Yiwen Lu10/24/24

S&P 500 snaps losing streak as Tesla goes parabolic

The S&P 500 climbed 0.2%, the first time it rose this week. The Nasdaq 100 outperformed and gained 0.8%, while the Russell 2000 was up 0.2%.

Tesla’s 21.9% day led Magnificent 7 stocks and pushed the S&P consumer-discretionary sector ETF higher by 3.2%. It was the stock’s third-best daily gain on record.

Among other sectors, materials select fell 1.2% and was dragged down by earnings miss at Newmont Corp . Shares slid 14.7% and the stock became the biggest S&P 500 laggard of the day.

The market did not have a strong reaction to any of Thursday’s economic data. New-home sales crept higher, likely due to lower mortgage rates during September. Initial jobless claims filed last week fell.

Treasury yields fell modestly for the first time this week. Oil futures settled lower. The dollar weakened.

More on single names: UPS surged 5.3% on the day after the company returned to profit for the first time since the end of 2022. An economic barometer, the shipping company’s solid performance may be a testament to consumer resilience. Molina Healthcare was the second-best-performing S&P constituent on the day, rising 17.7%. Whirlpool Corp. climbed 11.2%, and executives expected demand to pick up after the election.

Conversely, Southwest Airlines slid 5.6% after the airline said it reached a deal with activist investor Elliott Investment Management to keep its CEO. IBM dropped 6.2%, as sales figures failed to impress Wall Street.

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

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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.

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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

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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.”

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