Markets
Luke Kawa
12/12/24

US stocks dip, small caps slide

The S&P 500 fell 0.5%, the Nasdaq 100 gave back 0.7%, and the Russell 2000 small-cap index slumped 1.4% on Thursday.

More members in the S&P 500 fell than rose for the ninth consecutive session, now the longest such streak since around the time of the 9/11 terrorist attacks in 2001.

Every S&P 500 sector ETF besides consumer staples and communication services was down on the day, with consumer discretionary, healthcare, and energy faring the worst. The tough sledding for homebuilders continues, with the iShares US Home Construction ETF off 1.3% on the day.

Price action in the Magnificent 7 cohort was mixed, with Microsoft and Apple gaining while all other constituents declined.

Adobe was the worst-performing member of the benchmark US stock index, falling 13.7% after posting underwhelming guidance for the current quarter. On the other end of the spectrum, Warner Bros. Discovery skyrocketed 15.4%, its best one-day gain on record, after restructuring its businesses in a move Wall Street analysts expect is in preparation for a spin-off of some of its assets.

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Nia Warfield, Luke Kawa
19h
US stocks end a down week with a gain

An up day but a down week for the benchmark US stock index.

Cowboy Riding Bucking Steer
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Luke Kawa

Crocs rises on new marketing campaign for HeyDude brand starring Sydney Sweeney


Sydney Sweeney has great... feet?

Shares of Crocs are rising after the footwear company’s HeyDude brand unveiled a new marketing effort starring actress Sydney Sweeney for its Austin Lift shoe line.

Sweeney’s controversial ad campaign for American Eagle spurred a massive jump in the denim maker’s shares, caught the attention of the president, and prompted “an uptick in customer awareness, engagement, and comparable sales,” per American Eagle’s management.

Sweeney was first announced as HeyDude’s global spokesperson in August 2024, and doesn’t seem to have given the brand a major boost so far.

Max Knoblauch
23h

Ford and GM reach 52-week highs as EPA seeks to repeal emissions rules

Shares of Ford and GM are each trading at 52-week highs on Friday, as investors pile into gas-powered US automakers with the looming end of the EV tax credit and the Trump administration’s potential repeal of vehicle emissions standards.

A lobby representing Ford, GM, and nearly all other major automakers has expressed support for the EPA’s proposal to repeal the long-standing endangerment finding that declared greenhouse gases a threat to human life. The finding provides the legal foundation for the EPA to regulate vehicle emissions.

Yesterday, EV giant Tesla urged the Trump administration to keep the standards in place.

Friday afternoon saw Ford shares reach their highest level since July 2024, while GM’s stock hit highs not seen since January 2022.

Citi equity analysts on the key valuation issue facing the market.

Citi’s US market analyst on the key valuation test facing the market

“It kind of comes down to, what inning do you think we are in this AI game?”

Matt Phillips9/26/25
markets
Luke Kawa

GameStop surges as company offers promotions to boost launch of “Pokémon” Mega Evolution set

GameStop is jumping as the company offers promotions to boost interest for today’s North American launch of the Mega Evolution set of the “Pokémon Trading Card Game.”

Options activity is a little more tilted to the bull side than usual. Over the past month, a little less than four calls have changed hands for every put option. As of 10:22 a.m. ET, that ratio is over five to one.

It’s a big day for collectibles fans and gamers alike: beyond the “Pokémon TCG” drop, there are also new collections from “Yu-Gi-Oh!” and “Magic: The Gathering” being released and “EA SPORTS FC 26,” as well.

As we’ve written, “Pokémon” trading cards have been skyrocketing in value, and GameStop’s collectibles business has been accelerating. These are two sides of the same coin.

Mega Gardevoir... here I come!

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