Wall Street Retreats as Dow Drops 224 Points, Nasdaq Rises on Tech Strength

📺 Why Smart Money Is Watching This Sugar ETF

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Stocks ended Thursday mixed as a post-earnings rally in DraftKings helped lift sentiment in pockets of the market, while the broader Dow Jones Industrial Average slid. The Dow fell 224.48 points, or 0.51%, to close at 43,966.6, leading losses among major indexes. The S&P 500 dipped 5.06 points, or 0.08%, finishing at 6,340.0, while the Nasdaq Composite climbed 73.27 points, or 0.35%, to settle at 21,242.7.

54.8% of stocks declined on the session, and 61% of intraday indicators were bearish, reflecting broad-based market weakness despite gains in large-cap technology. The Russell 2000, which tracks small-cap stocks, ended slightly lower at 219.91, down 0.65 points.

DraftKings Jumps After Beating Street Expectations

DraftKings (DKNG) posted a stronger-than-expected second-quarter earnings report but shares closed Thursday down 0.35% at 45.20. The company posted revenue of $1.51 billion, up 37% year-over-year, and a record adjusted EBITDA of $301 million, handily beating Wall Street estimates of $1.41 billion in revenue and $244 million in EBITDA.

Mizuho noted that “the bar was likely higher than official consensus due to anticipated hold-related upside,” but DraftKings still exceeded expectations. Management disclosed that favorable sports outcomes added $110 million to revenue, yet even excluding that, the company’s performance landed near the top end of its previous guidance of “above $200 million” for adjusted EBITDA.

Key operating metrics showed divergence. Monthly Unique Payers (MUPs) rose 6% year-over-year to 3.3 million, missing the 3.8 million consensus estimate. However, Average Revenue per MUP (ARPMUP) climbed 29% to $151, exceeding the $123 estimate. Excluding the Jackpocket acquisition, ARPMUP rose 30%, highlighting improved monetization largely due to higher sportsbook hold and reduced promotional spend.

Commodities Mixed: Oil Slips, Gold Rises

In commodity markets, crude oil futures for September delivery declined 96 cents, or 0.96%, to settle at $63.73 a barrel, according to Finviz. Meanwhile, gold futures for December rose $31.80, or 0.93%, to finish at $3,465.20, reflecting a modest risk-off tilt among investors.

Why sugar deserves your attention

The Teucrium Sugar ETF (CANE) is gaining attention as traders eye potential catalysts in the commodity space. Jake Hanley, Managing Director at Teucrium, noted that sugar prices may be “nearing the lower end of the range heading into the fall”. He pointed to speculation over Coca-Cola’s rumored shift back to cane sugar as a short-term sentiment driver, though he emphasized it wouldn’t reshape global supply. Hanley also warned that U.S. sugar tariffs “absolutely will have an impact,” especially if trade tensions escalate. CANE offers exposure to ICE No. 11 sugar futures, positioning investors for seasonal and structural moves.

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