Red Cat Holdings, Inc.

Investors in Red Cat Holdings Inc (Symbol: RCAT) saw new options become available today, for the November 14th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the RCAT options chain for the new November 14th contracts and identified the following put contract of particular interest.
The put contract at the $9.00 strike price has a current bid of 50 cents. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $9.00, but will also collect the premium, putting the cost basis of the shares at $8.50 (before broker commissions). To an investor already interested in purchasing shares of RCAT, that could represent an attractive alternative to paying $11.02/share today.
Because the $9.00 strike represents an approximate 18% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 74%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 5.56% return on the cash commitment, or 47.11% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for Red Cat Holdings Inc, and highlighting in green where the $9.00 strike is located relative to that history:
The implied volatility in the put contract example above is 183%.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 250 trading day closing values as well as today's price of $11.02) to be 128%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Also see:
Institutional Holders of VTEX
Funds Holding GVH
Institutional Holders of OFOS
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

November 14th Options Now Available For Red Cat Holdings (RCAT)

The S&P 500 Index ($SPX) (SPY) on Thursday closed up +0.48%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.27%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.95%. September E-mini S&P futures (ESU25) rose +0.50%, and September E-mini Nasdaq futures (NQU25) rose +0.92%.
Stock indexes rallied on Thursday, with the S&P 500, Nasdaq 100, and Dow Jones Industrials posting new record highs. The prospects for additional Fed easing sparked a risk-on sentiment in asset markets and boosted stocks on Thursday. Strength in semiconductor stocks led technology stocks and the overall market higher, after Intel surged more than +22% after Nvidia agreed to invest $5 billion in the company and said the two will codevelop chips for PCs and data centers.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Stocks are also rallying on speculation that the Fed will tilt toward supporting the labor market, despite inflation risks. Bond yields rose on Wednesday, and stocks turned mixed despite the Fed cutting interest rates by 25 bp and signaling another 50 bp of rate cuts by year’s end due to hawkish comments from Fed Chair Powell, who highlighted the risk of persistent inflation and signaled less support for deeper easing of Fed policy.
Thursday’s US economic news was mostly better than expected, which pushed bond yields higher and was a negative factor for stocks. The 10-year T-note yield rose to a 2-week high on Thursday at 4.14%.
Weekly initial unemployment claims fell by -33,000 to 231,000, showing a stronger labor market than expectations of 240,000.
The Sep Philadelphia Fed business outlook survey rose by +23.5 to an 8-month high of 23.2, stronger than expectations of 1.7.
Aug leading indicators fell -0.5% m/m, weaker than expectations of -0.2% m/m and the biggest decline in four months.
The markets are pricing in a 94% chance of a -25 bp rate cut at the next FOMC meeting on Oct 28-29.
Overseas stock markets on Thursday settled mixed. The Euro Stoxx 50 climbed to a 3.5-week high and closed up sharply by +1.62%. China’s Shanghai Composite fell from a 10-year high and closed down -1.15%. Japan’s Nikkei Stock 225 rallied to a new record high and closed up +1.15%.
Interest Rates
December 10-year T-notes (ZNZ5) on Thursday closed down by -4.5 ticks. The 10-year T-note yield rose by +1.4 bp to 4.101%. Dec T-notes gave up overnight gains Thursday and dropped to a 2-week low, and the 10-year T-note yield rose to a 2-week high of 4.135%.
T-notes retreated Thursday after weekly initial jobless claims fell more than expected and the Sep Philadelphia Fed business outlook survey rose more than expected to an 8-month high, hawkish factors for Fed policy. Also, rising inflation expectations are bearish for T-notes after the 10-year breakeven inflation rate rose to a 2-week high on Thursday of 2.408%.
T-notes initially moved higher Thursday on the prospects of additional Fed easing. After cutting the federal funds target rate by 25 bp on Wednesday, the Fed signaled another 50 bp of rate cuts by year’s end.
Concerns about Fed independence are negatively impacting T-note prices due to President Trump’s attempt to fire Fed Governor Cook and Stephen Miran’s intention to hold a Fed Governor position while remaining technically in his White House role on the Council of Economic Advisors.
European government bond yields on Thursday moved higher. The 10-year German bund yield rose to a 2-week high of 2.726% and finished up +5.1 bp on its high. The 10-year UK gilt yield rose to a 1.5-week high of 4.676% and ended up +5.1 bp on its high.
As expected, the BOE, in a 7-2 vote, kept its official bank rate unchanged at 4.00% and BOE Governor Bailey said that rate cuts need to be made “gradually and carefully.”
Swaps are discounting a 2% chance for a -25 bp rate cut by the ECB at its next policy meeting on October 30.
US Stock Movers
Intel (INTC) closed up more than +22% to lead chip stocks higher and gainers in the S&P 500 and Nasdaq 100 after Nvidia agreed to invest $5 billion in the company and said the two will codevelop chips for PCs and data centers. Also, KLA Corp (KLAC), ASML Holding NV (ASML), and Applied Materials (AMAT) closed up more than +6%, and Micron Technology (MU) and Marvell Technology (MRVL) closed up more than +5%. In addition, ON Semiconductor (ON) and Lam Research (LRCX) closed up more than +4%, and Nvidia (NVDA) closed up more than +3%. Finally, GlobalFoundries (GFS) and NXP Semiconductors NV (NXPI) closed up more than +2%.
CrowdStrike Home (CRWD) closed up more than +12% in the wake of an investor briefing where the company discussed its AI strategy and gave a preliminary fiscal 2027 outlook that several analysts see as strong.
89bio (ETNB) closed up more than +85% after Roche said it will acquire the company for $3.5 billion or $14.50 per share.
AeroVironment (AVAV) closed up more than +4% after Bank of America Global Research initiated coverage of the stock with a recommendation of buy and a price target of $300.
Allstate (ALL) closed up more than +4% after reporting Aug catastrophe losses of $168 million, down -8.7% m/m.
Cooper Cos (COO) closed up more than +4% after its board approved a $1 billion increase in its stock buyback program to $2 billion.
CSX Corp (CSX) closed up more than +2% after RBC Capital Markets upgraded the stock to outperform from sector perform with a price target of $39.
FactSet Research Systems (FDS) closed down more than -10% to lead losers in the S&P 500 after reporting Q4 adjusted EPS of $4.05, below the consensus of $4.15, and forecasting 2026 adjusted EPS of $16.90-$17.60, weaker than the consensus of $18.30.
Red Cat (RCAT) closed down more than -10% after announcing it intends to sell shares of its common stock in an underwritten public offering. o lead gainers in the Nasdaq 100 after Guggenheim Securities upgraded the stock to buy from neutral with a price target of $285.
Darden Restaurants (DRI) closed down more than -7% after forecasting 2026 adjusted EPS from continuing operations of $10.50 to $10.70, the midpoint below the consensus of $10.67.
Cracker Barrel Old Country Store (CBRL) closed down more than -7% after forecasting 2025 revenue of $3.35 billion-$3.45 billion, weaker than the consensus of $3.52 billion.
