTC).
That's why I'm so concerned about the Bitcoin treasury companies right now. They are turning that core piece of investment logic on its head: They are buying high and selling low. From my perspective, that makes them very unattractive investment targets.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Strategy sells at $60K and then buys at $80K
To see this dynamic in action, consider what happened to Strategy (NASDAQ: MSTR), formerly known as MicroStrategy, this summer. From June 30 to Aug. 10, the company sold Bitcoin four times, at prices ranging from $59,256 to $64,262. For the sake of argument, let's call this $60K.
Then, on Aug. 31, Strategy made its first Bitcoin buy in weeks. It bought Bitcoin at $80,318. Again, for the sake of argument, let's call this $80K.
So, if you only consider the data from June 30 to Aug. 31, Strategy was buying high and selling low. At this point, you might be asking yourself: Why would Strategy possibly want to do this?
The answer is simple: When it sold, the company needed the money. Strategy needed to sell off some of its Bitcoin to fund ongoing operations and make payments on its preferred stock offerings. So it had to accept whatever price Mr. Market offered.
Now, this could be a one-time event, and maybe there's nothing to worry about. Maybe the price of Bitcoin is on the climb once again, and Strategy can go back to buying low and selling high.
Strategy certainly wants investors to think this. They don't want to admit that there is a flaw in their Bitcoin treasury company model. But the reality is that the company's strategy only makes sense if the price of Bitcoin is rising. If the price of Bitcoin is declining or trading sideways (as it was during June and July), then it does not.
Why not just buy Bitcoin?
Taking a big-picture view, a surprising number of Bitcoin treasury companies appear to be in trouble. Some are trading for less than the combined value of their Bitcoin holdings. Some are winding down operations entirely. Others are pivoting into AI or any other fast-growth area. And still others are consolidating with bigger Bitcoin treasury companies.
Just look at the stock market performance of publicly traded Bitcoin treasury companies. Strategy is down 58% over the past year. Twenty One Capital is down 71% over the past year. Strive is down 78%.
At this point, you're better off just buying Bitcoin and waiting for the price to rebound. For a brief period, Bitcoin treasury companies were able to defy expectations and outperform Bitcoin. But over the long haul, there's just simply no way to out-Bitcoin Bitcoin.
Should you buy stock in Strategy right now?
Before you buy stock in Strategy, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Strategy wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $409,917!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,341,724!*
Now, it’s worth noting Stock Advisor’s total average return is 942% — a market-crushing outperformance compared to 211% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of September 12, 2026.
Dominic Basulto has positions in Bitcoin. The Motley Fool has positions in and recommends Bitcoin and Strive. The Motley Fool has a disclosure policy.

Strategy Sold Bitcoin at $60K and Then Bought It at $80K. That's Why I'm Not Buying Bitcoin Treasury Companies Right Now.

The S&P 500 Index ($SPX) (SPY) on Friday rose by +0.86%, the Dow Jones Industrial Average ($DOWI) (DIA) rose by +0.98%, and the Nasdaq 100 Index ($IUXX) (QQQ) rose by +0.91%. E-mini S&P futures (ESU26) rose +0.83%, and September E-mini Nasdaq futures (NQU26) rose +0.86%.
Stock indexes closed higher, supported by Friday’s -2.4% decline in oil prices. The stock market took Friday’s CPI report largely in stride, even as the 10-year T-note yield closed slightly higher and the odds of a Fed rate hike next week rose to 85%.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Friday’s Aug US CPI report of +0.4% m/m was in line with market expectations, but the core CPI report of +0.3% m/m was slightly stronger than market expectations of +0.2% m/m. On a year-on-year basis, the Aug CPI report of +3.4% y/y was unchanged from July and was in line with market expectations. Meanwhile, the Aug core CPI report of +2.4% y/y eased slightly from July’s +2.5% and posted a new 5.5-year low, and was in line with market expectations.
Friday’s CPI report caused the markets to raise the odds for a +25 bp FOMC rate hike at next week’s meeting on September 15-16 to 88% from 75% on Thursday.
Stocks were undercut by Friday’s weaker-than-expected US consumer sentiment report. The University of Michigan’s preliminary Sep US consumer sentiment index fell by -3.9 points to 47.8, weaker than market expectations for a -0.6 point decline to 51.3.
