Markets
Luke Kawa
3/5/25

Stocks rebound on auto tariffs delay

Call it the tariff two-step.

Many of the areas of the market most bedeviled by the imposition of tariffs on Mexico and Canada saw large relief rallies on Wednesday after the White House issued a one-month exemption for auto imports.

The S&P 500 rose 1.1%, the Nasdaq 100 gained 1.4%, and the Russell 2000 was up 1%.

Every S&P 500 sector ETF finished higher besides energy and utilities. Materials led the way higher, while healthcare, communication services, tech, consumer discretionary, and industrials all rose by more than 1%.

General Motors, Stellantis, and Ford were standout performers, all up more than 5%.

JetBlue, American Airlines, and United Airlines also advanced about as much thanks to the policy tweak.

Some stocks were also impacted by the president’s address to Congress on Tuesday night:

Intel dropped after Trump called for the CHIPS Act to be scrapped.

On the other hand, Huntington Ingalls Industries sailed higher, as it’s seen as a chief beneficiary of the president’s pledge to revitalize the domestic shipbuilding industry.

Earnings-related reactions of note:

CrowdStrike slumped after its outlook for this year was far worse than any Wall Street analyst anticipated.

Campbell’s fell after slashing its guidance.

Foot Locker’s fourth-quarter earnings per share exceeded expectations, taking the sting out of some lackluster guidance.

It was the opposite story for Abercrombie & Fitch, which tumbled after its earnings outlook for Q1 disappointed, even though its fourth-quarter results were in line with Wall Street’s forecasts.

ChargePoint’s top-line beat was enough to spur a big gain for the stock, even as policy headwinds loom for the EV charging company.

Other movers:

Moderna booked monster gains after reports that insiders made big purchases of the company and a German court ruled that Pfizer violated its Covid vaccine patent.

CEO Alex Karp’s big stock sales weren’t an overhang on Palantir Technologies today, with shares up more than 6%.

Chewy soared after its CFO talked up how the online pet product retailer was benefiting from a “premiumization” trend and Bank of America said it was one of the e-commerce companies most insulated from tariffs.

Alibaba popped higher as China’s leadership placed an even higher priority on boosting domestic consumption.

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markets
Nia Warfield
17m

Six Flags pops after reiterating its guidance as theme park attendance rebounds

Six Flags shares rose more than 7% today after the company reported a rebound in attendance and early season-pass sales heading into the fall. The nine-week period ending August 31 saw 17.8 million guests, up about 2% from the same stretch in 2024, with stronger momentum in the final four weeks. 

More importantly, Six Flags reaffirmed its full-year adjusted EBITDA guidance of $860 million to $910 million, showing confidence that its cost and operations strategy can stay strong for the duration of the year. Riding that wave, Six Flags also said early 2026 season pass unit sales are pacing ahead of last year, and average season pass prices are up around 3%.

The good vibes come despite a drop in in-park per capita spending, especially from admissions, where promotions and changes to attendance mix (which parks or days guests visit) have weighed. Earlier this week, the amusement giant extended a new agreement that extended its position as the exclusive amusement park partner for Peanuts™ in North America through 2030.

Despite the rally, Six Flags shares are down around 52% year-to-date.

markets
Max Knoblauch
2h

Rivian turns red on the year, squeezed by a recall and the looming end of the EV tax credit

Shares of EV maker Rivian are down more than 5% on Friday following the company’s recall of 24,214 vehicles due to a software issue. The stock move erases Rivian’s year-to-date gain and turns the company negative on the year.

Rivian’s 2025 model year R1S and R1T are affected by the defect, which was identified after a vehicle’s hands-free highway assist software failed to identify another vehicle on the road, causing a low-speed collision. Rivian said it’s released an over-the-air update to fix the issue.

The recall marks Rivian’s fifth this year, affecting nearly 70,000 of its vehicles.

Rivian’s shares are down more than 20% from their 2025 high, which came prior to the passage of President Trump’s “big, beautiful bill.” Through the legislation, the $7,500 EV tax credit is set to expire at the end of the month.

markets
J. Edward Moreno
2h

Moderna, Pfizer dip after WaPo reports Trump officials’ plan to link Covid vaccines to child deaths

Vaccine makers are falling after The Washington Post reported that the Trump administration plans to link the coronavirus vaccine to 25 child deaths.

Moderna and Pfizer, the two companies who sell the vaccine in the US, fell by more than 5% and 2%, respectively. The coronavirus vaccine is virtually the only revenue driver for Moderna, while Pfizer has a larger and more diverse portfolio.

Read more

Trump officials to link child deaths to covid shots, alarming career scientists

Hyunsoo Rim
DEVELOPING PROBLEMS
4h
Concerns about rising government debt are not strictly an American problem

Global government debt piles are swelling to record levels. That’s an issue for many nations, but developing countries may be most at risk.

Closeup rolled of variety banknote and multi currency around the world. Exchange rate and Forex investment concept.-Image.
markets
Nia Warfield
4h

RH slips after missing Q2 estimates and trimming its outlook amid cost pressure

Restoration Hardware shares dropped Friday morning after the luxury furniture brand missed Q2 estimates and tightened its full-year outlook.

Adjusted earnings per share came in at $2.93, below the Street’s estimate of $3.21. Revenue was $899.2 million, also missing analysts’ forecast of $905 million.

RH now expects full-year revenue growth of 9% to 11%, down from prior guidance of 10% to 13%, as margins get squeezed by tariffs and weakness in the housing market. Wall Street had been looking for about 10% growth this year.

The retailer is taking steps to blunt cost pressures, including shifting sourcing away from China. RH expects receipts to fall from 16% in Q1 to 2% in Q4, with vendors absorbing a meaningful portion of the tariff impact. RH is also boosting US manufacturing capacity in North Carolina and pushing back a new concept launch to next spring.

RH shares are down about 43% year to date.

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