Nucor (NUE) closed down more than -5% after forecasting Q3 EPS of $2.05 to $2.15, well below the consensus of $2.59.
ARM Holdings (ARM) closed down more than -4% on news that Nvidia will invest $5 billion in Intel and the two will co-design chips for PCs and data centers.
Live Nation Entertainment (LYV) closed down more than -2% after the US Federal Trade Commission and seven states sued the company and its Ticketmaster subsidiary for failing to stem the use of automated ticketing bots and large resale operations.
Earnings Reports(9/19/2025)
C&F Financial Corp (CFFI), Louisiana-Pacific Corp (LPX), Pathward Financial Inc (CASH).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stock Indexes Rally to Record Highs on Fed Rate Cut Expectations

The S&P 500 Index ($SPX) (SPY) today is up +0.67%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.46%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +1.19%. September E-mini S&P futures (ESU25) are up +0.63%, and September E-mini Nasdaq futures (NQU25) are up +1.19%.
The prospects for additional Fed easing are lifting stocks today, with the S&P 500, Nasdaq 100, and Dow Jones Industrials posting new record highs. Strength in semiconductor stocks today is a bullish factor for the overall market, led by a +25% surge in Intel after Nvidia agreed to invest $5 billion in the company and said the two will codevelop chips for PCs and data centers.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Stocks are also rallying on speculation that the Fed will tilt toward supporting the labor market, despite inflation risks. Bond yields rose on Wednesday, and stocks turned mixed despite the Fed cutting interest rates by 25 bp and signaling another 50 bp of rate cuts by year’s end due to hawkish comments from Fed Chair Powell, who highlighted the risk of persistent inflation and signaled less support for deeper easing of Fed policy.
Today’s US economic news was mostly better than expected, which pushed bond yields higher and is a negative factor for stocks. The 10-year T-note yield rose to a 2-week high today at 4.14%.
Weekly initial unemployment claims fell by -33,000 to 231,000, showing a stronger labor market than expectations of 240,000.
The Sep Philadelphia Fed business outlook survey rose by +23.5 to an 8-month high of 23.2, stronger than expectations of 1.7.
Aug leading indicators fell -0.5% m/m, weaker than expectations of -0.2% m/m and the biggest decline in four months.
The markets are pricing in an 86% chance of a -25 bp rate cut at the next FOMC meeting on Oct 28-29.
Overseas stock markets today are mixed. The Euro Stoxx 50 climbed to a 3.5-week high and is up sharply by +1.66%. China’s Shanghai Composite fell from a 10-year high and closed down -1.15%. Japan’s Nikkei Stock 225 rallied to a new record high and closed up +1.15%.
Interest Rates
December 10-year T-notes (ZNZ5) today are down by -9 ticks. The 10-year T-note yield is up by +3.7 bp to 4.124%. Dec T-notes gave up overnight gains today and dropped to a 2-week low, and the 10-year T-note yield rose to a 2-week high of 4.135%.
T-notes retreated today after weekly initial jobless claims fell more than expected and the Sep Philadelphia Fed business outlook survey rose more than expected to an 8-month high, hawkish factors for Fed policy. Also, rising inflation expectations are bearish for T-notes after the 10-year breakeven inflation rate today rose to a 2-week high of 2.408%.
T-notes initially moved higher today on the prospects of additional Fed easing. After cutting the federal funds target rate by 25 bp on Wednesday, the Fed signaled another 50 bp of rate cuts by year’s end.
Concerns about Fed independence are negatively impacting T-note prices due to President Trump’s attempt to fire Fed Governor Cook and Stephen Miran’s intention to hold a Fed Governor position while remaining technically in his White House role on the Council of Economic Advisors.
European government bond yields today are moving higher. The 10-year German bund yield rose to a 2-week high of 2.726% and is up +4.3 bp to 2.718%. The 10-year UK gilt yield is up +4.6 bp to 4.671%.
As expected, the BOE, in a 7-2 vote, kept its official bank rate unchanged at 4.00% and BOE Governor Bailey said that rate cuts need to be made “gradually and carefully.”
Swaps are discounting a 2% chance for a -25 bp rate cut by the ECB at its next policy meeting on October 30.
US Stock Movers
Intel (INTC) is up more than +25% to lead chip stocks higher and gainers in the S&P 500 and Nasdaq 100 after Nvidia agreed to invest $5 billion in the company and said the two will codevelop chips for PCs and data centers. Also, KLA Corp (KLAC) is up more than +7%, and ASML Holding NV (ASML) and Applied Materials (AMAT) are up more than +6%. In addition, Micron Technology (MU) is up more than +5%, and Marvell Technology (MRVL), ON Semiconductor (ON), and Lam Research (LRCX) are up more than +4%. Finally, GlobalFoundries (GFS) is up more than +3%, and Nvidia (NVDA) is up more than +2% to lead gainers in the Dow Jones Industrials.
CrowdStrike Home (CRWD) is up more than +10% in the wake of an investor briefing where the company discussed its AI strategy and gave a preliminary fiscal 2027 outlook that several analysts see as strong.
89bio (ETNB) is up more than +86% after Roche said it will acquire the company for $3.5 billion or $14.50 per share.
IonQ (IONQ) is up more than +4% after signing a Memorandum of Understanding (MOU) with the US Department of Energy to advance the development and deployment of quantum technologies in space.
AeroVironment (AVAV) is up more than +4% after Bank of America Global Research initiated coverage of the stock with a recommendation of buy and a price target of $300.
Allstate (ALL) is up more than +4% after reporting Aug catastrophe losses of $168 million, down -8.7% m/m.
CSX Corp (CSX) is up more than +2% after RBC Capital Markets upgraded the stock to outperform from sector perform with a price target of $39.
Darden Restaurants (DRI) is down more than -9% to lead losers in the S&P 500 after forecasting 2026 adjusted EPS from continuing operations of $10.50 to $10.70, the midpoint below the consensus of $10.67.
Red Cat (RCAT) is down more than -8% after announcing it intends to sell shares of its common stock in an underwritten public offering. o lead gainers in the Nasdaq 100 after Guggenheim Securities upgraded the stock to buy from neutral with a price target of $285.
ARM Holdings (ARM) is down more than -4% to lead losers in the Nasdaq 100, and Advanced Micro Devices (AMD) is down more than -3% on news that Nvidia will invest $5 billion in Intel and the two will co-design chips for PCs and data centers.
Nucor (NUE) is down more than -4% after forecasting Q3 EPS of $2.05 to $2.15, well below the consensus of $2.59.
FactSet Research Systems (FDS) is down more than -3% after reporting Q4 adjusted EPS of $4.05, below the consensus of $4.15, and forecasting 2026 adjusted EPS of $16.90-$17.60, weaker than the consensus of $18.30.
Cracker Barrel Old Country Store (CBRL) is down more than -2% after forecasting 2025 revenue of $3.35 billion-$3.45 billion, weaker than the consensus of $3.52 billion.
