Market Minute ⏱️ 8/19/25: Will Advance Broaden, Pushing Markets to New Highs?

Mike Larson | Editor-in-Chief

After a flattish day for stocks yesterday, we’re seeing a flattish start to trading today. Gold and silver are up a bit, while crude oil is pulling back along with the dollar. Treasuries are marking time.

Stocks are holding near record highs. But to get a healthier market advance from here,  it will require other sectors and stocks outside of “Big Tech” to participate. The good news is, we’re seeing that kind of market action.

Bespoke Investment Group noted that over three days last week, the worst-performing 10% of S&P 1,500 so far in 2025 jumped 6.7%. The best performers rose just 1%. Additionally, the iShares Russell 2000 ETF (IWM) is slightly outperforming the SPDR S&P 500 ETF Trust (SPY) over the last 1-month and 3-month periods.

IWM Vs. SPY (3-Mo. % Change)

Following rumors that the US government could take a stake in the firm, Intel Corp. (INTC) instead got a $2 billion lifeline from SoftBank Group Corp. (SFTBY). The equity investment will make Japan’s SoftBank one of INTC’s top 10 shareholders, and help fund strategic investments in its contract chip manufacturing operations.

Turns out the Trump Administration’s steel and aluminum tariffs won’t just impact…steel and aluminum. New guidance from the Customs and Border Protection agency extended the tariffs to hundreds of consumer products that contain those metals, including everything from auto parts and motorcycles to tableware and baby booster seats.

Finally, European, US, and Ukrainian negotiators are now working on security arrangements after their latest summit in Washington. President Trump and allied leaders are trying to bolster Ukraine’s military and lay the groundwork for a post-truce peacekeeping force. Direct talks between Russian President Vladimir Putin and Ukrainian President Volodymyr Zelensky could follow soon, though nothing has been confirmed yet.

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• Fed: Which Interest Rate Path Will it Choose this Fall?
  👉️ TICKER: SPY
  Similar to the Scarecrow in The Wizard of Oz offering Dorothy two contradictory paths to the Emerald City, last week’s Consumer Price Index (CPI) and Producer Price Index (PPI) data provided conflicting signals, implying the Federal Open Market Committee (FOMC) might adopt a more cautious stance on lowering interest rates, explains Sam Stovall, chief investment strategist at CFRA Research.

• INTA: A Back Office Software Play for this Strong Market
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  We have much to contemplate this summer vacation…and much to celebrate as markets rally to new highs on a combination of clarity, resilience, and stimulus. Tariffs of 10%-15% are lower than feared – and probably a level everyone can live with. Meanwhile, Intapp, Inc. (INTA) just jumped 15% on a 17% earnings beat and 17% guidance increase, writes Adam Johnson, editor of Bullseye Brief.

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