S&P 500, Nasdaq Close at Fresh Record Highs After Strong Jobs Report as Tech Stocks Continue to Rally

Biggest S&P 500 Movers on Thursday

1 hr 19 min ago

Advancers

Solar power stocks gained ground as the massive tax and spending bill backed by President Trump was set to be approved in Congress. Although the legislation includes provisions to phase out federal tax credits for clean-energy projects, the Senate’s final bill omitted an additional tax on solar and wind projects with a certain level of participation by foreign entities that had been present in a previous draft. Shares of panel manufacturer First Solar (FSLR) surged 8.5%, notching the S&P 500’s top daily performance, while shares of microinverter specialist Enphase Energy (ENPH) gained 3.9%.
The U.S. government eliminated restrictions on exporting semiconductor design software to China, according to announcements by several industry players, who said they are in the process of resuming sales to the country. Shares of chip-design software firms Cadence Design Systems (CDNS) and Synopsys (SNPS) were up 5.1% and 4.9%, respectively. 
CrowdStrike (CRWD) ended the day up 3.6% at a record high after Wedbush analysts lifted their price target on the stock and described the company as the “gold standard” in the cybersecurity industry. The Wedbush team highlighted CrowdStrike’s strength in the artificial intelligence security space.

Decliners

The unexpected strength in Thursday morning’s jobs report reduced expectations among traders that the Federal Reserve could resume interest-rate cuts as soon as its July meeting. Declining optimism for lower mortgage rates pressured home builders’ stocks. Lennar (LEN) shares dropped 4.1%, losing the most of any S&P 500 stock on Thursday, while shares of D.R. Horton (DHI) and NVR Inc. (NVR) were down 2.7% and 1.9%, respectively.
Agribusiness firm Bunge Global (BG) completed its acquisition of the grain-handling business Viterra, despite concerns that the merger could limit competition in the grain and canola markets. Bunge believes the deal can help the company compete more effectively against larger rivals as it navigates uncertainties in the global grain markets related to tariffs and geopolitical tensions. However, Bunge shares slipped 3.6% Thursday.
After opening the session solidly in positive territory, shares of pharmaceutical giant Merck (MRK) lost ground throughout the day, ending with a 1.8% loss. Although Merck is counting on growth driven by Winrevair, its newly launched treatment for pulmonary arterial hypertension, the company faces a headwind related to Keytruda, a treatment for several types of cancer that is set to lose exclusivity in 2028.

-Michael Bromberg

Dow Posts Gains for Third Straight Week

1 hr 46 min ago

The major U.S. stock indexes recorded solid gains during the holiday-abbreviated trading week.

The Dow Jones Industrial Average rose 2.3%, while the S&P 500 and Nasdaq Composite tacked on 1.7% and 1.6%, respectively. It was the third straight week of gains for the Dow and the Nasdaq, while the S&P 500 posted gains for the second consecutive week.

The S&P 500 and Nasdaq Composite have closed at record highs on four of the past five days, while the Dow is just 0.4% away from setting its first all-time high since December 4.

Nvidia Could be the First $4 Trillion Company

2 hr 54 min ago

Nvidia (NVDA) could be poised to claim the title of most valuable company in history, as its market value nears $4 trillion. 

The AI chipmaker’s shares rose just over 1% to close at an all-time high of $159.34 Thursday, pushing its market capitalization to $3.89 trillion. If the stock had sustained its intraday highs closer to $161, its market value would have topped Apple’s (AAPL) closing record of $3.91 trillion in December.

With another roughly 3% rise from Thursday’s closing price to $163.93, Nvidia could also hit the $4 trillion market cap threshold soon, something no other company has done. Microsoft (MSFT), which has jockeyed with Nvidia this year for the title of world’s most valuable company, could too, according to Wedbush analysts led by Dan Ives.

“We believe both Nvidia and Microsoft will hit the $4 trillion market cap club this summer and then over the next 18 months the focus will be on the $5 trillion club….as this tech bull market is still early being led by the AI Revolution,” the analysts said in a note to clients Thursday.

-Andrew Kessel

Summit Therapeutics Jumps on Report of AstraZeneca Deal

3 hr 28 min ago

Shares of Summit Therapeutics (SMMT) soared Thursday on a report that it was discussing a lucrative partnership deal with AstraZeneca (AZN).

Citing people familiar with the matter, Bloomberg reported that the Cambridge, U.K.-based AstraZeneca “could pay as much as $15 billion over time to license” lung-cancer treatment ivonescimab from the Miami-based Summit. Terms being considered “include a several billion dollar upfront payment and several milestone payments that Summit could receive later,” Bloomberg added.