Also on the negative side, the University of Michigan reported that Sep US consumer 1-year inflation expectations rose to +4.6% from +4.0% in August, stronger than expectations of +4.2%. Sep consumer 5-10 year inflation expectations rose to +3.4% from +3.3% in August, and were stronger than market expectations of +3.3%.
The US-Canada trade war continues to weigh on stock market sentiment. On Tuesday, Canada imposed tariffs of 15% to 50% on hundreds of US goods in retaliation for the US action last month to impose 50% tariffs on $20 billion of imports from Canada. The US responded by blocking imports of some Canadian products and slapping new tariffs on others, and by seeking to bar Canadian companies from selling to US government contractors.
Oct WTI crude oil prices (CLV26) fell -2.4% on Friday, reversing part of Thursday’s +6.7% surge to a 3.5-month high. Oil prices still rose by a net +9% on the week, but fell on Friday after the International Energy Agency warned that high oil prices and restricted oil supply will cause the biggest drop in global oil demand this year since the Covid-19 pandemic.
There were reports that two ships were struck by unidentified projectiles near Oman on Thursday, presumably by Iran. Also, Axios reported that Saudi Crown Prince Mohammed bin Salman called President Trump twice on Thursday, asking him to launch a new military attack against the Houthis in Yemen, who are gaining control of more territory in Yemen near the critical Bab el-Mandeb Strait and have been striking Saudi oil facilities. Saudi Arabia told OPEC on Thursday that its crude production in August fell to 6.238 million bpd, the lowest since 1990.
Overseas stock markets closed mixed on Friday. The Euro Stoxx 50 closed up +0.90%. China's Shanghai Composite closed down -1.18%. Japan's Nikkei-225 Stock Average closed down -1.91%.
Interest Rates
December 10-year T-notes (ZNZ6) fell by -7 ticks. The 10-year T-note yield rose +0.6 bp to 4.969%, following Thursday’s +11 bp surge to a 2.75-year high of 4.963%. T-note prices found support early in the session from lower oil prices but eventually succumbed to the hawkish CPI report and the higher odds of an FOMC rate hike next week. T-note prices had some underlying support as the 10-year breakeven inflation expectations rate fell -4.4 bp to 2.373%, down from Thursday’s 3.25-month high of 2.42%.
European government bond yields were mixed. The 10-year German bund yield today posted a new 24-year high of 3.532% and ended the day up +0.3 bp to 3.504%. The 10-year UK gilt yield edged to a 19-year high of 5.380% but ended the day down -3.1 bp to 5.343%.
Markets are discounting a 78% chance of a +25 bp ECB rate hike at the ECB’s next meeting on October 29. The ECB at this week’s meeting raised its deposit facility rate by 25 bp to 2.50%, as expected, and said inflation will stay above 2% for an "extended period."
US Stock Movers
Oracle (ORCL) rallied +5% in Thursday’s overnight session on positive cloud news but then lost those gains and ended Friday down -1.7%. Oracle said late Thursday that its cloud infrastructure sales rose +121% to $7.4 billion, above the market consensus of $7.2 billion. Oracle’s co-CEO Clay Magouyrk said, “We are delivering data center and GPU capacity at a pace that would have seemed impossible only a year ago.” The company also said it sold more than $30 billion in AI cloud contracts during the latest quarter, higher than expectations. Fiscal-Q1 sales rose +30% and the adjusted EPS report of $1.92 per share was higher than market expectations of $1.75.
Chipmakers rose nearly across the board on Friday, and the iShares Semiconductor ETF (SOXX) rallied +1.75% on the day. ON Semiconductor (ON) rallied more than +8%. Analog Devices (ADI), NXP Semiconductors (NXPI), Arm Holdings (ARM), and Marvell (MRVL) all rallied more than +4%.
The Magnificent Seven all closed higher on Friday except for Nvidia (NVDA), which showed a small loss. Amazon.com, Alphabet (GOOGL), and Apple (AAPL) all rallied by more than +1%. Apple found continued support after releasing its new iPhone Duo earlier this week, its first foldable phone.
Microsoft (MSFT) rallied +0.65% after saying it plans a data center push to triple its computing power since a current shortage is forcing it to turn away new AI and cloud business.
Crypto stocks traded higher on Friday, supported by a +3.1% gain in Ethereum (^ETHUSD) and a +0.2% gain in Bitcoin (^BTCUSD). Mara Holdings (MARA) rallied more than +4%, Riot Platforms rallied more than +2%, and Strategy (MSTR)and Coinbase (COIN) rallied more than 1%.
Adobe (ADBE) closed up +1.4% despite slightly disappointing guidance, fueling concerns that AI will cannibalize software revenue.
Dell Technologies (DELL) rallied nearly +12% after RBC Capital Markets started research coverage with an outperform rating and $640 price target based on expectations for strong AI infrastructure demand.
Earnings Reports (9/14/2026)
Liberty Live Holdings (LLYVK).
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.
More news from Barchart

