U.S. stock futures ticked upward on Wednesday, August 13, 2025, as traders bet the summer rally still had fuel left in the tank. Nasdaq-100 contracts led the pack with a rise of just over 1%, while the S&P 500 and Dow Jones futures added roughly 0.2% each. The moves came on the heels of an upbeat inflation reading earlier in the week and a strong overnight session in global markets, giving Wall Street a running start.
Chart watchers had plenty to talk about. The S&P 500 was flirting with a key technical marker—the 50-day moving average—while momentum gauges like the Relative Strength Index were edging toward levels that often precede a breather. Still, the lack of fear was evident: the CBOE Volatility Index, Wall Street’s preferred anxiety meter, hovered near its lowest point in months. For now, the market’s mood seemed firmly risk-on.
Beneath the surface, there was a clear rotation in play. Defensive sectors such as utilities and consumer staples lost some shine, while cyclical names and interest rate-sensitive groups, especially banks and industrials, drew fresh buying. Financial stocks in particular benefited from the idea that the Federal Reserve’s anticipated rate cuts could steepen the yield curve, fattening profit margins. Tech stocks, especially semiconductor makers, extended their winning streak on the back of new contract announcements and upbeat earnings chatter.
Individual companies delivered their own drama. In a bold and unexpected twist, artificial intelligence startup Perplexity was reported to have made a staggering $34.5 billion bid for Google’s Chrome browser—a headline that rattled both the tech sector and antitrust watchers. Meanwhile, CoreWeave, the data-center operator catering to AI workloads, fell nearly 9% after revealing a deeper-than-expected quarterly loss, even though revenue topped projections. CAVA Group fared even worse, shedding nearly a quarter of its value after disappointing sales and a weaker full-year outlook.
Away from equities, oil prices dipped modestly as the International Energy Agency projected heavier global supply over the next two years, keeping pressure on crude benchmarks. The U.S. dollar slipped against major currencies, a move that lent a boost to American exporters and added another tailwind for equities.
Looking ahead, all eyes are on Thursday’s wholesale inflation report and Friday’s consumer sentiment survey. Those numbers could set the tone for whether this rally keeps climbing or pauses for breath. For now, traders appear willing to ride the wave a little longer—confident, but with one hand on the lifeline.
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