Stocks Retreat from Records After Trump Announces More Tariffs; Bitcoin Hits New High Above $118,000

Biggest S&P 500 Movers on Friday

8 hr 47 min ago

Decliners

• PayPal (PYPL) shares fell 5.7%, retreating the most of any S&P 500 constituent. The payment processor’s stock came under pressure following reports that JPMorgan Chase (JPM) plans to begin charging financial technology companies for access to customer data. The move from the largest U.S. bank could have ripple effects as fintechs face fees for data that they previously received without direct charges.
• The re-escalation in trade tensions between the U.S. and Canada weighed on stocks with exposure to the northern neighbor. Shares of human resources software provider Dayforce (DAY) lost 5.2%. In addition to operating headquarters in Toronto as well as Minneapolis, Dayforce has a significant business presence in Canada, including a recently inked contract with with the Canadian government. Analysts have suggested that tariff-related impacts on its operations should be limited.
• Caesars Entertainment (CZR) shares declined 4.7%, giving back a portion of the gains posted in the prior session. Casino stocks came under pressure after regional gaming revenue reports from Indiana and Iowa showed that gaming win totals for casinos in those states were down year-over-year in June.
• Shares of United Airlines (UAL) sank 4.3%, adjusting their altitude a day after posting the S&P 500’s strongest gains with a double-digit surge. Although a strong earnings report and reinstated guidance from Delta (DAL) boosted sentiment around airline stocks this week, Democratic Senator Richard Blumenthal reportedly expressed concerns that a proposed partnership between United and JetBlue (JBLU) could be harmful to competition.  

Advancers

• Crude oil futures prices rose about 3% on Friday, with summer travel demand helping sustain the market as forecasts suggest that supply growth could lead to surplus conditions later in the year. Shares of oilfield services firm Halliburton (HAL) advanced 4.2%, notching the top daily performance in the S&P 500, as TD Cowen analysts lifted their price target on the stock. Shares of Halliburton rival Baker Hughes (BKR) added 2.5%.

• The Wall Street Journal reported that packaged food giant Kraft Heinz (KHC) is preparing for a restructuring plan that could involve spinning off a significant portion of its grocery business. Shares of the company, home to its namesake cheese and ketchup as well as an array of other well-known brands, gained 2.5%. News of the potential break-up of Kraft Heinz came a day after cereal maker WK Kellogg (KLG) said it had been acquired by Italian sweets company The Ferrero Group.

–Michael Brombeg

Major Indexes Post Modest Losses for the Week

9 hr 42 min ago

Despite hitting record highs this week, major stock indexes posted losses for the week amid renewed concerns about where trade policy is headed and how it could affect the U.S. economy.

The Dow Jones Industrial Average lost 1% this week, while the S&P 500 and Nasdaq Composite gave up 0.3% and 0.1%, respectively. The Dow and Nasdaq had three-week winning streaks snapped, while the S&P 500 lost ground for the first time in three weeks.

So far in 2025, the S&P 500 and Nasdaq have risen 6.4% and 6.6%, respectively, while the Dow has tacked on 4.3%.

Airline Stocks Cool After Delta Earnings Sent Them Flying

10 hr 1 min ago

Airline stocks, which soared yesterday after Delta’s latest results revived optimism about the sector, came back to earth a bit today. Some analysts, however, expect tailwinds to continue.

The Jets ETF (JETS), which includes several airline shares, fell more than 2% Friday, after climbing more than 7% yesterday. Delta Air Lines (DAL), American Airlines (AAL), and United Airlines (UAL), all of which logged double-digit advances yesterday, were in the red today. United closed about 4% lower, making it one of the biggest S&P 500 decliners, while American fell more than 5% and Delta ended the day slightly lower.

Yesterday’s gains were fueled by optimism coming out of Delta, which issued a better-than-Wall-Street expected third-quarter revenue projection and reinstated guidance, the latter of which was read as bullish after an uncertain start to the year. (Delta also reported continued strength in the premium seats business and, separately, a move toward more AI adoption.)

The Delta news “gave the market a bright green light to pile back into the space and investors duly obliged,” Morgan Stanley analysts wrote Thursday.

Several analysts responded to Delta’s report with upbeat moves of their own. Morgan Stanley edged its target for the airline $2 higher to $90, well above the Visible Alpha consensus around $64 and higher than any of the targets tracked by the service. Bank of America lifted its target to $67 from $60.

