Three stocks power S&P 500 to fresh record closing high

Eighty-three basis points of today's return in the SPDR S&P 500 ETF, more than 2x its daily gain, were attributable to Oracle and the two leading US chip designers, Nvidia and Broadcom.

Your Evening Briefing September 10, 2025 Three stocks power S&P 500 to fresh record closing high Another day, another record close for the S&P 500. Gains on the day were led by, of course, Oracle, which soared 36% after the cloud giant missed Q1 estimates but reported a 359% surge in its key "booked" revenue, known as "remaining performance obligations" (RPO). Shares pared gains after the company said its revenue backlog was a function of a $300 billion deal with OpenAI. The news lifted most AI-adjacent companies, but Oracle's fellow hyperscalers were notable underperformers, especially Amazon. Eighty-three basis points of today's return in the SPDR S&P 500 ETF, more than 2x its daily gain, was attributable to Oracle and the two leading US chip designers, Nvidia and Broadcom. Tech, utilities, and energy were the top-performing S&P 500 sector ETFs, while consumer staples and healthcare were laggards. The Nasdaq 100 (which doesn't have Oracle as one of its members) barely broke even, while the Russell 2000 gave back 0.2%. Synopsys shares dropped nearly 36% after the chip designer missed top- and bottom-line estimates for the third quarter, as US export curbs hurt its business in China. Chewy fell nearly 17%, despite the online pet retailer posting stronger-than-expected Q2 results and hiking its sales guidance for the year. US-listed ADRs of Chinese EV maker Nio sank 8.7% as investors braced for $1 billion in share dilution from a secondary offering. GameStop jumped 3.4%, building on its post-earnings gains, after the video game and collectibles retailer posted an impressive set of second-quarter results, with continued strength in its collectibles business. Joby Aviation shares were up as much as 7% in premarket trading before settling down 1.1% following news that Uber will add the company's Blade helicopter and seaplane services to its app as soon as next year. Hims & Hers was flat as the company announced it had expanded into testosterone treatments after teasing the new category earlier this year. — Luke Kawa, Markets Editor & Nia Warfield, Markets Writer Oracle's insane cloud infrastructure forecast is giving shades of Nvidia's data center business But it's just a forecast, of course. Read more. Census data shows drop in large companies using AI AI appears to be everywhere, but that doesn't mean big companies have fully embraced the use of the technology in their day-to-day business. Read more. TODAY'S BIG MOVE Oracle just had its best day in the stock market since 1992 The last time Oracle had a day in the stock market better than this, Whitney Houston's "I Will Always Love You" was early in its 14-week run atop the Billboard Hot 100 chart. Read more. Apple AI was MIA at iPhone event A year and a half into a bungled rollout of AI into Apple's products, Apple Intelligence was barely mentioned at the "Awe Dropping" event. As tariffs take root, August new vehicle prices climb by the most in more than 2 years According to data from Cox Automotive, 17 vehicle brands raised prices of their new vehicles by more than 3% in August. Netflix taps Amazon to sell streaming ads in new partnership Starting this fall, brands will be able to access Netflix's premium ad slots using Amazon's buying tech. Asset Entities to merge with Ramaswamy's Strive and launch bitcoin treasury Shares of the company skyrocketed on the announcement. The gap between America's notion of the ideal family size and the actual reality is getting wider Americans think somewhere around three kids is ideal. The fertility rate has some serious catching up to do. Bank branches are still closing at breakneck speed in the US Institutions like Chase and Wells Fargo closed 76 locations in just six weeks over the summer, per the OCC. 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