Stocks Shake Off CPI Report and Rally on Lower Oil Prices

The S&P 500 Index ($SPX) (SPY) is up +0.89%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.81%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.95%. E-mini S&P futures (ESU26) are up +0.82%, and September E-mini Nasdaq futures (NQU26) are up +0.85%.
Stock indexes are trading higher today, supported by today’s decline of more than -2% in oil prices. The stock and bond markets took today’s CPI report largely in stride. Aug core CPI came in at +0.3% m/m, slightly above market expectations of +0.2%, while nominal CPI was +0.4% m/m, in line with expectations. T-note prices are trading slightly higher, even though the markets raised the odds of a FOMC rate hike next week to 88% from 75% on Thursday.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Today’s Aug US CPI report of +0.4% m/m was in line with market expectations, but the core CPI report of +0.3% m/m was slightly stronger than market expectations of +0.2% m/m. On a year-on-year basis, the Aug CPI report of +3.4% y/y was unchanged from July and was in line with market expectations. Meanwhile, the Aug core CPI report of +2.4% y/y eased slightly from July’s +2.5% and posted a new 5.5-year low, and was in line with market expectations.
Today’s CPI report caused the markets to raise the odds for a +25 bp FOMC rate hike at next week’s meeting on September 15-16 to 88% from 75% on Thursday.
Stocks were undercut by today’s weaker-than-expected US consumer sentiment report. The University of Michigan’s preliminary Sep US consumer sentiment index fell by -3.9 points to 47.8, weaker than market expectations for a -0.6 point decline to 51.3.
Also on the negative side, the University of Michigan reported that Sep US consumer 1-year inflation expectations rose to +4.6% from +4.0% in August, stronger than expectations of +4.2%. Sep consumer 5-10 year inflation expectations rose to +3.4% from +3.3% in August, and were stronger than market expectations of +3.3%.
The US-Canada trade war continues to weigh on stock market sentiment. On Tuesday, Canada imposed tariffs of 15% to 50% on hundreds of US goods in retaliation for the US action last month to impose 50% tariffs on $20 billion of imports from Canada. The US responded by blocking imports of some Canadian products and slapping new tariffs on others, and by seeking to bar Canadian companies from selling to US government contractors.
Oct WTI crude oil prices (CLV26) are down more than -2% today, giving back part of Thursday’s +6.7% surge to a 3.5-month high. Oil prices are still sharply higher on the week, but fell back today after the International Energy Agency today warned that high oil prices and restricted oil supply will cause the biggest drop in global oil demand this year since the Covid-19 pandemic.
There were reports that two ships were struck by unidentified projectiles near Oman on Thursday, presumably by Iran. Also, Axios reported that Saudi Crown Prince Mohammed bin Salman called President Trump twice on Thursday, asking him to launch a new military attack against the Houthis in Yemen, who are gaining control of more territory in Yemen near the critical Bab el-Mandeb Strait and have been striking Saudi oil facilities. Saudi Arabia told OPEC on Thursday that its crude production in August fell to 6.238 million bpd, the lowest since 1990.
Overseas stock markets are mixed. The Euro Stoxx 50 is up +0.66%. China's Shanghai Composite closed down -1.18%. Japan's Nikkei-225 Stock Average closed down -1.91%.
Interest Rates
December 10-year T-notes (ZNZ6) are up +1 tick. The 10-year T-note yield is down -3.1 bp to 4.932%, following Thursday’s +11 bp surge to a 2.75-year high of 4.963%. T-note prices shook off the CPI report and the higher odds of an FOMC rate hike next week and are trading higher on today’s decline in oil prices. The 10-year break-even inflation expectations rate is down -3.9 bp to 2.378%, falling back from Thursday’s 3.25-month high of 2.42%.
European government bond yields are mixed. The 10-year German bund yield today posted a new 24-year high of 3.532% and is up +1.1 bp to 3.512%. The 10-year UK gilt yield edged to a 19-year high of 5.380% but then backed off and is down -3.2 bp to 5.342%.
Markets are discounting a 78% chance of a +25 bp ECB rate hike at the ECB’s next meeting on October 29. The ECB at this week’s meeting raised its deposit facility rate by 25 bp to 2.50%, as expected, and said inflation will stay above 2% for an "extended period."
US Stock Movers
Oracle (ORCL) is up +0.6% after reporting late Thursday that its cloud infrastructure sales rose +121% to $7.4 billion, above the market consensus of $7.2 billion. Oracle’s co-CEO Clay Magouyrk said, “We are delivering data center and GPU capacity at a pace that would have seemed impossible only a year ago.” The company also said it sold more than $30 billion in AI cloud contracts during the latest quarter, higher than expectations. Fiscal-Q1 sales rose +30% and the adjusted EPS report of $1.92 per share was higher than market expectations of $1.75.
The positive Oracle news boosted other cloud infrastructure stocks, with Applied Digital (APLD) up more than +2% and Coreweave (CRWV) up more than +1%.
Chipmakers are higher nearly across the board on the positive Oracle news, with TI (TXN), ON Semiconductor (ON), and Analog Devices (ADI) up more than +4%.
The Magnificent Seven are all trading higher today, led by gains of more than +2% in Apple (AAPL) and Alphabet (GOOGL). Apple is seeing continued support after releasing its new iPhone Duo earlier this week, its first foldable phone.
Microsoft (MSFT) is trading slightly higher after saying it plans a data center push to triple its computing power since a current shortage is forcing it to turn away new AI and cloud business.
Crypto stocks are trading higher due to today’s rally of about +2% in bitcoin. Mara Holdings (MARA) is up more than +7%. Strategy (MSTR)and Coinbase (COIN) are up more than +5%.
Adobe (ADBE) is little changed after providing slightly disappointing guidance, which fueled concerns that AI will cannibalize software revenue.
Dell Technologies (DELL) is up more than +10% after RBC Capital Markets started research coverage with an outperform rating and $640 price target based on expectations for strong AI infrastructure demand.
Earnings Reports (9/11/2026)
Kroger Co (KR) and Rent the Runway Inc (RENT).
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.

