Wed, Jul 2 20254:13 PM EDT

The S&P 500 and the Nasdaq Composite finished Wednesday's session in the green.

The broad market index rose 0.47% to close at 6,227.42, while the tech-heavy Nasdaq jumped 0.94%, finishing at 20,393.13. The blue-chip Dow Jones Industrial Average, meanwhile, dropped 10.52 points, or 0.02%, to end the day at 44,484.42.

— Sean Conlon

Wed, Jul 2 20253:25 PM EDT

Markets have largely ignored some signs that the U.S. economy could cracking over more front-and-center concerns tied to tariffs, according to Rational Dynamic Brands Fund portfolio manager Eric Clark. Once clarity on tariffs comes, he said, markets could then turn to the uncomfortable data and a potentially slowing job market.

"Through the trees it's clear that lower growth because of higher U.S. debt and demographics and higher inflation is going to be the outcome," Clark told CNBC. "So the market will start looking at that and more closely scrutinizing multiples...there's definitely some kind of reckoning to come"

— Brian Evans

Wed, Jul 2 20252:58 PM EDT

The setup for European equities looks attractive now that the S&P 500 has once again returned to all-time highs, according to Barclays.

Emmanuel Cau, head of European equity strategy at Barclays, said the STOXX Europe 600 could soon break out to new highs. He thinks the index could end the year at 570, implying more than 5% upside for the index. The index is up 6.7% year to date.

"We think equities will most likely continue to climb the wall of worry in H2," Cau wrote Wednesday in a note with the title, "Breakout in the waiting." "Overall, no plain sailing but we think this should help Stoxx 600 break out to new highs and reach 570 by year-end, led by rotation into ytd laggards/tariff losers/exporters as Momentum looks stretched."

STOXX Europe 600, year to date

Of course, the index, which has been rangebound since February, has a number of challenges ahead of it, including ongoing tariff uncertainty and any fallout from the massive U.S. federal spending bill. But Cau said the risk/return profile is more attractive, now that uncertainty has likely peaked. A lower bar to clear for earnings and an accommodative central bank should also help European stocks.

— Sarah Min

Wed, Jul 2 20252:34 PM EDT

A hiring sign is displayed in an Auto Zone store window on June 25, 2025 in Austin, Texas.

Brandon Bell | Getty Images

The latest ADP payrolls report was bad news for small businesses, according to Ross Mayfield of Baird.

The report, which showed a loss of 33,000 jobs in June, revealed that businesses with less than 20 employees saw a net loss of 29,000 jobs. Businesses with more than 500 employees tallied a 30,000 increase in payrolls, however.

"A lot of the job loss was concentrated in small business, which is maybe not surprising given the given the economic backdrop, but I think it's meaningful given just how many people are employed by small and private businesses," the investment strategist said. "We focus so much on the stock market, but that's the primary driver of employment in this country, so not ideal to see small businesses shutting jobs like that."

— Sean Conlon

Wed, Jul 2 20252:12 PM EDT

Centene shares headed for their worst day on record after the health care company pulled its full-year guidance.

The company announced Tuesday afternoon that it was withdrawing its previously announced outlook for GAAP and adjusted diluted earnings per share in 2025. Shares tumbled more than 39% in midday trading Wednesday, making it the worst performer in the S&P 500.

Centene, 1-day

With Wednesday's sell-off, the stock is now down more than 43% on the year. That would make 2025 the worst year in the company's history and fourth straight losing year.

— Alex Harring

Wed, Jul 2 20251:40 PM EDT

Shares of Robinhood rose sharply on Wednesday.

A spot in the index is now open after Hewlett Packard Enterprise closed its acquisition of Juniper Networks. Gordon Haskett analyst Don Bilson said in a note to clients that Robinhood seems to be one of the leading candidates to join the index.

"We'd expect the selection committee will make a move by the end of day. The betting public seems to like RobinHood's (HOOD) chances. Ares and AppLovin (APP) are also in the mix," the note said.

— Jesse Pound

Wed, Jul 2 20251:15 PM EDT

The logos of the cryptocurrencies Bitcoin (BTC), Ethereum (ETH), the stablecoin Tether (USDT) and Binance Coin (BNB) can be seen on the trading platform CoinMarketCap.

Silas Stein | Picture Alliance | Getty Images

Stocks tied to the price of ether, better known as ETH, were higher on Wednesday, reflecting renewed enthusiasm for crypto asset amid a surge of interest in stablecoins and tokenization — two crypto industry trends largely supported by the Ethereum network.

BitMine Immersion Technologies, a bitcoin miner which this week announced plans to make ETH its primary treasury reserve asset, jumped another 14%. It's gained more than 1,000% since the announcement. Betting platform SharpLink Gaming, which has also initiated an ETH treasury strategy, added more than 16%. Bit Digital, which last week exited bitcoin mining to focus on its ETH treasury and staking plans, jumped 6%.