Summit did not immediately return an Investopedia request for comment. An AstraZeneca spokesperson declined to comment.

Summit shares gained more than 8% on Thursday. The stock has risen nearly 40% since the start of the year. U.S.-listed shares of AstraZeneca fell more than 2% to pace Nasdaq decliners today.

-Aaron Rennie

Wedbush Dubs CrowdStrike ‘Gold Standard’ in Cybersecurity

4 hr 38 min ago

CrowdStrike Holdings (CRWD) shares jumped to an all-time high Thursday as Wedbush raised its price target, saying the cybersecurity firm remains the “gold standard” in the industry.

Wedbush lifted the price target to $575 from $525, while maintaining an “outperform” rating. The analysts said in a note to clients that CrowdStrike has had “increased momentum in the field around its cyber platform approach based on our recent checks coming in very strong with healthy momentum into the next year for one of the stalwarts of cyber security.”

CrowdStrike shares rose nearly 4% to around $514 on Thursday.

The Wedbush analysts noted that the spread of “deal momentum” with artificial intelligence is “also a clear tailwind.” They added because of its strength in the AI space, “the company has seen less discounting in the field while new logos are increasing, pointing to continued momentum across new customer acquisitions.”

The analysts said they “believe that CRWD remains at the forefront of securing the AI Revolution over the coming years.”

-Bill McColl

Tesla Levels to Watch as Stock Rebounds from Sell-Off

5 hr 27 min ago

Tesla shares inched higher on Thursday, continuing to bounce back from a steep decline earlier this week sparked by the resurgence of a feud between Elon Musk and President Donald Trump.

The stock rose 5% on Wednesday after the EV maker released data on deliveries in the second quarter, which showed a sharp decline in sales from a year ago but were largely in line with analysts’ expectations. That gain offset a decline of about 5% on Tuesday, when the Musk-Trump fracas flared up again. Musk criticized the massive tax and spending bill that GOP legislators aim to approve this week, which led Trump to warn that Musk’s businesses have benefitted excessively from government subsidy.

Tesla shares rallied 23% in the second quarter, boosted by Musk’s decision to leave his role as head of the Department of Government Efficiency to spend more time at the automaker. However, the stock has lost 22% of its value since the start of the year, weighed down by declining EV sales and concerns that Musk’s political involvement has caused damage to the Tesla brand.

Tesla shares broke down from a bearish flag pattern and closed below key moving averages on Tuesday before recovering most of the move Wednesday, laying the groundwork for a potential bear trap, a trading event that lures investors to sell upon a breach of major support before the price makes a sudden move higher.

It’s also worth pointing out that the 50-day moving average (MA) crossed above the 200-day MA earlier this week to generate a bullish golden cross, a chart pattern that signals higher prices.

Investors should watch important support levels on Tesla’s chart around $285 and $225, while also monitoring key resistance levels near $365 and $430.

The stock was up 0.4% at around $317 in recent trading.

Read the full technical analysis piece here.

-Timothy Smith

Chip Design Software Stocks Jump as U.S. Lifts Restrictions on Exports

6 hr 30 min ago

The Trump administration has lifted export restrictions it imposed recently for chip design software sales in China, as Washington and Beijing move forward with a framework for a trade deal.

Synopsys (SNPS) and Germany’s Siemens AG said they had been informed by the U.S. Commerce Department’s Bureau of Industry and Security that the curbs imposed in May had been removed. Reports noted that a third semiconductor design software provider, Cadence Design Systems (CDNS), made a similar statement.

The news sent shares of the U.S. companies surging in early trading Thursday. Shares of both Cadence and Synopsys were both up about 5% in recent trading.

Siemens said in a statement to Investopedia that it has “restored full access to software and technology” and resumed sales to China, while Synopsys said the export restrictions placed on it in May “have now been rescinded, effective immediately” and that it is “working to restore access to the recently restricted products in China.”

Cadence, according to Bloomberg and CNBC, is in the process of resuming its services in the country. Cadence and the Commerce Department didn’t immediately respond to Investopedia requests for comment.

-Nisha Gopalan

Tripadvisor Shares Soar as Activist Takes 9% Stake

7 hours ago

Shares of Tripadvisor (TRIP) soared Thursday after activist investor Starboard Value took a 9% stake in the travel review provider.

In a regulatory filing, Starboard said it owned about 10.6 million shares of Tripadvisor, arguing that the stock was “undervalued and represented an attractive investment opportunity.”

