Luke Kawa3/14/25

Stocks surge by most since day after US election

Well, I guess we can call it an uncorrection, for now.

The S&P 500 closed 10% below its all-time high with a rip-roaring 2.1% gain, its best day since November 6, when investors enthusiastically greeted President Trump’s election victory. The Nasdaq 100 and Russell 2000 did even better, closing up 2.5%.

However, it was still the fourth straight negative week for the benchmark US stock index, which hasn’t happened since August.

Every S&P 500 sector ETF finished higher on Friday, and most by more than 1%. Healthcare and consumer staples were the laggards, while tech was up 3% and energy, financials, and consumer discretionary were up 2% or more.

Ulta Beauty was the best performer on the S&P 500 after greatly exceeding earnings expectations.

Momentum stocks were back on the menu. Nvidia surged as Hon Hai (Foxconn) suggested that its AI server business could soon generate more revenues than its consumer electronics division. Super Micro Computer and Palantir were also among the biggest gainers.

Quantum computing stocks mooned after D-Wave Quantum reported massive bookings in the fourth quarter, a green shoot for commercialization prospects in the space.

Peloton climbed after Cannacord upgraded the stock from hold to buy, seeing sufficient upside after recent declines.

Kering, owner of Gucci (among others), slumped after tapping Demna Gvasalia as its creative director, a controversial hire that has not been well received by the market.

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Tasha Matsumoto

Stocks continue to climb on hopes of an end to the war

Stocks rallied and oil fell as traders digested comments from President Trump.

Sunset Bull

1970s Disco Ball Vibes

Matt Phillips5h

markets

SpaceX reportedly files confidentially for IPO

SpaceX confidentially filed its draft IPO paperwork with the Securities and Exchange Commission, Bloomberg reports, citing people familiar with the matter, the next step toward what is expected to be a blockbuster summer listing.

Elon Musk’s satellite and rocket company could raise around $75 billion in an IPO that would value it at more than $1.75 trillion — both records — though the exact amounts won’t be settled until it goes public, likely in June.

Another notable thing about this IPO: the portion of shares committed to individual investors is expected to be much higher than in traditional IPOs — per Reuters, up to 30%, versus the typical 10% — a move that could broaden retail participation in one of the most anticipated public offerings ever.

SpaceX Has Filed Confidentially for IPO Ahead of AI Rivals

Elon Musk’s SpaceX to Combine with xAI Ahead of Mega IPO

Another notable thing about this IPO: the portion of shares committed to individual investors is expected to be much higher than in traditional IPOs — per Reuters, up to 30%, versus the typical 10% — a move that could broaden retail participation in one of the most anticipated public offerings ever.

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Matt Phillips8h

Energy stocks tumble after massive March

Energy and chemical stocks tumbled early Wednesday on growing expectations that the US participation in the Iran war is nearing an end, and West Texas Intermediate crude oil futures slipped back below $100 a barrel.

LyondellBasell, APA Corporation, Dow, Inc., CF Industries, and Marathon Petroleum — the S&P 500’s top 5 gainers last month — all sank.

Natural gas drillers EOG Resources, Devon Energy, Coterra Energy, and Diamondback Energy dropped, as did integrated oil giants Exxon and Chevron. Fuel refiners and marketers such as Phillips 66 and Valero also fell.

Don’t shed too many tears for these energy giants; the S&P 500 energy sector rose 10% in March and 37% in Q1 2026.

The Energy Select Sector SPDR Fund is coming off its second-best quarter on record relative to the SPDR S&P 500 ETF, based on data going back to 1999.

Max Knoblauch9h

Nio, Li Auto rise as Q1 delivery totals beat internal guidance

China’s EV startup trio — Nio, Li Auto, and XPeng — are all climbing on Wednesday, following the release of March and first-quarter delivery totals.

Nio delivered 83,465 vehicles in the three months that ended in March, up 99% from the same quarter a year ago and slightly beating the upper end of its guidance. Li Auto delivered 95,142 vehicles in the period, up 2.5% and ahead of its guidance range. The figure was bolstered by 12% growth in March deliveries.

XPeng, on the other hand, saw Q1 deliveries drop 33% year over year to 62,682 vehicles — the company’s first quarterly drop since 2023. Shares are still up as of 10 a.m. ET on Wednesday, as the automaker’s March deliveries were up 80% from February’s total.

BYD is down more than 2% on Wednesday, as the automaker posted its seventh consecutive month of sales declines. First-quarter sales fell 30% year over year, Reuters reported.

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