On Tuesday, as bitcoin ETFs snapped a 15-day streak of inflows, ether ETFs saw $40 million in inflows led by BlackRock's iShares Ethereum Trust. ETH ETFs came back to life in June after much concern they were becoming zombie funds.

The price of the coin itself was last higher by 6%. It's been struggling with an identity crisis fueled by uncertainty about Ethereum's value proposition and weaker revenue since its last big technical upgrade and increasing competition from Solana. Market volatility driven by geopolitical uncertainty this year has not helped. Ether is down 23% this year.

For more read the full story here.

— Tanaya Macheel

Wed, Jul 2 202512:39 PM EDT

Check out the stocks making big midday moves Wednesday:

• Robinhood —  The brokerage stock climbed 7% as traders speculated that it could soon be added to the S&P 500. A spot in the index was opened by Hewlett Packard Enterprise's acquisition of Juniper Networks, which officially closed on Wednesday.
• Tesla — Shares of the electric vehicle maker jumped 4% after second-quarter vehicle deliveries came in about in line with estimates. Tesla delivered 384,000 vehicles during the period, a 14% decline from a year ago. The number was just shy of analyst estimates of 387,000 deliveries, according to FactSet. This is its second straight quarterly drop.
• Rigetti Computing — Shares gained nearly 7% after Cantor Fitzgerald initiated coverage of the quantum computing company with an overweight rating. Analyst Troy Jensen said: "Quantum computing is in its infancy but remains one of the most highly coveted technical milestones with enormous economical implications. While we are likely years away from full-scale quantum capabilities, the technology has already captured the interest of investors."

Read here for the complete list of names.

— Christina Cheddar Berk

Wed, Jul 2 202512:13 PM EDT

Inside a Crocs store at Queens Center in New York.

Ryan Baker | CNBC

Stocks with exposure to Vietnam initially popped after President Donald Trump announced a trade deal with the country. They have since given back those gains following more details that Vietnam will pay a 20% levy on goods to the U.S., and 40% on goods that originated from another country.

Here are the stocks Wall Street firm Stifel identified back in April with substantial exposure to Vietnam.

• Columbia Sportswear Company – 48% exposure to Vietnam
• Crocs – 44%
• Deckers Outdoor – 64%
• Lululemon Athletica – 40%
• Nike – 44%
• On – 88%
• Skechers – 40%
• Under Armour – 30%
• V.F. Corporation – 26%

— Tom Rotunno, Sarah Min

Wed, Jul 2 202511:46 AM EDT

The S&P 500 hit a fresh all-time intraday high of 6,215.80 in midday trading, surpassing Monday's previous all-time high of 6,215.08.

The move follows President Donald Trump's announcement of a trade deal with Vietnam.  

— Chris Hayes, Sarah Min

Wed, Jul 2 202511:20 AM EDT

NKE, 1-day

Wednesday's gains puts the stock's one-week incline at almost 24%. Shares are still marginally lower on the year, however, falling 0.4% year to date.

— Sean Conlon

Wed, Jul 2 202510:39 AM EDT

The Nasdaq Composite and S&P 500 rose after President Donald Trump said on Truth Social that he "made a Trade Deal with Vietnam." He added that details will follow at a later time.

The tech-heavy Nasdaq reached its high of the day and was last up 0.7%. The S&P 500 gained 0.2%. Tech stocks Nvidia and Apple also caught a bid after the post.

— Fred Imbert

Wed, Jul 2 20259:58 AM EDT

Shoppers walk in front of a Ross Dress For Less store at Monroe Marketplace in Pennsylvania.

Paul Weaver | SOPA Images | Lightrocket | Getty Images

Jefferies upgraded Ross Stores to buy from hold Tuesday, citing the stock's wide valuation gap to its peers and the opportunity for margin improvement. The firm also raised its price target to $150 from $135, implying more than 15% upside from Monday's close.

"We view ROST as well positioned to outperform as comps should accelerate through YE (easy compares, support from ladies' apparel improvement, refinement of better & best brands)," analyst Corey Tarlowe said in a note.

He believes Ross Stores can return to earnings before interest and taxes expansion next year, despite potential tariff headwinds.

The stock was up nearly 2% in premarket trading. It has lost 14% year to date.

— Michelle Fox

Wed, Jul 2 20259:31 AM EDT

Stocks traded down on Wednesday morning.

The S&P 500 dropped 0.1% shortly after 9:30 a.m. ET, as did the Nasdaq Composite. The Dow Jones Industrial Average also declined 28 points, or 0.1%.

— Sean Conlon

Wed, Jul 2 20259:20 AM EDT

TSLA 5D chart

During the period, Tesla delivered 384,000 vehicles. This marked a 14% year-over-year decline and also came under the 387,000 deliveries analysts had expected, according to FactSet.

It was also Tesla's second quarterly drop in a row.

— Lisa Kailai Han

Wed, Jul 2 20258:43 AM EDT

A sign hangs on the outside of a Chase bank building on April 11, 2025 in Miami, Florida.

Joe Raedle | Getty Images

Check out the companies making headlines before the bell.

