Stocks dip in widespread pullback
The S&P 500 fell 0.4%, the Nasdaq 100 gave back 0.3%, and the Russell 2000 was at the bottom of the pack with a decline of about 1%.
After stocks ended last week with their best day in months, they took a breather today, ending near session lows.
The S&P 500 fell 0.4%, the Nasdaq 100 gave back 0.3%, and the Russell 2000 was at the bottom of the pack with a decline of about 1%.
Within the S&P 500, there were 299 more losers than gainers, the most broadly negative day in over a month.
Defensive pockets of the stock market were among the hardest hit, with consumer staples, healthcare, and utilities S&P sector ETFs all down more than 1%.
Seagate was among the day’s bright spots, up about 3% after Cantor Fitzgerald reiterated its “buy” rating on the chipmaker and stuck a $175 price target on the stock. Meanwhile, Keurig Dr Pepper shares tumbled 11% after announcing an $18 billion acquisition and a planned split-up of its coffee business from other drinks. Elsewhere…
Home goods retailers Wayfair, RH, and Williams-Sonoma all dipped lower following President Trump’s Friday post on Truth Social threatening to impose tariffs on US furniture imports.
CSX shares fell 5.2% after Warren Buffett told CNBC that his railroad, BNSF, would not acquire the company, following months of buyout rumors.
American Eagle slid 2.6% after Bank of America downgraded the stock and cut its price target, warning that the retailer’s Sydney Sweeney boost won’t be enough to offset tariffs.
Canadian cannabis companies Tilray, Canopy Growth, and SNDL rallied as momentum around cannabis rescheduling picks up.
Nvidia shares were up as much as 2% before finishing the day up 1% after the chipmaker formally unveiled the Jetson Thor, a platform for physical AI and robotics that it calls a “robot brain.”
Rocket Lab rose 6.4% after the aerospace manufacturer announced plans Friday to expand its US manufacturing base to produce parts for sensitive national-security-related missions.
Roblox closed up 6.2% following a weekend that reportedly saw more than 45 million concurrent players on the popular gaming platform, a record.
Aehr Test Systems soared 35.6% after the semiconductor testing equipment maker said a major hyperscaler has ordered even more of its systems to appraise their AI processors.
