Fed’s Jackson Hole conference could mean fireworks this week

Tuesday, August 19, 2025

While the Nasdaq, S&P 500, and Russell 2000 are sagging today — down 0.98%, 0.31%, and 0.29% respectively — the Dow is going its own way.

The price-weighted index notched an intraday record of 45,207.39, buoyed by better-than-expected earnings from Home Depot (+3.3%). The home-improvement chain jumped after sticking to its annual sales outlook and promising investors it will raise prices. That's a reversal from last quarter, when the chain said "broad-based price increases" weren't in the cards.

Tuesday Reading

• Kraft Heinz quietly finds rare growth in unexpected category
• ServiceNow stock hits a wall amid AI boom, 'frustrates' veteran trader
• Nvidia earnings face high bar on data-center demand, China deal
• Cathie Wood drops $21.6 million on biotech stock
• Goldman Sachs warns of more labor weakness coming soon
• Amazon returns just got a whole lot easier
• Latest car industry trend is great news for new-car buyers

In addition, higher-than-expected housing starts helped boost the fortunes of similarly situated companies like paints giant Sherwin Williams (+2.3%) and heavy-equipment stalwart Caterpillar (+1.5%), also Dow components. In fact, together, the three led Dow members on Tuesday morning. If the index was defined by these three members, it might well have been on track for its first record close this year.

But with Boeing (-2.7%), UnitedHealth (-2.2%) and Nvidia (-2%) all registering declines, the index has pulled back a bit. It's barely above break-even at last check, meaning investors might have to wait before they celebrate the Dow joining the record rally. Its record close? 45,014.04 on Dec. 4, 2024.

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-- Noah Weidner, markets reporter

Fed’s Jackson Hole conference could mean fireworks this week

Unlike previous years, 2025 Jackson Hole conference participants face multiple challenges.

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