Evening Market Recap

Sophia Reyes · June 25, 2025 5:22 PM

Market Snapshot for Wednesday 6-25-2025

Dow Jones – 42,982.43 (-0.25%)
NASDAQ – 19,973.55 (+0.31%)
S&P 500 – 6,092.16 (-0.00033%)

Market Performance

U.S. equity markets ended mostly unchanged on Wednesday, pausing after a two-day rally driven by easing geopolitical tensions in the Middle East. Growth-focused sectors led the session, with information technology and communication services among the top performers in the S&P 500, while most other sectors were flat or slightly down.

The Nasdaq Composite rose around 0.3%, lifted by a 4% gain in Nvidia (NVDA), which closed at a record high. The S&P 500 (^GSPC) came close to setting a new all-time high but finished the session nearly unchanged, just shy of its record. In contrast, the Dow Jones Industrial Average (^DJI) slipped by about 0.3%, losing just over 100 points.

Investors are closely watching the U.S.-brokered truce in the Middle East, which so far appears to be holding. No new strikes have been reported between Israel and Iran since Trump criticized both sides for violating the agreement aimed at pausing hostilities to allow for diplomatic efforts. As tensions eased, oil prices inched higher on Wednesday.

Economic Takeaways –

• May new home sales fell short of expectations, reinforcing signs of a cooling housing market after Tuesday’s weaker-than-anticipated home price data.
• In the bond market, longer-term yields held steady, the 10-year Treasury yield closed just under 4.3%, while the 2-year yield dipped to 3.77%.
• Fed Chair Jerome Powell appeared before the Senate Banking Committee on Wednesday for his second day of testimony. Powell reiterated that the inflationary effects of tariffs remain uncertain, emphasizing that the Federal Reserve is closely monitoring incoming economic data to determine how it could influence future monetary policy decisions. “There will be some inflation from tariffs coming, not yet, but over the course of the coming months,” Powell said.
• The Technology sector was the only sector in the green on Wednesday.
• Bank of America analyst Vivek Arya said in a report Wednesday that artificial intelligence could boost the AI data center market to $823 billion by 2030, up from $256 billion in 2025.

Gold –

• Gold prices were steady on Wednesday as market participants remained cautious ahead of key U.S. economic data.
• Spot gold was up 0.1% at $3,327.91 per ounce at 0158 p.m. EDT (1758 GMT) after prices hit their lowest in over two weeks in the previous session.

Oil –

• Crude Oil rose to 65.07 USD/Bbl on June 25, 2025, up 1.09% from the previous day.

Crypto –

• The price of Bitcoin rose again in trading on Wednesday, touching an intraday high above $108,000.
• A top federal housing regulator ordered Fannie Mae and Freddie Mac to look at allowing bitcoin and other crypto accounts to factor in mortgage qualifications in the future.
• The New York Stock Exchange asked for a rule change to allow the Bitcoin and Ethereum ETF to launch from President Trump’s Truth Social.

Fannie Mae and Freddie Mac Ordered to Consider Crypto as Asset for Mortgages

The head of the federal agency that regulates Fannie Mae and Freddie Mac is urging the mortgage giants to explore counting homebuyers’ cryptocurrency holdings when evaluating mortgages from lenders.

On Wednesday, Federal Housing Finance Agency Director William Pulte directed Fannie and Freddie to draft a proposal that would consider crypto assets as part of borrowers’ reserves during risk assessments for single-family home loans.

The order instructs the agencies to develop their proposals “as soon as reasonably practical.”

Fannie Mae and Freddie Mac—under government conservatorship since the Great Recession—purchase qualifying mortgages from banks, injecting liquidity into the housing market. Together, they back nearly half of the $12 trillion U.S. mortgage market, making them essential pillars of the nation’s housing finance system.

How Much Could Nike Stock Move After Thursday’s Earnings?

Nike (NKE) is set to report its fiscal fourth-quarter results after the market closes Thursday, and traders are bracing for a sizable move.

Options pricing implies the stock could swing by nearly 8%, or about $5 in either direction following the report. That suggests a potential trading range of roughly $66 on the upside or as low as $56 if results disappoint.

Nike shares have averaged an 8% increase in the sessions following its last four earnings releases, including declines of 5%, 6%, and nearly 20%, along with one minimal gain of 0.3%. In its previous earnings call, the company warned that tariffs and a shift toward new inventory could weigh on sales, particularly as older product lines lose momentum.

The stock is down about 20% year-to-date and nearly 40% over the past 12 months, as sales continue to weaken and leadership changes add uncertainty.

Wall Street expects Nike to report revenue of $10.73 billion for the quarter, a year-over-year decline of about 15%, with earnings per share plunging to $0.13 from $0.99. However, analysts at Bank of America say they’ll be more focused on Nike’s longer-term outlook under new CEO Elliott Hill and his turnaround efforts than on near-term numbers.

