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Stocks fall again, but finish well off their lows

The S&P 500 gave back 0.2%, the Nasdaq 100 underperformed with a 0.6% drop, and the Russell 2000 dipped 0.3%.

8/20/25 4:29PM

What was shaping up to be a repeat of Tuesday’s AI momentum wreck seemingly turned on a dime into another buy-the-dip moment. Though major indexes all retreated on the session, they turned around sharply shortly before 11 a.m. ET to finish well off their lows. The S&P 500 gave back 0.2%, the Nasdaq 100 underperformed with a 0.6% drop, and the Russell 2000 dipped 0.3%.

Consumer discretionary, tech, and communication services — the sector ETFs home to the Magnificent 7 cohort — were the worst-performing S&P 500 groups on the day.

Analog Devices was the biggest gainer in the S&P 500, rising 6.3% after posting stronger-than-expected Q3 results. Intel led declines, falling 7% and reversing Tuesday’s gains on reports that the Trump administration may seek equity in chipmakers that receive federal grants under the Biden era CHIPS Act. Elsewhere...

Target sank 6.3% after the retailer topped Q2 estimates but reiterated expectations for a sales drop this year. The company also announced that longtime CEO Brian Cornell will step down.

Shares of Micron fell 4% after the Seoul Economic Daily said that Samsung Electronics’ new memory chip “passed reliability testing” from Nvidia and is poised to enter the preproduction stage.

Estée Lauder tumbled 3.6% after the MAC and Bobbi Brown parent matched Q4 estimates but painted a tougher profitability outlook over the coming year.

Airbus shares were down 2.2% as thousands of UK union workers plan to strike for 10 days in September amid a contract dispute.

CoreWeave fell 1.4% after filings showed top shareholder Magnetar Financial has sold over $147 million worth of shares since the company’s post-IPO lockup period expired.

Hertz rose 6% after the rental car giant announced it will begin selling some of its more than 540,000 used vehicles on Amazon. Conversely, Carvana and CarMax fell 1.6% and 2.6%, respectively, on the news.

TJX shares climbed 2.7% and hit an all-time high after the T.J. Maxx and HomeGoods parent topped Q2 estimates and raised its full-year forecast.

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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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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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7/1/26

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.

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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 fall again, but finish well off their lows

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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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