The Charging Bull sculpture in New York City’s Financial District symbolizes a rising stock market

Stocks cruise higher in another widespread rally

The S&P 500’s advance-decline line was above 300 for back-to-back sessions for the first time since mid-April.

8/13/25 4:43PM

The S&P 500 barely spent a minute in the red all day, rising 0.3% to secure another record closing high. The Nasdaq 100 lagged, barely breaking even, while small-caps surged as the Russell 2000 advanced 2%.

It’s the first time the S&P 500’s advance-decline line has ended above 300 for back-to-back sessions since mid-April, when global stocks were shaking off their tariff-induced drubbing.

Every S&P 500 sector ETF finished in the green with the exception of consumer staples, which closed flat. The biggest advancers included commodity-linked stocks in the energy and materials sectors as well as healthcare.

Gains on the day were led by Warner Bros. Discovery, which saw its shares jump 7.4% after unveiling a new streaming deal with HBO Max and Viu, a leading streamer in the South Asian market. Meanwhile, DoorDash led declines, falling 3.8% after Amazon said it would now offer same-day delivery on thousands of perishable groceries nationwide. Shares of rival Instacart as well as grocers including Walmart, Albertsons, and Kroger also fell on the news.

Gildan Activewear and Hanesbrands jumped 12% and 3.8%, respectively, after Gildan said it would buy Hanes in a $2.2 billion deal. Including Hanes’ debt, the transaction is valued at $4.4 billion.

Capri Holdings leapt 12% after JPMorgan upgraded shares of the Michael Kors parent company, citing its push to ditch discounts, streamline stores, and sharpen the brand’s luxury appeal.

Rigetti Computing shares were up 6.4%, even as the quantum computing company delivered lower-than-expected Q2 revenue after the bell Tuesday.

Brinker shares popped as much as 5% in early trading before closing up 1.5% after the Chili’s and Maggiano’s parent posted strong Q4 results and a tasty full-year outlook.

CoreWeave shares sank 21% after Bank of America cut its price target on the stock to $168 from $185 after the supplier of surge capacity for AI computers reported Q3 results on Tuesday.

Cava shares slid another 17% after the fast-casual Mediterranean chain reported sales that missed Wall Street expectations on Tuesday and slashed its outlook.

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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.

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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.”

Stocks cruise higher in another widespread rally

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SpaceX gets a wave of bullish ratings from Wall Street analysts

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

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