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Stocks tumble with Nasdaq 100 posting largest weekly loss since April tariff sell-off

Fridays have been the worst day for the S&P 500 since the war began.

3/27/26 4:06PM

The ongoing Mideast war continues to leave investors jittery and unwilling to hold stocks over the weekend.

The S&P 500, Nasdaq 100, and Russell 2000 all suffered heavy losses on Friday, with the tech-heavy gauge down nearly 2% as front-month West Texas Intermediate futures climbed toward $100 per barrel.

Since the initial US-Israeli strikes against Iran, the final two trading days of the week have been the worst for the S&P 500, with the steepest drops coming on Fridays. Traders have tended to build in a risk premium ahead of the weekend — when they’d be unable to react to any potential escalation in the war — before reversing some of that move at the start of the next week.

Moving higher:

Energy shares continues to benefit from rising crude oil prices, with gas driller APA Corporation, oil field services company Halliburton, and integrated giant Exxon gaining.
Consumer staples stocks such as Campbell’s, Altria, Kraft Heinz, and McCormick rallied as traders flocked to a sector known for relative safety during rough economic periods.
Entergy rose after making a deal with Meta to fund the creation of seven natural gas-fired power plants. The news also boosted other AI-linked utilities plays, including Constellation Energy, Vistra, and NRG.
Argan spiked on a massive Q4 sales beat after reaching “substantial completion” on its Trumbull Energy Center project early.
Unity Software rose following strong Q1 preliminary results and news it will exit its nonstrategic ad business.
Peloton jumped after EMJ Capital’s Eric Jackson said he was long the fitness company at $4.

Moving lower:

Cyber stocks Palo Alto Networks, CrowdStrike, Cloudflare, Fortinet, Zscaler, and Okta plunged after a leaked document stirred concern that Anthropic’s new model will enable indefensible online attacks.
Crypto, which had shown some resilience to the general market downturn, turned sharply negative on Friday, with Bitcoin sinking and altcoins from ethereum to XRP roundly suffering.
Consumer discretionary stocks sank. Cruise lines Norwegian, Royal Caribbean, and Carnival all fell. Less oil-exposed bellwethers like Airbnb, DoorDash, and Starbucks also slipped.
Fundrise Innovation Fund plummeted for the second session in a row amid valuation gap concerns.

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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%

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7/1/26

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

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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 tumble with Nasdaq 100 posting largest weekly loss since April tariff sell-off

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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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