Markets
Nia Warfield, Luke Kawa
5/8/25

US stocks climb on trade optimism

Trade optimism fueled another day of gains for US stocks as President Donald Trump trumpeted a trade deal with the UK and raised the prospect of lower tariffs on China.

The S&P 500 rose 0.6%, the Nasdaq 100 rose 1%, and the Russell 2000 led the way with a 1.9% advance.

It was a clear risk-on day: industrials, materials, and energy were the best-performing S&P 500 sector ETFs, while defensive sectors real estate, utilities, consumer staples, and healthcare all fell.

The day’s gains were led by Axon Enterprise, Palantir, and Delta Air Lines. Match Group led the declines, falling 9% after the Tinder parent reported a drop in paid users and announced plans to cut 13% of its workforce.

Boeing climbed 3% following comments made by Commerce Secretary Howard Lutnick that the UK would soon announce a $10 billion order.

Coinbase rose 5% after the crypto trading platform signed a $2.9 billion deal to acquire Deribit, the largest bitcoin options platform, just hours before dropping earnings.

Speaking of earnings...

Quantum computing company D-Wave soared more than 50% after announcing record revenues, with CEO Dr. Alan Baratz optimistic on the outlook for future system sales.

Krispy Kreme shares plunged over 24% after the popular donut chain posted mixed Q1 results, scrapped its quarterly dividend, and hit pause on its McDonald’s partnership.

Nintendo shares sank after the Switch maker wrapped up a rough year on Thursday, reporting a 43% plunge in net profit and a 30% drop in revenue.

Peloton shares felt the burn, dipping nearly 7% after the fitness tech company reported its third straight year-over-year decline in sales in its Q3 results.

Crocs shares jumped nearly double digits after the quirky shoe brand posted a strong first-quarter beat but withdrew its full-year guidance as global trade pressures loom.

Tapestry shares popped almost 4% after the fashion conglomerate posted knockout Q3 results, seeing strong demand for its legacy leather handbag line, Coach.

Warner Bros. Discovery shares jumped nearly 5% after a report from CNBC said the company may split its traditional cable business from its popular streaming platforms.

More Markets

See all Markets
Nia Warfield, Luke Kawa
5h
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
Matt Phillips
6h

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 Phillips7h
markets
Nia Warfield
8h

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
Max Knoblauch
10h

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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