Key Takeaways
- U.S. stocks slid for a fifth consecutive day, and Treasury yields climbed to 4.33%, as robust factory data fueled doubts over near-term Federal Reserve rate cuts ahead of Jerome Powell’s Jackson Hole speech.
- Intuit (INTU) reported stronger-than-expected Q4 2025 earnings, with adjusted EPS of $2.75 and net revenue of $3.83 billion, while also providing an optimistic outlook for Q1 and FY2026.
- Canadian Prime Minister Mark Carney and U.S. President Trump held "productive" discussions on trade and a new economic and security pact, signaling potential advancements in bilateral relations.
- President Trump signed an executive order creating a Chief Design Officer role for the U.S. government, appointing Airbnb co-founder Joe Gebbia to lead efforts in overhauling government digital services.
U.S. stock markets experienced their fifth straight day of declines, as investors reacted to strong factory data that cast doubt on the likelihood of immediate Federal Reserve rate cuts. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all closed lower, reflecting growing market anxiety. Simultaneously, Treasury yields climbed, with the 10-year Treasury yield reaching 4.33% ahead of Federal Reserve Chair Jerome Powell’s highly anticipated speech at Jackson Hole. Market participants are now pricing in approximately a 70% chance of a September rate cut, a notable decrease from over 90% just last week, indicating a shift in expectations for monetary policy.
In corporate news, Intuit (INTU) delivered a strong performance for its fourth quarter of fiscal year 2025, surpassing analyst expectations. The financial software giant reported adjusted earnings per share (EPS) of $2.75, exceeding estimates of $2.66. Adjusted operating income reached $1.02 billion, outperforming the estimated $998.7 million, while net revenue came in at $3.83 billion, above the $3.75 billion consensus. Looking ahead, Intuit provided optimistic guidance for Q1 2026, forecasting adjusted EPS between $3.05 and $3.12 and revenue growth of +14% to +15%. For the full fiscal year 2026, the company projects adjusted EPS between $22.98 and $23.18 and adjusted operating income between $8.61 billion and $8.69 billion.
On the political front, Canadian Prime Minister Mark Carney and U.S. President Trump held a “productive” call regarding ongoing trade discussions and the potential for a new economic and security pact between the two nations. This development suggests a renewed focus on strengthening bilateral ties and addressing key economic and security challenges.
In a move aimed at modernizing government services, President Trump signed an executive order establishing a Chief Design Officer role for the U.S. government. Airbnb co-founder Joe Gebbia has been appointed to this newly created position. Gebbia is set to lead a new National Design Studio, housed within the White House, with the mandate to overhaul government websites, forms, and other public-facing digital interfaces.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.