US stocks grind higher as volatility dissipates |
No news was good news for US stocks on Monday. The S&P 500 rose 0.2% in what was its fourth-smallest intraday range of 2025, as did the Russell 2000, while the Nasdaq 100 gained 0.5%. Tech was the standout S&P 500 sector ETF, while utilities was the big loser. Gains on the day were led by Take-Two, which rose 3.8% and hit a fresh all-time high. Declines were led by CVS, which fell 4.8% after a private investor meeting resulted in no forward guidance or details about its upcoming quality ratings from the US government. Elsewhere… |
- Shares of Robinhood and AppLovin continued to rally, jumping 15.8% and 11.6%, respectively, on news that both companies are being added to the S&P 500. (Robinhood Markets, Inc. is the parent company of Sherwood Media, an independently operated media company subject to certain legal and regulatory restrictions.)
- Broadcom leapt 3.2%, continuing its recent rally, as the chip designer basks in a flood of price target hikes and investor interest following new orders from a major new customer (reported to be OpenAI).
- Volkswagen drove about 4% higher after the German automaker said it is in close contact with the Trump administration and has had “good talks” about its separate tariff deal.
- UnitedHealth rose 1.6% after the health insurance provider disclosed that it plans to reiterate its full-year earnings outlook when it meets with investors this week.
- Hims & Hers rose 2.6% and Novo Nordisk slipped 1.7% after the US Food and Drug Administration released a “green list” of foreign GLP-1 ingredient suppliers that it considers in compliance with agency standards.
- Wireless providers including T-Mobile, AT&T, and Verizon were all down after SpaceX purchased a pair of wireless spectrum licenses from EchoStar for roughly $17 billion. EchoStar shares soared 19.9% on the news, as it now provides backdoor access to SpaceX’s privately-held stock.
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— Luke Kawa, Markets Editor & Nia Warfield, Markets Writer |
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It’s not the stock market versus the economy. It’s that the stock market is the economy. Read more. |
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