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Stocks dip in widespread pullback

The S&P 500 fell 0.4%, the Nasdaq 100 gave back 0.3%, and the Russell 2000 was at the bottom of the pack with a decline of about 1%.

Nia Warfield, Luke Kawa

8/25/25 4:42PM

After stocks ended last week with their best day in months, they took a breather today, ending near session lows.

The S&P 500 fell 0.4%, the Nasdaq 100 gave back 0.3%, and the Russell 2000 was at the bottom of the pack with a decline of about 1%.

Within the S&P 500, there were 299 more losers than gainers, the most broadly negative day in over a month.

Defensive pockets of the stock market were among the hardest hit, with consumer staples, healthcare, and utilities S&P sector ETFs all down more than 1%.

Seagate was among the day’s bright spots, up about 3% after Cantor Fitzgerald reiterated its “buy” rating on the chipmaker and stuck a $175 price target on the stock. Meanwhile, Keurig Dr Pepper shares tumbled 11% after announcing an $18 billion acquisition and a planned split-up of its coffee business from other drinks. Elsewhere…

Home goods retailers Wayfair, RH, and Williams-Sonoma all dipped lower following President Trump’s Friday post on Truth Social threatening to impose tariffs on US furniture imports.

CSX shares fell 5.2% after Warren Buffett told CNBC that his railroad, BNSF, would not acquire the company, following months of buyout rumors.

American Eagle slid 2.6% after Bank of America downgraded the stock and cut its price target, warning that the retailer’s Sydney Sweeney boost won’t be enough to offset tariffs.

Canadian cannabis companies Tilray, Canopy Growth, and SNDL rallied as momentum around cannabis rescheduling picks up.

Nvidia shares were up as much as 2% before finishing the day up 1% after the chipmaker formally unveiled the Jetson Thor, a platform for physical AI and robotics that it calls a “robot brain.”

Rocket Lab rose 6.4% after the aerospace manufacturer announced plans Friday to expand its US manufacturing base to produce parts for sensitive national-security-related missions.

Roblox closed up 6.2% following a weekend that reportedly saw more than 45 million concurrent players on the popular gaming platform, a record.

Aehr Test Systems soared 35.6% after the semiconductor testing equipment maker said a major hyperscaler has ordered even more of its systems to appraise their AI processors.

Luke Kawa

4 charts that show the speculative boom is back on

We’re so back.

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The Future of the AI boom is coming into view

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GEV’s backlogs are bursting at the seams. One analyst told us he thinks that by the end of this year, GEV could be completely sold out of production capacity for heavy-duty turbines until 2029 or 2030.

Matt Phillips8m

Max Knoblauch10m

Low-cost airlines plunge on report Trump administration is close to $500 million rescue deal for Spirit

Low-budget US airlines are sinking on Wednesday morning following a Wall Street Journal report that the Trump administration is close to making a rescue deal for Spirit Airlines, which is said to be nearing liquidation amid high fuel costs.

Shares of Frontier, Allegiant, JetBlue, and Southwest Airlines all dropped notably.

Per the WSJ, the US government could soon loan Spirit up to $500 million in return for warrants to take a sizable stake in the airline, which has filed for bankruptcy twice since late 2024. The carrier has made efforts to emerge from its latest bankruptcy, filed in August, but fuel costs amid the war in Iran have upset the math.

On Tuesday, President Trump told CNBC he would “love somebody to buy Spirit.”

Exclusive | Trump Administration Nearing Rescue Deal for Spirit Airlines

On Tuesday, President Trump told CNBC he would “love somebody to buy Spirit.”

Max Knoblauch4h

Boeing reports better-than-expected Q1 earnings, revenue

Plane maker Boeing reported its first-quarter earnings before the market opened on Wednesday. Its shares climbed more than 3% in premarket trading.

For Q1, Boeing reported:

An adjusted loss of $0.20 per share, compared to the loss of $0.68 per share expected by Wall Street analysts polled by FactSet.
Revenue of $22.22 billion, compared to estimates of $21.85 billion.

Boeing reported -$1.45 billion in free cash flow in Q1, compared to the -$2.34 billion expected by Wall Street. Prior to Wednesday, Boeing had reported two consecutive quarters of positive FCF following six straight quarters of negative results. The company is still guiding for full-year FCF of between $1 billion and $3 billion.

Earlier this month, Boeing announced it had delivered 143 commercial jets in Q1, up 10% from the same period last year and ahead of rival Airbus, which delivered 114. This was Boeing’s first time outdelivering Airbus since 2018.

Matt Phillips4h

GE Vernova, top AI energy play, rises after Q1 report

GE Vernova, a maker of power plant equipment that’s seen orders tied to data centers surge, rose early Wednesday after posting strong Q1 results and lifting full-year sales guidance. The GE spin-off reported:

Adjusted EBITDA of $896 million vs. the $772 million estimate from analysts polled by FactSet.
Total revenue of $9.34 billion vs. the $9.25 billion consensus expectation from analysts polled by FactSet.
Full-year 2026 sales guidance that was lifted to between $44.5 billion and $45.5 billion from prior guidance of between $44 billion and $45 billion, vs. the consensus estimate of $44.64 billion.

“In the quarter, our electrification segment booked $2.4 billion in equipment orders to support data centers, more than all of last year,” said CEO Scott Strazik.

GE Vernova is up some 600% over the last two years through Tuesday’s close, but the majority of those gains were booked by August 2025. After being largely range-bound for months, the stock busted out following the company’s last earnings report, lifting the shares up nearly 50% in 2026.