Sydney Sweeney is now moving the stock market: shares of American Eagle have continued to climb since the actress’s ad campaign was launched on Wednesday. That day, 13x more call options changed hands than the stock’s 20-day average, as r/WallStreetBets subredditors conducted their “due diligence” on the stock. Watch her ad campaign here. The S&P 500 just barely managed to eke out another record close. The Nasdaq 100 also cinched a record close, while the Russell 2000 sank 1.4%. Consumer discretionary was the worst-performing sector, weighed down by Tesla, which fell 8% after CEO Elon Musk pondered the company’s challenges on its Q2 earnings call. 🧠 Test your business knowledge with our Snacks Seven Quiz. Here’s a sample question: Based on its price-to-earnings ratio, what is the second-most expensive stock in the S&P 500 after Palantir? |
- Axon Enterprise
- Boeing
- CrowdStrike
- Tesla
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It’s not unusual to see shares pop when a company is set to join the S&P 500, an index now linked to a staggering $20 trillion in global assets. Just last Friday, Block soared 10% after its inclusion was announced, while Datadog spiked 15% on similar news earlier this month. Known as the “S&P 500 Index Effect,” this short-lived bump is fueled in part by fresh demand from $13 trillion worth of passive funds and ETFs tracking the benchmark, which are required to buy shares of newly added companies. But over the past decade, this effect had been losing steam. |
- According to a 2023 Harvard study, the average announcement-day return for S&P 500 additions dropped from 9.4% in the 1990s to just 0.8% by the late 2010s — partially because markets got better at absorbing these shocks and traders got better at predicting inclusions.
- Now, though, a new Goldman Sachs analysis suggests the inclusion effect may be staging a comeback.
- Since 2021, stocks newly added to the S&P 500 have outperformed the equal-weighted index by an average of 4 percentage points on the announcement day — with nearly three-quarters of those stocks beating the benchmark.
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Retail hype may also be adding fuel, with recent entrants like Coinbase, Super Micro Computer, Palantir, and Datadog already beloved by traders ahead of their debut — and tied to popular themes like AI or crypto. |
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One factor driving the revival? Fewer companies are migrating from the S&P MidCap 400 Index. Per Goldman’s estimate, stocks added from outside the S&P 400 have seen average relative gains of 5.3 percentage points since 2013, while those graduating from the midcap index actually dipped 0.4 pp. |
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Here’s Your Chance To Invest in Worksport’s Unlisted Preferred Stock for $3.50 |
Common stock shares of Worksport (Nasdaq: WKSP) reached a high of $4.77 in July (with a 7/23 closing price of $3.81)1 after they reported a 50% production increase and 2X margin growth.2 But there’s a way to invest for just $3.25 today that you won’t find on the Nasdaq. This special unit offering includes one unlisted preferred share convertible to common stock anytime, plus one warrant to buy an additional share and an 8% cash dividend yield for two years. All for $3.25 per unit.3 Worksport will continue to scale with the fall 2025 launch of their solar + battery mobile power system — an on-the-go source to power everything from off-grid camping to construction sites. Invest in Worksport’s preferred stock now at $3.25/unit.3 1 The 52-week range for WKSP is $2.44 to $12.00 as of 7/23/25. |
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ServiceNow CEO Bill McDermott isn’t saying that artificial intelligence will save your soul, but he’s not not saying it. “We’re slowing down the hiring in jobs that are — quite frankly — soul-crushing jobs,” he said in an interview on Bloomberg TV that followed the release of the cloud software company’s impressive quarterly earnings. |
- “The supporting cast of the soul-crushing work is now being done by agents,” he said. “They work hard 24 by 7, you don’t have to pay ’em, and they don’t need any lunch, and they don’t have any healthcare benefits, so they’re very affordable and that really complements our workforce.”
- He highlighted fields like IT and customer support as well as security and risk management as areas where AI was reducing ServiceNow’s need for labor.
- ServiceNow is still hiring, but hiring less for these functions, McDermott clarified, saying that he expects this approach to be adopted by “all well-run companies.”
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“For those people in the procurement team, we can give them a new interface with AI agents that’s going to automatically do a lot of their soul-crushing manual work,” Josh Kahn, senior vice president and general manager of core business workflows, said back in May. “So instead of spending four days prioritizing potential sourcing events, they’re going to spend five days executing on real high-value sourcing opportunities.” |
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It’s not controversial to assess the state of AI and surmise that it’s going to cause a lot of job loss, and understandably people are getting skittish about their job getting the axe. The data out of ServiceNow, if anything, is an indication that at least some of the work that’s getting automated away is indeed boring, tedious, and unpleasant. |
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