Biggest S&P 500 Movers on Wednesday
July 02, 2025 06:20 PM EDT
Advancers
Shares of Albemarle (ALB), the world’s largest lithium producer, rose 8.1%, notching the best performance in the S&P 500 and reaching their highest level since a sharp decline hit the stock in April. Although oversupply concerns have pushed prices for the key battery ingredient sharply lower over the past year, lithium prices edged higher on Wednesday. Like other major producers, Albemarle has responded to the challenging price environment with cost-cutting measures, including workforce reductions and cutbacks to capital expenditure plans.
Coinbase Global (COIN) said it has purchased the token-management platform Liquifi, the latest in a string of acquisitions for the largest U.S. cryptocurrency exchange. Liquifi is designed to help with early stage projects, and Coinbase stressed that the deal will advance its goal of making it easier for organizations to navigate the challenges associated with building on-chain. Coinbase shares added 5.7%.
Moderna (MRNA) shares gained 5.5% after the biotech firm’s experimental flu vaccine based on messenger RNA technology showed promising results in a late-stage clinical trial. The company’s head of research and development indicated that Moderna intends to file for approval of its standalone flu shot later this year as well as resubmit its previously withdrawn application for a combination flu and COVID-19 shot.
Decliners
Centene (CNC) shares plummeted 40%, losing the most of any S&P 500 stock, after the company withdrew its full-year guidance. The managed-care provider, which focuses on Medicaid and Affordable Care Act coverage, cited reports showing a steeper-than-expected growth slowdown in 22 of its 29 marketplaces, while patient illness was significantly higher compared with previous risk-adjustment assessments.
Other health insurance stocks also came under pressure: Shares of Molina Healthcare (MOH) and Elevance Health (ELV), which also concentrate on government-sponsored plans, tumbled 22% and 12%, respectively. Shares of health insurance giant UnitedHealth (UNH) were down 5.7%.
-Michael Bromberg
Nike, Other Retail Stocks Rise on News of Vietnam Trade Deal
July 02, 2025 05:45 PM EDT
Shares of Nike (NKE), Wayfair (W), and other retailers with a significant production footprint in Vietnam rose Wednesday as President Trump said the U.S. reached a trade deal with the country.
Nike’s stock jumped 4%. The sports apparel giant sources 50% of its shoes and 28% of its apparel from Vietnam, according to its most recent annual report. Shares of On Holding (ONON), which also manufactures in Vietnam, climbed close to 3%, while Under Armour (UA), and Abercrombie & Fitch (ANF) shares each gained about 2%.
Nearly a fifth of all apparel imports in the U.S. come from Vietnam, and over a third of footwear imports, according to a recent report from Morgan Stanley.
Shares of online furniture retailer Wayfair, which counts Vietnam as its second-largest source of inventory, popped more than 8%. RH (RH), for which Vietnam is the largest inventory source, saw shares rise over 3%, while competitor Lovesac (LOVE) added 4%.
The gains come after President Donald Trump posted on social media Wednesday that Vietnam agreed to pay a 20% tariff on goods shipped to the U.S. and 40% on items that are shipped from other countries to Vietnam, and then sent to the U.S. Vietnam would have otherwise faced a 46% tariff starting on July 9, when the White House’s self-imposed negotiation deadline is set to expire.
-Andrew Kessel
Robinhood Jumps as Investors Bet It Could Join S&P 500
July 02, 2025 05:15 PM EDT
Hewlett Packard Enterprise’s (HPE) acquisition of fellow S&P 500 component Juniper Networks (JNPR) will open a spot in the benchmark index. Investors may be betting on Robinhood Markets (HOOD) to fill it.
Shares of Robinhood shares soared to an all-time high Wednesday, hitting the $100 mark for the first time and closing up some 6% at about $98.
The stock is up more than 35% in the past month, when S&P Global made no changes to the prestigious index even as many predicted that Robinhood was a likely addition. Other factors, including the launch earlier this week of stock and ETF tokens for some users, have also lifted the shares lately.