Key Points
Strategy sold some of its Bitcoin in August, joining prior recent sales.
The price of Bitcoin still grew considerably in that period.
I'm buying more of it.
Strategy (NASDAQ: MSTR) (formerly known as MicroStrategy) selling its Bitcoin (CRYPTO: BTC) is not a reason for you to sell yours. The digital asset treasury (DAT) company led by Michael Saylor unloaded 3,328 BTC for a total of $213 million over the two weeks ending Aug. 9, adding to investors' fears that the company's sales would spark a larger sell-off just as its bear market seemed to be finally ending.
Saylor's sales don't bother me. In fact, I'm loading up on more Bitcoin. Here's why.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Buyers just gobbled up hundreds of millions in sales
As a DAT, Strategy can raise capital by issuing several different classes of stock, some of which pay holders a fixed cash dividend. Bitcoin produces no cash flows, so any dividends that the company pays to those shareholders either need to come from new stock issuance, typically from a different class of its shares, or from its Bitcoin holdings.
August saw both of those possibilities occur. Strategy sold 1,690 BTC for $108.6 million in the week ending Aug. 9 and then used the proceeds to buy back its preferred shares, shoring up their price. Three weeks later, it bought 4,603 BTC for $369.7 million, bringing its total holdings of the coin to 845,050 BTC as of Aug. 30.
BlackRock's iShares Bitcoin Trust brought in more than $1.5 billion of net inflows during the 10 trading days ending on Aug. 31. This is to say, one of many funds that hold Bitcoin saw vastly larger inflows than what Strategy sold. Spot Bitcoin exchange-traded funds (ETFs) took in more than any other single buyer disclosed that week. And Bitcoin's price rose 21% during the month.
Should a change in Strategy's selling change your investing plan?
Strategy's filings tell you a great deal about Strategy and very little about Bitcoin, so investors probably shouldn't fixate on them.
While the company holds a bit over 4% of the coin's total possible supply of 21 million BTC, nothing it does can change the fundamental properties of the protocol, which is where its value comes from. Importantly, it's the protocol's tight, decreasing limits on the pace of Bitcoin production that create its scarcity.
At the very most, Strategy buying up a lot of Bitcoin can stimulate higher prices if most of its supply is held rather than sold. But even selling some of its hoard only briefly adds to the supply available for purchase, which pressures the price downward rather than up; as established earlier, institutions and individuals buying the ETFs constitute a large and willing pool of demand for any supply that hits the market.
So, in the long run, as the newly available supply keeps shrinking, the presence of any one additional buyer (or seller) doesn't mean much. And that's why I'm continuing to buy more Bitcoin, whether Strategy decides to keep selling or not.
Should you buy stock in Bitcoin right now?
Before you buy stock in Bitcoin, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Bitcoin wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $445,833!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,402,153!*
Now, it’s worth noting Stock Advisor’s total average return is 993% — a market-crushing outperformance compared to 214% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
Alex Carchidi has positions in Bitcoin and iShares Bitcoin Trust. The Motley Fool has positions in and recommends Bitcoin, BlackRock, and iShares Bitcoin Trust. The Motley Fool has a disclosure policy.

Michael Saylor's Strategy Continues to Sell Bitcoin. That's Why I'm Doubling Down on Bitcoin Right Now.

