Market Movers

S&P 500 — daily market movers

Macro backdrop

Indices rebounded, snapping a 4-day losing streak. The S&P 500 rose ~0.86%, the Dow +0.98% and the Nasdaq Composite +0.96%. August CPI landed roughly in line (0.4% m/m, 3.4% y/y; core slightly hot), and crude eased from recent highs (WTI ~$99) even as Treasury yields sat near 52-week highs and Fed rate-hike odds stayed elevated (~85%). The bounce was led by the AI-infrastructure complex after Oracle's ~$95B capex plan reignited AI-server demand.

Top 10 gainers

  • 1. HPE+12.44%
    Hewlett Packard Enterprise
    Enterprise servers, storage, networking and hybrid-cloud/AI infrastructure
    Oracle's ~$95B capex plan ignited AI-server demand across the group; HPE also carried recently raised guidance and strong Q3 figures.
  • 2. DELL+11.98%
    Dell Technologies
    PCs, enterprise servers, storage and AI-optimized data-center systems
    Oracle's massive AI-capex guidance lifted AI-server demand, and RBC initiated coverage with a buy, extending Dell's strong 2026 run.
  • 3. NTAP+8.54%
    NetApp
    Enterprise data-storage systems and hybrid-cloud data management software
    Beat on fiscal Q1 and raised its FY2027 outlook; storage-systems demand also lifted by the AI-infrastructure theme.
  • 4. ON+8.51%
    ON Semiconductor (onsemi)
    Power and sensing semiconductors for autos, industrial and data centers
    Rode the sector-wide AI data-center rally on demand for power/sensing chips; no confirmed standalone catalyst on the day.
  • 5. HPQ+8.40%
    HP Inc.
    Personal computers, laptops, and printers and printing supplies
    Lifted by the broad hardware rally and rotation into AI-related equipment makers; no company-specific news confirmed.
  • 6. CDW+7.85%
    CDW Corporation
    IT products and services reseller to business, government and education
    IT reseller benefited from stronger data-center equipment purchasing as the AI-infrastructure trade broadened.
  • 7. SMCI+7.28%
    Super Micro Computer
    High-performance servers and storage systems for AI and data centers
    Climbed on a record order backlog amid strong AI-server demand.
  • 8. FLEX+7.19%
    Flex Ltd.
    Contract electronics manufacturing and supply-chain services, incl. data-center hardware
    As a server/hardware contract manufacturer, gained on the AI hardware build-out cycle alongside the group.
  • 9. FIX+6.29%
    Comfort Systems USA
    Mechanical/HVAC and electrical contracting, including data-center construction
    Data-center construction continued to drive mechanical/HVAC and electrical contracting demand.
  • 10. ANET+5.61%
    Arista Networks
    High-speed data-center and cloud networking switches and software
    Strong AI data-center networking and switching demand lifted shares alongside the group.

Common Themes

Almost the entire top 10 is one trade: the AI data-center build-out. Oracle's ~$95B capex guidance was the day's spark, lifting server and storage-system makers (HPE, DELL, NTAP, SMCI), networking (ANET), power/sensing chips (ON), contract manufacturing (FLEX), IT distribution (CDW), PCs (HPQ) and even data-center construction (FIX). Several names had their own fuel on top of the theme: HPE's recently raised guidance, NetApp's beat-and-raise, and an RBC initiation on Dell.

Top 10 losers

  • 1. ALB-3.76%
    Albemarle
    Lithium and specialty chemicals for EV batteries and industry
    Lithium stocks slid as comfortable supply overwhelmed demand, pressuring lithium and specialty-chemical names.
  • 2. STX-3.73%
    Seagate Technology
    Hard-disk drives and mass-data-storage solutions
    Storage/memory names pulled back on supply-glut fears and profit-taking after a large run.
  • 3. SNDK-3.50%
    SanDisk
    NAND flash memory and storage products (SSDs, memory cards)
    Sold off on NAND/memory oversupply fears amid a broader memory selloff.
  • 4. WDC-2.98%
    Western Digital
    Hard-disk drives and data-storage devices
    Storage rally cooled; profit-taking after a strong run despite AI-driven growth.
  • 5. EW-2.77%
    Edwards Lifesciences
    Heart valves and cardiovascular medical devices
    No clear standalone catalyst; likely rotation out of defensive/medtech names into the AI-hardware trade.
  • 6. CPRT-2.60%
    Copart
    Online salvage and used-vehicle auction marketplace
    No obvious company-specific news; move looks consistent with sector rotation.
  • 7. UNH-2.37%
    UnitedHealth Group
    Health insurance (UnitedHealthcare) and health services (Optum)
    Slid as Medicare Advantage margins stayed in focus and the stock approached its ex-dividend date.
  • 8. PANW-2.32%
    Palo Alto Networks
    Enterprise cybersecurity platforms and network-security software
    High-multiple software pressured as Treasury yields hit fresh 52-week highs.
  • 9. CBOE-2.24%
    Cboe Global Markets
    Options, futures and securities exchange operator
    No clear standalone catalyst; exchange operator eased as money rotated toward AI hardware.
  • 10. EXE-2.11%
    Expand Energy
    Natural-gas exploration and production (largest US natural-gas producer)
    Natural-gas and energy E&P pressured as crude eased from recent highs.

Common Themes

The losers are more scattered than the gainers, but two clusters stand out. First, storage/memory components (STX, SNDK, WDC) fell on memory supply-glut fears and profit-taking after a big run, a notable divergence from storage-systems name NetApp, which rallied. Second, a rate-sensitive/defensive rotation: PANW (high-multiple software vs 52-week-high yields), UNH (Medicare-margin worries plus its ex-dividend approach), ALB on lithium oversupply and EXE on softer oil. EW, CPRT and CBOE had no clear standalone catalyst and read as rotation out of defensives.

Overall read

A classic risk-on rebound after a 4-day slide, tightly concentrated in the AI data-center hardware complex. Money rotated hard into servers, networking, power chips and data-center construction on Oracle's ~$95B capex signal, and out of memory/storage components, high-multiple software, defensives (health insurers, medtech, exchanges) and lithium.

Sources