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HPE announced the closing of the Juniper acquisition earlier today, a move that followed the Justice Department’s recent announcement allowing the deal to proceed.
S&P Dow Jones Indices through a spokesperson declined to comment on potential changes to the index.
-Aaron Rennie
Ford Levels to Watch as Stock Continues to Rally
July 02, 2025 04:00 PM EDT
Ford (F) shares rose Wednesday, extending gains after the automaker yesterday reported a big jump in U.S. sales and an increase in market share in the second quarter.
The company said that sales rose 14.2% in the second quarter versus a year ago, as demand for pickup trucks and SUVs surged. Ford estimated that its market share grew 1.8 percentage points from the first quarter to 14.3%.
The solid numbers come amid concerns about possible declines in new car sales over the coming months as manufacturers incorporate tariff costs into vehicle prices. When Ford released its first-quarter financial results in May, the company said it would not provide full-year earnings guidance amid uncertainty about the impact of tariffs.
Ford shares were up 3.5% at $11.75 in late trading Wednesday. The stock has gained 19% since the start of the year, handily outpacing the performance of the S&P 500’s 6% return over the same period.
After reclaiming the 200-day moving average in mid-May, Ford shares consolidated within an ascending triangle, a chart pattern that signals a continuation of the stock’s recent uptrend.
Indeed, the price staged a decisive breakout above the pattern’s upper trendline in Tuesday’s trading session on above-average volume. Meanwhile, the relative strength index confirms bullish momentum, but remains below overbought levels, providing the shares with sufficient room for further upside.
In another win for the bulls, the 50-day MA crossed above the 200-day MA late last month to form a golden cross, a bullish chart signal that points to the beginning of a new uptrend.
Coming into Wednesday’s session, $11.50 was a major resistance level. With the stock surpassing that mark, investors should watch overhead levels on Ford’s chart around $13 and $13.60, while also monitoring a crucial support level near $10.30.
Read the full technical analysis piece here.
-Timothy Smith
What to Expect from the Stock Market the Rest of 2025
July 02, 2025 02:38 PM EDT
For investors, the first half of 2025 was a rollercoaster ride that ended happily. Market watchers think the rest of the year could look much the same.
Stocks underwent one of their worst sell-offs in decades after President Donald Trump announced his “Liberation Day” tariffs on April 2. That was followed a week later by one of their best days in decades when Trump paused those tariffs. In the end, the S&P 500 rose more than 10% over the second quarter, finishing the first half of the year at a record high.
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The rebound was aided by easing economic uncertainty. A preliminary trade deal with the U.K. and de-escalation with China boosted optimism that tariff rates will ultimately settle below their “Liberation Day” levels. Despite mounting fears of a growth slowdown and resurgent inflation, data throughout the second quarter suggested the labor market was resilient and tariffs were having only a modest impact on inflation.
Taken together, investors now see reasons to hope that the Federal Reserve will resume interest rate cuts in the second half, which could further lift shares. Several banks have lifted their year-end S&P 500 targets in recent weeks, with many restoring estimates they slashed after “Liberation Day.”
Analysts generally expect the S&P 500 to remain rangebound this year, with high valuations limiting upside potential and economic resilience limiting downside risk.
But international, Big Tech, and AI stocks could continue to outperform as investors increase exposure to corners of the market seen as relatively undervalued or fast-growing and well-capitalized.
Read the full article here.
-Colin Laidley
Microsoft to Lay Off Thousands in Latest Round of Cuts
July 02, 2025 02:10 PM EDT
Microsoft (MSFT) plans to make more cuts to its global workforce, affecting thousands of workers.
The tech titan plans to slash its headcount by nearly 4%, Microsoft confirmed to Investopedia Wednesday. The cuts could impact an estimated 9,000 workers, and primarily affect sales teams, according to reporting from Bloomberg.
“We continue to implement organizational changes necessary to best position the company and teams for success in a dynamic marketplace,” a Microsoft spokesperson told Investopedia.
