Tuesday, August 25, 2026 — Nvidia earnings day is the whole tape: $NVDA faces a $280B expected swing on a $92B quarter, $DKS is down 27.8% on 11.3x volume, and consumer confidence is sliding into Jack

Canada plays tariff tit-for-tat with Trump — watch this: it's a fresh risk-appetite drag while the AI trade is already on edge. The issue is the macro undercurrent: consumer confidence slips, the expectations index sinks, and Powell at Jackson Hole may have to lean dovish. Citadel says Treasury buybacks are financial repression — not sure people appreciate how that caps long-end pain. $NVDA options traders are betting on a bounce back above $220 after the print, and AM Intelligence ordered 9,000 Vera Rubin systems. Good signal on demand, but the sympathy basket $AAPL $MSFT $AVGO $MU $AMD will trade it either way. $DKS is a bad signal on the consumer: -27.8% on Q2 earnings and revenue misses, 11.3x average volume. That's a warning on the US household before the Fed even speaks. Brent drops under $90 on renewed Iran optimism — good for inflation, bad for energy longs, and a tell that the geopolitical premium is leaking out while demand worries build. Crypto and event-derivative trad

Canada plays tariff tit-for-tat with Trump — watch this: it's a fresh risk-appetite drag while the AI trade is already on edge.