Key Points
Strategy bought $370 million in Bitcoin in late August.
It looks undervalued relative to its Bitcoin holdings.
Bitcoin’s price could soar over the next few years as fresh catalysts kick in.
Over the past six years, Strategy (NASDAQ: MSTR) -- once known as MicroStrategy -- became the world's largest corporate holder of Bitcoin (CRYPTO: BTC). Its founder and executive chairman, Michael Saylor, believes Bitcoin's price could hit $21 million within the next 20 years.
That's why Bitcoin's investors closely follow Strategy's Bitcoin trades. So when Strategy sold roughly 7,000 Bitcoins (at average prices between $60,000 and $65,000) in March and August, many investors thought darker days were ahead for the world's top cryptocurrency.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
However, Strategy CEO Phong Le recently said the company was still bullish on Bitcoin, and that it only sold some of its holdings to cover its preferred dividends and reduce its debt. It also ended a 10-week buying pause by buying 4,603 Bitcoins for $370 million in late August.
Does that purchase mean Bitcoin is back?
That purchase boosted Strategy's total Bitcoin holdings to 845,050 coins, which are worth $68.5 billion as of this writing. That exceeds the company's market cap of $47.3 billion and its enterprise value of $50.3 billion -- so it's undervalued relative to its Bitcoin holdings.
However, Strategy trades at that discount because the near-term headwinds for Bitcoin could limit its gains. Elevated Treasury yields and rising interest rates could chill the crypto market and drive investors toward more conservative investments. That pressure could curb the market's enthusiasm for buying Bitcoin as a hedge against expansionary monetary policies.
While Bitcoin has risen nearly 30% over the past month, it remains 36% below its all-time high of roughly $126,000, which it reached last October. Therefore, it's premature to claim that Strategy's latest Bitcoin buy -- which doesn't even fully offset its Bitcoin sales earlier this year -- is a green flag that indicates it will head higher.
It's smart to stick with Bitcoin and Strategy
Bitcoin probably won't revisit its all-time high this year, but several catalysts could drive it much higher over the next few years. Its next halving, which halves its mining rewards every four years, will occur in 2028, making it even more difficult to mine profitably.
The soaring U.S. national debt, which recently hit $40 trillion, could drive the Fed to debase the purchasing power of the U.S. dollar with more aggressive "Fiscal Dominance" strategies -- and that devaluation will make Bitcoin and other blue chip cryptocurrencies more attractive. If you expect those tailwinds to lift Bitcoin higher, it makes sense to accumulate it before it fully recovers. It would also be smart to invest in Strategy before its valuations rise again.
Should you buy stock in Bitcoin right now?
Before you buy stock in Bitcoin, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Bitcoin wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $446,157!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,377,357!*
Now, it’s worth noting Stock Advisor’s total average return is 984% — a market-crushing outperformance compared to 212% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
Leo Sun has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy.

Strategy Buys $370M in Bitcoin After 2-Month Pause, Boosting Total Holdings to 845,050 Coins. Is BTC Back?

In early trading on Thursday, shares of Honeywell International topped the list of the day's best performing components of the Nasdaq 100 index, trading up 7.5%. Year to date, Honeywell International registers a 42.2% gain.
And the worst performing Nasdaq 100 component thus far on the day is Broadcom, trading down 4.6%. Broadcom is showing a gain of 1.2% looking at the year to date performance.
Two other components making moves today are Western Digital, trading down 4.1%, and Strategy, trading up 7.3% on the day.

Nasdaq 100 Movers: AVGO, HONIV

Key Points
The iShares Bitcoin Trust is the best spot Bitcoin exchange-traded fund on the market, largely due to its huge scale.
Michael Saylor-led Strategy is the only entity that holds more Bitcoin.
Despite not being the cheapest spot Bitcoin ETF, it has a roster of well-known institutional holders that support its dominant position.
Bitcoin has bounced back in the past couple of weeks. Since Aug. 19, the world's most valuable digital asset has seen its price surge 21% (as of Sept. 1). The bulls have been waiting for some positive momentum, as Bitcoin was trading below $70,000 for about two and a half months.
U.S.-based investors that want exposure to the top cryptocurrency in an accessible, convenient, and regulatory-compliant way can pick between the many different spot exchange-traded funds (ETFs). But how do you choose just one from this long list?
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
I believe the iShares Bitcoin Trust (NASDAQ: IBIT) is the best choice. Here's why.
The iShares Bitcoin Trust has $61 billion in net assets
The first reason this is the leading option is that it's by far the largest spot Bitcoin ETF out there. As of Sept. 1, the iShares Bitcoin Trust had $61.4 billion in net assets. This huge sum puts it significantly ahead of the next biggest ETF, which is the Fidelity Wise Origin Bitcoin Fund, which has less than 25% of the net assets compared to its rival. The market is clearly voting, as indicated by where it's directing its capital, that the iShares Bitcoin Trust is the best Bitcoin ETF.
In nine of the past 10 days, billions of dollars have flowed into spot Bitcoin ETFs. Of that figure, the vast majority went to the iShares Bitcoin Trust. This trend will support this investment vehicle's position at the top of the industry.
Higher assets under management (AUM) translate to more liquidity, which results in tighter trading spreads. For example, the iShares Bitcoin Trust saw trading volume of more than 42 million shares on Aug. 31, equal to $1.9 billion. This can be extremely valuable to certain market participants.
Long-term investors who have no interest in moving in and out of positions and who adopt a buy-and-hold strategy will also appreciate the iShares Bitcoin Trust's scale. It makes sense that ETFs with much smaller AUMs face a greater risk of closure, as capital outflows can have a more pronounced negative impact on the investment manager's ability to keep operating. In a worst-case scenario, your position in these kinds of ETFs can be sold off at unfavorable times.
With the iShares Bitcoin Trust, this isn't a concern. As mentioned, its net asset base sits at $61.4 billion. After the Bitcoin treasury company Strategy, with about $65 billion in the crypto, this is the largest Bitcoin holder in the world. That scale and liquidity also mean that this ETF tightly tracks the price of Bitcoin.
The 0.25% expense ratio is compelling
When looking at ETFs to buy, one of the most important variables to look at is the cost. The iShares Bitcoin Trust carries an expense ratio of 0.25%. Let's say you invest $10,000. During the first year, roughly $25 goes to BlackRock, which is the huge asset manager that offers this ETF. This money goes toward covering the firm's operating expenses.
It's worth noting that the iShares Bitcoin Trust is not the cheapest option. For instance, the Morgan Stanley Bitcoin Trust is cheaper, with an expense ratio of 0.14%. Among the U.S. spot Bitcoin ETFs, the iShares Bitcoin Trust is one of the more expensive ones.
This isn't necessarily a bad thing. What you pay for is the certainty of owning an ETF sponsored by a reputable asset management company, such as BlackRock. In total, it has $15.3 trillion in AUM across its different products.
This makes it a favorite among institutional investors. The iShares Bitcoin Trust has a prominent ownership base. JPMorgan Chase, Mubadala Investment Company, and Brevan Howard Capital Management make up some of the top holders. You can bet that these well-known firms have done their homework and have come to the conclusion that this ETF is the best choice.
Individual investors looking to gain immediate Bitcoin exposure might want to consider adopting a similar stance.
Should you buy stock in iShares Bitcoin Trust right now?
Before you buy stock in iShares Bitcoin Trust, consider this:
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JPMorgan Chase is an advertising partner of Motley Fool Money. Neil Patel has positions in Strategy and iShares Bitcoin Trust. The Motley Fool has positions in and recommends Bitcoin, BlackRock, JPMorgan Chase, and iShares Bitcoin Trust. The Motley Fool has a disclosure policy.