Earnings Reports(9/18/2025)
Darden Restaurants Inc (DRI), Ennis Inc (EBF), FactSet Research Systems Inc (FDS), FedEx Corp (FDX), Golden Matrix Group Inc (GMGI), Lennar Corp (LEN), Scholastic Corp (SCHL).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Record Highs for Major Stock Indexes as Chip Makers Soar

The S&P 500 Index ($SPX) (SPY) today is up +0.35%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.03%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.70%. September E-mini S&P futures (ESU25) are up +0.23%, and September E-mini Nasdaq futures (NQU25) are up +0.58%.
Stock indexes are moving higher today, with the S&P 500 and Nasdaq 100 posting new record highs. The prospects for additional Fed easing are lifting stocks today on speculation the Fed will tilt toward supporting the labor market, despite inflation risks. Bond yields rose on Wednesday, and stocks turned mixed despite the Fed cutting interest rates by 25 bp and signaling another 50 bp of rate cuts by year’s end due to hawkish comments from Fed Chair Powell, who highlighted the risk of persistent inflation and signaled less support for deeper easing of Fed policy.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Strength in semiconductor stocks today is another bullish factor for the overall market, led by a +20% surge in Intel after Nvidia agreed to invest $5 billion in the company and said the two will codevelop chips for PCs and data centers.
Stock indexes fell back from their best levels today as better-than-expected US economic news pushed bond yields higher. Weekly initial unemployment claims fell by -33,000 to 231,000, showing a stronger labor market than expectations of 240,000. Also, the Sep Philadelphia Fed business outlook survey rose +23.5 to an 8-month high of 23.2, stronger than expectations of 1.7. The 10-year T-note yield rose to a 2-week high today at 4.12%.
The markets are pricing in an 86% chance of a -25 bp rate cut at the next FOMC meeting on Oct 28-29.
Overseas stock markets today are mixed. The Euro Stoxx 50 climbed to a 3.5-week high and is up sharply by +1.32%. China’s Shanghai Composite fell from a 10-year high and closed down -1.15%. Japan’s Nikkei Stock 225 rallied to a new record high and closed up +1.15%.
Interest Rates
December 10-year T-notes (ZNZ5) today are down by -8 ticks. The 10-year T-note yield is up by +2.7 bp to 4.114%. Dec T-notes gave up overnight gains and dropped to a 2-week low, and the 10-year T-note yield rose to a 2-week high of 4.118%.
T-notes retreated today after weekly initial jobless claims fell more than expected and the Sep Philadelphia Fed business outlook survey rose more than expected to an 8-month high, hawkish factors for Fed policy. Also, rising inflation expectations are bearish for T-notes after the 10-year breakeven inflation rate today rose to a 2-week high of 2.408%.
T-notes today initially moved higher on the prospects of additional Fed easing. After cutting the federal funds target rate by 25 bp on Wednesday, the Fed signaled another 50 bp of rate cuts by year’s end.
Concerns about Fed independence are negatively impacting T-note prices due to President Trump’s attempt to fire Fed Governor Cook and Stephen Miran’s intention to hold a Fed Governor position while remaining technically in his White House role on the Council of Economic Advisors.
European government bond yields today are moving higher. The 10-year German bund yield rose to a 2-week high of 2.719% and is up +3.4 bp to 2.709%. The 10-year UK gilt yield is up +2.9 bp to 4.654%.
As expected, the BOE, in a 7-2 vote, kept its official bank rate unchanged at 4.00% and BOE Governor Bailey said that rate cuts need to be made “gradually and carefully.”
Swaps are discounting a 2% chance for a -25 bp rate cut by the ECB at its next policy meeting on October 30.
US Stock Movers
Intel (INTC) is up more than +23% to lead chip stocks higher and gainers in the S&P 500 and Nasdaq 100 after Nvidia agreed to invest $5 billion in the company and said the two will codevelop chips for PCs and data centers. Also, ASML Holding NV (ASML) is up more than +5% and Marvell Technology (MRVL) and KLA Corp (KLAC) are up more than +4%. In addition, Applied Materials (AMAT), Micron Technology (MU), and Lam Research (LRCX) are up more than +3%, and Nvidia (NVDA) is up more than +2% to lead gainers in the Dow Jones Industrials. Finally, GlobalFoundries (GFS), ON Semiconductor (ON), Microchip Technology (MCHP), Analog Devices (ADI), and NXP Semiconductors NV (NXPI) are up more than +1%.
CrowdStrike Home (CRWD) is up more than +9% in the wake of an investor briefing where the company discussed its AI strategy and gave a preliminary fiscal 2027 outlook that several analysts see as strong.
IonQ (IONQ) is up more than +5% after signing a Memorandum of Understanding (MOU) with the US Department of Energy to advance the development and deployment of quantum technologies in space.
89bio (ETNB) is up more than +86% after Roche said it will acquire the company for $3.5 billion pr $14.50 per share.
AeroVironment (AVAV) is up more than +3% after Bank of America Global Research initiated coverage of the stock with a recommendation of buy and a price target of $300.
Allstate (ALL) is up more than +2% after reporting Aug catastrophe losses of $168 million, down -8.7% m/m.
CSX Corp (CSX) is up more than +1% after RBC Capital Markets upgraded the stock to outperform from sector perform with a price target of $39.
Red Cat (RCAT) is down more than -11% after announcing it intends to sell shares of its common stock in an underwritten public offering. o lead gainers in the Nasdaq 100 after Guggenheim Securities upgraded the stock to buy from neutral with a price target of $285.
Darden Restaurants (DRI) is down more than -9% to lead losers in the S&P 500 after forecasting 2026 adjusted EPS from continuing operations of $10.50 to $10.70, the midpoint below the consensus of $10.67.
ARM Holdings (ARM) is down more than -5% to lead losers in the Nasdaq 100, and Advanced Micro Devices (AMD) is down more than -3% on news that Nvidia will invest $5 billion in Intel and the two will co-design chips for PCs and data centers.
Cracker Barrel Old Country Store (CBRL) is down more than -4% after forecasting 2025 revenue of $3.35 billion-$3.45 billion, weaker than the consensus of $3.52 billion.
Nucor (NUE) is down more than -4% after forecasting Q3 EPS of $2.05 to $2.15, well below the consensus of $2.59.
FactSet Research Systems (FDS) is down more than -3% after reporting Q4 adjusted EPS of $4.05, below the consensus of $4.15, and forecasting 2026 adjusted EPS of $16.90-$17.60, weaker than the consensus of $18.30.
Earnings Reports(9/18/2025)
Darden Restaurants Inc (DRI), Ennis Inc (EBF), FactSet Research Systems Inc (FDS), FedEx Corp (FDX), Golden Matrix Group Inc (GMGI), Lennar Corp (LEN), Scholastic Corp (SCHL).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Climb on Hopes of Additional Fed Easing

The S&P 500 Index ($SPX) (SPY) on Thursday closed up +0.85%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +1.36%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.60%. September E-mini S&P futures (ESU25) rose +0.81%, and September E-mini Nasdaq futures (NQU25) rose +0.60%.