For now, sentiment remains mixed: Of the 17 analysts tracked by Visible Alpha, eight rate the stock a “hold,” another eight call it a “buy,” and one has a “sell” rating. The average price target is around $72—an 18% premium to Wednesday’s close.Top of Form

Trump Granted ‘Golden Share’ Control in U.S. Steel Buyout—Future Presidents Won’t Get the Same

As part of the national security agreement enabling Nippon Steel’s takeover of U.S. Steel, President Donald Trump will retain direct control of a special “golden share” power, according to new disclosures filed with the U.S. Securities and Exchange Commission.

This provision allows Trump to appoint a board member and influence key decisions that impact domestic steel production and competition with foreign producers. The authority remains with Trump—or someone he designates—for as long as he is in office.

However, under future presidents, this power will shift to the Treasury and Commerce Departments, according to the filings. The White House has not commented on why Trump will personally hold the authority while in office, nor why it transitions to government agencies under future administrations.

The $15 billion deal, finalized last week, makes U.S. Steel—long seen as a symbol of American industry—a wholly owned subsidiary of Japan-based Nippon Steel.

Top Gainers

Several stocks experienced significant gains. Some of the top gainers included:

• QuantumScape Corp. (QS) moved higher 30.95%
• AeroVironment, Inc. (AVAV) soared by 21.55%
• Nektar Therapeutics (NKTR) exploded 19.10%
• TMC the metals company (TMC) surged 13.31%
• Light & Wonder, Inc. (LNW) rose 10.09%
• Super Micro Computers (SMCI) moved up 8.80%
• Korea Electric Power Corp. (KEP) rose 8.64%
• Symbotic, Inc. (SYM) spiked 8.42%
• Scholar Rock Holding Corp. (SRRK) moved up 7.18%
• Mirion Technologies, Inc. (MIR) surged 6.12%

Top Losers

The top US stock losers today, based on percentage change included:

• SiTime Corp. (SITM) moved lower 15.67%
• NuScale Power Corp. (SMR) moved down 10.59%
• Paychex, Inc. (PAYX) sank 9.40%
• Equinix, Inc. (EQIX) fell 9.07%
• Lemonade, Inc. (LMND) was down 8.52%
• Oklo, Inc. (OKLO) moved lower 8.47%
• Empire State Realty Trust, Inc. (ESRT) sank 7.57%
• Archer Aviation, Inc. (ACHR) dragged 7.46%
• FTAI Aviation Ltd. (FTAI) moved down 7.44%
• QXO, Inc. (QXO) slumped 7.23%

Notables

• Nvidia (NVDA) shares rose over 4% to end Wednesday’s trading session above $154, notching a new record high. Loop Capital analyst Ananda Baruah on Wednesday raised his price target on Nvidia stock to $250.
• Coinbase (COIN) hit a new 52-week high and is being called the “Amazon of Crypto.” “Coinbase is the most misunderstood company in our Crypto coverage universe,” Bernstein analyst Gautam Chhugani and his team wrote on Wednesday morning, raising their price target on the stock to $510 from $310 with an Outperform rating.
• Micron (MU) jumped on an upbeat forecast as AI fueled demand for the company’s memory chips.
• Campbell Soup Company (CPB) shares dropped more than 2% on Wednesday, putting the stock on pace to close at its lowest level since June 2012.
• BP (BP)stock soared as much as 8% on Wednesday after the Wall Street Journal reported the British oil giant is in early talks to be acquired by its European rival Shell (SHEL). Shell, however, denied the rumor.
• Tesla (TSLA) shares dropped by over 5% on Wednesday after the company reported its fifth consecutive monthly decline in sales across the European Union.
• Yum! Brands (YUM) rose 1.5% following an upgrade from Neutral to Overweight by JPMorgan Chase, which cited improving fundamentals.
• Uber (UBER) ticked slightly higher early Wednesday after gaining 7% on Tuesday. The move follows Bloomberg’s report that Uber and Alphabet’s Waymo plan to launch a self-driving ride-hailing service in Atlanta.
• QuantumScape (QS) surged 41% after the solid-state battery company announced a “major milestone” in scaling up production capabilities.
• Carnival (CCL) was flat in early trading, following a nearly 7% jump Tuesday after the cruise operator beat earnings estimates and raised its outlook, citing robust customer demand.
• General Mills (GIS) dropped nearly 2% despite beating EPS estimates and matching revenue expectations. Investors reacted negatively to the company’s cautious FY26 outlook and declining adjusted gross margins.

What to Watch Ahead

Nike (NKE) and Walgreens Boots Alliance (WBA) will be reporting earnings tomorrow. We’ll also see May durable orders.