Bear going for fruit (Armen Nimani/Getty Images)

S&P 500 extends losing streak to five sessions

The benchmark US index tied its longest losing streak since April 2024.

8/21/25 4:25PM

The S&P 500 fell 0.4% and the Nasdaq 100 gave back 0.5% while the Russell 2000 outperformed with a 0.2% advance. The benchmark US index has now declined for five straight sessions, tying its longest losing streak since April 2024.

Every S&P 500 sector ETF declined outside of the commodity-linked energy and materials groups, with consumer staples faring the worst. That was in large part due to Walmart, which dropped 4.5% after the mega retailer missed quarterly earnings expectations for the first time in three years. Declines were led by First Solar, which fell 7%.

Paramount Skydance was a bright spot on the tape, jumping 14.6% as call option activity surged. Separately, the newly formed media giant is facing scrutiny in Washington.

Meta shares fell about 1.2% after The Wall Street Journal reported that the tech giant is freezing new AI hires without express permission from the company’s chief AI officer.

Coty shares sank 21.4% as investors digested the beauty conglomerate’s disappointing Q4 results, including a surprise profit loss.

Shares of Cracker Barrel dipped 7% as the Southern-themed restaurant chain’s new minimalist logo design sparked a flood of criticism from fans online.

Hertz shares fell 2.5% after Congress requested a meeting with officials to discuss the company’s controversial use of AI damage scanners.

Nio shares rose 9% following the popular Chinese EV maker unveiling the latest model of its ES8 electric SUV, which has begun presales.

HP Enterprise shares were up 3.7% after Morgan Stanley upgraded the stock, raising its rating to “overweight” (or buy) from “neutral,” and hiked its its price target to $28 from $22.

CoreWeave shares were up as much as 3% in premarket trading before closing the day largely flat, after quantitative trading and market-making firm Jane Street revealed a 5.4% stake in the company.

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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.

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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.”

S&P 500 extends losing streak to five sessions

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SpaceX gets a wave of bullish ratings from Wall Street analysts

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

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