August 30, 2026

🛋️ MRKTcap

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🥳 Happy Sunday.

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In this newsletter we're diving into:

🤖 A company's bet on AI just handed investors a nice surprise

👟 A shoe seller just tripped over its own aisles

🚗 A trade fight just made car prices personal

Plus, one chip company just told Wall Street to buckle up for a wild growth run.

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Make yourself comfy 🛋️ and let's get into it...

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Market Crowd​
​How the market did this week.

Dow 53,559.99 +282.98 +0.53%

S&P 7,711.76 +37.39 +0.49%

Nasdaq 26,402.42 +221.96 +0.85%

*As of market close on Friday, August 28th.

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Pre-Market Play​
​A market beat to start your week.
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💸 The AI that was "killing" Salesforce...

And it just cut Marc Benioff a $2.6 billion check.

Salesforce (CRM) shot up almost 23% once its earnings landed, its best day since a 26% jump in 2020.

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Sales beat what Wall Street expected at $11.35 billion, and profit nearly doubled from last year.

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Here's what's wild...

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Wall Street's spent the year arguing over the "SaaSpocalypse," the fear AI chatbots would make old-school software companies useless.

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Anthropic, the AI company everyone feared would replace Salesforce, just handed it a $2.6 billion profit bump because the value of Salesforce's piece of Anthropic went up.

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"This is not the SaaSpocalypse," CEO Marc Benioff said.

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AI talent Salesforce lost to OpenAI is walking back, about two dozen in talks to return.

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The rally didn't stop at Salesforce... Adobe (ADBE) and the rest of software caught the wave, with the sector's ETF up about 5%.

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Salesforce raised its full-year outlook, and Agentforce is now pulling in $1.5 billion a year, up 240% from last year.

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Even with this pop, CRM is still down about 5% this year while the S&P 500 is up 12%.

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The next real test lands toward the end of September, when CRM usually goes up anyway, showing whether this rally is real growth or just a one-time Anthropic bump.

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🥡 The Takeaway: Watch CRM into late September, because the seasonal pattern favors it, but the real question is whether Agentforce's growth keeps up once the Anthropic bump stops padding the numbers.

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👟 Foot Locker's bill came due again...

And Wall Street didn't like the total.

Dick's Sporting Goods (DKS) closed down roughly 30% the day of its second quarter earnings, the worst single day the company has ever had.

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That beats the old record, a 24% drop back in 2023.

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Here's the receipt breakdown.

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Dick's own stores did their job. Comparable sales (sales from stores open at least a year) grew 4.9%, helped by a summer boost from the World Cup.

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Foot Locker did not.

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Comparable sales there fell 3.6%, and Dick's cut its outlook for the chain to flat, or even down 2%, for the rest of the year.

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The company also trimmed its full year sales forecast to $21.9 - $22.2 billion, down from $22.1 - $22.4 billion.

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The profit forecast is where it really shows. Down to $1.45 - $1.55 billion, from $1.69 - $1.81 billion. Roughly $240 million gone off the low end alone.

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Dick's bought Foot Locker last year for $2.4 billion, betting the mall staple could turn around under new ownership.

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So far, that bet keeps costing more than the plan said it would.

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CEO Lauren Hobart says she's still confident in the long game. Investors wanted more than a statement.

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DKS usually goes up going into September and this year that stretch starts one day after the worst drop in the stock's history.

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🥡 The Takeaway: Watch DKS heading into the next report to see if the Foot Locker outlook gets cut again, because that's the number that keeps setting the stock's ceiling.

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🍁 Toupee Fiasco's icing out the neighbors...

And this time it's cars taking the hit.

Toupee Fiasco (Trump) just told Canada where they stand, and it ain't good if you're selling cars.

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Starting January 1, 2027, tariffs (taxes on imports) on Canadian cars, trucks, and auto parts jump from 25% to 50%.

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That's double.

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The announcement came after trade talks between the two countries collapsed Friday night, both sides blaming the other.

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Toupee Fiasco piled on with more insults on Truth Social.

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"Canada has been ripping off the United States for years," he wrote, adding the country "will be treated like a State no longer!"

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Canada didn't wait long to answer back.

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Canadian Finance Minister François-Philippe Champagne put it plainly: the U.S. "asked too much and offered too little."

