U.S. Equities Down Slightly, Tech and Comm Services Outperform: Elastic Jumps 17% After Q2 Earnings Beat

US equity futures are down marginally, while WTI Crude Oil and precious metals remain bid. Communications Services and Tech led the S&P 500 to record highs, with Alphabet and Nvidia notching fresh record highs. Utilities and Staples were the worst performing sectors. Investors will watch for PCE inflation data and potential FOMC easing starting September 17th. Top movers include Ambarella, Petco Health and Wellness, and Elastic N.V., while Marvell Technology, Dell Technologies, and Gap are down after earnings.

US equity futures are down marginally, while WTI Crude Oil and precious metals remain bid. Communications Services and Tech led the S&P 500 to record highs, with Alphabet and Nvidia notching fresh record highs. Utilities and Staples were the worst performing sectors. Investors will watch for PCE inflation data and potential FOMC easing starting September 17th. Top movers include Ambarella, Petco Health and Wellness, and Elastic N.V., while Marvell Technology, Dell Technologies, and Gap are down after earnings.

Several key companies are expected to report earnings after hours on August 28, 2025. Marvell Technology (MRVL) is forecast to report an EPS of $0.51, a 325% YoY increase [1]. Autodesk (ADSK) is expected to report an EPS of $1.72, up 13.91% YoY [1]. Dell Technologies (DELL) is forecast to report an EPS of $2.09, up 23.67% YoY [1]. Ulta Beauty (ULTA) is expected to report an EPS of $5.03, down 5.09% YoY [1]. Affirm Holdings (AFRM) is set to report an EPS of $0.11, up 178.57% YoY [1]. Estee Lauder (EL), Gap (GAP), Sysco (SYY), Ambarella (AMBA), and Chewy (CHWY) are also expected to report earnings [2].

Marvell Technology's EPS forecast of $0.51 represents a significant increase from the previous year, suggesting strong growth in recent quarters. Investors will be closely watching for positive guidance on future growth [1]. Autodesk's EPS of $1.72, with a consensus rating of "Buy" and an average one-year price target of $342.5, indicates strong financial performance and revenue growth [1]. Dell Technologies' consistent growth in recent quarters makes investors eager for updates on strategic initiatives and market positioning [1]. Ulta Beauty's EPS of $5.03, despite a 5.09% YoY decrease, signals ongoing challenges that investors will be monitoring for signs of improvement [1]. Affirm Holdings' EPS of $0.11, up 178.57% YoY, highlights the company's significant growth in recent quarters [1].

Ambarella, Petco Health and Wellness, and Elastic N.V. are among the top movers, while Marvell Technology, Dell Technologies, and Gap are down after earnings. Investors will be closely watching these reports for insights into each company's financial performance and growth prospects.

References:
[1] https://www.nasdaq.com/articles/after-hours-earnings-report-august-28-2025-mrvl-adsk-dell-ulta-afrm-estc-gap-s-amba-woof
[2] https://www.ainvest.com/news/marvell-technology-autodesk-dell-ulta-beauty-affirm-holdings-estee-lauder-gap-simon-property-group-ambarella-petco-health-wellness-company-expected-report-earnings-hours-august-28-2025-2508/