Ugly
SpaceX (SPCX 154.60, -30.40, -16.43%) retreated sharply for the third consecutive session, which contributed to the underperformance of the Nasdaq Composite.
Alphabet (GOOG 348.78, -18.68, -5.08%) was one of the worst-performing S&P 500 components, sinking below its 50-day moving average (365.20) after a top engineering executive, John Jumper, decided to leave Google DeepMind and join Anthropic. The headline added to lingering concerns over the company’s massive AI capital expenditure plans, with the stock now down nearly 8% in June.
Meta Platforms (META 563.85, -13.37, -2.32%) also traded lower
Netflix (NFLX 72.88, -4.50, -5.82%) fell to its lowest level since late 2024, and the communication services sector (-3.8%) ended the day as the worst-performing S&P 500 sector.
Amazon’s (AMZN 232.79, -11.60, -4.75%) weakness ahead of tomorrow’s Prime Day event weighed similarly on the consumer discretionary sector (-2.3%), and the Vanguard Mega Cap Growth ETF finished 1.4% lower.
Microsoft (MSFT 367.34, -12.06, -3.18%) a “magnificent seven” laggard
NVIDIA (NVDA 208.66, -2.03, -0.96%) also traded lower despite the strength across semiconductor names.
VeriSign (VRSN 248.05, -16.59, -6.27%) VRSN continues recent weakness, down now more than -20% from the mid-May all-time highs
Gen Digital (GEN 22.59, -1.59, -6.58%),
Moderna (MRNA 59.75, -4.21, -6.58%) MRNA gives back a decent amount of its recent gains (up more than +35.5% month-to-date into this morning’s open).
Pretty
Micron (MU 1211.38, +77.39, +6.82%) was a standout ahead of its earnings release Wednesday evening,
AI-infrastructure names Super Micro Computer (SMCI 35.46, +4.80, +15.66%) and Corning (GLW 209.85, +14.93, +7.66%) traded even higher.
Coherent (COHR 434.89, +45.32, +11.63%) is one of today’s better performers, mirroring broader strength in optical stocks like AAOI +9.3%, LITE +6.3%, and GLW +7.6%.