10/10/24

US stocks pull back from record after inflation data

The S&P 500 slid 0.2% after rallying to another record high on Wednesday. The Nasdaq 100 was down 0.1%, while the Russell 2000 was down 0.6%.

Economic data released on Thursday morning showed higher-than-anticipated inflation alongside a softening labor market. The headline consumer price index was 2.4% more than a year ago, a drop from last month’s 2.5% but was still more than Wall Street expected. The weekly jobless claims surged to the highest level since August 2023 due to the impact of Hurricane Helene as well as the Boeing strike.

Yields on 10-year Treasury bonds, which affect mortgage rates and other consumer borrowing costs, rose slightly to above 4%. The 2-year Treasury yields, which are more sensitive to policy changes like interest rate cuts, were down. Traders are now pricing in a slightly higher chance of a 25-basis-point rate cut during the Federal Reserve’s November meeting compared to Wednesday.

Most S&P 500 sectors retreated, but the energy sector logged a 0.7% gain. It joined an oil rally that pushed crude oil prices up after two straight sessions of losses, as Israeli troops reportedly fired at UN peacekeepers in Lebanon. The US benchmark WTI crude future settled up 3.6%, while the global benchmark Brent crude climbed 3.7% at settlement.

Megacap stocks were mixed. Nvidia was up 1.6%, while Tesla fell 1%, hours before a long-awaited robotaxi event.

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Nia Warfield, Luke Kawa

S&P 500 goes nowhere, Nasdaq 100 hits another record, small-caps tumble

Warner Bros. Discovery led gains for the second day in a row, and only three S&P 500 sector ETFs finished in the green.

Horse Ranch In Zhangye

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23h

Rocket lab soars to new record close amid rally for retail faves

Rocket Lab ripped by roughly 10% Friday to close at a new all-time high, riding an upturn of retail enthusiasm for a coterie of tech-themed favorites, even as the broader market was more or less flat on the day.

Goldman Sachs’ basket of “retail favorites” — its heaviest weights are Reddit, AppLovin, and Tempus AI — was the second-biggest gainer among the company’s flagship US equity baskets on Friday, rising about 1.6%. The S&P was almost dead flat.

It’s not Rocket Lab’s first retail rodeo, as the money-losing company has more than doubled this year and is up nearly 700% over the last 12 months.

Oracle Wall Street Revisions

Analysts revise up anything and everything they thought about Oracle

After the company’s bombshell earnings this week, Wall Street thinks Oracle’s trajectory has changed.

Matt Phillips9/12/25

markets

9/12/25

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 ended August 31 saw 17.8 million guests, up about 2% from the same stretch last year, 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 about 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 signed 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 about 52% year to date.

markets

9/12/25

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.

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