S&P 500’s losing streak extends to three

The longest run in the red for the benchmark US stock index in over a month.

Your Evening Briefing September 25, 2025 S&P 500's losing streak extends to three The S&P 500 fell 0.5% on Thursday, marking its third straight day in the red for the first time in over a month. The Nasdaq 100 gave back 0.4% and the Russell 2000 fell 1%. Every S&P 500 sector ETF finished in the red aside from energy, with consumer discretionary and healthcare faring the worst. Bright spots on the day were led by Intel, which rose 8.8% following a Bloomberg report that the chipmaker approached Apple about a possible investment as it seeks to revive its business. Declines were led by CarMax, which sank 20% after the used vehicle retailer missed Wall Street's estimates for the second quarter. Elsewhere… Amazon ticked 0.9% lower after agreeing to pay $2.5 billion to settle a case by the Federal Trade Commission that alleged the retailer tricked people into signing up for Prime and made it hard to cancel.  Quantum stocks including IonQ, D-Wave Quantum, and Quantum Computing sputtered after nearly doubling thanks to the US government calling the technology an R&D priority for fiscal 2026. Stitch Fix sank nearly 17% after the personal styling platform topped the Street's Q4 expectations but tepid guidance and declining customer numbers disappointed investors. Oklo dove 9.2% after an SEC filing showed company director Michael Klein sold some $6.7 million in stock. Cipher Mining fell nearly 18% after initially popping, following news that Google was taking a 5.4% equity stake in the data center company. Shares of retail darling Opendoor Technologies jumped over 10% after proprietary trading firm Jane Street revealed a 5.9% stake in the company in a new filing. BYD leapt 2.5% after the Chinese EV maker outsold Tesla in the EU again in August. Tesla fell 4.4%. Duolingo popped 4.2% after the language-learning app regained some attention among options-trading retail investors. Hertz ticked up 0.9% after the company announced an upsized $375 million exchangeable senior notes offering, an increase from the previously announced offering size of $250 million. — Luke Kawa, Markets Editor & Nia Warfield, Markets Writer Retailers prep for an October sales blitz ahead of a cutthroat holiday shopping season Walmart, Amazon, and Target are leaning on early deal events, faster delivery, and price cuts to win over cash-strapped consumers. Read more. Investors are growing bullish on weed stocks. But why? We spoke to ATB Capital Markets analyst Frederico Gomes about why institutional investors are growing bullish on cannabis. Read more. Analyst boosts Google price target, saying it should be the most valuable company on the planet Analyst Michael Nathanson raised his price target on the shares to $295 from $230 and laid out four ways AI will "separate Alphabet from peers." Musk's xAI sues OpenAI, alleging theft of trade secrets Following a recent lawsuit against a former employee over allegedly stealing trade secrets, Musk's xAI is now suing the company that executive left to work for — OpenAI. The suit accuses OpenAI of "inducing" recruits that it poached to steal trade secrets from the company. Retail traders are dumping Bloom Energy after near 300% rally, says JPMorgan Retail is pushing the sell button on the much-hyped, high-performing fuel cell and AI-linked stock. Ethereum drops below $4,000 as Rex-Osprey launches first ETF with ethereum staking Mounting concerns over digital asset treasuries buying crypto near the top of the market may be weighing on overall sentiment. Tesla asks Trump not to repeal legal underpinning for carbon emissions rules Tesla depends on revenue it gets from regulatory credits. China, the world's largest carbon polluter, has pledged to cut emissions for the first time President Xi Jinping has announced that China is aiming to slash carbon emissions by up to 10% in the next decade. 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 SHERWOOD MEDIA, LLC, 85 Willow Road, Menlo Park, CA 94025