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 4:32PM

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.

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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.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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

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SpaceX gets a wave of bullish ratings from Wall Street analysts

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