Stock indexes settled higher on Thursday, with the S&P 500, the Dow Jones Industrials, and the Nasdaq 100 all posting new record highs. Stocks rallied after Thursday’s as-expected Aug CPI report and an unexpected surge in weekly jobless claims to a 3.75-year high knocked bond yields lower and cemented expectations for Fed rate cuts. The 10-year T-note yield fell to a 5-month low of 3.99%.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
US weekly initial unemployment claims unexpectedly rose by +27,000 to a 3.75-year high of 263,000, showing a weaker labor market than expectations of a decline to 235,000.
US Aug CPI increased to +2.9% y/y from +2.7% y/y in July, right on expectations. Aug CPI ex-food and energy rose +3.1% y/y, unchanged from July and right on expectations.
Market focus this week will be on any trade or tariff news. On Friday, the University of Michigan’s Sep US consumer sentiment index is expected to slip -0.2 to 58.0.
The markets are now pricing in a 100% chance of a -25 bp rate cut and a 9% chance of a -50 bp rate cut at the upcoming FOMC meeting on Sep 16-17. After the fully expected -25 bp rate cut at the Sep 16-17 meeting, the markets are discounting a 97% chance of a second -25 bp rate cut at the Oct 28-29 meeting. The markets are now pricing in an overall -72 bp rate cut in the federal funds rate by year-end to 3.61% from the current 4.33% rate.
Overseas stock markets on Thursday settled higher. The Euro Stoxx 50 closed up +0.47%. China’s Shanghai Composite rose to a 1-week high and closed up +1.65%. Japan’s Nikkei Stock 225 rallied to a new all-time high and closed up +1.22%.
Interest Rates
December 10-year T-notes (ZNZ5) on Thursday closed up by +2.5 ticks. The 10-year T-note yield fell by -4.3 bp to 4.002%. T-notes climbed to a 5-month high on Thursday, and the 10-year T-note yield dropped to a 5-month low of 3.992%. T-note prices whipsawed higher Thursday after US Aug CPI came in right on expectations, but weekly initial unemployment claims unexpectedly soared to a 3.75-year high, a dovish factor for Fed policy and cementing expectations for at least a 25 bp rate cut at next week’s FOMC meeting. The markets are now pricing in an overall -71 bp rate cut in the federal funds rate by year-end to 3.61% from the current 4.33% rate.
T-notes fell back from their best levels Thursday after the S&P 500 rallied to a new record high, which curbed safe-haven demand for T-notes. Also, weak demand for the Treasury’s $22 billion auction of 30-year T-bonds weighed on T-note prices as the auction had a bid-to-cover ratio of 2.38, below the 10-auction average of 2.41.
Concerns about Fed independence are negatively impacting T-note prices due to President Trump’s attempt to fire Fed Governor Cook and Stephen Miran’s intention to hold a Fed Governor position while remaining technically in his White House role on the Council of Economic Advisors.
European government bond yields on Thursday were mixed. The 10-year German bund yield rose +0.5 bp to 2.657%. The 10-year UK gilt yield fell to a 4-week low of 4.596% and finished down -2.6 bp to 4.606%.
As expected, the ECB kept its deposit facility rate unchanged at 2.00% and said, “Inflation is currently around the 2% medium-term target and the Governing Council’s assessment of the inflation outlook is broadly unchanged.”
The ECB raised its 2025 Eurozone GDP estimate to +1.2% from a June forecast of +0.9% and maintained its 2025 Eurozone inflation ex-food and energy estimate at 2.4%.
ECB President Lagarde said the ECB now sees growth risks in the Eurozone as more balanced and the disinflationary process is over, signaling the ECB is done cutting interest rates.
Swaps are discounting a 4% chance for a -25 bp rate cut by the ECB at the October 30 policy meeting.
US Stock Movers
Micron Technology (MU) rose more than +7% to lead semiconductor stocks higher after Citigroup raised its price target on the stock to $175 from $150. Also, Lam Research (LRCX) closed up more than +7% and Applied Materials (AMAT) closed up more than +4%. In addition, KLA Corp (KLAC) and ON Semiconductor (ON) closed up more than +2%, and ASML Holding NV (ASML), ARM Holdings Plc (ARM), NXP Semiconductor (NXPI), GlobalFoundries (GFS), and Qualcomm (QCOM) closed up more than +1%.
Home builders and home building suppliers are climbing today after the 10-year T-note yield fell to a 5-month low, which will lower mortgage rates and is supportive of housing demand. Builders FirstSource (BLDR) closed up more than +4%. Also, PulteGroup (PHM), Lennar (LEN), DR Horton (DHI), and Toll Brothers (TOL) closed up more than +2%.
Warner Bros Discovery (WBD) closed up more than +28% to lead gainers in the S&P 500 and Nasdaq 100 on reports that Paramount Skydance is preparing a bid to acquire the company.
Red Cat Holdings (RCAT) closed up more than +30% after the drone company said its Black Widow system had been approved and added to the NATO Support and Procurement Agency catalog.
Oxford Industries (OXM) closed up more than +26% after reporting Q2 adjusted EPS of $1.26, stronger than the consensus of $1.18.
Revolution Medicines (RVMD) closed up more than +13% after reporting “highly encouraging initial clinical results” in a Phase 1 trial of daraxonrasib in treating pancreatic cancer.
Centene (CNC) closed up more than +9% after forecasting full-year adjusted EPS of $1.75, better than the consensus of $1.64.
Thermo Fisher Scientific (TMO) closed up more than +3% after Barclays upgraded the stock to overweight from equal weight with a price target of $550.
Celsius Holdings (CELH) closed up more than +2% after Goldman Sachs initiated coverage of the stock with a buy recommendation and a price target of $72.
Oracle (ORCL) closed down more than -6% to lead losers in the S&P 500 on reports that the Ellison family backs the offer by Paramount Skydance to purchase Warner Bros Discovery. Larry Ellison is chairman and co-founder of Oracle.
Avidity Biosciences (RNA) closed down more than -11% after announcing it intends to offer $500 million in shares of its common stock in an underwritten public offering.
Boeing (BA) closed down more than -3% to lead losers in the Dow Jones Industrials after CEO Ortberg said the company is falling behind schedule to get its 777X aircraft certified with regulators next year, risking another delay in the program that’s already well behind its original timeline.
Netflix (NFLX) closed down more than -3% to lead losers in the Nasdaq 100 after Chief Product Officer Kim announced she is leaving the company.
Advanced Micro Devices (AMD) closed down more than -2% after Erste Group downgraded the stock to hold from buy.
