Marvell's AI Concerns and Skechers' Privatization: Weekly Market Summary

The stock market experienced fluctuations this week, moving between new highs and risk aversion. Mega-cap tech and communication stocks led gains, while semiconductors faced challenges. NVIDIA had mixed results, and Marvell's disappointing earnings caused a significant decline. Retail and energy sectors showed mixed results, with Kohl's performing well. Economic data was steady, and Fed officials suggested possible rate cuts. Interest rates fluctuated, with the 2-year yield trading between 3.62%-3.73% and the 10-year between 4.21%-4.28%.

The stock market experienced fluctuations this week, moving between new highs and periods of risk aversion. Mega-cap tech and communication stocks led the gains, while semiconductors faced challenges. NVIDIA reported mixed results, and Marvell's disappointing earnings caused a significant decline. Retail and energy sectors showed mixed results, with Kohl's performing well. Economic data remained steady, and Fed officials hinted at possible rate cuts. Interest rates fluctuated, with the 2-year yield trading between 3.62% and 3.73% and the 10-year yield between 4.21% and 4.28%.

NVIDIA's second-quarter sales rose 55.6% to $46.74 billion, compared to $30.04 billion in the same quarter a year ago. The company raised its third-quarter guidance above analyst consensus estimates, which is positive. However, the stock did not rally significantly due to market makers collecting option premiums. The company's earnings did not produce "fireworks," and the stock remained relatively stable [1].

Marvell Technology's second-quarter earnings of 67 cents per share matched estimates, but revenues rose 3% quarter-over-quarter, missing guidance of mid-single-digit growth. The stock tumbled almost 14% in the premarket after the report. Bank of America downgraded the stock to neutral on lower confidence in its growth runway [3].

The second quarter earnings season has been mostly positive, with over 92% of S&P 500 companies reporting results. Analysts expected an 11% jump in earnings per share during the second quarter, despite lower expectations coming into the quarter [2].

Economic data was steady, with the Personal Consumption Expenditure (PCE) index rising 0.2% in July and 2.6% in the past 12 months. The PCE is the Fed's favorite inflation indicator. Fed officials have suggested possible rate cuts, with a key interest rate cut on September 17th likely if the August payroll report is poor [1].

Interest rates fluctuated, with the 2-year yield trading between 3.62% and 3.73% and the 10-year yield between 4.21% and 4.28%. The resurgence of the U.S. dollar is expected due to stronger GDP growth and superior demographics, which could offset price increases from tariffs [1].

References:
[1] https://www.investing.com/analysis/fed-rate-cut-still-on-track-no-fireworks-after-nvidia-earnings-200666152
[2] https://uk.finance.yahoo.com/news/earnings-live-pdd-holdings-stock-falls-after-hours-wolfspeed-gains-as-nvidias-earnings-countdown-begins-210418244.html
[3] https://www.cnbc.com/2025/08/29/10-things-to-watch-in-the-stock-market-friday-including-dell-and-marvell-earnings.html
[4] https://www.nasdaq.com/articles/marvell-technology-q2-earnings-match-estimates-revenues-rise-y-y