After jobs report, Street hopes for good news from Oracle, Adobe, Kroger

Just looking at how the major averages ended the week, you’d think nothing happened in the stock market.

The drama, you might hear, was all in the bond market. They may be right. Here’s what we mean. 

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On Aug. 29, the iShares 20+ Year Treasury Bond exchange-traded fund  (TLT)  closed at $86.44. The fund invests in long-term Treasury securities.

On Friday, the TLT closed at $88.14, up nearly 2.3% on the week — a better weekly performance than any of the major stock averages: 

• Standard & Poor’s 500 Index, Week change: up 0.33% for the week and 10.2% year-to-date.
• Dow Jones industrial Average. Week change: down 0.3%.   Up 6.7% year-to-date.
• Nasdaq Composite Index: Week change: up 1.1%. Up 12.4% for the year.
• Nasdaq-100 Index. Week change: 1%. Year-to-date: Up 12.6% for the year.
• Russell 2000 Index. Week change: up 1%. Year-to-date gain: 7.2%.

The reason was the August jobs report, much softer than expected.

Result: Traders bet interest rates are definitely coming down, which the Federal Reserve will confirm at its Sept. 16-17 meeting. 

And, because bond prices rise as interest rates fall, TLT shares went up. Score one for the TLT and the bond market. 

Rates are likely to fall into the end of the year. Good for stocks. Good for an economy that been slowing since the start of 2025. 

Looking  beyond the averages

Broadcom  (AVGO)  was up 9.4% Friday and 12.5% for the week, thanks to a huge earnings report and announcement it will co-design chips for ChatGPT-maker Open AI.

Google-parent Alphabet  (GOOGL)  added 9.9% for the week because a court decided the company can’t pay to be the exclusive search engine on devices and browsers. But the court decided to let Google continue serving as the default web browser on Apple  (AAPL)  devices. (Apple investors were the thrilled. Google pays Apple $20 billion a year for the exclusivity.)

Related: Veteran trader has two words of advice for nervous Nvidia investors

Some stocks had rotten moments.

Drug-maker Kenvue  (KVUE) , maker of Tylenol, fell 9.3% on Friday alone after The Wall Street Journal reported Health Secretary Robert F. Kennedy, Jr. will announce the drug is potentially linked to autism.

Lululemon athletica  (LULU)  fell 18.6% after warning that tariffs and other issues will dent its profits by some $240 million. 

Among stocks hitting 52-week highs last week:

• Alphabet
• Seagate Technology  (STX)
• Corning  (GLW)  

And because mortgage rates fell: 

• D.R. Horton  (DHI)
• PulteGroup  (PHM)
• Lennar  (LEN)
• Lowes Companies  (LOW)  

What’s ahead: Oracle, Adobe, Kroger, Manchester United

The week will start with investors digesting the jobs report. Look for volatility in the next few weeks because of tariffs, the battle over the Federal Reserve and, probably, more soft economic data. 

Not to mention controversy over sending the National Guard out to Chicago — and maybe elsewhere — will still be going on.

There is still optimism the S&P 500 will end the year close to 7,000 and higher still in 2026. That assumes the economy cooperates.

Related: Ulta Beauty to expand major section in stores customers love

While this is not a big week for earnings reports, there are companies worth paying attention to: 

• Database giant Oracle  (ORCL) . Tuesday afternoon. Revenue projected at $15 billion, up 12.9% from a year ago. Earnings per share: $1.35, down 2.9%. 
• Synopsis  (SNPS) , designer of electronic automation systems, Tuesday afternoon. Revenue estimate: $1.77 billion, up 15.9%. Earnings: $3.35, down 2.3%. 
• Adobe  (ADBE) , Thursday p.m. Revenue estimate: $5.9 billion, up 9.2%. Earnings: $4.79, up 3%.
• Supermarket giant Kroger  (KR) , Thursday a.m. Revenue estim: $34.1 billion. Earnings estimate: $1, up 7.5%.
• (For the soccer/football lover in you) Manchester United  (MANU) , Thursday a.m. Revenue estimate: $225.8 million. Earnings estimate: -$0.06 

Apple to show off new products this week 

Also coming this week: Apple’s biggest product launch of the year. 

It will feature its new iPhone, smartwatches and other peripherals. Plus, there will be announcements about new products including new AirPods, new Apple TV and iPad pro. 

The goal: Hold back competition from Samsung, Google and Chinese competitors like Huawei Technologies and Xiaomi Corp. 

The downside of the event, to be held at Apple Park in California: Apple isn’t expected to show much new on artificial intelligence features.

Apple was up 3.3% for the week and has jumped nearly 42% since the April bottom. But despite a market cap of $3.55 trillion, the shares are down 4.2% for 2025.

More Wall Street Analysts:

• Small stocks outperform thanks to confidence that interest rates are going lower
• Analysts turn heads with Nvidia rival’s stock target after earnings
• Rare signal to send stock market surging next year, says veteran analyst
• Analysts unveil surprising Dell stock target after slump

 A stock maybe to think about 

That would be Casey’s General Stores  (CASY) , which operates 2,900 convenience stores under the Casey’s brand in 19 states in the middle third of the United States from Canada to Florida. 

The Ankeny, Iowa-based company reports on Monday, with revenue estimated at $4.5 billion, up 10%, and earnings at $5.04, up 4.4% from a year ago. The company has a market capitalization of $18.8 billion. Casey’s is the nation’s third-largest convenience-store chain — and 5th largest pizza chain.

Related: Maybe you thought Berkshire Hathaway was out? Not yet

The stock closed Friday at $505.64, up 27% this year but off 4.8% from its July 52-week high. It combines the usual stuff you find at convenience stories but offers fairly decent pizza made at each store. 

Casey’s strategy is to grow, mostly by acquisitions, concentrating on smaller markets. Two thirds of its stores are in towns with 20,000 residents or less. Some analysts worry Casey’s is carrying too much debt amid intense competition and rising costs. Its relative strength index is about 50, suggesting the stock isn’t over-bought. It had seen an RSI of 75.44 (an overbought signal) in July. 

Coming soon to the S&P 500

As my colleague Noah Weidner noted on Friday, Standard & Poor’s is adding three stocks to the flagship S&P 500 as of Sept. 22: 

• Online broker Robinhood Markets  (HOOD)
• Digital advertising company Applovin  (APP)
• Construction company EMCOR Group  (EME)

Leaving the index are: 

• Bond-trading firm MarketAxess  (MKTX)
• Gambling company Caesars Entertainment  (CZR)
• Solar-company Enphase  (ENPH)

Related: These two popular tech stocks just got added to the S&P 500

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