• JPMorgan Chase, Bank of America, Wells Fargo, Goldman Sachs, Citigroup — Major bank stocks rose less than 1% after the firms said they plan to hike dividends after receiving stress test results from the Federal Reserve. JPMorgan also announced a new stock buyback program.
• Rigetti Computing — Shares gained nearly 2% after Cantor Fitzgerald initiated coverage of the quantum computing company with an overweight rating, and a $15 price target implying more than 30% upside from Tuesday's close. Analyst Troy Jensen said: "Quantum computing is in its infancy but remains one of the most highly coveted technical milestones with enormous economical implications. While we are likely years away from full-scale quantum capabilities, the technology has already captured the interest of investors."
• Centene — Shares of the managed care giant plummeted 30% after Centene withdrew its 2025 guidance, saying that recent data the company received shows lower enrollment rates in health insurance marketplaces in several states.

For the full list, read here.

— Pia Singh

Wed, Jul 2 20258:21 AM EDT

Private payrolls fell by 33,000 in June, payrolls processing firm ADP reported Wednesday.

The figure missed the increase of 100,000 jobs that economists polled by Dow Jones had expected. Job growth in May was also downwardly revised to 29,000.

— Sean Conlon

Wed, Jul 2 20257:56 AM EDT

Major bank stocks were poised to open higher on Wednesday after the firms announced they would be returning more capital to shareholders following the Federal Reserve's stress tests.

JPMorgan analyst Vivek Juneja said in a note to clients that the dividend increases for stress test banks as a whole were "higher than expected."

Here are some of the changes from the biggest firms:

JPMorgan Chase — Hiking dividend to $1.50 per share from $1.40 previously and authorizing a $50 billion stock buyback program

Bank of America — Hiking dividend to 28 cents per share from 26 cents

Wells Fargo — Hiking dividend to 45 cents per share from 40 cents

Goldman Sachs — Hiking dividend to $4.00 per share from $3.00

Citigroup — Hiking dividend to 60 cents per share from 56 cents.

— Jesse Pound

Wed, Jul 2 20256:03 AM EDT

A Tesla dealership in San Francisco, California, US, on Tuesday, July 1, 2025.

David Paul Morris | Bloomberg | Getty Images

TSLA 5-day chart

Tue, Jul 1 20257:46 PM EDT

Verint Systems in the past day

The people told Bloomberg that there is no certainty the parties will reach an agreement.

Verint is down 32% in 2025.

—Darla Mercado

Tue, Jul 1 20257:38 PM EDT

A woman poses for a photo with the "Charging Bull" sculpture in New York City, U.S., April 9, 2025. 

Kylie Cooper | Reuters

The broad market index has been on a big run – and additional gains may be ahead, according to a key technical pattern.

The S&P 500 formed a "golden cross" on Tuesday, which is when its 50-day moving average crosses above a rising 200-day moving average. Traders view this as a bullish signal for momentum. The last time the broad market index formed a golden cross was in July 2020 as stocks were recovering from the pandemic-induced sell-off.

History suggests that further gains could be around the corner: The S&P 500 has risen on a six-month basis following the past 11 golden crosses. The index has also advanced on a three-month basis after the past nine golden crosses.

However, there are exceptions: After the S&P 500 formed a golden cross in May 1990, it dropped 12% over the next 12 months. The benchmark also formed a golden cross in April 2019, with the index sliding nearly a year later in the throes of the Covid sell-off.

—Nick Wells, Darla Mercado

Tue, Jul 1 20256:39 PM EDT

Short sellers have lost $300 billion or 22% since the stock market bottom on April 8, according to S3 Partners, a researcher that specializes in tracking short selling.

Over the same time, the S&P 500 and Russell 3000 indexes have each risen 24% while the Nasdaq Composite is higher by 33%, S3 said.

Eben with the the latest losses, short interest is still up by $139 billion, or 10.5%, in 2025, according to figures from Ihor Dusaniwsky, S3's head of predictive analytics. By sector, the largest losses since the April bottom (through Friday, June 27) came in technology, down $105 billion, consumer discretionary (-$41 billion) and industrial stocks (-$37 billion). By company, the largest losses in dollar terms were in Nvidia, Tesla and Microsoft.

The most profitable trades for short sellers since the April low came in UnitedHealth Group, Sarepta Therapeutics and Bristol-Myers Squibb.

— Scott Schnipper

Tue, Jul 1 20256:21 PM EDT

Valera Golovniov | Sopa Images | Lightrocket | Getty Images

Centene stock in 2025.

Shares have slipped more than 6% in 2025.

— Brian Evans

Tue, Jul 1 20256:05 PM EDT

Stock futures were little changed on Tuesday, after investors took a breather from technology stocks during regular trading hours.

Futures tied to the Dow Jones Industrial Average slipped 9 points, or 0.02%. Nasdaq 100 futures lost 0.03%, while S&P 500 futures ticked down 0.04%.

— Brian Evans