S&P 500 books a fresh record closing high ahead of Nvidia earnings
A milestone before the big event.
The S&P 500 finished with a record close on Wednesday, up 0.2%. The Nasdaq 100 rose 0.2% and the Russell 2000 outperformed with a 0.6% advance.
Energy was the best-performing S&P 500 sector ETF, up more than 1% while healthcare and industrials were the only (very modest) groups to finish in the red.
Gains on the day were led by Albemarle, which jumped 7.5% after Bank of America reiterated its “buy” rating on the stock and set an $84 price target. Declines were led in part by J.M. Smucker, which fell 4.3% after the pantry giant’s fiscal Q1 results undershot Wall Street expectations. Elsewhere…
MongoDB jumped 38% after the database software company posted much better-than-expected fiscal Q2 results before the bell on Wednesday.
Kohl’s shares surged 24% after the department store chain posted blowout second-quarter earnings and tightened its full-year forecast.
Canada Goose shares soared 16.1% following reports that controlling shareholder Bain Capital is exploring a sale of the luxury parka maker.
American Eagle shares rebounded, climbing 8.6% after announcing a collaboration with Kansas City Chiefs tight end Travis Kelce (aka Taylor Swift’s fiancé) through his Tru Kolors clothing brand. Meanwhile, Signet Jewelers gained 6.3%, extending Tuesday’s brief pop on the stars’ engagement news.
Cracker Barrel shares jumped 8% after the Southern-themed restaurant chain switched its logo back to the original design following a flood of backlash from fans.
Krispy Kreme shares fell 3.5% after JPMorgan downgraded its rating on the stock to “underweight” (sell) from “neutral,” citing doubts about the company’s turnaround strategy.
Abercrombie & Fitch shares dipped 1.3% after the mall retailer posted a Q2 beat and hiked its full-year forecast while warning of a bigger tariff hit.
PayPal shares fell in premarket trading but closed largely flat following reports that the fintech company faced payment disruptions in Germany.
