Market Close: Stocks Cut Week's Losses, 2 Retailers Rally, Bullish Bitcoin Move 8-21-2026

Watch on YouTube ↗  |  August 21, 2026 at 20:37  |  2:21  |  CNBC
Speakers
Jim Lamp — Senior Portfolio Management Director, Morgan Stanley
Michael Zakkour — Founder, 5 New Digital
Peter Schacknow — Anchor, CNBC Business News Update

Summary

Stocks closed a losing week with a modest Friday rally, as the Dow gained 518 points and the S&P 500 and Nasdaq each rose about 0.4%. Morgan Stanley's Jim Lamp said the bullish market trend remains intact, supported by strong earnings. Retail expert Michael Zakor sees consumers becoming more price-sensitive, favoring off-price retail and names like Home Depot, Lowe's and Walmart. Bitcoin and related stocks rallied after bitcoin jumped over 20% for the week.

  • Dow gained 518 points Friday, cutting weekly losses; S&P 500 and Nasdaq each rose 0.4%.
  • Jim Lamp says the bullish market trend is still in place, supported by strong earnings.
  • Ross Stores and BJ's Wholesale rallied after better earnings and raised guidance.
  • Michael Zakor expects choosy consumers to favor off-price retail and likes Home Depot, Lowe's and Walmart.
  • Bitcoin jumped over 20% this week, lifting Coinbase, Robinhood and Strategy.
  • S&P Global's services index rose to its highest level since December 2024.
Ideas
Jim Lamp Senior Portfolio Management Director, Morgan Stanley 0:32
Bullish trend intact on strong earnings.
The market's bullish trend remains in place despite recent volatility because earnings have been fantastic, with 88% of companies beating top-line estimates, signaling the economy is doing well.
SPY HIGH
Michael Zakkour Founder, 5 New Digital 1:33
Off-price retail gains from choosy consumers.
Consumers are pulling back and becoming more choosy about spending, which is driving a shift toward off-price retail from an equity standpoint as the holiday season approaches.
Off-price retail MED
Michael Zakkour Founder, 5 New Digital 1:38
Bullish Home Depot, Lowe's, Walmart.
Home Depot, Lowe's, and Walmart remain favorites in a more selective consumer environment, offering exposure to retailers that can handle a choosy holiday shopper.
HD LOW WMT MED
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This CNBC video, published August 21, 2026, features Jim Lamp, Michael Zakkour discussing SPY, Off-price retail, HD, LOW, WMT. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Jim Lamp, Michael Zakkour  · Tickers: SPY, Off-price retail, HD, LOW, WMT