Earnings Reports(9/12/2025)
Compass Diversified Holdings (CODI), EVI Industries Inc (EVI), Immersion Corp (IMMR), Kestra Medical Technologies Ltd (KMTS), Mercurity Fintech Holding Inc (MFH), Triller Group Inc (ILLR), Value Line Inc (VALU).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Climb to Record Highs on the Outlook for Fed Rate Cuts

The S&P 500 Index ($SPX) (SPY) today is up +0.66%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +1.21%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.47%. September E-mini S&P futures (ESU25) are up +0.64%, and September E-mini Nasdaq futures (NQU25) are up +0.50%.
Stock indexes are rallying today, with the S&P 500, the Dow Jones Industrials, and the Nasdaq 100 all posting new all-time highs. Stocks are supported after today’s as-expected Aug CPI report, and an unexpected surge in weekly jobless claims to a 3.75-year high knocked bond yields lower and cemented expectations for Fed rate cuts. The 10-year T-note yield fell to a 5-month low of 3.99%.
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US weekly initial unemployment claims unexpectedly rose by +27,000 to a 3.75-year high of 263,000, showing a weaker labor market than expectations of a decline to 235,000.
US Aug CPI increased to +2.9% y/y from +2.7% y/y in July, right on expectations. Aug CPI ex-food and energy rose +3.1% y/y, unchanged from July and right on expectations.
Market focus this week will be on any trade or tariff news. On Friday, the University of Michigan’s Sep US consumer sentiment index is expected to slip -0.2 to 58.0.
The markets are now pricing in a 100% chance of a -25 bp rate cut and a 12% chance of a -50 bp rate cut at the upcoming FOMC meeting on Sep 16-17. After the fully expected -25 bp rate cut at the Sep 16-17 meeting, the markets are discounting a 100% chance of a second -25 bp rate cut at the Oct 28-29 meeting. The markets are now pricing in an overall -73 bp rate cut in the federal funds rate by year-end to 3.60% from the current 4.33% rate.
Overseas stock markets today are higher. The Euro Stoxx 50 is up +0.47%. China’s Shanghai Composite rose to a 1-week high and closed up +1.65%. Japan’s Nikkei Stock 225 rallied to a new all-time high and closed up +1.22%.
Interest Rates
December 10-year T-notes (ZNZ5) today are up by +6 ticks. The 10-year T-note yield is down by -3.1 bp to 4.015%. T-notes today climbed to a 5-month high, and the 10-year T-note yield dropped to a 5-month low of 3.992%. T-note prices whipsawed higher today after US Aug CPI came in right on expectations, but weekly initial unemployment claims unexpectedly soared to a 3.75-year high, a dovish factor for Fed policy and cementing expectations for at least a 25 bp rate cut at next week’s FOMC meeting. The markets are now pricing in an overall -73 bp rate cut in the federal funds rate by year-end to 3.60% from the current 4.33% rate.
Today’s rally in the S&P 500 to a new record high is limiting gains in T-notes. Also, supply pressures are negative for T-notes as the Treasury will auction $22 billion of 30-year T-bonds later today to conclude this week’s auction of $119 billion of T-notes and T-bonds.
Concerns about Fed independence are negatively impacting T-note prices due to President Trump’s attempt to fire Fed Governor Cook and Stephen Miran’s intention to hold a Fed Governor position while remaining technically in his White House role on the Council of Economic Advisors.
European government bond yields today are mixed. The 10-year German bund yield is up +1.0 bp to 2.662%. The 10-year UK gilt yield fell to a 4-week low of 4.596% and is down -1.6 bp to 4.616%.
As expected, the ECB kept its deposit facility rate unchanged at 2.00% and said, “Inflation is currently around the 2% medium-term target and the Governing Council’s assessment of the inflation outlook is broadly unchanged.”
The ECB raised its 2025 Eurozone GDP estimate to +1.2% from a June forecast of +0.9% and maintained its 2025 Eurozone inflation ex-food and energy estimate at 2.4%.
ECB President Lagarde said the ECB now sees growth risks in the Eurozone as more balanced and the disinflationary process is over, signaling the ECB is done cutting interest rates.
Swaps are discounting a 3% chance for a -25 bp rate cut by the ECB at the October 30 policy meeting.
US Stock Movers
Micron Technology (MU) is up more than +9% to lead semiconductor stocks higher after Citigroup raised its price target on the stock to $175 from $150. Also, Lam Research (LRCX) is up more than +6% and Applied Materials (AMAT) is up more than +3%. In addition, KLA Corp (KLAC) is up more than +2%, and ASML Holding NV (ASML) and ARM Holdings Plc (ARM) are up more than +1%.
Home builders and home building suppliers are climbing today after the 10-year T-note yield fell to a 5-month low, which will lower mortgage rates and is supportive of housing demand. Builders FirstSource (BLDR) is up more than +5%. Also, PulteGroup (PHM), Lennar (LEN), DR Horton (DHI), and Toll Brothers (TOL) are up more than +2%.
Centene (CNC) is up more than +12% to lead gainers in the S&P 500 after forecasting full-year adjusted EPS of $1.75, better than the consensus of $1.64.
Red Cat Holdings (RCAT) is up more than +25% after the drone company said its Black Widow system had been approved and added to the NATO Support and Procurement Agency catalog.
Oxford Industries (OXM) is up more than +24% after reporting Q2 adjusted EPS of $1.26, stronger than the consensus of $1.18.
Revolution Medicines (RVMD) is up more than +14% after reporting “highly encouraging initial clinical results” in a Phase 1 trial of daraxonrasib in treating pancreatic cancer.
Celsius Holdings (CELH) is up more than +2% after Goldman Sachs initiated coverage of the stock with a buy recommendation and a price target of $72.
Thermo Fisher Scientific (TMO) is up more than +2% after Barclays upgraded the stock to overweight from equal weight with a price target of $550.
Atlassian Corp (TEAM) is up more than +1% after Guggenheim Securities initiated coverage on the stock with a buy recommendation and a price target of $225.
Energy producers and energy service providers are under pressure today with the price of WTI crude oil down nearly -2%. As a result, APA Corp (APA), Occidental Petroleum (OXY), Devon Energy (DVN), and Diamondback Energy (FANG) are down more than -1%. Also, ConocoPhillips (COP) is down -0.92%.
Avidity Biosciences (RNA) is down more than -19% after announcing it intends to offer $500 million in shares of its common stock in an underwritten public offering.
Advanced Micro Devices (AMD) is down more than -2% to lead losers in the Nasdaq 100 after Erste Group downgraded the stock to hold from buy.
Netflix (NFLX) is down more than -2% after Chief Product Officer Kim announced she is leaving the company.
Earnings Reports(9/11/2025)
Adobe Inc (ADBE), Frequency Electronics Inc (FEIM), IBEX Holdings Ltd (IBEX), KalVista Pharmaceuticals Inc (KALV), Kestra Medical Technologies Ltd (KMTS), Kroger Co/The (KR), Lovesac Co/The (LOVE), RH (RH).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Rally and Bond Yields Fall on Fed Rate Cut Hopes

The S&P 500 Index ($SPX) (SPY) today is up +0.22%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.44%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.17%. September E-mini S&P futures (ESU25) are up +0.30%, and September E-mini Nasdaq futures (NQU25) are up +0.20%.