I Think iShares Bitcoin Trust (IBIT) Is the Best Bitcoin ETF to Buy Right Now

The S&P 500 Index ($SPX) (SPY) closed down by -0.71% on Tuesday, the Dow Jones Industrial Average ($DOWI) (DIA) closed down by -0.79%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down by -1.29%. E-mini S&P futures (ESU26) fell -0.71%, and September E-mini Nasdaq futures (NQU26) fell -1.25%.
Stock indices retreated on Tuesday, with the S&P 500 falling to a 4-week low, the Dow Jones Industrials sliding to a 1-month low, and the Nasdaq 100 posting a 1-week low. Stocks fell as surging oil prices boosted inflation expectations and bond yields and ramped up expectations that global central banks will keep raising interest rates. Investors are demanding higher yields to hold bonds as concerns intensify over persistent inflation, government spending, and surging corporate borrowing to finance the AI buildout. The higher bond yields sparked a retreat in chipmakers and AI-infrastructure stocks on Tuesday.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Tuesday’s global bond sell-off pushed bond yields to multi-year highs and undercut stocks. The UK 10-year Gilt yield soared to an 18-year high of 5.25%, the German 10-year Bund yield jumped to a 15-year high of 3.36%, the Japanese 10-year JGB bond yield surged to a 30-year high of 3.00%, and the 10-year T-note yield rose to a 1.75-year high of 4.80%.
Stocks maintained their losses on Tuesday amid weaker-than-expected US economic news, including Aug ISM manufacturing, July construction spending, and July JOLTS job openings.
The US Aug ISM manufacturing index fell -1.0 to 54.6, weaker than expectations of 55.2. The Aug ISM prices paid sub-index was unchanged at 71.1, stronger than expectations of a decline to 70.8.
US July construction spending fell by -0.5% m/m, weaker than expectations of no change.
The US July JOLTS job openings unexpectedly rose +89,000 to 7.271 million from a downward-revised 7.182 million in June, weaker than expectations of 7.313 million.
Hawkish comments on Tuesday from Fed Governor Michael Barr were bearish for stocks and bonds when he said, "If inflation appears not to be moderating sufficiently, then I think we should act decisively to raise interest rates."
Oct WTI crude oil prices (CLV26) surged more than +5% on Tuesday to a 6-week high as Middle East hostilities escalated. Late Monday, two oil supertankers were struck by projectiles while attempting to exit the Strait of Hormuz. Also on Monday, the US struck Iranian rocket launchers preparing to send mines into the Strait of Hormuz, and Iran retaliated by firing missiles and drones at US air bases in Jordan, while the United Arab Emirates said it intercepted drones from Iran.
Crude prices raced to their highs Tuesday afternoon when the US launched a fresh wave of strikes against targets in Iran in retaliation for Iran trying to put mines in the Strait of Hormuz and for earlier strikes on a US military base in Jordan. Iran said it retaliated with a “decisive operation” against US bases in the Middle East.
Q2 earnings results are a bullish factor for stocks. The S&P 500 is tracking for earnings growth of almost 32% in Q2, well above projections of +23%, and nearly four times the average earnings growth rate outside of the Covid period since Q4 of 2013, according to Bloomberg Intelligence. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 86% of the 487 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
The markets are discounting a 69% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets settled lower on Tuesday. The Euro Stoxx 50 fell to a 1-month low and closed down -0.80%. China's Shanghai Composite fell from a 7-week high and closed down -0.16%. Japan's Nikkei-225 Stock Average closed down -0.15%.
Interest Rates
December 10-year T-notes (ZNZ6) closed down by -9 ticks on Tuesday. The 10-year T-note yield rose +4.2 bp to 4.792%. T-notes dropped to a 1.75-year nearest-futures low on Tuesday, and the 10-year T-note yield rose to a 1.75-year high of 4.798%. T-notes were under pressure from Tuesday’s +5% surge in WTI crude oil prices to a 6-week high, which boosted inflation expectations and is hawkish for Fed policy. The 10-year breakeven inflation rate rose to a 1.5-week high of 2.360% on Tuesday. T-notes are also being pressured by negative carryover from last Friday, when hawkish comments from Fed Chair Warsh pushed the chances of a Fed rate hike at next month’s FOMC meeting up to 69% on Tuesday from 36% before he spoke.
Losses in T-notes were limited on Tuesday amid weaker-than-expected US economic news on Aug ISM manufacturing, July construction spending, and July JOLTS job openings that sparked some short covering in T-notes.
European government bond yields moved higher on Tuesday. The 10-year German bund yield rose to a 15-year high of 3.364% and finished up +2.0 bp to 3.344%. The 10-year UK gilt yield surged to an 18-year high of 5.250% and finished up +15.7 bp to 5.220%.
The Eurozone Aug CPI rose +3.3% y/y, in line with expectations and the largest increase in nearly 3 years. Aug core CPI rose +2.4% y/y, weaker than expectations of +2.5% y/y.
The Eurozone July unemployment rate was unchanged at 6.4%, showing a slightly weaker labor market than expectations of 6.3%.
The Eurozone Aug S&P manufacturing PMI was revised downward by -0.1 to 52.7 from the previously reported 52.8.
German July retail sales unexpectedly fell by -3.4% m/m, weaker than expectations of +0.5% m/m and the biggest decline in 5 years.
ECB Governing Council member Martin Kocher said, "Upside risks to inflation have increased again recently. If this picture is confirmed in the ECB's new forecast, I believe another interest rate hike will be necessary in the near future."
The UK Aug S&P manufacturing PMI was revised upward by +0.2 to 51.7 from the previously reported 51.5.
Markets are discounting a 99% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
Chipmakers and AI-infrastructure stocks retreated on Tuesday amid the surge in bond yields. Lam Research (LRCX), Applied Materials (AMAT), KLA Corp (KLAC), ARM Holdings Plc (ARM), and Texas Instruments (TXN) closed down more than -3%. Also, Advanced Micro Devices (AMD), Microchip Technology (MCHP), ASML Holding NV (ASML), Micron Technology (MU), Analog Devices (ADI), and Qualcomm (QCOM) closed down more than -2%.
Cybersecurity stocks sold off on Tuesday, weighing on the broader market. CrowdStrike Holdings (CRWD) closed down more than -7%, and Cloudflare (NET) and SentinelOne (S) closed down more than -6%. Also, Palo Alto Networks (PANW), Fortinet (FTNT), and Zscaler (ZS) closed down more than -5%, and Okta (OKTA) closed down more than +4%.
Cryptocurrency stocks moved lower on Tuesday after Bitcoin (^BTCUSD) fell more than -2%. Circle Internet Group (CRCL), Strategy (MSTR), Riot Platforms (RIOT), and Coinbase Global (COIN) closed down more than -6%. Also, MARA Holdings (MARA) and Galaxy Digital Holdings (GLXY) closed down more than -4%.
Mining stocks fell on Tuesday as gold, silver, and copper prices slumped. Freeport-McMoRan (FCX) closed down more than -4%, and Hecla Mining (HL), Anglogold Ashanti (AU), Barrick Mining (B), and Southern Copper (SCCO) closed down more than -3%. Also, Coeur Mining (CDE) and Newmont Corp (NEM) closed down more than -2%.
Home builders and home supplies fell on Tuesday after the 10-year T-note yield rose to a 1.75-year high, raising mortgage rates and weighing on housing demand. Builders Firstsource (BLDR) closed down more than -5%, and DR Horton (DHI), Pulte Group (PHM), KB Home (KBH), Toll Brothers (TOL), and Home Depot (HD) closed down more than -2%. Also, Lennar (LEN) closed down more than -1%.
Defensive health insurance stocks moved higher on Tuesday, with the slump in the broader market. Humana (HUM) and CVS Health Corp (CVS) closed up more than +3%, and Elevance Health (ELV), Cardinal Health (CAH), the Cigna Group (CI), and Molina Healthcare (MOH) closed up more than +2%. Also, UnitedHealth Group (UNH) and Centene (CNC) closed up more than +1%.
Fervo Energy (FRVO) closed up more than +28% on a Wall Street Journal report that said the company has signed a deal to sell power to Alphabet’s Google.
Duolingo (DUOL) closed up more than +7% after Evercore ISI upgraded the stock to outperform from in line with a price target of $210.
Howmet Aerospace (HWM) closed up more than +4% after Citigroup said Monday’s selloff in the stock was “overblown,” and maintains its buy rating on the stock.
Earnings Reports (9/2/2026)
Broadcom Inc (AVGO), Brown-Forman Corp (BF/B), Five Below Inc (FIVE), Hewlett Packard Enterprise Co (HPE), NetApp Inc (NTAP), Ollie's Bargain Outlet Holding (OLLI), PVH Corp (PVH), Snowflake Inc (SNOW).
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.

