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The markets are mixed on the heels of yesterday’s record session in which the Nasdaq Composite and S&P 500 extended their gains. Today, the Dow Jones Industrial Average is relatively flat while the Nasdaq Composite and S&P 500 are retreating slightly. Sectors of the economy are also giving a mixed showing, with consumer staple stocks higher while tech is under pressure.
Wall Street firm Goldman Sachs is bullish, saying in a note that the stock market’s remarkable recovery of 2025 is not over, predicting that it will take more ground in the coming weeks. The S&P 500 has now advanced 20% since its lows of the year in April. While the stock market rally is likely to stick around for July, Goldman Sachs traders warn that it could fizzle out in August.
EV leader Tesla (Nasdaq: TSLA) is pressuring the tech sector today, falling 6.2% after CEO Elon Musk returned to the political battlefield, restarting a social media wrestling match with President Trump, who threatened to scrutinize any government subsidies to Musk’s businesses. Separately, Amazon (Nasdaq: AMZN) has now unleashed 1 million of its warehouse robots, sending shares fractionally higher today.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Up 0.54 (+0.03%)
Nasdaq Composite: Down 89.77 (-0.46%)
S&P 500: Down 15.26 (-0.26%)
Market Movers
Chip stock Wolfspeed (NYSE: WOLF), which uses silicon carbide in its chip sets, is soaring by a whopping 172% after the company announced it would file for bankruptcy protection. Wolfspeed has been wrestling with too much debt, a situation worsened by weakened demand from the EV and industrial sectors.
Trading platform Robinhood (Nasdaq: HOOD) is tacking on 4% in today’s session amid a renewed cryptocurrency push in the U.S. and EU markets.
AeroVironment (Nasdaq; AVAV) is spiraling by 6.4% today after unveiling its plan to tackle debt, including the issuance of common stock and convertible senior notes.
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