4/9/25

US stocks book largest gains since 2008 as Trump dials down tariffs

Forget last week — this Wednesday was the real Liberation Day. President Donald Trump watered down his reciprocal tariffs for 90 days on countries that haven’t issued retaliatory tariffs while upping levies on imports from China to 125%, kicking off a face-ripping rally on Wall Street.

The S&P 500 rose 9.5%, the Nasdaq 100 gained 12%, and the Russell 2000 marched 8.7% higher. It was the best day for the benchmark US stock index since October 28, 2008, and the largest gain for the tech-heavy gauge since October 13, 2008.

More than 30 billion shares changed hands across all US exchanges, a record, while 485 S&P 500 constituents rose, the most since October 4, 2022. A handful of stocks have recouped all their losses since last week’s Rose Garden tariff announcements.

The Magnificent 7 all outperformed the market, led by a 22% gain for Tesla and near 19% advance for Nvidia.

There was clear panic buying at play, too: a basket of US stocks with the biggest sales exposure to China had its second-best session on record on a day where China slapped the US with 84% tariffs and the US re-upped its duties in response.

Retail stocks ramped, as even if they still have exposure to China, they’ll get a break with the drops on tariffs for the likes of Vietnam and others in the region.

Airlines went skyward, with Delta, United, and American rising more than 20%, even as Delta withdrew its guidance.

Walmart performed roughly in line with the market after maintaining its full-year outlook while withdrawing its Q1 operating income guidance.

Bitcoin rose just as much as the S&P 500 on the day.

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Nia Warfield, Luke Kawa

S&P 500 goes nowhere, Nasdaq 100 hits another record, small-caps tumble

Warner Bros. Discovery led gains for the second day in a row, and only three S&P 500 sector ETFs finished in the green.

Horse Ranch In Zhangye

markets

9/12/25

Rocket lab soars to new record close amid rally for retail faves

Rocket Lab ripped by roughly 10% Friday to close at a new all-time high, riding an upturn of retail enthusiasm for a coterie of tech-themed favorites, even as the broader market was more or less flat on the day.

Goldman Sachs’ basket of “retail favorites” — its heaviest weights are Reddit, AppLovin, and Tempus AI — was the second-biggest gainer among the company’s flagship US equity baskets on Friday, rising about 1.6%. The S&P was almost dead flat.

It’s not Rocket Lab’s first retail rodeo, as the money-losing company has more than doubled this year and is up nearly 700% over the last 12 months.

Oracle Wall Street Revisions

Analysts revise up anything and everything they thought about Oracle

After the company’s bombshell earnings this week, Wall Street thinks Oracle’s trajectory has changed.

Matt Phillips9/12/25

markets

9/12/25

Six Flags pops after reiterating its guidance as theme park attendance rebounds

Six Flags shares rose more than 7% today after the company reported a rebound in attendance and early season pass sales heading into the fall. The nine-week period ended August 31 saw 17.8 million guests, up about 2% from the same stretch last year, with stronger momentum in the final four weeks.

More importantly, Six Flags reaffirmed its full-year adjusted EBITDA guidance of $860 million to $910 million, showing confidence that its cost and operations strategy can stay strong for the duration of the year. Riding that wave, Six Flags also said early 2026 season pass unit sales are pacing ahead of last year, and average season pass prices are up about 3%.

The good vibes come despite a drop in in-park per-capita spending, especially from admissions, where promotions and changes to attendance mix (which parks or days guests visit) have weighed. Earlier this week, the amusement giant signed a new agreement that extended its position as the exclusive amusement park partner for Peanuts™ in North America through 2030.

Despite the rally, Six Flags shares are down about 52% year to date.

markets

9/12/25

Rivian turns red on the year, squeezed by a recall and the looming end of the EV tax credit

Shares of EV maker Rivian are down more than 5% on Friday following the company’s recall of 24,214 vehicles due to a software issue. The stock move erases Rivian’s year-to-date gain and turns the company negative on the year.

Rivian’s 2025 model year R1S and R1T are affected by the defect, which was identified after a vehicle’s hands-free highway assist software failed to identify another vehicle on the road, causing a low-speed collision. Rivian said it’s released an over-the-air update to fix the issue.

The recall marks Rivian’s fifth this year, affecting nearly 70,000 of its vehicles.

Rivian’s shares are down more than 20% from their 2025 high, which came prior to the passage of President Trump’s “big, beautiful bill.” Through the legislation, the $7,500 EV tax credit is set to expire at the end of the month.

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