As Friday’s trading session looms, investors are keenly focused on key market-moving events, including a highly anticipated speech from Federal Reserve Chairman Kevin Warsh. Amid a backdrop of fluctuating index performances and bond yields, the tech sector is seeing significant action with cybersecurity giant CrowdStrike soaring post-earnings, while Apple prepares for a major CEO transition. Additionally, Gap’s shares surged after its latest quarterly report, setting the stage for a dynamic day on Wall Street.
Get ready for a deep dive into tomorrow's market drivers with "Stocks @ Night," a daily newsletter providing a crucial first look at the upcoming session and a recap of the day's close. You can sign up for free to receive this indispensable market intelligence directly in your inbox. Here’s an exclusive look at what CNBC TV’s producers are tracking following the Nasdaq Composite's best session since August 4th, and what’s poised to command attention in the next trading day.
The Federal Reserve in Focus: Kevin Warsh's Pivotal Speech
All eyes will be on Jackson Hole, Wyoming, as Federal Reserve Chairman Kevin Warsh prepares to deliver his much-anticipated speech at 10 a.m. ET. CNBC will kick off its comprehensive coverage early, starting at 5 a.m. on "Morning Call," continuing through "Squawk Box," and concluding with "Squawk on the Street." CNBC’s economics reporter Steve Liesman is on location, ready to provide full, real-time updates. Every segment of the stock market will be hanging on Warsh's words, seeking clarity and direction for future economic policies.
Market Indexes: A Mixed Picture Going into Friday
Heading into this pivotal day, the major indexes present a varied landscape. The S&P 500 is currently down 1.1% from its early-month high but has seen a robust 12.9% gain year-to-date in 2026. The Nasdaq Composite, up 14.2% year-to-date, is off 1.8% from its June peak. The Nasdaq 100 leads the pack with a 17.4% rise in 2026 but is down 3.6% from its June 3rd high. Small-cap investors will note the Russell 2000’s impressive 21.5% surge in 2026, despite being 1.8% off its high reached this month. Meanwhile, the NYSE Composite has climbed 12% year-to-date and is less than 1% shy of last week’s high point.
The Bond Market Landscape
As Thursday night concluded, the bond market displayed these key yields: the 30-year Treasury bond stood at 5.193%, the 10-year Treasury note at 4.676%, the 2-year Treasury yield at 4.234%, and the 3-month Treasury bill yield at 3.776%. In the high-yield corporate bond space, the iShares iBoxx High Yield Corporate Bond ETF (HYG) offered a dividend of 5.87%, the State Street SPDR Bloomberg High Yield Bond ETF (JNK) delivered 6.59%, and the iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) paid 6.98%. The Fidelity Corporate Bond ETF (FCOR) had a dividend yield of 4.65%.
Cybersecurity Stocks: CrowdStrike Soars, SentinelOne Dips
The cybersecurity sector witnessed dynamic movements. CrowdStrike shares surged an impressive 20.5% on Thursday, propelled by an optimistic earnings report released Wednesday. CrowdStrike CEO George Kurtz appeared on "Mad Money" with Jim Cramer, attributing the momentum to a crucial realization: "The realization has arrived that the AI offender is here. That's what's driving the momentum." In contrast, SentinelOne saw its stock fall approximately 4% in after-hours trading, as its guidance failed to meet high market expectations. The broader cybersecurity ETFs capitalized on the positive sentiment, with the Global X Cybersecurity ETF (BUG) climbing 10% and the Amplify Cybersecurity ETF (HACK) gaining 8%. Expect more in-depth coverage on cybersecurity stocks Friday starting at 5 a.m.
Apple Leadership Transition: Tim Cook Steps Down, John Ternus Takes Over
A significant leadership change is on the horizon for tech giant Apple. CNBC’s MacKenzie Sigalos will report on the transition, confirming that Tim Cook will be stepping down as CEO, with John Ternus set to take the helm, effective September 1st. Apple's stock is currently 8.7% off its July 29th high but has still delivered a solid 15.7% gain year-to-date. Cook’s tenure as CEO began in August 2011, during which the stock has seen an astonishing 2,240% increase.
Beef Prices and Gap's Post-Earnings Boost
Beyond tech, CNBC’s Pippa Stevens will delve into the rising costs in the beef business, providing insights into why prices are so high and how investors might navigate this trend. Meanwhile, retail giant Gap enjoyed a 15% surge in after-hours trading following a mixed quarterly report. The company also announced a new CEO for its Old Navy brand. Despite the recent gains, Gap’s shares remain approximately 30% off their February high.