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On Tuesday, Ottawa followed through: new duties on 700-plus American products worth about $20 billion, including a 50% tariff on U.S. steel and aluminum.

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Those duties take effect September 8.

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Here's the twist most people miss...

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Canada's auto industry isn't really Detroit's problem anymore.

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Toyota (TM) and Honda (HMC) now build more cars in Canada than Ford (F), General Motors (GM), and Stellantis (STLA) combined.

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So this reads like an American-automaker story, but it's really Japanese, wearing a trade war costume.

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Parts can cross the border several times before landing in a finished car, taxed more than once along the way.

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🥡 The Takeaway: Canada's $20 billion in retaliation lands Sept 8, months before Toupee Fiasco's auto tariffs kick in Jan 1, so watch F, GM, STLA, TM, and HMC for whether this eases or escalates.

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💫 TMYK
​A quick pop quiz to help you learn about the market. The more you know!​
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Every options contract has an ______ — the last day it can be exercised.

Click your answer below:

a.) settlement date

b.) expiration date

c.) ex-date

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Gimme some mo'
​More news from 'round the market.
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🛡️ CrowdStrike's redemption quarter
CrowdStrike (CRWD) posted its best quarter ever as fears about AI-powered hacking sent companies rushing to buy protection see what's behind the 61% run →

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​🔮 Nvidia's forecast just reshuffled tech
Nvidia (NVDA) told investors to expect 70% sales growth next year, enough to leapfrog Apple and Alphabet in total revenue see where the money's headed →

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​🚫 U.S. targets Iran's money trail
Treasury just launched a global sanctions plan against Iran and said China isn't off the hook either see who's really on the list →

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​🔐 Okta cashes in on AI fear
Okta beat earnings and raised its outlook as AI agents create a whole new identity security problem for companies to solve see why Wall Street's paying attention →

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​🛍️ Old Navy's CEO got benched
Gap (GAP) shares popped 12% even after Old Navy posted its worst sales drop since 2023 here's why Wall Street isn't worried →

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​🎤 Warsh's inflation headache
The Fed's favorite inflation number landed a touch higher than expected right before Chair Kevin Warsh's first big Jackson Hole speech here's what he's got to explain →

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​🎰 Sports bet or swap? Court decides
A federal appeals court sided with Nevada over Kalshi and Robinhood (HOOD), ruling sports event contracts are gambling and not federally regulated swaps, and DraftKings (DKNG) and Flutter Entertainment (FLUT) stock jumped on the news see who wins this fight next →

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🤳🏾 Let me check my palm pilot
​Earnings events on deck this coming week.

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Market Outlook
​A look at how the market does historically over the next week.

Dow Down 10 out of 15 years

S&P Down 11 out of 15 years

Nasdaq Down 8 out of 15 years

Data provided by Swingset.

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Trend of the Week

Amazon.com Inc. (AMZN) has a trend of going up over the next week. It’s gone up 13 out of the last 15 years moving an average of +3.27% and projected to repeat this move August 28th - September 4th. Amazon.com Inc. (AMZN) As of Aug 28, 2026 $266.43 Trend Type 1 Week Up Recurrence 13 / 15 Avg Change +3.27% Trend History YEAR · CHANGE 2011 +4.67% 2012 +0.04% 2013 +4.45% 2014 +1.87% 2015 -3.67% 2016 +2.28% 2017 +1.44% 2018 +3.21% 2019 +4.33% 2020 -0.94% 2021 +2.56% 2022 +0.58% 2023 +2.06% 2024 +4.15% 2025 +2.99% 2026 Aug 28 → Sep 4

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How'd you like this edition of MRKTcap? ​ 😕 Meh. Needs more spice.​ ​ 🙂 Not bad. Hit the highlights.​ ​ 😍 Nailed it! I'd read this again.​

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To wealth in every sense of the word,

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This newsletter is by no means a solicitation to buy or sell any of the above-mentioned securities. It is for educational and entertainment purposes only. Any views expressed here do not necessarily reflect the views of any affiliate. Expressions of opinion are as of this date, are solely that of the writer and are subject to change without notice. All investments involve risk including the loss of principal and past performance does not guarantee future results. Always do your own research and due diligence. This newsletter may contain affiliate links and we may receive commissions, at no cost to you, for purchases made through links in this email. The MRKTcap team often invests in the same stocks that we cover.

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