S&P 500 ends the week with record closing high
What’s up? Stocks up.
A softer-than-expected CPI inflation report for September sent stocks off to the races on Friday, with the S&P 500 and Nasdaq 100 setting fresh intraday and closing record highs.
The benchmark US stock index closed up 0.8%, the Nasdaq 100 gained 1%, and the Russell 2000 advanced about 1.2%.
Tech, utilities, and financials were the big winners among S&P 500 sector ETFs.
Stocks that moved higher:
Ford rallied to a 52-week high as investors are optimistic about its EV reset and aluminum plant recovery plan.
Google rose on the official announcement of a deal with Anthropic worth “tens of billions of dollars.”
Grindr soared after it disclosed a take-private proposal that would value the company at $18 per share.
Data center and AI energy stocks such as IREN, Cipher Digital, Oklo, Bloom Energy, Constellation Energy, Talen Energy, and Vistra were energized by reports that the Trump administration is pushing for data centers to access power faster.
Opendoor Technologies surged on bullish options bets as traders heard unconfirmed rumors of potential real estate tokenization ahead.
Stocks that moved lower:
Ugg maker Deckers had an ugly day as its cautious full-year outlook compounded its miserable year, sending shares lower.
A bad news twofer drove Alaska Airlines lower after Q3 profits missed expectations and an IT outage grounded its flights across the US.
Beyond Meat reported preliminary Q3 sales ahead of Wall Street’s expectations, which initially excited investors... but then the stock completely reversed course to finish down double digits.
