🚀 S&P 500 nearing new highs

Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. The S&P 500 surged to within a few points of a record high Thursday, driven by cooling tariff fears, strong corporate earnings, and renewed AI enthusiasm. The index closed at 6,141.02, just shy of its February peak, while the Nasdaq also neared a new record and the Dow climbed over 400 points. Markets rallied after the White House suggested upcoming “liberation day” tariffs might be delayed, easing investor anxiety. AI bellwether Nvidia hit a new high, and jobless claims came in below expectations, reinforcing confidence in the economy. The S&P 500 is now up more than 27% from April lows.

2. Core Scientific shares soared 35% Thursday after reports emerged that AI infrastructure firm CoreWeave is in talks to acquire the bitcoin mining company. The rally marked Core Scientific’s second-best trading day since relisting on the Nasdaq in early 2024. It pushed its market cap to nearly $5 billion, five times higher than CoreWeave’s prior rejected offer. The deal would solidify their existing $10.2 billion, 12-year partnership, which has been central to Core Scientific’s post-bankruptcy pivot from crypto mining to AI hosting. A final agreement could come within weeks, according to The Wall Street Journal.

3. Nike reported a 12% drop in quarterly sales and an 86% plunge in profits as deep discounting and wholesale shifts weighed heavily on margins, but the sneaker giant says the worst is behind it. Despite missing prior warnings about a Q4 low point, Nike beat earnings expectations and signalled moderation ahead, with CFO Matt Friend emphasizing a focus on controllable factors. Direct-to-consumer revenue slumped 14%, led by a 26% crash in digital sales, while store sales rose 2%. Investors now await guidance on turnaround progress, cost-cutting, and upcoming launches like its delayed Skims collaboration.

   Headlines

   1. Tesla has fired Omead Afshar, its head of manufacturing.

   2. Apple has revealed a new app store fee structure to comply with EU laws.

Are you looking to grow your business? Here is how I can help: 

📱Book a Strategy Call to get 1:1 feedback on your pitch, pitch deck and/or fundraising strategy. (If you need general startup advice, then reply to this email, and I’ll let you know if/how I can help.)

Better headshot. Better outcomes.

Your headshot should work as hard as you do. InstaHeadshots helps you show up with credibility, confidence, and clarity—in just 5 minutes.

Create your Headshots Now

Onwards and Upwards,

Liam Gill

*Disclosure: This is a paid advertisement for BOXABL’s Regulation A offering. Please read the offering circular here. This is a message from BOXABL