{"id":6364,"date":"2025-09-06T17:21:06","date_gmt":"2025-09-06T17:21:06","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/6364\/"},"modified":"2025-09-06T17:21:06","modified_gmt":"2025-09-06T17:21:06","slug":"sp-500-falls-as-rate-cut-optimism-fizzles","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/6364\/","title":{"rendered":"S&P 500 falls as rate-cut optimism fizzles"},"content":{"rendered":"

An initial burst of optimism over a soft US jobs report <\/a>making a Federal Reserve rate cut this month a foregone conclusion didn\u2019t last long.<\/p>\n

The S&P 500 gave up early gains to close down 0.3%. The Nasdaq 100 eked out a 0.1% advance and the Russell 2000 outperformed with a 0.5% rise, though both indexes finished well off their highs of the day.<\/p>\n

Real estate was the best-performing S&P sector ETF while financials and energy each fell more than 1%.<\/p>\n

The day\u2019s bright spots were led by Broadcom, which rose 9.4% after the chipmaker beat top- and bottom-line estimates for Q3 and said its 2026 AI revenue outlook<\/a> will \u201cimprove significantly\u201d with OpenAI reportedly booked as a new customer. At the same time, Nvidia and No. 3 US chip player<\/a> Advanced Micro Devices were down 2.7% and 6.6%, respectively, as their rival\u2019s gain was their pain. Elsewhere…<\/p>\n

Lululemon stretched 18.6% lower after the athleisure giant topped Q2 estimates<\/a> but massively slashed its full-year outlook.<\/p>\n

Kenvue sank 9.2% following a WSJ report<\/a> that Health and Human Services Secretary Robert F. Kennedy Jr. will tie autism to prenatal use of Tylenol.<\/p>\n

Palantir shares were slightly bruised by the momentum-driven sell-off, falling about 2%, with its slide pushing the price well below the 50-day moving average<\/a>.<\/p>\n

Robinhood, and Interactive Brokers tumbled amid a broad reversal in momentum stocks.<\/a><\/p>\n

(Robinhood Markets, Inc. is the parent company of Sherwood Media, an independently operated media company subject to certain legal and regulatory restrictions.)<\/p>\n

Tesla jumped more than 3% after the company proposed an unprecedented roughly $1 trillion pay package<\/a> for CEO Elon Musk, according to proxy filings.<\/p>\n

Lucid surged nearly 14% following six days of losses after headlines misidentified Cantor Fitzgerald\u2019s lower split-adjusted price target<\/a> as a good thing.<\/p>\n

Salesforce shares rebounded 2.8%, after slipping Thursday, following the tech company\u2019s better-than-expected fiscal Q2 earnings<\/a> results.<\/p>\n","protected":false},"excerpt":{"rendered":"An initial burst of optimism over a soft US jobs report making a Federal Reserve rate cut this…\n","protected":false},"author":2,"featured_media":6365,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[138,220,111,139,69],"class_list":{"0":"post-6364","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-business","9":"tag-markets","10":"tag-new-zealand","11":"tag-newzealand","12":"tag-nz"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/6364","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=6364"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/6364\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/6365"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=6364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=6364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=6364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}