Market Overview

The S&P 500 reached a new closing record, gaining 0.8%, while the Nasdaq 100 increased by 0.9%. The Russell 2000 outshined them all with a 1.3% rise.

Most S&P sector ETFs ended the session positively, except for utilities. Notably, the consumer discretionary, industrial, and financial cyclical sectors each saw gains over 1%.

Leading the day’s profits, T. Rowe Price and Western Digital climbed by 5.8% and 5.4%, respectively. Conversely, CentreNed LEDs dropped by 4.7% after Barclays analysts reduced their target from $45 to $33.

As reported by Business Insider, Amazon’s stock increased by 4.3%, as the tech giant is set to leverage a new AI tool for a stronger impact in the enterprise software arena.

Opendoor Technologies experienced a significant boost, rising 16.3% after unveiling a new hub aimed at providing “consistent and transparent updates” to its dedicated investor community.

American Eagle’s shares skyrocketed by 38% following impressive second-quarter revenue figures and updated outlooks for the year.

Interestingly, the denim maker announced its expansion into beauty and accessories, with plans to open its first store this fall and roll out further locations by 2026.

HP Enterprise’s stock rose by 1.4% as the market absorbed the enterprise software company’s third-quarter revenue announcements from late Wednesday.

META shares increased by 1.6%, after the social media giant introduced an update to its threading app, allowing users to post up to 10,000 characters.

In contrast, Salesforce shares dipped by 4.8% despite the CRM company reporting stronger-than-expected second-quarter earnings, mainly due to a less optimistic software outlook for the upcoming quarter.

Figma’s stock plummeted nearly 20% after the design software firm disclosed its second-quarter results and began releasing 25% of locked securities held by certain employees and service providers.

JetBlue’s shares fell 6.6% as the airline projected a decrease in operating revenue per available seat mile for the third quarter.

Texas Instruments saw its shares drop by 4.3% after the CFO’s comments on potential tariffs raised concerns, with emphasis on the sales strength for the chipmaker.

Lastly, Rivian’s stock declined by 5.1% after the electric vehicle manufacturer announced layoffs in its commercial team, affecting less than 1.5% of its workforce.