Markets Pause, FOMC Minutes Up Next 08/10/2025

HOT stories for today

US market wrap:

• Markets slid on Tuesday, and not even Tesla’s new models could jolt tech stocks higher. Gold broke above $4,000 for the first time as investors sought safety beyond U.S. equities. Bridgewater founder Ray Dalio urged buying gold, comparing today’s setup to the inflation-fueled, big-spending 1970s. Bitcoin retreated from record highs, dragging crypto firms lower. The government shutdown froze official jobs data, but Carlyle estimated just 17,000 new hires, the weakest month in five years, excluding March’s 13k. Still, Goldman Sachs reported that hiring rose by 80,000 in September.
• Fed Governor Stephen Miran, Trump’s recent pick, said he’s unfazed by the economy and supports repeated 50-basis-point cuts. Minneapolis Fed President Neel Kashkari disagreed, warning that aggressive easing could reignite inflation. All eyes now turn to today’s FOMC meeting minutes. Let’s see what they bring.

Tesla cuts prices, Investors unimpressed

• Tesla rolled out cheaper “standard” versions of its Model 3 and Model Y to boost demand as U.S. EV tax credits expire, but investors weren’t sold. Shares fell 4.5% Tuesday after the announcement. CFRA analyst Garrett Nelson called the move “a big disappointment,” saying investors wanted new models like the long-delayed Roadster. The new trims start at $36,990 for the Model 3 and $39,990 for the Model Y, aimed at offsetting the loss of federal incentives worth up to $7,500.
• AutoForecast’s Sam Fiorani said the pricing “fills the gap” for midrange buyers and keeps factories busy. Still, the cheaper versions trim performance, and Tesla’s stale lineup,  with no significant new models beyond the pricey Cybertruck, continues to weigh on its market share.

Stocks on the move:

• Oracle (ORCL): Shares dropped more than 5%, dragging tech stocks lower after The Information reported that the company’s cloud margins are weaker than analysts expect and that it is losing money on some Nvidia chip deals.
• Figma: The design software firm climbed about 7%, adding to Monday’s 7% rally, after OpenAI CEO Sam Altman announced Figma’s integration into ChatGPT, allowing users to run Figma tasks directly in conversations.
• Dell Technologies (DELL): The PC maker’s stock fluctuated after raising its full-year forecast. Dell now expects annual revenue growth of 7%–9%, up from 3%–4%, and projects at least 15% year-over-year earnings growth. Shares initially rose more than 6% before returning to flat.
• Ford (F): Shares tumbled over 7% after news that a fire at a key supplier will disrupt production for months. The affected New York facility, operated by Novelis, supplies aluminum sheets crucial to Ford’s manufacturing.

Watchlist: ORCL, NVDA, DELL, COIN, AMD, RBLX, AAPL

Today’s action

• U.S. stock futures were mostly flat Tuesday night after the S&P 500’s seven-day rally came to a halt, dragged down by Oracle’s sharp drop that reignited doubts about the durability of the AI trade. Meanwhile, the government shutdown entered its second week, adding a layer of uncertainty. Dow Jones Industrial Average futures edged up 7 points, or 0.02%, while S&P 500 and Nasdaq 100 futures inched higher by 0.04% and 0.07%, respectively.
• The shutdown, now in its seventh day, has had little impact on equities so far but could sour sentiment the longer it continues. Investors are also eyeing Wednesday’s release of the Federal Reserve’s meeting minutes for clues on the central bank’s next moves after a contentious September gathering.

Bitcoin

• Bitcoin (BTC $121,783) climbed to a record high of $126,200 on Monday, capping one of its strongest weeks ever. The rally followed record inflows of $5.67 billion into global crypto exchange-traded products (ETPs), signaling renewed conviction in digital assets. 
• The move reflects a resurgence of the “debasement trade,” as investors hedge against fiscal and geopolitical risks. Institutional money continues to lead the charge, while retail participation remains subdued.
  Watchlist: Bitcoin: 98 000-126 500, Ethereum: 4000-4980, Solana: 180-240
   

Forex

• The euro weakened to around 1.1705 in Tuesday’s Asian session as France’s Prime Minister resigned just hours after naming a new cabinet, triggering fresh political uncertainty. Meanwhile, expectations for U.S. Fed rate cuts in October and December added to downside pressure on the dollar pair.
• The Japanese yen extended losses as markets bet that Takaichi’s policy stance could delay future BoJ rate hikes. A record-setting equity rally also dampened demand for the safe-haven currency. However, expectations for a Fed rate cut and the ongoing U.S. government shutdown limited the broader upside for USD/JPY.
  Watchlist: EUR/USD: 1.0700-1.1880, USD/JPY: 140-151

Basic Materials
 

• WTI crude inched higher toward $62.00 in Wednesday’s Asian session after the API reported a 2.78 million barrel inventory build. Gains remain capped by concerns over weak demand tied to the ongoing U.S. government shutdown.
• Gold (XAU/USD) extended its record-breaking rally above $4,000, driven by safe-haven flows, expectations of Fed rate cuts, and geopolitical uncertainty. Traders now await Wednesday’s FOMC minutes, with the shutdown delaying key data, such as Nonfarm Payrolls, and clouding the Fed’s outlook.
  Watchlist: GOLD: 2600-4050, US Oil: 55.60-75.80

Key Economic Events Today:

EST time

09:30 am: USD FOMC Member Barr Speaks
10:00 am: USD FOMC Member Goolsbee Speaks
10:30 am: USD Crude Oil Inventories
02:00 pm: USD FOMC Meeting Minutes


Earnings

BMO (Before Market Open):
-
AMC (After Market Close): AZZ, RGP, RELL



The TEFS Analyst team wishes you a successful day!