The latest cuts come just weeks after a reported 3% workforce reduction affecting roughly 6,000 employees. CFO Amy Hood told analysts during the company’s earnings call in April that Microsoft was “building high-performing teams and increasing our agility by reducing layers with fewer managers.” The company employed some 228,000 employees worldwide as of the end of fiscal 2024, with around 120,000 in the U.S., according to a regulatory filing.
Microsoft, along with many other big tech companies, faces pressure to lower its headcount as it ramps up investments in AI. D.A. Davidson analyst Gil Luria told Investopedia last month that for every year Microsoft continues to invest at current levels, the company could be pushed to eliminate roughly 10,000 positions or allow them to go unfilled.
Several of Microsoft’s big tech peers, including Google parent Alphabet (GOOGL) and Amazon (AMZN), have also made recent cuts. In June, Google extended buyout offers to U.S. employees across the company, expanding the scope of buyout offers earlier in the year.
Shares of Microsoft were down slightly in afternoon trading Wednesday. They have gained about 16% in 2025 so far.
-Andrew Kessel
Big Banks Boost Dividends After Strong Stress Test Results
July 02, 2025 01:48 PM EDT
Following positive results in the Federal Reserve’s annual stress tests, several major banks are boosting their dividends. JPMorgan Chase (JPM) is also adding a new stock buyback program.
JPMorgan announced it was increasing its quarterly dividend by $0.10 to $1.50 beginning this quarter, and the board approved a $50 billion share repurchase plan that began yesterday. CEO Jamie Dimon said the results of the stress tests “continue to demonstrate that banks are resilient, withstanding extreme hypothetical shocks while supporting the broader economy and financial markets.”
Bank of America (BAC) also plans to lift its dividend this quarter, to $0.28 from $0.26. For Citigroup (C), it’s to $0.60 from $0.56, and for Wells Fargo (WFC), it’s to $0.45 from $0.40. All three are pending board approval.
The Fed announced late last week, as part of its annual assessment of the health of the financial system, that major U.S. banks are well-capitalized and would be able to weather a hypothetical severe recession.
Shares of JPMorgan Chase, Bank of America, Citigroup and Wells Fargo were all up slightly in recent trading.
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-Bill McColl
Intel Reportedly Considering Costly Manufacturing Changes
July 02, 2025 01:10 PM EDT
Intel’s (INTC) new CEO Lip-Bu Tan is reportedly considering a shift in the manufacturer’s contract chip-making business, a change that could cost Intel billions.
Such a shift would lead Intel to change what manufacturing process Intel’s foundry business focuses on selling to new customers. The change would be expensive, likely leading to writing off hundreds of millions or even billions of dollars worth of chipmaking technology used to develop the so-called “18A” manufacturing process as a loss, Reuters reported late Tuesday.
Annabelle Chih / Bloomberg / Getty Images
A focus on the next-generation “14A” process would be part of an effort to win major customers like Nvidia (NVDA) and Apple (AAPL), as Intel works to catch other chipmakers like Taiwan Semiconductor Manufacturing Co. (TSM), who have beat Intel to the manufacturing of smartphone and AI-focused chips, per Reuters.
Intel did not immediately respond to Investopedia’s request for comment.
Multiple sources told Reuters that the 14A process could give Intel advantages over TSMC’s processes, which 18A was supposed to do before it faced delays and was eventually found to be roughly similar quality as TSMC’s N3 method.
Intel’s board will likely discuss the future of the 18A process at its coming meetings this month and again in the fall, Reuters reported.
In addition to weighing its chip-making options, Intel is bolstering its partnerships. On Monday, the company announced a deal to provide Finnish tech giant Nokia with processors in its newest products.
Intel shares were down more than 3% in recent trading and have lost more than a quarter of their value over the last 12 months amid investor uncertainty over the company’s strategic direction as it struggles to compete in the booming market for AI chips.
Centene Stock Plummets as Healthcare Firm Pulls Outlook
July 02, 2025 11:45 AM EDT
Centene (CNC) shares plunged Wednesday, a day after the giant managed-care provider withdrew its full-year outlook after receiving new data about enrollments and the health of those covered.
