Luke Kawa1/8/25

S&P 500 inches higher as speculative stocks get crushed

US stocks inched higher on Wednesday, with the S&P 500 up and the Nasdaq 100 treading water while the Russell 2000 retreated.

Most S&P 500 sector ETFs rose, with the exception of communication services, tech, and utilities.

Semi stocks slumped, with Advanced Micro Devices a notable decliner after a double downgrade by HSBC.

Oil majors Exxon and Shell retreated after warning that their quarterly earnings would be lower than previously anticipated.

Quantum-computing stocks faced intense selling pressure after Nvidia CEO Jensen Huang suggested that it would take two decades before they were very useful. Rigetti Computing, IonQ, D-Wave Quantum, and Quantum Computing were all slammed.

Other high-flying, thematically oriented stocks like Cerence and SoundHound AI got hammered, as did heavily shorted companies like Plug Power.

Edison International, which operates a California-based utility, suffered its largest one-day decline since March 2020 as wildfires ravage the state. The stock was the worst performer in the S&P 500.

On the other end of the spectrum, eBay was the best-performing member of the benchmark US stock gauge as Meta begins to test allowing users to browse eBay listings on Facebook Marketplace in order to help remedy some antitrust concerns.

More Markets

See all Markets

Credit markets have a “debt” problem, not a “risk” problem

We’re getting a lot of borrowing, and that borrowing is risk-reducing (for now!)

New York City Architecture And Monuments

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

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