Some wariness remains, however. Deutsche Bank maintained its $63 price target, characterizing the company’s tone during its report as “cautiously optimistic.”

Delta’s shares remain down about 6% for the year, though they’ve climbed off April lows.

–David Marino-Nachison

AMC Jumps as Stock Gets Upgrade from Wedbush

11 hr 9 min ago

AMC Entertainment Holdings (AMC) shares soared Friday as Wedbush Securities upgraded the stock, saying the movie theater chain was “poised to benefit from a more consistent release slate over the next several quarters.”

AMC’s shares were recently up about 10%. Wedbush analysts upgraded them to “outperform” from “neutral,” writing that it “is positioned to gain market share in 2025 and 2026 with the most premium screens in North America and expansion plans” in Europe and the UK.

The analysts also said that AMC, for years considered a “meme stock,” has repaid or postponed all of its debt due next year, “relieving near-term uncertainty,” and is completing what it expects to be its last major share issuance for a while, “putting a significant headwind behind it.”

The stock remains about 17% lower this year, despite Friday’s surge. Wedbush’s new price target, $4, represents a 33% premium to Thursday’s close.

AMC is lightly covered on Wall Street. Still, before today, Visible Alpha tracked no “buy” or equivalent ratings on the shares.

–Aaron Rennie

Kraft Heinz Rises After Report of Possible Break-Up

11 hr 23 min ago

Kraft Heinz is planning a break-up, according to a report, a move that could undo a massive merger just a decade old.

The company is one of the world’s leading food makers, known for brands like Philadelphia cream cheese, Cool Whip, Maxwell House coffee and Stove Top stuffing. It could spin off part of its grocery business, The Wall Street Journal wrote Friday, citing people familiar with the matter, with a move possible within weeks.

Shares of Kraft Heinz (KHC), which were down more than 11% this year through Thursday’s close above $26, were recently up nearly 2%. The company’s market value is above $31 billion, according to Visible Alpha data.

The company said in May that deals were on the table.

Wall Street analysts have an average price target of near $28 on Kraft Heinz stock, according to Visible Alpha.

Today’s news follows another big food deal from earlier in the week. WK Kellogg (KLG) on Thursday said it agreed to be acquired by Italian sweets company The Ferrero Group,.

–David Marino-Nachison

AMD Stock Levels to Watch Amid Optimism About AI Chips

12 hr 43 min ago

Advanced Micro Devices (AMD) stock rose again Friday after surging yesterday following a note from analysts who suggested the company’s latest AI chips could take on Nvidia’s (NVDA) offerings.

Analysts at HSBC said AMD’s MI350 series chips are comparable with Nvidia’s current Blackwell chips and next generation MI400 chips, due for release next year, could compete with Nvidia’s next-generation Vera Rubin platform.

AMD shares have gained 22% since the start of the year. However, they have significantly unperformed Nvidia’s shares over the past 12 months due to the company’s inability to capture a greater share of the booming AI chip market.

Since bottoming in early April, AMD shares have traded higher in an orderly uptrend. More recently, the price broke out from a flag pattern in Thursday’s trading session on the highest volume in a little over a week, potentially signaling a continuation of the stock’s recent move higher.

In another win for the bulls, the 50-day moving average (MA) continues to converge up toward the 200-day MA, setting the stage for a golden cross signal. Meanwhile, the relative strength index confirms bullish price momentum, sitting just below the indicator’s overbought threshold.

Investors should watch overhead areas on AMD’s chart around $175 and $215, while also monitoring support levels near $135 and $115.

The stock was up 2% at around $147 in recent trading Friday.

Read the full technical analysis piece here.

–Timothy Smith

AeroVironment, Kratos Get Boost from Pentagon Drone Push

13 hr 17 min ago

Shares of military drone makers AeroVironment (AVAV) and Kratos Defense & Security Solutions (KTOS) took off Friday, a day after Defense Secretary Pete Hegseth announced new government plans to unleash drone production in the U.S.

In a video posted on X, Hegseth said he sent a memo to commanders of all the services explaining that he was “rescinding restrictive policies” on Pentagon purchases, which he said would boost the domestic manufacturing base by producing thousands of U.S.-made drones and prioritizing “buy American,” and that service personnel would be armed with low-cost, American-crafted drones. Hegseth added that senior officers had to “overcome bureaucratic risk aversion in budgeting, weaponeering, and training.”

Hegseth said that while U.S. “adversaries have produced millions of cheap drones, before us, we were mired in bureaucratic red tape. Not anymore.”