Stocks Settle Lower as Bond Yields Surge

The S&P 500 Index ($SPX) (SPY) is down by -0.44% today, the Dow Jones Industrial Average ($DOWI) (DIA) is down by -0.34%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down by -0.96%. E-mini S&P futures (ESU26) are down -0.46%, and September E-mini Nasdaq futures (NQU26) are down -0.98%.
Stock indices are trading lower today, with the S&P 500 falling to a 4-week low and the Dow Jones Industrials and the Nasdaq 100 posting 1-week lows. Stocks are sliding as rising oil prices boost inflation expectations and ramp up expectations that global central banks will keep raising interest rates. Investors are demanding higher yields to hold bonds as concerns intensify about persistent inflation, government spending, and surging corporate borrowing to finance the AI buildout. The higher bond yields have sparked a retreat in chipmakers and AI-infrastructure stocks today.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Today’s global bond sell-off has pushed bond yields to multi-year highs and is undercutting stocks. The UK 10-year Gilt yield soared to an 18-year high of 5.25%, the German 10-year Bund yield jumped to a 15-year high of 3.36%, the Japanese 10-year JGB bond yield surged to a 30-year high of 3.00%, and the 10-year T-note yield rose to a 1.75-year high of 4.80%.
Stocks maintained their losses today on weaker-than-expected US economic news, including Aug ISM manufacturing, July construction spending, and July JOLTS job openings.
The US Aug ISM manufacturing index fell -1.0 to 54.6, weaker than expectations of 55.2. The Aug ISM prices paid sub-index was unchanged at 71.1, stronger than expectations of a decline to 70.8.
US July construction spending fell -0.5% m/m, weaker than expectations of no change.
The US July JOLTS job openings unexpectedly rose +89,000 to 7.271 million from a downward revised 7.182 million in June, weaker than expectations of 7.313 million.
Hawkish comments today from Fed Governor Michael Barr were bearish for stocks and bonds when he said, "If inflation appears not to be moderating sufficiently, then I think we should act decisively to raise interest rates."
Oct WTI crude oil prices (CLV26) are up more than +2% today to a 6-week high as Middle East hostilities escalate. Late Monday, two oil supertankers were struck by projectiles while attempting to exit the Strait of Hormuz. Also on Monday, the US struck Iranian rocket launchers preparing to send mines into the Strait of Hormuz, and Iran retaliated by firing missiles and drones at US air bases in Jordan, while the United Arab Emirates said it intercepted drones from Iran. Axios reported that President Trump is weighing limited strikes against Iran to prevent it from reconstituting its radar and missile capabilities to attack ships in the Strait of Hormuz.
Q2 earnings results are a bullish factor for stocks. The S&P 500 is tracking for earnings growth of almost 32% in Q2, well above projections of +23%, and nearly four times the average earnings growth rate outside of the Covid period since Q4 of 2013, according to Bloomberg Intelligence. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 86% of the 486 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
The markets are discounting a 65% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets are lower today. The Euro Stoxx 50 fell to a 1-month low and is down -0.73%. China's Shanghai Composite fell from a 7-week high and closed down -0.16%. Japan's Nikkei-225 Stock Average closed down -0.15%.
Interest Rates
December 10-year T-notes (ZNZ6) are down -4 ticks today. The 10-year T-note yield is up +1.2 bp to 4.762%. T-notes dropped to a 1.75-year nearest-futures low today, and the 10-year T-note yield rose to a 1.75-year high of 4.796%. T-notes are under pressure from today’s +2% jump in WTI crude oil prices to a 6-week high, which boosts inflation expectations and is hawkish for Fed policy. T-notes are also being pressured by negative carryover from last Friday, when hawkish comments from Fed Chair Warsh pushed the chances of a Fed rate hike at next month’s FOMC meeting up to 65% today from 36% before he spoke.
T-notes recovered from their worst level today after weaker-than-expected US economic news on Aug ISM manufacturing, July construction spending, and July JOLTS job openings sparked short covering in T-notes.
European government bond yields are moving higher today. The 10-year German bund yield rose to a 15-year high of 3.364% and is up +0.8 bp to 3.332%. The 10-year UK gilt yield surged to an 18-year high of 5.250% and is up +13.6 bp to 5.199%.
The Eurozone Aug CPI rose +3.3% y/y, in line with expectations and the largest increase in nearly 3 years. Aug core CPI rose +2.4% y/y, weaker than expectations of +2.5% y/y.
The Eurozone July unemployment rate was unchanged at 6.4%, showing a slightly weaker labor market than expectations of 6.3%.
The Eurozone Aug S&P manufacturing PMI was revised downward by -0.1 to 52.7 from the previously reported 52.8.
German July retail sales unexpectedly fell by -3.4% m/m, weaker than expectations of +0.5% m/m and the biggest decline in 5 years.
ECB Governing Council member Martin Kocher said, "Upside risks to inflation have increased again recently. If this picture is confirmed in the ECB's new forecast, I believe another interest rate hike will be necessary in the near future."
The UK Aug S&P manufacturing PMI was revised upward by +0.2 to 51.7 from the previously reported 51.5.
Markets are discounting a 98% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
Chipmakers and AI-infrastructure stocks are retreating today amid the surge in bond yields. Qualcomm (QCOM), Lam Research (LRCX), Advanced Micro Devices (AMD), and KLA Corp (KLAC) are down more than -3%, and Applied Materials (AMAT), Analog Devices (ADI), Microchip Technology (MCHP), Marvel Technology (MRVL), ASML Holding NV (ASML), and Texas Instruments (TXN) are down more than -2%.
Cybersecurity stocks are weaker today, weighing on the broader market. CrowdStrike Holdings (CRWD) is down more than -6% to lead losers in the S&P 500 and the Nasdaq 100. Also, Palo Alto Networks (PANW) and SentinelOne (S) are down more than -5%, and Okta (OKTA), Fortinet (FTNT), and Zscaler (ZS) are down more than -4%, and Cloudflare (NET) is down more than +3%.
Cryptocurrency stocks are sliding today, with Bitcoin (^BTCUSD) down nearly -1%. Riot Platforms (RIOT) is down more than -5%, and Circle Internet Group (CRCL) and MARA Holdings (MARA) are down more than -3%. Also, Coinbase Global (COIN), Galaxy Digital Holdings (GLXY), Strategy (MSTR), and Iren Ltd (IREN) are down more than -2%.
Defensive health insurance stocks are climbing today, with the slump in the broader market. Humana (HUM) and CVS Health Corp (CVS) are up more than +3%, and Elevance Health (ELV), Centene (CNC), Cardinal Health (CAH), the Cigna Group (CI), and Molina Healthcare (MOH) are up more than +2%. Also, UnitedHealth Group (UNH) and Universal Health Services (UHS) are up more than +1%.
Amazon.com (AMZN) is down more than -2% to lead losers in the Dow Jones Industrials after the US Federal Trade Commission and a group of US states sued the company over claims it overcharged advertisers by more than $20 billion since 2019.
Fervo Energy (FRVO) is up more than +23% on a Wall Street Journal report that said the company has signed a deal to sell power to Alphabet’s Google.
Duolingo (DUOL) is up more than +5% after Evercore ISI upgraded the stock to outperform from in line with a price target of $210.
Howmet Aerospace (HWM) is up more than +3% to lead gainers in the S&P 500 after Citigroup said Monday’s selloff in the stock was “overblown,” and maintains its buy rating on the stock.
Earnings Reports (9/1/2026)
Credo Technology Group Holding (CRDO), Dell Technologies Inc (DELL), Gitlab Inc (GTLB), Medtronic PLC (MDT), MongoDB Inc (MDB), Palo Alto Networks Inc (PANW).
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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Global Bond Selloff Weighs on Stocks

