S&P 500 closes at record despite Nvidia’s post-earnings dip
A fresh record close for the benchmark US stock index.
The S&P 500 posted another record close, rising 0.3% on Thursday. That’s despite the biggest stock in the world, Nvidia, falling a little less than 1% after reporting solid but unspectacular Q2 results.
The Nasdaq 100 outperformed with a 0.6% advance while the Russell 2000 rose 0.2%.
Tech was the best-performing S&P sector ETF, while defensive pockets of the market like utilities, consumer staples, healthcare, and real estate all declined.
Gains on the day were led by Datadog and Fair Isaac, which rose 7% and 6.2%, respectively. Hormel Foods was at the bottom of the S&P 500’s leaderboard, sinking 13% after the company missed Q3 earnings estimates and warned that higher commodity price were weighing on profits. Elsewhere…
Pure Storage shares soared 32%, just inches from a record high, after the data storage company issued a beat-and-raise Q2 earnings report.
Build-A-Bear soared 14.7% after posting record Q2 earnings and revenue, raising its outlook as it opens more than a dozen new stores and scales back promotions.
CoreWeave climbed 6% after Nvidia’s light Q2 data center miss was chalked up to supply constraints, a positive for CoreWeave, which provides overflow GPU access.
Burlington Stores shares jumped 5.4% after the off-price retailer reported second-quarter results that beat Wall Street forecasts and raised its full-year guidance.
Victoria’s Secret shares rose as much as 9% before ending flat after the intimates retailer posted strong Q2 results and raised its full-year sales outlook. Similarly...
Dollar General rose as much as 2% before closing flat after the discount chain crushed Q2 earnings and boosted its full-year profit guidance.
Best Buy shares fell 3.7% after the electronics retailer delivered a solid Q2 as shoppers picked up more gadgets, but held its full-year guidance steady as tariffs loom.
Bath & Body Works shares fell 6.9% after the lotion and soap maker posted mixed Q2 results, with shoppers still stocking up but rising administrative and store costs eating into profits.
