Traders took the opportunity of a strong market open to continue the selling from yesterday’s close.
The S&P 500 was as high as 5943, or 0.9% above yesterday’s close, and has drifted lower by more than 40 points.
Stock market leaders are mostly higher today, though Salesforce is lower following the software stalwart’s poor forward guidance.
Market breadth shows a majority of stocks lower on the day, although among the S&P 500 constituents, breadth appears to be mixed.
Which stocks are trading on interesting (higher than normal) volume today?
Nvidia, of course, is trading three times normal volume. Salesforce (CRM) is hitting eight times normal volume. But so is Uber (UBER) , with the ride-share company’s shares falling nearly 5%.
Related: Nvidia stock surges after earnings surprise
One tweet I wanted to share today was from our friends at Sentimentrader. While this hardly calls into question the current rally and uptrend off the April lows, their study suggests that the rest of 2025 could be rockier than some hope.
And at TheStreet Pro, Doug Kass, a prominent longtime hedge-fund manager, has often said that investors haven’t faced the huge number of potential outcomes — social, political, economic, many more — as they have in the past year.
The latest uncertainty, he says in The Daily Diary, is the implications arising from the tariff ruling. “Will interest rates rise more swiftly, will the Fed pause in 2025, will proposed tax cuts be reduced and/or what will the administration’s reaction be (as Trump goes through other channels to produce his intended policy (e.g. Section 122)?” he asks.
Happy Thursday!
Wednesday brought us surprises that will have broad effect on today’s trading.
We thought the big news would be Nvidia (NVDA) , which reported better-than-expected earnings and revenue. The chipmaker also projected $45 billion in sales for Q2, which is better than analysts feared, given $8 billion in lost sales to the Chinese.