Stock indexes are moving higher today, with the S&P 500, the Dow Jones Industrials, and the Nasdaq 100 all posting new all-time highs. Stocks are supported after today's as-expected Aug CPI report and an unexpected surge in weekly jobless claims to a 3.75-year high knocked bond yields lower and cemented expectations for Fed rate cuts. The 10-year T-note yield fell to a 5-month low of 3.99%.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
US weekly initial unemployment claims unexpectedly rose by +27,000 to a 3.75-year high of 263,000, showing a weaker labor market than expectations of a decline to 235,000.
US Aug CPI increased to +2.9% y/y from +2.7% y/y in July, right on expectations. Aug CPI ex-food and energy rose +3.1% y/y, unchanged from July and right on expectations.
Market focus this week will be on any trade or tariff news. On Friday, the University of Michigan's Sep US consumer sentiment index is expected to slip -0.2 to 58.0.
The markets are now pricing in a 100% chance of a -25 bp rate cut and a 12% chance of a -50 bp rate cut at the upcoming FOMC meeting on Sep 16-17. After the fully expected -25 bp rate cut at the Sep 16-17 meeting, the markets are discounting a 100% chance of a second -25 bp rate cut at the Oct 28-29 meeting. The markets are now pricing in an overall -73 bp rate cut in the federal funds rate by year-end to 3.60% from the current 4.33% rate.
Overseas stock markets today are higher. The Euro Stoxx 50 is up +0.37%. China's Shanghai Composite rose to a 1-week high and closed up +1.65%. Japan's Nikkei Stock 225 rallied to a new all-time high and closed up +1.22%.
Interest Rates
December 10-year T-notes (ZNZ5) today are up by +4 ticks. The 10-year T-note yield is down by -1.9 bp to 4.026%. T-notes today climbed to a 5-month high, and the 10-year T-note yield dropped to a 5-month low of 3.994%. T-note prices whipsawed higher today after US Aug CPI came in right on expectations, but weekly initial unemployment claims unexpectedly soared to a 3.75-year high, a dovish factor for Fed policy and cementing expectations for at least a 25 bp rate cut at next week's FOMC meeting. The markets are now pricing in an overall -73 bp rate cut in the federal funds rate by year-end to 3.60% from the current 4.33% rate.
Supply pressures are negative for T-notes as the Treasury will auction $22 billion of 30-year T-bonds later today to conclude this week's auction of $119 billion of T-notes and T-bonds.
Concerns about Fed independence are negatively impacting T-note prices due to President Trump's attempt to fire Fed Governor Cook and Stephen Miran's intention to hold a Fed Governor position while remaining technically in his White House role on the Council of Economic Advisors.
European government bond yields today are mixed. The 10-year German bund yield is up +1.5 bp to 2.667%. The 10-year UK gilt yield is down -1.3 bp to 4.620%.
As expected, the ECB kept its deposit facility rate unchanged at 2.00% and said, "Inflation is currently around the 2% medium-term target and the Governing Council's assessment of the inflation outlook is broadly unchanged."
The ECB raised its 2025 Eurozone GDP estimate to +1.2% from a June forecast of +0.9% and maintained its 2025 Eurozone inflation ex-food and energy estimate at 2.4%.
ECB President Lagarde said the ECB now sees growth risks in the Eurozone as more balanced and the disinflationary process is over, signaling the ECB is done cutting interest rates.
Swaps are discounting a 4% chance for a -25 bp rate cut by the ECB at the October 30 policy meeting.
US Stock Movers
Micron Technology (MU) is up more than +9% to lead semiconductor stocks higher and gainers in the Nasdaq 100 after Citigroup raised its price target on the stock to $175 from $150. Also, Lam Research (LRCX) is up more than +4% and Applied Materials (AMAT) is up more than +3%. In addition, KLA Corp (KLAC) is up more than +2%, and NXP Semiconductors NV (NXPI) and ARM Holdings Plc (ARM) are up more than +1%.
Centene (CNC) is up more than +12% to lead gainers in the S&P 500 after forecasting full-year adjusted EPS of $1.75, better than the consensus of $1.64.
Red Cat Holdings (RCAT) is up more than +22% after the drone company said its Black Widow system had been approved and added to the NATO Support and Procurement Agency catalog.
Oxford Industries (OXM) is up more than +18% after reporting Q2 adjusted EPS of $1.26, stronger than the consensus of $1.18.
Revolution Medicines (RVMD) is up more than +11% after reporting "highly encouraging initial clinical results" in a Phase 1 trial of daraxonrasib in treating pancreatic cancer.
Celsius Holdings (CELH) is up more than +1% after Goldman Sachs initiated coverage of the stock with a buy recommendation and a price target of $72.
Atlassian Corp (TEAM) is up more than +1% after Guggenheim Securities initiated coverage on the stock with a buy recommendation and a price target of $225.
Thermo Fisher Scientific (TMO) is up more than +1% after Barclays upgraded the stock to overweight from equal weight with a price target of $550.
Energy producers and energy service providers are under pressure today with the price of WTI crude oil down nearly -2%. As a result, APA Corp (APA) and Devon Energy (DVN) are down more than -1%, and Diamondback Energy (FANG) is down -0.74%.
Avidity Biosciences (RNA) is down more than -19% after announcing it intends to offer $500 million in shares of its common stock in an underwritten public offering.
Advanced Micro Devices (AMD) is down more than -1% to lead losers in the Nasdaq 100 after Erste Group downgraded the stock to hold from buy.
Earnings Reports(9/11/2025)
Adobe Inc (ADBE), Frequency Electronics Inc (FEIM), IBEX Holdings Ltd (IBEX), KalVista Pharmaceuticals Inc (KALV), Kestra Medical Technologies Ltd (KMTS), Kroger Co/The (KR), Lovesac Co/The (LOVE), RH (RH).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Climb as US Labor Market Weakness Bolsters Fed Rate Cut Expectations

In trading on Monday, defense shares were relative leaders, up on the day by about 2.7%. Leading the group were shares of Optex Systems Holdings, up about 13.9% and shares of National Presto Industries, up about 1.9% on the day.
Also showing relative strength are electronic equipment & products shares, up on the day by about 2.1% as a group, led by TROOPS, trading up by about 246.2% and Red Cat Holdings, trading higher by about 10.2% on Monday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Monday Sector Leaders: Defense, Electronic Equipment & Products

The S&P 500 Index ($SPX) (SPY) on Friday closed down -0.27%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.66%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.17%. September E-mini S&P futures (ESU25) fell -0.33%, and September E-mini Nasdaq futures (NQU25) fell -0.21%.