The S&P 500 Index ($SPX) (SPY) is down by -0.66% today, the Dow Jones Industrial Average ($DOWI) (DIA) is down by -0.43%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down by -1.30%. E-mini S&P futures (ESU26) are down -0.66%, and September E-mini Nasdaq futures (NQU26) are down -1.26%.
Stock indices are trading lower today, with the S&P 500 falling to a 4-week low and the Dow Jones Industrials and the Nasdaq 100 posting 1-week lows. Stocks are sliding as rising oil prices boost inflation expectations and ramp up expectations that global central banks will keep raising interest rates. Investors are demanding higher yields to hold bonds as concerns intensify about persistent inflation, government spending, and surging corporate borrowing to finance the AI buildout. The higher bond yields have sparked a retreat in chipmakers and AI-infrastructure stocks today.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Today’s global bond sell-off has pushed bond yields to multi-year highs and is undercutting stocks. The UK 10-year Gilt yield soared to an 18-year high of 5.25%, the German 10-year Bund yield jumped to a 15-year high of 3.36%, the Japanese 10-year JGB bond yield surged to a 30-year high of 3.00%, and the 10-year T-note yield rose to a 1.75-year high of 4.80%.
Oct WTI crude oil prices (CLV26) are up more than +2% today to a 6-week high as Middle East hostilities escalate. Late Monday, two oil supertankers were struck by projectiles while attempting to exit the Strait of Hormuz. Also on Monday, the US struck Iranian rocket launchers preparing to send mines into the Strait of Hormuz, and Iran retaliated by firing missiles and drones at US air bases in Jordan, while the United Arab Emirates said it intercepted drones from Iran. Axios reported that President Trump is weighing limited strikes against Iran to prevent it from reconstituting its radar and missile capabilities to attack ships in the Strait of Hormuz.
Q2 earnings results are a bullish factor for stocks. The S&P 500 is tracking for earnings growth of almost 32% in Q2, well above projections of +23%, and nearly four times the average earnings growth rate outside of the Covid period since Q4 of 2013, according to Bloomberg Intelligence. AI spending is expected to account for most of earnings, with AI infrastructure stocks set to contribute nearly 60% of the S&P 500's earnings-per-share growth in Q2. So far, earnings results have been positive, with 86% of the 486 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.
The markets are discounting a 65% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets are lower today. The Euro Stoxx 50 fell to a 1-month low and is down -0.61%. China's Shanghai Composite fell from a 7-week high and closed down -0.16%. Japan's Nikkei-225 Stock Average closed down -0.15%.
Interest Rates
December 10-year T-notes (ZNZ6) are down -7 ticks today. The 10-year T-note yield is up +3.2 bp to 4.782%. T-notes dropped to a 1.75-year nearest-futures low today, and the 10-year T-note yield rose to a 1.75-year high of 4.796%. T-notes are under pressure from today’s +2% jump in WTI crude oil prices to a 6-week high, which boosts inflation expectations and is hawkish for Fed policy. T-notes are also being pressured by negative carryover from last Friday, when hawkish comments from Fed Chair Warsh pushed the chances of a Fed rate hike at next month’s FOMC meeting up to 65% today from 36% before he spoke.
European government bond yields are moving higher today. The 10-year German bund yield rose to a 15-year high of 3.364% and is up +1.7 bp to 3.341%. The 10-year UK gilt yield surged to an 18-year high of 5.250% and is up +15.4 bp to 5.217%.
The Eurozone Aug CPI rose +3.3% y/y, in line with expectations and the largest increase in nearly 3 years. Aug core CPI rose +2.4% y/y, weaker than expectations of +2.5% y/y.
The Eurozone July unemployment rate was unchanged at 6.4%, showing a slightly weaker labor market than expectations of 6.3%.
The Eurozone Aug S&P manufacturing PMI was revised downward by -0.1 to 52.7 from the previously reported 52.8.
German July retail sales unexpectedly fell by -3.4% m/m, weaker than expectations of +0.5% m/m and the biggest decline in 5 years.
ECB Governing Council member Martin Kocher said, "Upside risks to inflation have increased again recently. If this picture is confirmed in the ECB's new forecast, I believe another interest rate hike will be necessary in the near future."
The UK Aug S&P manufacturing PMI was revised upward by +0.2 to 51.7 from the previously reported 51.5.
Markets are discounting a 98% chance of a +25 bp ECB rate hike at its next policy meeting on September 10.
US Stock Movers
Chipmakers and AI-infrastructure stocks are retreating today amid the surge in bond yields. Qualcomm (QCOM) is down more than -4%, and Marvel Technology (MRVL) and Intel (INTC) are down more than -3%. Also, Advanced Micro Devices (AMD), Applied Materials (AMAT), Analog Devices (ADI), Lam Research (LRCX), Microchip Technology (MCHP), NXP Semiconductors (NXPI), Broadcom (AVGO), KLA Corp (KLAC), Micron Technology (MU), and Texas Instruments (TXN) are down more than -2%. In addition, Nvidia (NVDA) is down more than -2% to lead losers in the Dow Jones Industrials.
Mining stocks are falling today, with the slump in gold, silver, and copper prices. Hecla Mining (HL) is down more than -4%, and Coeur Mining (CDE) is down more than -3%. Also, Newmont Corp (NEM), Anglogold Ashanti (AU), Barrick Mining (B), and Freeport-McMoRan (FCX) are down more than -2%, and Southern Copper (SCCO) is down more than -1%.
Cryptocurrency stocks are sliding today, with Bitcoin (^BTCUSD) down more than -1%. Circle Internet Group (CRCL) is down more than -69%, and Coinbase Global (COIN), Galaxy Digital Holdings (GLXY), Strategy (MSTR), Iren Ltd (IREN), MARA Holdings (MARA), and Riot Platforms (RIOT) are down more than -5%.
Cybersecurity stocks are weaker today, weighing on the broader market. Palo Alto Networks (PANW), SentinelOne (S), and Zscaler (ZS) are down more than -3%, and , CrowdStrike Holdings (CRWD) and Cloudflare (NET) are down more than +2%. Also, Okta (OKTA) and Fortinet (FTNT) are down more than -1%.
Defensive health insurance stocks are climbing today, with the slump in the broader market. Elevance Health (ELV), Centene (CNC), Humana (HUM), Cardinal Health (CAH), and CVS Health Corp (CVS) are up more than +2%. Also, UnitedHealth Group (UNH), the Cigna Group (CI), and Molina Healthcare (MOH) are up more than +1%.
Fervo Energy (FRVO) is up more than +10% on a Wall Street Journal report that said the company has signed a deal to sell power to Alphabet’s Google.
Duolingo (DUOL) is up more than +6% after Evercore ISI upgraded the stock to outperform from in line with a price target of $210.
Howmet Aerospace (HWM) is up more than +3% to lead gainers in the S&P 500 after Citigroup said Monday’s selloff in the stock was “overblown,” and maintains its buy rating on the stock.
Medtronic Plc (MDT) is up more than +2% after reporting Q1 revenue of $9.76 billion, stronger than the consensus of $9.54 billion, and raising its 2027 organic revenue forecast to +7.25% to +7.75% from a previous forecast of +6.75% to +7.25%.
Earnings Reports (9/1/2026)
Credo Technology Group Holding (CRDO), Dell Technologies Inc (DELL), Gitlab Inc (GTLB), Medtronic PLC (MDT), MongoDB Inc (MDB), Palo Alto Networks Inc (PANW).
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.
More news from Barchart