Closing Bell: Stocks Ease for a Second Day as Energy Outperforms
Indices slipped at the close while oil’s rebound lifted Energy; News drives momentum across materials, tech, and biotech.
Market Recap
• S&P 500: 6,637.97 (-0.3%)
• Dow Jones Industrial Average: 46,121.28 (-0.4%)
• Nasdaq Composite: 22,497.86 (-0.3%)
• Russell 2000: 2,434.98 (-0.9%)
The market pullback follows this week’s near-record levels and comes as investors recalibrate Fed-cut expectations; Energy strength tracked another up day in crude.
Stocks on the Move
Technology
Micron (MU) dipped after an upbeat print/AI outlook failed to impress at stretched YTD gains.
Oracle (ORCL) softened amid funding headlines; Adobe (ADBE) also edged lower on rotation.
Healthcare / Biotech
uniQure (QURE) surged after promising Huntington’s disease gene therapy data.
Energy & Materials
Freeport-McMoRan (FCX) fell on lowered sales guidance and safety incidents.
Lithium Americas (LAC) soared on reports of potential U.S. government involvement in its Thacker Pass project.
Consumer
Thor Industries (THO) gained on results, even as guidance stayed cautious.
Amazon (AMZN) ticked lower despite a broker upgrade; homebuilders broadly advanced on firmer new-home sales data.
Industrials
Cintas (CTAS) and several mid-caps drew attention around earnings timing today.
Market Tone
Energy led as crude extended gains on another U.S. stockpile draw; sector leaders included XEL, EQT, and PSX.
Mega-cap Tech lagged for a second day, weighing on the broader tape.
Key Takeaways
Second straight down day for the major indices, but levels remain near highs set earlier this week.
Stock-specific catalysts dominated: big moves in lithium, copper, and biotech overshadowed a quieter macro tape.
Energy strength tracked higher crude on inventory draw headlines.
Earnings sensitivity persists.
What to Watch Tomorrow
8:30 AM (ET): U.S. Initial Jobless Claims
Why It Matters - Watch for labor-market cooling signals.
8:30 AM (ET): Durable Goods Orders (Aug)
Why It Matters - Measures new orders placed with domestic manufacturers; often volatile due to large aircraft/transportation items. Provides a clearer view of core business investment trends and is closely watched for capital spending signals.
8:30 AM (ET): GDP (Q2, third estimate)
Why It Matters - Final revision to Q2 GDP numbers.
9:00AM (ET) Fed Vice Chair Bowman - Speech
Why It Matters - Chair Bowman is expected to discuss his Economic Outlook. Expect volatility during his speech.
Earnings Releases Tomorrow:
Pre-Market:
Post-Market:
Earnings slate: Multiple sectors - IT services, electronics, mfg., distribution, autos, software.
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