S&P 500 goes nowhere, Nasdaq 100 hits another record, small caps tumble
Warner Bros.
Warner Bros. Discovery led gains for the second day in a row, and only three S&P 500 sector ETFs finished in the green.
Your Evening Briefing
September 12, 2025
S&P 500 goes nowhere, Nasdaq 100 hits another record, small caps tumble
The good: the Nasdaq 100 rose 0.4% to close at a record high for three consecutive sessions, the first time that’s happened since late July.
The meh: the S&P 500 finished down less than 0.1%.
And the ugly: the Russell 2000 sank 1%.
Only three S&P 500 sector ETFs finished in the green: communication services, consumer discretionary, and utilities. Health care and utilities were the worst performers.
Warner Bros. Discovery led gains for the second day in a row, jumping 16.8% after the Wall Street Journal reported that Paramount Skydance is preparing a takeover bid for the media giant. Declines were led by Moderna, which sank 7.4% after The Washington Post reported that the Trump administration plans to link the coronavirus vaccine to 25 child deaths. Shares of Pfizer were also down 3.9%. Elsewhere…
Tesla shares leapt 7.4% following reports that the EV maker now has a permit to test its autonomous vehicles in Nevada.
Microsoft rose 1.8% after the tech giant and OpenAI announced a “non-binding memorandum of understanding” for their renegotiated $13 billion partnership, which had been a source of recent tension between the two companies.
Super Micro Computer jumped 2.4% after the company announced it has started shipping “Plug-and-Play (PnP)-ready” racks powered by Nvidia’s new Blackwell Ultra chip.
Six Flags popped 7.8% after the amusement park operator reported a rebound in attendance and early season-pass sales heading into the fall.
Restoration Hardware fell 4.7% after the luxury furniture brand missed Q2 estimates and tightened its full-year outlook, as tariffs and housing market softness squeezed margins.
More than 40% of American adults now report being online “almost constantly.” The new survey showed Japan has the greatest share of perpetually online people, though. Read more.
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