The Final Tally: Market's Humbled As Tech Fumbles, Tesla Surges As Elon Promises to Stay...

The market finally took a breather, and by “breather,” I mean it tripped over its own shoelaces after sprinting uphill for six days straight. The Dow coughed up 114.83 points to close at 42,677.24. The S&P 500 dropped 0.39%, snapping its six-day winning streak and the Nasdaq slid 0.38% to 19,142.71. 

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The reason for the selloff? Blame tech. It’s always tech. After dragging the market higher for d*mn near a month, the magnificent seven (or what’s left of them) finally flinched. Nvidia dropped 0.9%, despite being Wall Street’s favorite GPU pusher. AMD, Meta, Apple, and Microsoft also decided to take a collective smoke break. Even Alphabet and Amazon weren’t immune, both dropping -1.52% and -1.01%, respectively. 

On the other hand, Tesla was the outlier of the day. Mainly because Elon opened his mouth and didn’t say something violently stupid for once. He confirmed at the Qatar Economic Forum that he’s “no doubt at all” sticking with Tesla for the next five years. Not exactly a formal contract, but apparently enough to get investors hot and bothered after weeks of “Is he gonna abandon us for X?” anxiety. 

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Meanwhile, Scotts Miracle-Gro is up 25% month-to-date even though it's down 5% YTD. The reason? Home Depot earnings showed that consumers are still willing to “trade up” for garden gear. Translation: rich people still want bougie lawns, and Jefferies thinks the private label apocalypse might be overstated.

Oh, and if you’re looking for the big winners of the day, 15 S&P 500 stocks hit new 52-week highs… 11 of which hit all-time highs. That includes names like TJX (which first IPO’d in 1987), McKesson (since 1983), and Monster Beverage, which proves that caffeine and sugar remain undefeated investment theses. Even Uber is now trading at all-time highs. Bigly. 

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So with that said, where does that leave us heading into tomorrow’s opening bell? Well, the market’s not panicking… it’s digesting. Tech finally exhaled, and investors are still allergic to anything that looks like tariff and interest rate uncertainty. Meaning, if you’re looking for a read into tomorrow… Wall Street is just guessing at this point. So place your bets accordingly, friends. Until next time… 

If you read all of this, congrats for having a 10 second attention span (better than me). As always, here’s our heatmap for today.

Stocks.News holds positions in Meta, Apple, Tesla, Microsoft, Alphabet, and Uber as mentioned in the article.