Luke Kawa3/6/25

Train wreck in momentum stocks drags S&P 500 sharply lower

The S&P 500 was down 1.8%, the Nasdaq 100 gave back 2.7%, and the Russell 2000 dropped 1.6% on Thursday.

Temporary tariff relief, with President Trump delaying levies on most Canadian and Mexican imports until April 2, was no panacea for the stock market.

Momentum stocks have fallen and they can’t get up.

The iShares MSCI USA Momentum Factor ETF tumbled 3.9% on the day, and has now had its fastest retreat from all-time highs since the first quarter of 2021.

Palantir Technologies fell double digits and was the worst performer in the S&P 500. The Magnificent 7 all declined, punctuated by losses of more than 5% in Tesla and Nvidia after retail traders piled into the names the previous day.

Chip designer Marvell Technology tanked almost 20% after reporting lukewarm earnings and guidance after the close on Wednesday.

General Motors, Ford, and Stellantis all fell as Bank of America warned that a one-month reprieve from tariffs isn’t too helpful.

Hims & Hers sank nearly 16% on the heels of a court ruling that further dims the outlook for its copycat weight-loss drug sales.

Off-price retailer Burlington Stores soared after posting better-than-expected earnings and same-store sales.

Victoria’s Secret slumped after its first-quarter guidance disappointed.

A cracking sales beat from Cracker Barrel propelled shares 7% higher.

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J. Edward Moreno7/7/26

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.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

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Meta surges on report it’s starting a cloud business to sell excess AI compute

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Paige Oamek6/30/26

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.”

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