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.
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.
