S&P 500 gives up early gains to finish flat |
The S&P 500 opened higher but couldn't maintain its gains through the trading day, finishing flat. The Nasdaq 100 eked out another record close with a 0.2% gain and set a fresh all-time high early in the session. The Russell 2000 slid 1.2%. Under the hood, the benchmark US stock index was soft, with decliners outnumbering stocks that gained by 229 on the day. Only two S&P 500 sector ETFs finished in the green, tech and healthcare, with the former a large standout. Real estate, consumer staples, utilities, and consumer discretionary were all down more than 1%. AI server company Super Micro Computer led gains among S&P 500 companies, up nearly 9%. Meanwhile, Nvidia jumped 4%, hitting a fresh all-time high after Loop Capital hiked its price target on the stock to $250 from $175. Elsewhere… |
- Paychex led declines, sinking 9% after the HR software provider missed Q2 sales forecasts and gave a lukewarm full-year outlook.
- Top NYC office landlords SL Green and Vornado fell 5.7% and 6.7%, respectively, as investors reacted negatively to the recent surprise win of Zohran Mamdani in New York City's mayoral primary.
- BP shares shot up briefly after a Wall Street Journal report said the oil giant was in talks to be bought by rival Shell. Shell later denied the report, and BP finished roughly 1% down.
- Bumble soared 25% after the women-focused dating app said it would lay off nearly a third of its staff, a cost-cutting measure that sparked some investor confidence.
- BlackBerry shares jumped over 12% a day after the now software and security company topped Q2 estimates and surprised investors by swinging to a profit.
- General Mills shares slipped 5% after the Cheerios and Pillsbury parent posted mixed Q4 earnings and slashed its full-year forecast as consumers pull back on name-brand groceries.
- FedEx shares were down over 3% after the legacy courier company topped Q4 earnings estimates but gave less-than-optimistic guidance for the current quarter.
|
— Luke Kawa, Markets Editor & Nia Warfield, Markets Writer |
|
|
Nvidia hits all-time high as Loop Capital sets the highest price target on Wall Street for the AI juggernaut |
Analyst Ananda Baruah thinks Nvidia is a $6 trillion company. Read more. |
|
|
FedEx's quarterly report is exactly what you don't want to see in the upcoming earnings season |
FedEx's results underscore that while tariffs are a solved problem in the eyes of the stock market, they are not for US executives. Read more. |
|
|
QuantumScape has never made any revenue, but its stock is up over 30% today after claiming to have hit major milestone QuantumScape, a $2.4 billion market cap (as of last night) development-stage company working on solid-state battery tech for EVs, jumped over 30% after yesterday's announcement that it had reached a "major milestone" in scaling up production of its ceramic battery separators. The separator is QuantumScape's core product — and its new breakthrough integration is faster, more energy efficient, and takes up less space compared to earlier methods, the company said. Read more. |
|
|
- What's going on with Tesla's share price? It's complicated.
The EV company is facing headwinds from regulators and itself. - "It definitely came as a surprise": How the Novo Nordisk-Hims partnership epically flopped in just two months
Meanwhile, customers are wondering: "Are they going to refund us or what?" - Human safety monitor had to intervene during an autonomous Tesla robotaxi ride
On the third day of the company's robotaxi launch, a human safety monitor was forced to intervene.
- Micron surges after Q3 results smash expectations with strong outlook
The chipmaker posted a fantastic set of quarterly results. - Wedbush hikes price target on Microsoft to $600, saying "AI set to change the cloud growth trajectory"
Dan Ives loves Microsoft, one of his favorite stocks, even more than he used to.
- Cox Automotive: Tesla US sales expected to fall 21% this quarter
That would put them down 15% for the first half of the year compared with 1H 2024. - The strip mall will see you now: How retail's apocalypse spawned a "med-tail" renaissance
From high-end longevity clinics to hospital expansion, healthcare real estate is coming to a neighborhood near you.
- Musk says every Tesla is "capable of being a robotaxi." But a report says the robotaxis are getting special parts.
Robotaxi hardware upgrades pour some water on Musk's assertion that every Tesla could be a robotaxi. - The bitcoin corporate treasury race might turn into Hunger Games for some
Not everyone can be Strategy. - NATO allies agree to 5% defense spending target — but which countries spend the most on their military already?
The move will help the Western bloc stay "united in the face of profound security threats and challenges."
- BNPL loans will now count toward Americans' credit scores
While it's a chance to build credit for some, it might penalize those already on shaky ground. - Prediction market Kalshi raises $100 million at a valuation over $1 billion
The news comes a day after rival Polymarket announced its own fundraise - Bernstein hikes Coinbase price target to highest on Wall Street
It's "the most misunderstood company in the firm's crypto coverage universe," the analyst said. - Casual dining is eating fast food's lunch right now
Americans don't see fast food as good value anymore. Now, even Red Lobster is feeling confident enough to try some old tricks. - Microsoft sued by authors for training AI on their pirated works
Just a day after a significant decision in a copyright case against Anthropic, a group of authors are seeking compensation from Microsoft for knowingly using a pirated data set containing their copyrighted works.
- After more than a year and a half, Ford is increasing its RTO policy by one day
Ford began its three-day RTO policy in February 2024.
|
|
|
Was this email forwarded to you? Don't miss out on future stories — subscribe to The Wrap and get your daily dose of financial news straight to your inbox. Craving more insights in your inbox? Subscribe to Chartr and Snacks for quality reads. We care what you think! If you have any feedback or comments, feel free to reply and let us know your thoughts! |
|
|
Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... See more |
|
|
|
No comments:
Post a Comment