The news sent shares of Kratos Defense & Security Solutions up 12% to their highest level in 19 years. AeroVironment shares hit an all-time high June 30, and despite tumbling the next day after announcing a $1.35 billion stock and debt sale, the shares have added about two-thirds of their value this year, including a 10% gain Friday.

–Bill McColl

Levi Strauss Jumps After Strong Earnings, Boosted Outlook

14 hr 24 min ago

Shares of Levi Strauss (LEVI) soared Friday, a day after the denim retailer reported fiscal second-quarter results that topped analysis expectations and lifted its full-year outlook.

Analysts t JP Morgan noted that Levi’s management said it has seen “no signs of moderation in business momentum to date including June or 3Q-to-date,” as they lifted their price target to $23 from $18. The new target puts JPMorgan above the average price target of $20.63 held by the eight analysts tracked by Visible Alpha, split between six “buy” and two “hold” ratings.

Levi Strauss saw sales increase across all of its regions and in both of its men’s and women’s segments in Q2. The analysts noted executives said that the brand became the No. 1 women’s denim brand in the last 12 months.

Last quarter, Levi’s management said that it was considering price changes to mitigate the impact of tariffs, but said they planned to be “surgical” if they had to raise them at all rather than hiking prices across the board. JPMorgan analysts upgraded Levi stock to “overweight” from “neutral” following the Q1 report, but cut their price target on concerns that tariffs could hamper full-year profit.

Levi shares were up 11% at around $22 recently, trading at their highest level in more than a year.

–Aaron McDade

Bitcoin Surges to Near $119K as Record Run Continues

15 hr 23 min ago

Bitcoin (BTCUSD) topped $118,000 for the first time, surpassing Thursday’s record as it continued to gain from companies adding it to their corporate treasuries and lawmakers passing pro-crypto legislation.

Bitcoin was trading at $118,000 recent, after rising to about $118,900 earlier Friday.

Bitcoin has now gained more than 25% so far this year, outpacing the S&P 500’s rise of 7% and surpassing the surge by AI darling Nvidia (NVDA), which this week became this first company ever to surpass the $4 trillion market capitalization milestone.

Bitcoin surged earlier this year on retail investors buying into ETFs but took a hit, along with the broader stock market, after President Donald Trump imposed his “Liberation Day” tariffs in April. Since then, the cryptocurrency has gained from a wave of companies joining Strategy (MSTR) in loading up on bitcoin. 

Crypto has also gained increased legitimacy with President Trump establishing a strategic bitcoin reserve and the Senate passing the GENIUS Act, a bill that would enable private companies to issue stablecoins. These are cryptocurrencies with their value tied directly to a state-issued currency, often the U.S. dollar.

–Nisha Gopalan

Airline Stock Price Levels to Watch After Thursday’s Big Rally

16 hr 36 min ago

Airlines stocks were under pressure early Friday giving back some of the huge gains posted yesterday after Delta Air Lines (DAL) reported better-than-expected earnings and reinstated its full-year guidance.

Delta shares soared 12% on the results, while United Airlines (UAL) climbed 14% to lead S&P 500 advancers on Thursday and American Airlines (AAL) surged 13%.

Airline stocks had faced headwinds in the first half of the year due to soft travel spending as President Donald Trump’s trade policies dented consumer and business confidence, prompting carriers to lower their outlooks, or in the case of Delta, remove it. Delta CEO Ed Bastian said Thursday that the decision to restore full-year guidance reflected “our confidence in the business.”

Delta

Delta shares have broken out from a symmetrical triangle. Key overhead areas on the chart to watch sit at $59 and $70, while an important support level lies at $50. Delta shares were down 2% at $55.50 in the opening minutes of Friday’s session.

United

United’s stock oscillated within an ascending triangle before breaking out above the pattern and the 200-day moving average on Thursday. Crucial overhead areas sit at $104 and $116, while retracements may find support around $83. United shares fell about 2% to around $90 in early trading Friday.

American

American Airlines shares have broken out from a key horizontal line that stretches back to last September, which also marks the neckline of a double bottom pattern. Notable overhead areas to watch sit at $15 and $17.50, while the $12 level may provide support. American shares fell 2.5% to $12.60 recently.

–Timothy Smith

Major Stock Index Futures Move Lower

17 hr 44 min ago

Futures tied to the Dow Jones Industrial Average were down 0.6%.

S&P 500 futures also declined 0.6%.

Nasdaq 100 futures were off 0.5%.