Stocks continue to climb as surprise drop in private payrolls solidify rate cut expectations |
Despite most BATMMAAN stocks trading lower, with only Tesla and Alphabet rising, the S&P 500 and Nasdaq 100 gained thanks to a broad-based rally, with the S&P 500 Equal Weight Index outperforming the S&P 500. The Russell 2000 outperformed as well, as a surprise decline in private sector jobs further solidified expectations of a rate cut at next week’s Fed meeting.
Stocks that moved higher: |
-
Robotics stocks iRobot, Richtech Robotics, Serve Robotics, and WeRide got a lift on the heels of a report from Politico that Commerce Secretary Howard Lutnick is going “all in” to support the industry.
-
Marvell Technology soared thanks to CEO Matt Murphy’s positive commentary on next year’s sales outlook during yesterday’s earnings call. POET Technologies also skyrocketed as investors believe that Marvell’s acquisition of Celestial AI validates its technology and bolsters its sales outlook.
- Uber rose after announcing that users in Dallas can be matched with robotaxis starting today.
-
D-Wave Quantum was up big after Evercore ISI initiated coverage on the annealing quantum specialist with an “outperform” rating and price target of $44.
-
Jeep-maker Stellantis climbed following an upgrade UBS as the bank expects Stellantis to bounce back thanks to a renewed focus on gas-powered cars and trucks as the White House is poised to ease fuel efficiency rules.
- American Eagle soared on better than expected sales and a boosted full-year outlook as same-store sales are poised to be up in the low single digits for this fiscal year.
-
Electric aircraft maker Archer Aviation announced Miami as the location of its third planned US air taxi network, joining already-announced future networks in New York City and Los Angeles.
-
Dollar Tree rose after Q3 adjusted EPS came in at $1.21 (vs. $1.10 estimate) and same-store sales grew 4.2%.
- Zara-owner Inditex got the stock’s biggest intraday jump in years after the world’s largest listed clothing retailer reported robust November and third-quarter results.
|
-
Netflix sank on a report that buying Warner Bros. Discovery wouldn’t drastically boost its market share since most subscribers already have HBO Max.
- Boeing fell as the FTC said that the merger with its key supplier, Spirit AeroSystems, cannot proceed unless Boeing significantly divests Spirit assets.
-
Microsoft ticked down after The Information reported that multiple divisions within the tech giant have lowered their sales quotas for AI products as traditional customers resist paying more for largely unproven tech. The stock pared some of those losses after CNBC reported that Microsoft issued a statement saying it hadn’t lowered sales quotas or targets.
- Hard disk drive makers Seagate Technology Holdings and Western Digital also slumped amid worries that software clients don’t want to pay more for AI-optimized products.
-
Micron slipped as the company announced the decision to exit its consumer chip business (which goes by the brand name “Crucial”).
-
GitLab sank after a management oopsie added to the sting of its third-quarter results, released after the close yesterday.
|
|
|
Accenture has a new deal with OpenAI — did ChatGPT’s launch top-tick consulting employment? Read more. |
|
|
As rival music services launch end-of-year recaps, keeping listeners loyal is crucial to Spotify’s long-term profits. Read more. |
|
|
The 43-day government shutdown that ended last month will result in a $200 million ding for Delta Air Lines, the airline said in a filing on Wednesday.
That’s about $100,000 per shutdown-related canceled flight. Read more. |
|
|
-
Report: Anthropic hires law firm to prepare for possible IPO in 2026
The AI startup could be the first of its class to go public, beating out leader OpenAI.
-
Hims to acquire blood collection company YourBio
Hims didn’t disclose the price it’s paying for YourBio, but said it’s a cash deal expected to close in 2026.
-
Apple iPhone sales to jump 6% in 2025 to a record high
That’s higher than its previous record in 2021, when the iPhone 13 was released.
-
Google’s Waymo to expand autonomous driving service to Philadelphia, Baltimore, St. Louis, and Pittsburgh
The company hasn’t provided a timeline for commercial operation for the four new cities.
-
Tesla sales drop in Germany, adding to declines across Europe
For what it’s worth, CEO Elon Musk has called Europe the company’s “weakest market.”
-
Report: Meta poaches Apple design chief Alan Dye
The high-profile departure follows several other major leadership changes at Apple, as it struggles to catch up in AI.
-
With Puma’s stock under pressure, Chinese giants are circling the storied brand
With 77 years of history behind the brand, 2025 might just be Puma’s worst, as losses have piled up over the last year. At least the company’s new elite running shoe is a winner.
|
|
|
Was this email forwarded to you? Don’t miss out on future stories — subscribe to The Wrap and get your daily dose of financial news straight to your inbox.
Craving more insights in your inbox? Subscribe to Chartr and Snacks for quality reads.
We care what you think! If you have any feedback or comments, feel free to reply and let us know your thoughts! |
|
|
Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... See more |
|
|
SHERWOOD MEDIA, LLC, 85 Willow Road, Menlo Park, CA 94025 |
|
|
|
