Biggest S&P 500 Movers on Thursday
Recent Highlights
Advancers
- Solar energy stocks saw an uptick as Congress prepared to approve a substantial tax and spending bill championed by President Trump. Although the legislation plans to phase out federal tax credits for clean energy initiatives, the Senate’s final version excluded an added tax on solar and wind projects involving foreign entities. Notably, shares of First Solar (FSLR) surged by 8.5%, marking the S&P 500’s best daily performance, while Enphase Energy (ENPH) rose by 3.9%.
- The U.S. government lifted restrictions on semiconductor design software exports to China, prompting several industry firms to resume sales. Shares of Cadence Design Systems (CDNS) and Synopsys (SNPS) increased by 5.1% and 4.9%, respectively.
- CrowdStrike (CRWD) reached a record high, ending the day up 3.6% after Wedbush analysts raised the target price and referred to it as the “gold standard” in cybersecurity.
Decliners
- The unexpectedly strong jobs report dampened trader expectations for potential interest rate cuts from the Federal Reserve in July, impacting mortgage rates and consequently, home builder stocks. Lennar (LEN) led the decline, dropping 4.1%, while D.R. Horton (DHI) and NVR (NVR) fell by 2.7% and 1.9%, respectively.
- Bunge Global (BG) recently acquired Viterra, causing concerns over competition in grain markets. Despite Bunge’s optimistic outlook, shares slid 3.6%.
- Merck (MRK) experienced a 1.8% loss after failing to maintain early session gains amidst concerns surrounding its treatment, Keytruda, due to loss of exclusivity in 2028.
Reported by Michael Bromberg
Dow Posts Gains for Third Straight Week
This week saw major U.S. stock indexes enjoy substantial growth during the holiday-shortened trading period.
The Dow Jones Industrial Average climbed 2.3%, while the S&P 500 and Nasdaq Composite rose by 1.7% and 1.6% respectively. The gains mark the third consecutive week for the Dow and Nasdaq, with the S&P 500 achieving gains for the second week in a row.
The S&P 500 and Nasdaq Composite reached record highs four times over the past five days, while the Dow is just 0.4% shy of setting a new all-time high since December 4.
So far, in 2025, the S&P 500 and Nasdaq have surged nearly 7%, while the Dow has risen by 5.4%.
Nvidia Could be the First $4 Trillion Company
Nvidia (NVDA) is on the verge of becoming the most valuable company in history as its market cap approaches $4 trillion.
The AI chipmaker’s shares gained over 1%, closing at an all-time high of $159.34. This rise pushed its market capitalization to $3.89 trillion. If the stock had maintained its intraday highs of around $161, it would have eclipsed Apple’s market cap record of $3.91 trillion from December.
A further move to approximately $163.93 would mark Nvidia’s historic $4 trillion threshold, a milestone no other company has achieved. Microsoft (MSFT) is also in the running, with analysts predicting both companies may enter the $4 trillion club soon.
Summit Therapeutics Jumps on Report of AstraZeneca Deal
Summit Therapeutics (SMMT) shares soared Thursday on news of potential partnership discussions with AstraZeneca (AZN).
According to Bloomberg, AstraZeneca might invest up to $15 billion to license the lung-cancer treatment ivonescimab from Summit, with possible upfront and milestone payments involved. Summit has not responded to requests for comment, and AstraZeneca declined to speak on the matter.
Summit shares climbed over 8% on Thursday, contributing to an almost 40% year-to-date increase. Conversely, AstraZeneca’s U.S. shares fell more than 2% amid broader declines.
Wedbush Dubs CrowdStrike ‘Gold Standard’ in Cybersecurity
CrowdStrike Holdings (CRWD) shares surged to an all-time high Thursday after Wedbush raised its price target, calling the cybersecurity company the “gold standard” of the industry.
The new target is $575, up from $525, with the analysts maintaining an “outperform” rating. They noted increased momentum and strong performance heading into the next year.
CrowdStrike’s shares saw nearly a 4% rise to approximately $514 on Thursday, translating to a 50% increase since the beginning of the year.
Tesla Levels to Watch as Stock Rebounds from Sell-Off
Tesla shares climbed higher on Thursday, continuing their recovery from a previous steep decline caused by tensions between Elon Musk and President Trump.
The stock increased by 5% on Wednesday following the release of second-quarter delivery data, aligning with analysts’ expectations despite a year-on-year drop. This recovery countered a 5% drop from earlier Tuesday.
Investors should watch significant levels around $285 and $225 for support, while resistance is near $365 and $430. The stock recently traded up 0.4% at approximately $317.