The company, which focuses on Medicaid and Affordable Care Act insurance, said that reports from 22 of its 29 marketplaces showed growth slowed more than anticipated and patient illness was “significantly higher than, and materially inconsistent with, the Company’s assumptions for risk adjustment revenue transfer used in the preparation of its previous 2025 consolidated guidance.”
Because of the update, Centene now expects lower federal reimbursements and increased costs will impact 2025 results by about $1.8 billion, or $2.75 in adjusted earnings per share. In April, the company predicted full-year adjusted EPS of more than $7.25. Earlier this year, rival UnitedHealth Group (UNH) cut its full-year outlook because of increased expenses.
In addition, Centene announced that it was refiling its 2026 rates “to reflect a higher projected baseline of Marketplace morbidity than previously expected.”
The news led several analysts to downgrade and/or lower the price target of the stock, including Jefferies and UBS.
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Centene shares were down nearly 40% in recent trading, at their lowest level in eight years.
-Bill McColl
Tesla Shares Rise Even as Delivery Numbers Slide
July 02, 2025 10:51 AM EDT
Tesla (TSLA) shares rose Wednesday morning even though the electric vehicle maker reported worse-than-expected second-quarter deliveries and production figures.
Tesla announced 384,122 deliveries, down 14% year-over-year, and 410,244 vehicles produced, down by roughly 600 vehicles. Analysts had expected 394,380 deliveries and 434,230 vehicles produced, per estimates compiled by Visible Alpha.
Several analysts recently said they expected Tesla’s Q2 deliveries and production figures to fall short of estimates as the “brand damage” of CEO Elon Musk’s work with the Trump administration has persisted since Musk left Washington. Deliveries fell short of estimates last quarter as Musk’s political activity made Tesla the subject of protests that hampered demand.
However, some analysts said more investor focus is likely being shifted to the rollout of Tesla’s robotaxi program, which started at a small scale in Austin, Texas, just over a week ago.
Tesla also said Wednesday that it will post its financial results for the quarter after the closing bell on July 23.
TShares entered the day down more than 25% since the start of the year, including a 5% drop yesterday as Musk and Trump publicly sparred again over Trump’s “One Big Beautiful Bill” working its way through Congress. Options pricing suggests traders see shares moving about another 5% in either direction by the end of the holiday-shortened trading week following the data.
Tesla shares were up more than4% recently.
-Aaron McDade
Apple Levels to Watch as Stock Extends Rally
July 02, 2025 09:55 AM EDT
Apple (AAPL) moved higher in early trading after bucking a broader downturn for technology stocks on Tuesday, hitting their highest level in six weeks.
The rally to start the week follows a report that the iPhone maker could use OpenAI or Anthropic to power the next generation of Siri. The company, which has had delays rolling out the latest installment of its voice assisted technology, held talks with both companies about relying on their AI models instead of in-house technology, Bloomberg reported on Monday.
Apple shares have faced downward pressure this year amid concerns the company is falling behind its big tech rivals on the AI development front. The stock fell nearly 8% in the second quarter, making it the only Magnificent Seven member to lose ground in the period. Through Tuesday’s close, Apple shares had lost 17% of their value since the start of 2025, significantly underperforming the S&P 500’s 5% gain. The stock was up 2% to around $211.50 in recent trading.
Apple shares broke out from a descending triangle and closed above the 50-day moving average in Monday’s trading session, potentially setting the stage for an upside trend reversal. What’s more, the relative strength index confirmed strengthening price momentum, with the indicator registering its highest reading since late February.
However, bears will argue that the stock remains in an established downtrend after the 50-day MA crossed below the 200-day MA back in April to form a “death cross,” a chart signal pointing to lower prices.
Investors should watch key overhead areas on Apple’s chart around $214 and $235, while also monitoring support levels near $193 and $180.
Read the full technical analysis piece here.
-Timothy Smith
Major Index Futures Mixed
July 02, 2025 08:45 AM EDT
Futures tied to the Dow Jones Industrial Average were up 0.1%.
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S&P 500 futures were down 0.1%.
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Nasdaq 100 futures slipped 0.3%.
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