Tonight’s Highlights | Weight-Loss Drug Stocks ‘Relay’ Crash, U.S. Home Improvement Retail Giant Disappoints

U.S. stocks continued to trade sideways with no clear direction ahead of Tuesday’s opening.

 

 

As of press time, Nasdaq 100 futures were down 0.24%, S&P 500 futures fell 0.10%, and Dow futures rose 0.23%. Since last Wednesday, the S&P 500’s daily movements have not exceeded 0.3%, reflecting cautious market sentiment.

 

Starting Tuesday pre-market, U.S. retailers will release earnings en masse, with home improvement giant Home Depot leading off.

 

For the three months ending August 3, Home Depot reported revenue of $45.28 billion and net profit of $4.55 billion—its first miss on both profit and revenue expectations since May 2014.

 

 

The good news is the company reaffirmed its full-year guidance, projecting total sales growth of about 2.8% and comparable-store sales up 1%.

 

Despite the earnings miss, Home Depot’s pre-market shares rose over 1%. Lowe’s and Target will report on Wednesday, while Walmart is scheduled for Thursday.

 

Barring surprises, the tense wait may persist until Fed Chair Powell’s speech on Friday, with the Fed also set to release the July meeting minutes on Thursday night (early Friday morning local time).

Other Market News

U.S. Official: UK Drops Demand for Apple ‘Backdoor’

 

U.S. officials revealed that, under pressure from the Trump administration, the UK has abandoned a controversial demand for Apple to provide a “backdoor” for user data access.

 

Apple Shifts More iPhone 17 Production to India

 

Industry insiders disclosed that Apple is ramping up iPhone production at five contract manufacturers in India, including two recently opened factories.

 

The company has begun producing all four iPhone 17 models in India ahead of next month’s launch, marking the first time all new iPhones, including Pro versions, will be manufactured there from the start.

 

SoftBank Invests $2 Billion in Intel

 

As of press time, Intel, still in a turbulent phase, rose 5.79%. The company announced that SoftBank Group has signed a final securities purchase agreement to invest $2 billion in Intel.

 

Viking Therapeutics Oral Weight-Loss Drug Data Released, Stock Plunges 37%

 

 As of press time, U.S. weight-loss drug developer Viking Therapeutics plummeted 35% in Tuesday pre-market trading—the latest in a series of crashes among weight-loss drug companies following Novo Nordisk and Eli Lilly.

 

The company released Phase II trial results for its GLP-1/GIP dual agonist VK2735 oral tablet. The 120mg highest-dose group saw an average 12.2% weight loss after 13 weeks, with 80% of participants losing over 10%. However, 20% of VK2735-treated participants discontinued due to adverse events, compared to 13% on placebo.

 

SharpLink: Adds 143,600 ETH Last Week

 

Ethereum treasury firm SharpLink Gaming disclosed on Tuesday it added 143,600 ETH last week at an average price of $4,648.

 

As of August 17, its total ETH holdings reached 740,800, with staking rewards totaling 1,388 ETH since launching its Ethereum treasury strategy on June 2, 2025.

 

Canada Approves Ozempic for Kidney Disease Management

 

Novo Nordisk announced Tuesday that Canadian health regulators have approved its diabetes drug Ozempic to reduce the risk of kidney failure, disease progression, and cardiovascular death in diabetic patients with chronic kidney disease.

 

This marks the first approval in Canada for a treatment addressing both type II diabetes and related kidney disease progression.