Stock indexes on Friday retreated on the escalation of trade tensions as President Trump ramped up his threats to impose higher tariffs, sparking a risk-off environment in asset markets. Late Thursday, President Trump said a 35% tariff on some Canadian products would take effect on August 1, up from the current 25%. The new Canadian tariffs would not apply to goods traded within the rules of the US-Mexico-Canada Trade Agreement, and a lower 10% tariff would be kept on some energy-related imports. He also said he plans to impose blanket tariffs of 15% or 20% on most US trade partners.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Stocks were also undercut by Friday’s +7 bp rise in the 10-year T-note yield. T-note yields rose on concern that President Trump’s threats to impose higher tariffs on Canada and other US trading partners will lead to higher US inflation that could prevent the Fed from cutting interest rates.
The price of Bitcoin (^BTSUSD) on Friday rallied by more than +3% and posted a new record high. Bitcoin has rallied more than +9% this week after the US House Committee on Financial Services announced on Tuesday that the week of July 14 will be “Crypto Week.” The US House Committee on Ways and Means has planned an oversight subcommittee hearing on July 16 entitled, “Making America the Crypto Capital of the World,” which may lead to more crypto-friendly regulations.
Stocks have been undercut as President Trump vowed to push forward with his aggressive tariff regime, stressing he would not offer additional extensions on country-specific tariffs set to take effect on August 1. Earlier this week, Mr. Trump imposed a 50% tariff on copper imports that will include semi-finished goods, and said that drug companies could face tariffs as high as 200% on imports if they don’t relocate production to the US within the next year. In addition, despite stating that the US was close to a trade deal with India, Mr. Trump said he would still impose a 10% tariff on India’s goods for their participation in BRICS, a group of developing nations he claimed were “set up to hurt” the US.
Another hurdle for stocks is the upcoming earnings season, which begins in earnest next week. Bloomberg Intelligence data show that the consensus for Q2 earnings of S&P 500 companies is for a rise of +2.8% year-over-year, the smallest increase in two years. Also, only six of the eleven S&P 500 sectors are projected to post an increase in earnings, the fewest since Q1 of 2023, according to Yardeni Research.
Federal funds futures prices are discounting the chances at 7% for a -25 bp rate cut at the July 29-30 FOMC meeting.
Overseas stock markets Friday were mixed. The Euro Stoxx 50 fell -1.01%. China’s Shanghai Composite climbed to a 9-month high and closed up +0.01%. Japan’s Nikkei Stock 225 fell to a 1-week low and closed down -0.19%.
Interest Rates
September 10-year T-notes (ZNU25) on Friday fell by -15 ticks. The 10-year T-note yield rose by +7 bp to 4.419%. T-note prices fell on President Trump’s threats to impose higher tariffs on Canada and other US trading partners, which fueled concern about higher US inflation that could prevent the Fed from cutting interest rates. T-note prices were also undercut after the 10-year German bund yield rose to a 3.25-month high.
European government bond yields moved higher. The 10-year German bund yield rose to a 3.25-month high of 2.734% and ended the day up +2.0 bp at 2.725%. The 10-year UK gilt yield rose +2.6 bp to 4.622%.
UK May manufacturing production fell -1.0% m/m, weaker than expectations of -0.1% m/m and the biggest decline in 10 months.
ECB Executive Board member Isabel Schnabel said, “The bar for another ECB interest rate cut is very high, and there would only be a case for another rate cut if we saw signs of a material deviation of inflation from our target over the medium term. And at the moment, I see no signs of that.”
Swaps are discounting the chances at 1% for a -25 bp rate cut by the ECB at the July 24 policy meeting.
US Stock Movers
The Magnificent Seven stocks held up fairly well on Friday despite the losses in the main indexes, with only Apple (AAPL) and Meta Platforms (META) showing losses. Alphabet (GOOG), Amazon (AMZN), and Tesla (TSLA) all closed up by more than +1%.
Nvidia (NVDA) rose +0.5% after CEO Huang met President Trump at the White House, ahead of Huang’s trip to China.
Some cryptocurrency stocks rallied as the price of Bitcoin (^BTCUSD) rose more than +3% to a new record high. MicroStrategy (MSTR) rose more than +3% to lead gainers in the Nasdaq 100.
Drone-related companies climbed after US Defense Secretary Pete Hegseth issued orders to ramp up production and deployment of drones. Red Cat Holdings (RCAT) rallied more than +25%, Kratos Defense & Security Solutions (KTOS) rallied more than +11%, and AeroVironment (AVAV) rallied more than +10%.
Airline stocks on Friday moved lower, giving back some of Thursday’s sharp gains that were driven by positive guidance news from Delta. American Airlines Group (AAL) fell more than -5%, United Airlines Holdings (UAL) fell more than -4%, and Alaska Air Group (ALK) fell more than -3%. Delta Air Lines (DAL) fell -0.25% after Thursday’s surge of nearly +12%.
Capricor Therapeutics (CAPR) plunged -33% after the FDA declined to approve the company’s treatment candidate aimed at treating a disease of the heart muscle associated with Duchenne muscular dystrophy.
Civista Bancshares (CIVB) fell more than -13% after announcing the pricing of an underwritten public offering of 3.29 million shares of common stock at a price of $21.25 per share, below Thursday’s closing price of $24.82.
Oscar Health (OSCR) fell more than -7% after Wells Fargo Securities downgraded the stock to underweight from equal weight with a price target of $10.
Albemarle (ALB) fell more than -4% after UBS downgraded the stock to sell from neutral with a price target of $57.
Expeditors International of Washington (EXPD) fell nearly -3% after Bank of America Global Research downgraded the stock to underperform.
Northern Trust Corp (NTRS) fell -0.6% after Keefe, Bruyette & Woods downgraded the stock to underperform from market perform with a price target of $120.
Levy Strauss & Co (LEVI) rose more than +11% after reporting Q2 net revenue of $1.45 billion, stronger than the consensus of $1.37 billion, and raising guidance on its full-year net revenue forecast to up +1% to +2% from a previous forecast of down -1% to -2%.
Performance Food Group (PFGC) rose by more than +4% on reports that the company has attracted takeover interest from US Foods Holding Corp.
Visteon Corp (VC) rose by more than +2% after Goldman Sachs upgraded the stock to buy from neutral with a price target of $120.
Earnings Reports (7/14/2025)
Equity Bancshares Inc (EQBK), Fastenal Co (FAST), FB Financial Corp (FBK), Immersion Corp (IMMR), Kestra Medical Technologies Ltd (KMTS), Rezolve AI PLC (RZLV), Simulations Plus Inc (SLP).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Pressured by Escalation of Trade Tensions

The S&P 500 Index ($SPX) (SPY) today is down -0.35%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.61%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.15%. September E-mini S&P futures (ESU25) are down -0.37%, and September E-mini Nasdaq futures (NQU25) are down -0.16%.
Stock indexes are retreating today on the escalation of trade tensions as President Trump ramps up his threats to impose higher tariffs, sparking a risk-off environment in asset markets. Late Thursday, President Trump said a 35% tariff on some Canadian products would take effect on August 1, up from the current 25%. The new Canadian tariffs would not apply to goods traded within the rules of the US-Mexico-Canada Trade Agreement, and a lower 10% would be kept on some energy-related imports. He also said he plans to impose blanket tariffs of 15% or 20% on most US trade partners.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Higher bond yields are also weighing on stocks today, with the 10-year T-note yield up +5 bp to 4.40%. Bond yields are climbing today on concern that President Trump’s threats to impose higher tariffs on Canada and other US trading partners will lead to higher US inflation that could prevent the Fed from cutting interest rates.
