Markets
Nia Warfield, Luke Kawa

US stocks set more records on trade progress

A quarter that started with US stocks falling out of bed ended with the S&P 500 booking a double-digit gain amid more signs of progress on agreements that may help avoid trade wars flaring up again.

The benchmark US stock index booked another record close with a 0.5% gain, as did the Nasdaq 100 with a 0.6% advance. The Russell 2000 inched 0.1% higher.

Every S&P 500 sector ETF gained outside of consumer discretionary, energy, and materials, with tech and financials leading the way higher.

Hewlett Packard Enterprise paced the S&P 500’s gains, closing up 11% after the Department of Justice officially cleared its $14 billion Juniper Networks acquisition.

Apple popped 2% on reports that the iPhone maker is considering using OpenAI or Anthropic to power its Siri AI assistant.

Palantir shares were up 4% after the retail favorite announced a partnership with Accenture Federal Services centering on the company’s growing AI software business.

Robinhood Markets jumped nearly 13% after the company announced plans to extend its crypto offerings, including launching tokenized versions of US stocks and ETFs for EU customers.

(Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company subject to certain legal and regulatory restrictions.)

Moderna rose as much as 5% before closing at a 1.6% gain after the pharma giant announced positive results for its experimental flu vaccine.

Oracle rose 4% after the tech giant disclosed a new $30 billion contract and backed its 2026 guidance in a morning regulatory filing.

AppLovin popped almost 5% after UBS hiked its price target for the ad tech company to $540 from $475 — well above the average analyst price target of $467.

Plug Power soared 28% after new provisions to the Senate’s tax bill proposed extending green hydrogen production credit an additional two years.

Cava shares were up 8.2% after the popular Mediterranean food chain saw a wave of afternoon bullish options activity.

Shares of wholesale supplier GMS jumped nearly 12% after Home Depot announced a $4.3 billion takeover, sharpening its pivot toward professional contractors.

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Luke Kawa
7/13/26
Meet the newly public, Bezos-backed company that’s recreating the sun and stars

General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

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J. Edward Moreno

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.

Luke Kawa
7/2/26
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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Luke Kawa
7/1/26
Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings
markets
Paige Oamek

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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