Nia Warfield, Luke Kawa5/12/25

US stocks surge on trade truce with China

The US and China agreed to substantially dial down tariffs levied on one another for 90 days, a major de-escalation in the most important front of the trade war that’s whipsawed global markets.

The S&P 500 gained 3.3%, the Nasdaq 100 surged 4%, and the Russell 2000 rose 3.5% on the day, with traders bidding up shares of companies that had seen profit estimates slashed since the end of March in expectation of a recovery.

Monday’s rally sparked a wave of big movers, with NRG Energy, Stanley Black & Decker, and manufacturing giant Zebra Technologies leading S&P 500 gains. On the flip side, Cigna, Newmont Mining, and CVS landed among the day’s top decliners. Also of note:

Amazon and Apple, the megacap tech names with the most skin in the game regarding China, also jumped on the truce announcement, with the stocks up 8% and 6%, respectively.

Shopify soared nearly 14%, helping lead the day’s broader rally as the e-commerce giant gears up to join the Nasdaq 100 next Monday.

Cruise stocks Carnival, Norwegian Cruise Line, and Royal Caribbean climbed alongside the broader travel sector on hopes that a US-China tariff truce could boost consumer sentiment. Airlines gained altitude too, with American Airlines, Delta, and United Airlines all up more than 5% on the day

Pharma stocks including Pfizer, AbbVie, and Eli Lilly dipped in early trading after President Trump floated an executive order to curb drug pricing — but were all positive at the close.

Retailers like Sally Beauty, Five Below, Warby Parker, and Victoria’s Secret rallied on trade relief hopes. The sector has been one of the hardest hit by tariff tensions since China is a key manufacturing hub.

CoreWeave jumped 13% ahead of its first earnings report since going public. The newly IPO’d cloud computing player has seen a strong appetite for upside in the options market.

More Markets

See all Markets

Meet the newly public, Bezos-backed company that’s recreating the sun and stars

General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

Web Summit Vancouver 2026 - Day Three

markets

J. Edward Moreno7/7/26

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.

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.

Floridians Seek Employment Opportunities At Job Fair In Sunrise

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.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

markets

Paige Oamek6/30/26

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.”

Latest Stories

Sherwood Media, LLC and Chartr Limited produce fresh and unique perspectives on topical financial news and are fully owned subsidiaries of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, Robinhood Money, LLC, Robinhood U.K. Ltd, Robinhood Derivatives, LLC, Robinhood Gold, LLC, Robinhood Asset Management, LLC, Robinhood Credit, Inc., Robinhood Ventures DE, LLC and, where applicable, its managed investment vehicles.

©2026 Sherwood Media, LLC