The price of Bitcoin (^BTSUSD) is up more than +3% today at a new record high. Bitcoin has rallied more than +9% this week after the US House Committee on Financial Services announced on Tuesday that the week of July 14 will be “Crypto Week.” The US House Committee on Ways and Means has planned an oversight subcommittee hearing on July 16 entitled, “Making America the Crypto Capital of the World,” which may lead to more crypto-friendly regulations.
Stocks continue to see downward pressure as President Trump has vowed to push forward with his aggressive tariff regime, stressing he would not offer additional extensions on country-specific tariffs set to take effect on August 1. Earlier this week, Mr. Trump imposed a 50% tariff on copper imports that will include semi-finished goods, and said that drug companies could face tariffs as high as 200% on imports if they don’t relocate production to the US within the next year. In addition, despite stating that the US was close to a trade deal with India, Mr. Trump said he would still impose a 10% tariff on India’s goods for their participation in BRICS, a group of developing nations he claimed were “set up to hurt” the US.
Another hurdle for stocks is the upcoming earnings season, which begins in earnest next week. Bloomberg Intelligence data show that the consensus for Q2 earnings of S&P 500 companies is for a rise of +2.8% year-over-year, the smallest increase in two years. Also, only six of the eleven S&P 500 sectors are projected to post an increase in earnings, the fewest since Q1 of 2023, according to Yardeni Research.
Federal funds futures prices are discounting the chances at 7% for a -25 bp rate cut at the July 29-30 FOMC meeting.
Overseas stock markets today are mixed. The Euro Stoxx 50 is down -1.06%. China’s Shanghai Composite climbed to a 9-month high and closed up +0.01%. Japan’s Nikkei Stock 225 fell to a 1-week low and closed down -0.19%.
Interest Rates
September 10-year T-notes (ZNU25) today are down -13 ticks. The 10-year T-note yield is up +5.2 bp to 4.401%. T-note prices are sliding today as President Trump’s threats to impose higher tariffs on Canada and other US trading partners fueled concern about higher US inflation that could prevent the Fed from cutting interest rates. Also, negative carryover from today’s plunge in 10-year German bunds to a 3-1/4 month low is weighing on T-notes.
European government bond yields today are moving higher. The 10-year German bund yield rose to a 3-1/4 month high of 2.734% and is up +2.1 bp at 2.726%. The 10-year UK gilt yield is up +3.0 bp to 4.626%.
UK May manufacturing production fell -1.0% m/m, weaker than expectations of -0.1% m/m and the biggest decline in 10 months.
ECB Executive Board member Isabel Schnabel said, “The bar for another ECB interest rate cut is very high, and there would only be a case for another rate cut if we saw signs of a material deviation of inflation from our target over the medium term. And at the moment, I see no signs of that.”
Swaps are discounting the chances at 2% for a -25 bp rate cut by the ECB at the July 24 policy meeting.
US Stock Movers
Airline stocks are moving lower today, giving back some of Thursday’s sharp gains that were driven by positive guidance news from Delta. United Airlines Holdings (UAL) is down more than -4% to lead losers in the S&P 500. Also, American Airlines Group (AAL) is down more than -3%. In addition, Delta Air Lines (DAL) and Alaska Air Group (ALK) are down more than -2%.
Capricor Therapeutics (CAPR) is down more than -28% after the FDA declined to approve the company’s treatment candidate aimed at treating a disease of the heart muscle associated with Duchenne muscular dystrophy.
Civista Bancshares (CIVB) is down more than -12% after announcing the pricing of an underwritten public offering of 3.29 million shares of common stock at a price of $21.25 per share, below Thursday’s closing price of $24.82.
Oscar Health (OSCR) is down more than -4% after Wells Fargo Securities downgraded the stock to underweight from equal weight with a price target of $10.
Albemarle (ALB) is down more than -3% after UBS downgraded the stock to sell from neutral with a price target of $57.
Expeditors International of Washington (EXPD) is down more than -2% after Bank of America Global Research downgraded the stock to underperform.
Northern Trust Corp (NTRS) is down more than -1% after Keefe, Bruyette & Woods downgraded the stock to underperform from market perform with a price target of $120.
Drone-related companies are climbing today after US Defense Secretary Pete Hegseth issued orders to ramp up production and deployment of drones. Red Cat Holdings (RCAT) is up more than +19%, and AeroVironment (AVAV) and Kratos Defense & Security Solutions (KTOS) are up more than +7%.
Cryptocurrency-exposed stocks are higher as the price of Bitcoin (^BTCUSD) rose more than +3% to a new record high. MicroStrategy (MSTR) is up more than +3% to lead gainers in the Nasdaq 100. Also, MARA Holdings (MARA) and Riot Platforms (RIOT) are up more than +2%.
Levy Strauss & Co (LEVI) is up more than +10% after reporting Q2 net revenue of $1.45 billion, stronger than the consensus of $1.37 billion, and raising guidance on its full-year net revenue forecast to up +1% to +2% from a previous forecast of down -1% to -2%.
Performance Food Group (PFGC) is up more than +4% on reports that the company has attracted takeover interest from US Foods Holding Corp.
Visteon Corp (VC) is up more than +2% after Goldman Sachs upgraded the stock to buy from neutral with a price target of $120.
Nvidia (NVDA) is up more than +1% at a record high to lead gainers in the Dow Jones Industrials after CEO Huang met President Trump at the White House, ahead of Huang’s trip to China.
Earnings Reports (7/11/2025)
Hingham Institution For Saving (HIFS), Lifezone Metals Ltd (LZM), PACS Group Inc (PACS), Smith-Midland Corp (SMID), Unity Bancorp Inc (UNTY).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Periodand min./max. price, $	Price change, %		Volatility, %		Volume, $
Periodand min./max. price, $	RCAT	Industry	RCAT	Industry	Volume, $
Yesterday 11.0 - 12.1	-0.58	1.81	4.81	1.12	105.43M
Week 9.5 - 12.4	8.39	1.27	10.42	7.33	529.05M
Month 9.5 - 16.7	9.25	6.87	50.63	16.05	3.45B
3 Months 7.8 - 16.7	27.57	7.10	87.92	22.37	6.90B
6 Months 4.8 - 16.7	126.13	6.60	104.24	32.58	10.75B
Year 3.0 - 16.7	269.63	53.12	134.65	43.93	17.39B
3 years 0.5 - 16.7	729.68	134.96	186.85	81.55	17.82B
5 years —	—	138.14	254.62	105.29	—
All time 0.5 - 16.7	171.29	34.93	—	—	20.12B

Red Cat Holdings, Inc.

Price and volatility history

Risk ratios