S&P 500 closes at a new all-time high despite a slide in AI stocks
It was the 37th record closing high of 2025 for the benchmark index.
Both the S&P 500 and Russell 2000 set new all-time closing highs. Technology was the worst-performing sector ETF as Oracle’s underwhelming results kneecapped the AI trade, sending the Nasdaq 100 lower.
Stocks that moved higher:
Health insurers Ciena Corp., Elevance Health, UnitedHealth, Molina Healthcare, Oscar Health, and Centene rose after the Senate GOP’s proposal to replace ACA subsidies with HSAs failed.
Planet Labs notched a new record closing high after the satellite services company posted better-than-expected quarterly results and guided toward higher-than-expected sales for the current quarter.
PetMed Express skyrocketed after disclosing a $4-per-share buyout offer from Singapore investment firm SilverCape Investment.
Eli Lilly rose after its next-generation obesity drug delivered strong weight loss results in a late-stage study.
Disney ticked higher as it announced a $1 billion investment in an OpenAI deal that brings its characters to AI video platform Sora.
Stocks that moved lower:
Shares of Oracle plummeted after a headline beat on earnings was overshadowed by softer revenue. The nasty reception to Oracle’s results cascaded through the AI trade, sending AI chip behemoths Nvidia and Broadcom; neocloud CoreWeave; infrastructure providers Vertiv Holdings and GE Vernova; and server companies Super Micro Computer, HP Enterprise, and Dell lower.
It was a bad day for the event coordination team at Rivian , as investors dumped the stock on its “Autonomy and AI Day” amid the broader AI trade sell-off.
Alphabet sank on a string of bad news, including comments from OpenAI CEO Sam Altman, who said Google’s much-touted Gemini 3 model “had less of an impact on our metrics than maybe we feared.”
Budget airline stocks Frontier and JetBlue slipped after Spirit pilots ratified a contract that will help it stay afloat.
Stellantis dropped after being cut to "underperform" at BNP Paribas, whose analysts lowered its price target to $9.14 from $10.14.
Robinhood Markets tumbled after November trading volumes dropped across equities, options, and crypto. (Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company.)
