Three major US stock indexes post record closing highs on the same day for the first time since November 2021

Tech was far and away the best-performing S&P 500 sector ETF, while consumer staples was at the bottom of the leaderboard.

Nia Warfield, Luke Kawa

9/18/25 3:32PM

The S&P 500, Nasdaq 100, and Russell 2000 all posted fresh closing highs on Thursday.

The benchmark US stock index ended 0.5% higher, the Nasdaq 100 rallied 1%, and the Russell 2000 far outperformed with a 2.5% advance. Blue Horseshoe loves Anacott Steel, and small-cap stocks love Federal Reserve rate cuts.

The record close for the small-cap Russell 2000 was its first since November 2021, which means it’s also the first time in nearly four years that all three major indexes closed at fresh peaks on the same day.

Tech was far and away the best-performing S&P 500 sector ETF, while consumer staples was at the bottom of the leaderboard.

Gains on the day were led by Intel, which jumped 22.8%, its biggest one-day advance since 1987, after Nvidia said it would buy $5 billion worth of Intel stock as part of a broader partnership to codevelop data center and PC products. The news was a blow to Advanced Micro Devices, which was down big early but recovered to finish off just 0.8%. Elsewhere…

Declines were led in part by Darden Restaurants, which fell 7.7% after the Olive Garden and LongHorn parent company’s Q1 results came in lighter than expected.

CrowdStrike shares popped 12.8% after the company said it expects fiscal year 2027 net new annual recurring revenues to grow more than 20% — topping the Street’s estimates.

Abercrombie & Fitch leapt 5.3% after BTIG initiated coverage on the stock with a “buy” rating and set a $120 price target as brand momentum for the Y2K retailer heats up.

Novo Nordisk jumped 6.3% after the Danish GLP-1 trailblazer released two positive study results, including one for its oral semaglutide treatment (“Wegovy in a pill”).

Uber ticked 1.9% higher after the company announced a new partnership with drone operator Flytrex to begin testing an autonomous delivery-by-air system by the end of the year.

IonQ shares rose 2.1% after the company signed a memorandum of understanding with the US Department of Energy “to advance the development and deployment of quantum technologies in space.” Quantum peer Rigetti Computing jumped 12.5% on its $5.8 million contract with the Air Force Research Laboratory.

Palantir tumbles after delivering spectacular results

Palantir’s exceptional earnings receive ugly reaction

The valuation agita hitting high-flying stocks overshadowed the AI and intelligence software company’s blowout quarterly update.

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Luke Kawa5h

Fermi secures preliminary approval for a low-emissions natural gas plant to meet AI power demands

Power provider Fermi said it has received preliminary approval from the Texas Commission on Environmental Quality for the planned 6 gigawatts of natural gas generation that’s part of its “Project Matador” to meet the ever-growing power demands of the AI boom.

“At Fermi, our private grid model ensures that the growing demand for AI is met privately,” Fermi America CEO and cofounder Toby Neugebauer said.

Final approval is still subject to a formal meeting and public comment.

The initial gas generators are already en route to the campus, with plans to have these installed and online in 2026, Fermi said.

Microsoft CEO Satya Nadella recently remarked that “the ability to get the builds done fast enough close to power” is the biggest constraint he faces, just ahead of an announced deal with IREN to purchase power-secured cloud computing capacity.

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The negative reaction after Palantir’s earnings is spreading to other volatile retail favorites

Palantir is the poster child for a richly valued, retail darling, megacap momentum stock. It’s going down on largely good news, and that’s cascading to hit smaller, volatile segments of the market also beloved by the retail community.

Fuel cell company Bloom Energy and no-revenues nuclear company Oklo are both off about 5% or more in early trading.
Neoclouds Nebius and CoreWeave are facing significant selling pressure.
The quantum space is getting rocked, with D-Wave Quantum, Rigetti, IonQ, and Quantum Computing all down between 3% and 5% as of 9:42 a.m. ET.
Other story stocks deep in the red include SoundHound AI, Rocket Lab, and Opendoor Technologies.

Goldman Sachs baskets that track retail favorites and nonprofitable tech stocks are down more than 2% and 3% as of 9:43 a.m. ET, respectively, while the Invesco S&P 500 High Beta ETF is also off more than 2%.

Long Island highway patrol officer using radar to check speed

Stocks are getting speed checked

A retail favorite failing to build momentum even when it “deserves” to, the most important part of the stock market being told it’s overheating, and the heads of banks warning of a broader pullback.

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Spotify notches another quarter of strong active user growth and improved profitability

Spotify shares are up 3.25% as of 6:45 a.m. ET as investors digest the streaming giant’s Q3 earnings, in which the company reported that it added more than 70 million monthly active users, posted revenues that were up 7% from last year, and improved profitability.

Total revenues climbed to €4.27 billion, or around $4.91 billion, for the quarter, while net income came in at €899 million ($1.03 billion), which translated into adjusted earnings per share of €3.28 — ahead of the ~€1.96 that analysts had expected, per FactSet figures cited by The Wall Street Journal. Spotify now counts a whopping 713 million monthly active users, including 281 million premium subscribers, compared to 640 million and 252 million, respectively, on the same quarter last year.

The boosted figures come on the back of a host of new features that the streaming platform’s introduced, such as “lossless listening,” playlist mixing controls, and direct messages. The company is now forecasting that its total monthly active users will climb to 745 million by the end of the fourth quarter.

With the latest gains today, Spotify is now up ~48% year to date, even as cofounder Daniel Ek announced in September that he’d be stepping down as CEO at the end of the year, almost 20 years on from the company’s inception.