Markets

Sunday: A Stronger Digital Rebound While Tech Remains Under Pressure

By Walid Mograbi · 2026-08-23 · 3 min read

A weekend close that leans defensive in equities, with a clear rebound in Bitcoin and metals, while bond yields remain relatively elevated.

Quick Take

• The main message today is straightforward: U.S. technology remains weaker than other major asset groups, while digital assets and metals are sending a stronger hedge signal.
• The confirmed evidence is that Nasdaq 100 futures are lower, while Bitcoin is rebounding sharply and gold and silver continue to rise.
• This is a weekend reading, not a full cash session, so the signals may shift once global markets and then Wall Street open.

What Matters Now

• Nasdaq 100 futures are at 29,387.75 versus 29,586, which keeps technology under relative pressure before any new opening.
• S&P 500 futures are at 7,691.25 versus 7,714, so the decline is milder than Nasdaq and the pressure is more concentrated in growth.
• Bitcoin is at 76,579.54 and Ethereum at 2,382.92, a strong enough rebound to stay on the radar as a risk-sentiment signal.
• Next week includes two important releases: new home sales on August 25 at 10:00 a.m., and durable goods on August 26 at 8:30 a.m.

From Yesterday To Today

• Yesterday’s headline was that hedging had returned strongly while tech stayed under pressure. Today, that hedge tone has not gone away, but Bitcoin and Ethereum have added a clearer rebound.
• Gold and silver have extended the defensive move more than they did yesterday, making the picture more hedged than a simple equity weakness story.
• What has not changed is the relatively elevated bond yield backdrop, so there is still no clear confirmation of a comfortable return to strong growth pricing.

Market Impact

• There is no clear entry on the Federal Reserve events page for today and August 24, which lowers the chance of a near-term policy surprise. The biggest impact remains on stocks and bonds.
• Gold and silver rising while the 10-year yield stays above 4.7% points to a mix of hedging and doubt about how quickly easing will arrive. The most affected areas are metals and growth stocks.
• The rebound in Bitcoin and Ethereum may reflect stronger demand for risk outside traditional equities. The most affected areas are digital assets, then broader risk sentiment.

Economic Calendar

• August 25, 10:00 a.m.: July new home sales. This matters because it measures consumer sensitivity to interest rates and financing costs.
• August 26, 8:30 a.m.: July durable goods. This matters because it hints at capital spending strength and industrial demand.
• August 23 and 24: no clear entry appears on the Federal Reserve page. In practice, that means traders will lean more on price action than on fresh official messaging.

What We Are Watching

• Does Bitcoin hold its gains, or does it slip back below the early rebound signal?
• Does Nasdaq 100 futures narrow its -0.67% loss, or does the decline widen before the week begins?
• Does gold stay above its prior reference close, or cool off after the sharp move?
• Does the U.S. 10-year yield move back above 4.75%, or stabilize below it?