August 29, 2025

Markets:

U.S. equity futures edged lower Friday as traders awaited fresh inflation data to close out the final trading session of August. The spotlight is on the personal consumption expenditures (PCE) index, with economists surveyed by Dow Jones looking for a 0.2% monthly rise in July and a 2.6% annual increase.

Nvidia extended its recent slide, dipping about 1% premarket, after reports that Alibaba has developed a more advanced chip to help offset restrictions on Nvidia’s sales in China. U.S.-listed shares of Alibaba climbed more than 2%. Earlier this month, President Trump cleared Nvidia to sell its H20 chips in China, but Beijing has since told local firms to halt purchases, citing national security concerns.

Portfolio:

It’s been a strong week and solid month overall. Momentum is building, and we’re eager for volume to pick back up once traders return from the Labor Day break. We head into the month’s final session holding positions in SOUN, ZMDTF, and NIO.

Today, patience is key. Expect light volume and choppy action, especially into midday when activity could dry up further. Stay alert for any triggers, but the real focus will be Tuesday. After the long weekend, we’ll be in full attack mode.