2/6/25

US stocks close at session highs to post solid gain

The S&P 500 and the Nasdaq 100 closed at their highs of the day with solid gains, while the Russell 2000 retreated on Thursday.

At the sector level, advances were widespread, with 8 of 11 S&P 500 sector ETFs up on the day. Energy stocks dropped, and were at the bottom of that leaderboard.

Nvidia climbed as enthusiasm for the picks-and-shovels AI trade returns and Morgan Stanley doubled down on the chip designer as its top pick in the sector. Meta booked its 14th consecutive day in the green, a record for the stock. Its Magnificent 7 peer Tesla headed lower amid disastrous European sales figures.

Skyworks Solutions, a key supplier to Apple, was the worst-performing S&P 500 constituent, shedding about a quarter of its value after the company revealed that it’s about to lose a big chunk of its iPhone business.

Despite posting very solid results, Qualcomm tumbled as investors doubt that strength in the smartphone market will have staying power.

America is one natZyn under Philip Morris, as the company’s oral products shipments ramped in the final three months of 2024, fueling a massive gain for the stock.

Way better-than-expected quarterly results along with improved guidance propelled luxury goods makers Ralph Lauren and Tapestry sharply higher.

Palantir Technologies was also one of the top performers in the S&P 500, with its market cap surpassing the likes of McDonald’s and American Express.

Ford had an abysmal session after telling investors that 2025 would be worse than 2024 from a profitability perspective.

Peloton soared as its earnings report and guidance for the current quarter bolstered resolve that its path toward profitability is at hand.

Roblox, on the other hand, was crushed as its daily active user count heads in the wrong direction.

Trump Media & Technology Group also made waves by filing for trademarks for a slew of ETFs, including one that would hold bitcoin.

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Nia Warfield, Luke Kawa

S&P 500 goes nowhere, Nasdaq 100 hits another record, small-caps tumble

Warner Bros. Discovery led gains for the second day in a row, and only three S&P 500 sector ETFs finished in the green.

Horse Ranch In Zhangye

markets

6h

Rocket lab soars to new record close amid rally for retail faves

Rocket Lab ripped by roughly 10% Friday to close at a new all-time high, riding an upturn of retail enthusiasm for a coterie of tech-themed favorites, even as the broader market was more or less flat on the day.

Goldman Sachs’ basket of “retail favorites” — its heaviest weights are Reddit, AppLovin, and Tempus AI — was the second-biggest gainer among the company’s flagship US equity baskets on Friday, rising about 1.6%. The S&P was almost dead flat.

It’s not Rocket Lab’s first retail rodeo, as the money-losing company has more than doubled this year and is up nearly 700% over the last 12 months.

Oracle Wall Street Revisions

Analysts revise up anything and everything they thought about Oracle

After the company’s bombshell earnings this week, Wall Street thinks Oracle’s trajectory has changed.

Matt Phillips8h

markets

9h

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 ended August 31 saw 17.8 million guests, up about 2% from the same stretch last year, 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 about 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 signed 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 about 52% year to date.

markets

10h

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.

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