Starboard added that it intends “to engage with the Issuer’s management and Board of Directors regarding opportunities for value creation.” Starboard noted that it might suggest a range of steps, including “making recommendations or proposals to the Issuer concerning changes to the capitalization, ownership structure, board structure (including board composition), potential business combinations or dispositions involving the Issuer or certain of its businesses, or suggestions for improving the Issuer’s financial and/or operational performance.”

Tripadvisor shares sank in 2020 when the COVID-19 pandemic caused a major slump in travel and tourism. They rallied back in 2021, but have steadily declined since as revenue from its namesake brand slid, while subsidiaries Viator and TheFork grew. The Wall Street Journal reported that the company turned down several takeover offers in the past year.

The stock was up more than 17% in recent trading, pushing its year-to-date gain to near 20%.

-Bill McColl

Market Expectations for July Rate Cut Fade

8 hr 7 min ago

The surprisingly strong June jobs report has led market participants to scale back their expectations for the Federal Reserve to cut interest rates this month.

Investor hopes that the Fed could be in a position to cut rates soon have contributed to the rally that has boosted stocks to record highs recently.

Earlier this morning, ahead of the release of the employment numbers, traders were pricing in a 25% chance that the central bank would cut its benchmark rate at its July 30th policy meeting, according to CME Group’s FedWatch tool. The likelihood fell to below 7% after the labor data.

For investors, the employment numbers are undoubtedly good news as they point to continued robust consumer spending and strong corporate results. At the same time, the ongoing strength of the economy could keep the Fed from lowering interest rates that are high by historical standards, especially if inflation remains above the Fed’s target.

Fed officials, for their part, have said that the central bank needs to see more data on how tariffs feed through the economy, especially how they affect inflation, before policy can be adjusted.

Centene Levels to Watch After 40% Drop on Wednesday

9 hr 17 min ago

Centene (CNC) shares plummeted 40% on Wednesday, hitting an 8-year low, after the managed care giant withdrew its full-year outlook after receiving new data about enrolments and rising member health costs.

The company, which focuses on Medicaid and Affordable Care Act insurance, said reports from the majority of its marketplaces revealed that growth slowed more than anticipated and patient illness was significantly higher than it had previously expected. As a result, it expects lower federal reimbursements and increased costs, which it says will impact 2025 results by about $1.8 billion, or $2.75 in adjusted earnings per share.

The stock has lost around two-thirds of its value since setting a record high in August 2022. Since the start of 2025, Centene shares have dropped 44% as the company and its industry peers grapple with rising medical costs and declining enrollments.

The stock was up 1% at around $34 in premarket trading Thursday.

Since setting their all-time high in August 2022, Centene shares have remained in a steady downtrend. Losses have accelerated in early July, which has seen the price plunge below the closely watched 200-month moving average and the relative strength index fall into oversold territory. 

Importantly, the sharp move lower has occurred on above average-volume, indicating selling conviction from larger market participants.

Investors should watch major support levels on Centene’s chart around $27 and $17, while also monitoring resistance levels near $42 and $74.

Read the full technical analysis piece here.

-Timothy Smith

Datadog Surges as Software Stock to Join S&P 500

9 hr 47 min ago

Shares of Datadog (DDOG) popped in premarket trading Thursday, a day after S&P Global announced that the software firm would be joining the S&P 500 on July 9.

A spot in the benchmark index opened up after Hewlett Packard Enterprise (HPE) on Wednesday completed its acquisition of fellow S&P 500 component Juniper Networks.

Inclusion in the S&P 500 can boost shares by introducing them to new investors or by getting put into various index funds that track the components. 

Datadog shares were up 9% recently, on pace to move back into positive territory for the year. They have recovered much of the ground they lost starting in February, when lackluster forecasts sent them tumbling.

Robinhood (HOOD) shares were down nearly 3% in premarket trading after hitting an all-time high Wednesday on speculation the trading platform would be the one to replace Juniper Networks in the S&P 500. Cryptocurrency trading platform Coinbase Global (COIN) was added to the index in May following the merger of Capital One Financial (COF) and Discover Financial Services.

-Aaron McDade

Major Index Futures Inch Higher Ahead of Jobs Report

10 hr 5 min ago

Futures tied to major U.S. indexes were up less than 0.1% as markets were in a holding pattern ahead of the release of the June employment report from the Labor Department.

Dow Jones Industrial Average futures

S&P 500 futures

Nasdaq 100 futures