S&P 500 closes lower after notching new intraday high
The Nasdaq 100 eked out a small gain, while the Russell 2000 fell.
The S&P 500 closed lower after notching a new intraday record high. The Nasdaq 100 managed to eke out a small gain, while the Russell 2000 fell.
Investors reviewed mixed employment data, in which the December ADP employment report showed private payrolls rising but the November JOLTS showed jobs openings falling. Friday’s December jobs report could offer more insight into the Fed’s path to easing in 2026.
Stocks that moved higher:
Rare earth stocks MP Materials, Critical Metals, and United States Antimony Corp. rose as the White House confirmed the US is looking at options for acquiring Greenland, including use of military force.
GameStop rose after announcing a long-term performance award for CEO Ryan Cohen.
Compass jumped after a key antitrust waiting period expired for its acquisition of Anywhere Real Estate.
Intel surged to a new 52-week high. While there’s no clear reason to point to for its outperformance, potential catalysts include CES announcements or a deal announcement that Mobileye, the autonomous driving company that Intel holds a significant stake in, will buy humanoid robot maker Mentee for $900 million.
Strategy ticked up after MSCI dropped plans to exclude digital asset firms from its indexes.
Stocks that moved lower:
Homebuilders PulteGroup, Toll Brothers, DR Horton, and Lennar tumbled after President Trump said he wanted to ban institutional investors from buying single-family homes. Blackstone and Invitation Homes, two of the largest owners of private homes in the country, and digital real estate company Opendoor Technologies also fell.
In a Truth Social post, Trump said he won’t permit defense companies to issue dividends or stock buybacks, sending Northrop Grumman, L3Harris Technologies, Lockheed Martin, Huntington Ingalls Industries, and RTX lower.
Imax dipped despite reporting record ticket revenue in 2025 powered by “Avatar: Fire and Ash.”
AST SpaceMobile sank after being cut to “underperform” at Scotiabank.
First Solar fell after Jefferies downgraded the stock to “hold” from “buy” and cut its price target to $260 from $269.
Deckers Outdoor dropped after Piper Sandler cut the stock to “underweight” and lowered its price target to $85 from $100.
Paramount Skydance dipped as the board of Warner Bros. Discovery unanimously rejected Paramount’s offer again.
