Yiwen Lu10/30/24

Stocks edge lower as semi companies tumble

The S&P 500 finished Wednesday down 0.3%. The Nasdaq 100 retreated 0.8%, while the Russell 2000 lost 0.2%.

Among megacaps, Alphabet gained the most following a blockbuster earnings report, up 2.8%, leading the Magnificent 7. Meta retreated 0.3%, while Microsoft advanced a slight 0.1% — both reported earnings after the bell.

Sector performance was mixed. The technology sector came in last among all S&P 500 sectors, thanks to Super Micro Computer and Qorvo. Super Micro, once an AI darling, lost a whopping 32.7% after its auditor resigned. The stock has given up most of its gains so far this year. Qorvo, a chipmaker for smartphones, lost 27.3% after issuing a weak guidance for the next quarter as its customers shifted toward cheaper products.

In other corporate news, Eli Lilly tanked 6.3% after it told investors that revenues from its popular weight-loss drugs were not as high as Wall Street expected. Wingstop plunged 21.4% as earnings fell short of estimates. Brinker climbed 7.5%, as consumers — and presumably kids from TikTok — feasted at Chili’s. Chipotle extended its loss of 7.9% from Tuesday’s after-hours trading.

Lastly, with the election nearing,Trump Media & Technology Group fell more than 20% after three consecutive gains.

Treasury yields went up. Policy-sensitive 2-year yields rose six basis points to 4.17%, while 10-year yields neared 4.3%. The latest GDP report showed that the US economy expanded at a 2.8% annual rate in the third quarter, driven by resilient consumer spending.

More Markets

See all Markets

Meet the newly public, Bezos-backed company that’s recreating the sun and stars

General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

Web Summit Vancouver 2026 - Day Three

markets

J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

Floridians Seek Employment Opportunities At Job Fair In Sunrise

Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

markets

Paige Oamek6/30/26

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

Latest Stories

Sherwood Media, LLC and Chartr Limited produce fresh and unique perspectives on topical financial news and are fully owned subsidiaries of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, Robinhood Money, LLC, Robinhood U.K. Ltd, Robinhood Derivatives, LLC, Robinhood Gold, LLC, Robinhood Asset Management, LLC, Robinhood Credit, Inc., Robinhood Ventures DE, LLC and, where applicable, its managed investment vehicles.

©2026 Sherwood Media, LLC