S&P 500 goes nowhere in rangebound trading day

The S&P 500 was modestly lower with the Nasdaq 100 marginally higher on Tuesday, while small caps made back some of Monday's big losses with a 0.7% gain.

Your Evening Briefing July 08, 2025 S&P 500 goes nowhere in rangebound trading day The S&P 500 was modestly lower with the Nasdaq 100 marginally higher on Tuesday, while small caps made back some of Monday's big losses with a 0.7% gain. The difference between the high and low price for the S&P 500 relative to Monday's close was just 0.4%, the smallest range since Valentine's Day and the second-narrowest of 2025 so far. Energy was the best-performing S&P 500 sector ETF, while utilities was the worst. A Guinness World Record propelled shares of Lucid sharply higher, as the luxury EV maker announced that one of its Air Grand Touring cars traveled 749 miles on a single charge. Soundhound AI soared amid a spike in call demand. Moderna also surged, though seemingly for no particular reason. Clean energy stocks like First Solar got slammed after President Trump signed an executive order that may curb their ability to access tax credits. Amazon slumped after reports that early spending during Prime Day was down double digits versus 2024. CoreWeave and Core Scientific kept slumping the day after the former announced it was acquiring the latter. Clear dipped on news that the TSA is dropping the requirement for passengers to remove their shoes for a security check, which may potentially dent demand for the line-skipping service. Tiny semiconductor firm Sequans Communications went parabolic after completing a $384-million capital raise that it's using to buy bitcoin. Elsewhere in crypto-linked gainers, Trump Media caught a decent bid after filing for a crypto blue chip ETF. — Luke Kawa, Markets Editor SoundHound's running battle with the shorts continues Retail favorite SoundHound AI jumped today, as a surge in call options seemed to squeeze some of the extremely high short interest out of the shares. Read more. Why Grindr decided to build a side hustle selling pills From stoic Senator Bob Dole to racy ads targeting men on a gay dating app, erectile dysfunction marketing has changed wildly over the past three decades. Read more. TODAY'S BIG MOVE (Thomas Fuller/Getty Images) SharpLink soars on ethereum acquisition Sportsbook marketing firm SharpLink Gaming is wasting no time stockpiling ethereum for its recently launched treasury, now holding 205,634 ethereum. The company's latest acquisitions were between June 28 and July 4, when it acquired 7,689 ethereum for $19.2 million, it said on a post on X. Shares jumped 29% today. Read more. Ives: Tesla board must "act now and set the ground rules" around Musk's political ambitions The Wedbush analyst suggests a new incentive-driven pay package to curb Musk's political actions. Musk to Tesla analyst Ives: "Shut up, Dan" Ives laid out a case. Musk shot it down with three words. Wall Street says chase the rally, with Goldman and BofA upping S&P 500 price targets Goldman Sachs expects high valuations to persist thanks to Fed easing, while Bank of America trumpets the resilience of corporate earnings. President Trump threatens 10% additional tariffs on countries backing "anti-American" BRICS policies The BRICS bloc has grown to represent nearly 40% of global GDP in recent years. Eli Lilly is fattening its stockpiles of GLP-1s to prevent tariffs from trimming its profits Imports of peptides and protein-based hormones — the category that GLP-1 weight-loss drugs fall under — from Ireland are already more than double than last year. Tech companies pledge $23 million to train teachers to use AI Microsoft, Anthropic, and OpenAI are partnering with the American Federation of Teachers to set up the National Academy for AI Instruction to push AI in the classroom.  Boeing improved its first-half deliveries by 60%, further closing its gap with Airbus Boeing and Airbus each reported their second-quarter and first-half delivery totals on Tuesday. Semler jumps on Benchmark initiating coverage with a "buy" rating Semler is the 15th-largest corporate bitcoin holder, with 4,449 bitcoin. Porsche is getting crushed in China as deliveries slip again Unit shipments have almost halved in China since 2022. Meta poaches top Apple AI executive for its superintelligence group Meta has been on a spending spree. The Apple exec will cost it tens of millions per year. 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 Sherwood Terms and Conditions Our Editorial Standards Contact Us Advertise With Us Unsubscribe Privacy Policy