Market Movers

S&P 500 — daily market movers

Macro backdrop

The S&P 500 closed down 0.58% at 7,673.52. The Dow led declines (the day's biggest loser, off roughly 600 points) while the Nasdaq finished roughly flat, cushioned by strength in semiconductors and AI-infrastructure names. It was a risk-off session: a U.S.-Iran military clash in the Strait of Hormuz pushed crude up about 1.9% (to ~$93/bbl), Canada's retaliatory tariffs on U.S. goods took effect, and a strong jobs report kept September Fed rate-hike fears alive. Money rotated out of healthcare and travel and into the AI-infrastructure and commodity complexes.

Top 10 gainers

  • 1. LITE+11.04%
    Lumentum
    Data-center optical modules, pump lasers and optical-communications components
    Sharp rally across the AI optical-networking group, sparked by AI-infrastructure deal news from Qualcomm and Corning that lifted optical-module names broadly.
  • 2. INTC+9.05%
    Intel
    Designs and manufactures CPUs, chips and offers foundry services
    Rallied on a reported CPU price hike plus optimism around an Nvidia equity stake and a ~$20B capital raise funding its AI and foundry pivot; analyst sentiment turned positive.
  • 3. HPE+7.75%
    Hewlett Packard Enterprise
    Enterprise servers, AI networking gear and cloud infrastructure
    Optimism on AI-networking demand; rode the broad AI-infrastructure rally.
  • 4. GLW+7.56%
    Corning
    Specialty glass, optical fiber and display and optical-communications materials
    AI-infrastructure partnership news (Qualcomm/Corning) drove expectations for optical-fiber demand.
  • 5. COHR+7.10%
    Coherent
    Lasers, optical-communications components and semiconductor materials
    Part of the same AI optical-networking rally as Lumentum; the group moved up together.
  • 6. STX+6.49%
    Seagate Technology
    Hard-disk drives and data-center storage systems
    Read-through from AI data-center storage demand; rose with the AI-infrastructure complex.
  • 7. CIEN+6.32%
    Ciena
    Optical transport and networking systems and software
    Lifted by the optical-transport / AI-networking theme running through the group.
  • 8. AMD+5.90%
    Advanced Micro Devices
    Designs CPUs, GPUs and AI data-center accelerators
    Broad chip strength on the AI trade, with Intel's news helping lift the whole semiconductor space.
  • 9. TPL+5.37%
    Texas Pacific Land
    Owns Permian Basin land and collects oil-and-gas royalties
    Likely tied to the day's ~1.9% jump in crude on Middle East tensions; no standalone company catalyst was found.
  • 10. FCX+5.35%
    Freeport-McMoRan
    Global copper miner, also producing gold and molybdenum
    Copper hit a record (~$14,694/ton), lifting the earnings outlook for the miner.

Common Themes

The gainers were dominated by the AI-infrastructure complex: optical networking (LITE, GLW, COHR, CIEN) plus compute/storage (HPE, STX) and semiconductors (INTC, AMD) took nearly the entire top eight. The trigger was AI-infrastructure deal news from Qualcomm and Corning together with Intel's capital raise and reported Nvidia stake. A separate small commodities pocket (FCX on record copper, TPL on the oil spike) rode the day's commodity strength.

Top 10 losers

  • 1. HWM-10.70%
    Howmet Aerospace
    Makes jet-engine turbine castings and aerospace fasteners
    Fell after SpaceX said it would build its own turbine castings, a vertical-integration threat; a GE Aerospace deal also weighed on sentiment.
  • 2. AMGN-10.08%
    Amgen
    Develops and makes biopharmaceuticals across oncology, cardiovascular and other areas
    A failed Novartis Lp(a) trial clouded the whole Lp(a)/cholesterol drug class (read-through to Amgen's olpasiran); BMO also downgraded the stock.
  • 3. SYK-8.81%
    Stryker
    Makes orthopedic implants and surgical medical devices
    Ongoing manufacturing/quality issues weighed, compounded by the broad healthcare-sector selloff.
  • 4. GDDY-8.32%
    GoDaddy
    Domain registration, web hosting and small-business website tools
    A Wells Fargo downgrade revived post-earnings concerns about customer acquisition.
  • 5. EXPE-7.88%
    Expedia Group
    Operates online travel-booking platforms for flights and hotels
    A weak revenue outlook plus Middle East conflict and travel-advisory fears hit travel names.
  • 6. IT-7.42%
    Gartner
    IT research, advisory and industry-conference services
    Continued fallout from a cut 2026 growth outlook and analyst pressure pushed the stock toward a 52-week low.
  • 7. BKNG-6.72%
    Booking Holdings
    Operates online travel-booking platforms including Booking.com
    Sold off with the travel sector alongside Expedia on Middle East / travel-advisory risk.
  • 8. BSX-5.90%
    Boston Scientific
    Makes cardiovascular and interventional medical devices
    A cyberattack/cyber incident hit the company and weighed on its guidance.
  • 9. FIS-5.90%
    Fidelity National Information Services
    Banking and payments fintech software and processing services
    Continued pressure from a guidance cut and cautious analyst commentary weighed on the fintech name.
  • 10. STZ-5.62%
    Constellation Brands
    Produces and distributes beer, wine and spirits (Modelo, Corona)
    Updated/cut its fiscal-2026 outlook, resetting guidance and targets.

Common Themes

Three threads ran through the losers. A healthcare/medtech cluster (AMGN, SYK, BSX) each had its own idiosyncratic catalyst — a drug-class trial read-through, manufacturing issues, and a cyberattack respectively — but healthcare was clearly the sector money fled. Travel (EXPE, BKNG) was hit by Expedia's weak outlook and Middle East / travel-advisory risk. And a cluster of names with weak guidance or downgrades (GDDY, IT, STZ, FIS) were punished for soft outlooks and analyst actions.

Overall read

A risk-off session driven by an oil-price spike, rate-hike fears and geopolitics. Money rotated out of healthcare, travel and soft-guidance names and into two themes: the AI-infrastructure complex (optical networking, semiconductors, storage) and commodity/energy-levered names (copper, oil royalties). The Nasdaq held roughly flat on chip and AI strength while the Dow took the biggest hit — sharp intra-market rotation under a modestly lower index.

Sources