S&P 500 shakes off worst day since May with best day since May

All of Friday's worries were seemingly washed away over the weekend, with the S&P 500 posting a 1.5% gain in a widespread rally.

Your Evening Briefing August 04, 2025 S&P 500 shakes off worst day since May with best day since May All of Friday's worries were seemingly washed away over the weekend, with the S&P 500 posting a 1.5% gain in a widespread rally. The Nasdaq 100 gained 1.9% and the Russell 2000 led the way with a 2.1% advance, with the small-cap index the lone one of the trio to completely erase Friday's drop. The benchmark US stock index rebounded from its worst day since May with its best day since May, and 10 of 11 sector ETFs finished higher on the session. Energy was the lone holdout, while tech and communication services delivered the most upside. Gains on the day were led by Idexx Technologies which jumped 27% after the veterinary lab equipment maker dropped better-than-expected Q2 earnings and revenue. ON Semiconductor led S&P 500 decliners falling 15.6% after the chipmaker met Q2 estimates but saw weak sales in its two largest business units: automotive and industrial. Tesla shares rose 2.2% after the company's board approved an "interim" stock award of 96 million shares for CEO Elon Musk, valued at nearly $30 billion at Tesla's Friday closing price. Joby Aviation shares jumped nearly 19% after the air taxi company said it plans to acquire the helicopter ride-share business of rival Blade Air for up to $125 million. Wayfair shares jumped double digits after the online home retailer delivered a massive Q2 earnings beat and its best revenue growth, even amid a shaky housing market. Trump Media & Technology Group rose as much as 2% in pre-market trading before closing modestly lower after the owner of Truth Social and a swath of crypto assets unexpectedly dropped Q2 results Friday evening. Outside of earnings… American Eagle shares soared almost 24% after President Donald Trump praised the retailer's hotly discussed new marketing campaign with actress Sydney Sweeney. Spotify jumped 5% after the music streaming giant announced another round of premium subscription price hikes as the company tries to cue up more profits. Nio shares fell 8% as fierce competition squeezed China's EV market, with the electric automaker reporting a month-over-month drop in July sales. — Luke Kawa, Markets Editor & Nia Warfield, Markets Writer Opendoor surges on decision to forgo reverse stock split The move will keep call-buying optically cheap for retail investors. Read more. The same force that's made meme stocks crazy is also keeping the stock market from going bonkers It's all Greek to me. Read more. POST-MARKET MOVE Hims slides after Q2 revenue miss The telehealth company reported quarterly revenue that missed Wall Street's expectations. Hims posted earnings per share of $0.17, higher than the $0.15 analysts polled by FactSet were expecting. But it also reported $544.8 million in revenue, less than the $552 million the Street was penciling in. Read more. Palantir beats Q2 earnings and revenue expectations The Denver-based defense, data, and AI software company reported quarterly sales of over $1.004 billion for the first time. ThredUp's CEO dishes on its AI-first mentality and what's driving the resale gold rush Shares are up 500%+ over the past year as Gen Z, tariffs, and AI help supercharge the secondhand fashion market. ChatGPT says maybe you should spend less time on ChatGPT OpenAI's chatbot to offer "gentle reminders" when you've been using it for too long and is "developing tools to better detect signs of mental or emotional distress."  Starbucks was America's fastest growing fast food chain last year, while Subway keeps shedding stores Meanwhile, competition in the fried chicken space is only intensifying — but, somehow, new brands are still finding ways to grow. Rivian is suing Ohio over the state's "irrational" ban on direct car sales Rivian filed a lawsuit against the Ohio Bureau of Motor Vehicles on Monday. Berkshire Hathaway dips after lackluster Q2 results, $3.8 billion hit on Kraft Heinz stake Both operating earnings and revenues fell year on year, and Berkshire didn't buy back any stock for the fourth consecutive quarter. As ethereum snaps five-week rally, whale buys the dip One wallet address scooped up roughly $282 million worth of ethereum in the last five days. Boeing's second strike in a year begins as 3,200 fighter jet workers walk off the job Boeing's union defense workers rejected a contract proposal last month. The US patent system could be getting a price hike — tech giants could be hit the hardest Last week, President Trump floated a major change to the way America protects private intellectual property rights, which could hit IBM, Apple, Google, and others hard. Bitcoin ETFs end inflow streak The funds recorded their first net outflow in weeks. Fandom is big business, and Wattpad is poised to cash in Wattpad wants to be the go-to destination for fans of existing IP as well as young creators looking to stir up new audiences for their own original stories. Was this email forwarded to you? Don't miss out on future stories — subscribe to The Wrap and get your daily dose of financial news straight to your inbox.  Craving more insights in your inbox? Subscribe to Chartr and Snacks for quality reads. We care what you think! If you have any feedback or comments, feel free to reply and let us know your thoughts!  Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... See more Sherwood Terms and Conditions Our Editorial Standards Contact Us Advertise With Us Unsubscribe Privacy Policy