Markets
Nia Warfield, Luke Kawa
5/20/25

Broad-based declines end S&P 500’s winning streak

The S&P 500 and Nasdaq 100 spent the whole day in the red, each closing down 0.4%. So ends the more than weeklong winning streak for the benchmark US stock index. The Russell 2000 finished marginally higher.

It was a classic risk-off day — except bond yields rose. Every S&P 500 sector ETF declined outside of consumer staples, utilities, and healthcare, the defensive pockets of the market. Financials and consumer discretionary were the worst-performing sectors.

Every member of the Magnificent 7 declined besides Tesla, which benefited from a media spree from CEO Elon Musk where he said that sales have “already turned around.” Alphabet was the worst member of the cohort as it hosted a developers’ conference.

Moderna led the day’s S&P 500 gainers, popping 6% after the Food and Drug Administration approved its COVID-19 booster shot for people 65 and older or with high-risk conditions. UnitedHealth, a new hot stock among retail traders, continued its recent bounce-back.

Travel stocks were among the larger decliners, including Norwegian Cruise Line, United Airlines, and Airbnb.

Warby Parker shares surged nearly 16% after Google unveiled plans to launch a series of new smart glasses and committed up to $150 million as part of the deal.

Shares of D-Wave Quantum soared 26% after the company announced that its highly anticipated Advantage2 quantum computing system is now available for sale and as a service.

Victoria’s Secret jumped 3% after the lingerie giant adopted a poison pill to fend off activist investor and Australian billionaire Brett Blundy.

Home Depot ticked higher before closing lower after the retailer reported Q1 sales that fell slightly short of Wall Street expectations but reaffirmed its full-year guidance.

Lucid shares rose double digits Tuesday afternoon, marking further progress in the luxury EV maker’s recovery as it boosts delivery numbers and expands to more markets.

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Nia Warfield
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Six Flags pops after reiterating its guidance as theme park attendance rebounds

Six Flags shares rose more than 7% today after the company reported a rebound in attendance and early season-pass sales heading into the fall. The nine-week period ending August 31 saw 17.8 million guests, up about 2% from the same stretch in 2024, with stronger momentum in the final four weeks. 

More importantly, Six Flags reaffirmed its full-year adjusted EBITDA guidance of $860 million to $910 million, showing confidence that its cost and operations strategy can stay strong for the duration of the year. Riding that wave, Six Flags also said early 2026 season pass unit sales are pacing ahead of last year, and average season pass prices are up around 3%.

The good vibes come despite a drop in in-park per capita spending, especially from admissions, where promotions and changes to attendance mix (which parks or days guests visit) have weighed. Earlier this week, the amusement giant extended a new agreement that extended its position as the exclusive amusement park partner for Peanuts™ in North America through 2030.

Despite the rally, Six Flags shares are down around 52% year-to-date.

markets
Max Knoblauch
3h

Rivian turns red on the year, squeezed by a recall and the looming end of the EV tax credit

Shares of EV maker Rivian are down more than 5% on Friday following the company’s recall of 24,214 vehicles due to a software issue. The stock move erases Rivian’s year-to-date gain and turns the company negative on the year.

Rivian’s 2025 model year R1S and R1T are affected by the defect, which was identified after a vehicle’s hands-free highway assist software failed to identify another vehicle on the road, causing a low-speed collision. Rivian said it’s released an over-the-air update to fix the issue.

The recall marks Rivian’s fifth this year, affecting nearly 70,000 of its vehicles.

Rivian’s shares are down more than 20% from their 2025 high, which came prior to the passage of President Trump’s “big, beautiful bill.” Through the legislation, the $7,500 EV tax credit is set to expire at the end of the month.

markets
J. Edward Moreno
3h

Moderna, Pfizer dip after WaPo reports Trump officials’ plan to link Covid vaccines to child deaths

Vaccine makers are falling after The Washington Post reported that the Trump administration plans to link the coronavirus vaccine to 25 child deaths.

Moderna and Pfizer, the two companies who sell the vaccine in the US, fell by more than 5% and 2%, respectively. The coronavirus vaccine is virtually the only revenue driver for Moderna, while Pfizer has a larger and more diverse portfolio.

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Trump officials to link child deaths to covid shots, alarming career scientists

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Concerns about rising government debt are not strictly an American problem

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