• Robinhood Markets and AppLovin shares surged Monday on word they will be added to the S&P 500 prior to the start of trading Sept. 22.
• S&P Dow Jones Indices said the duo and Emcor Group will replace Caesars Entertainment, MarketAxess Holdings, and Enphase Energy. Those three will be shifted to the S&P SmallCap 600 Index.
• The changes were part of S&P Dow Jones Indices' quarterly rebalancing. 

Shares of trading platform Robinhood Markets (HOOD) and mobile marketing provider AppLovin (APP) soared Monday on word they will be added to the S&P 500 Index.

S&P Dow Jones Indices, which sets the membership, announced after the close of trading Friday that the duo and engineering firm Emcor Group (EME) would join the index before the opening bell on Sept. 22 as part of its quarterly rebalancing. 

The companies will replace Caesars Entertainment (CZR), MarketAxess Holdings (MKTX), and Enphase Energy (ENPH), respectively. Those three will be shifted to the S&P SmallCap 600 Index. 

Shares of Robinhood and AppLovin were up more than 15% and 12%, respectively, in recent trading. Emcor Group stock edged lower.

Stocks of companies included in the S&P 500 can benefit because it exposes them to a wider group of investors who could become aware of them through an index. In addition, they can be added to various index funds that track stocks that are part of the S&P 500.

UPDATE—This article has been updated with the latest share price information.

• The U.S. is reportedly proposing a plan for Samsung Electronics Co. and SK Hynix to seek yearly approvals to export U.S. chip-making gear to China, allowing the South Korean tech giants to keep producing their chips.
• The plan comes after the Trump administration revoked earlier shipment waivers for the South Korean tech giants and Taiwan Semiconductor Manufacturing Co. to ship key chip-making tools to China.
• U.S. officials, according to Bloomberg, don't want to disrupt their chip operations but also won't green light gear exports that could "upgrade or expand" the chip facilities.

The U.S. is reportedly proposing a plan for Samsung Electronics Co. and SK Hynix to seek yearly approvals to export U.S. chip-making gear to China, allowing the South Korean tech giants to keep producing their chips.

The plan comes after the Trump administration revoked earlier shipment waivers for the South Korean tech giants and Taiwan Semiconductor Manufacturing Co. (TSM) to ship key chip-making tools to China.

According to Bloomberg, officials in the U.S. Commerce Department presented their Korean counterparts the plan last week for a “site license” after revoking the indefinite authorizations secured during the Biden era.

The companies would need approval under this plan “for a year’s worth of restricted gear, parts and materials at a time, spelled out in exact quantities,” said the report, which cited people familiar with the matter. The current authorizations—validated end user, or VEU, designations—are due to expire at the end of 2025, the report said. 

"US officials have said they don’t want to disrupt operations at those facilities, but also won’t approve shipments of gear that could be used to upgrade or expand them," the report said.

The White House, Samsung, and SK Hynix didn’t immediately respond to requests for comment. 

News of the day for Sept. 8, 2025

U.S. stock futures are pointing higher as investors prepare for inflation data later this week; Robinhood Markets (HOOD) and AppLovin (APP) shares are surging on news they will be added to the S&P 500; EchoStar (SATS) stock is soaring after it announced a $17 billion deal to sell spectrum licenses to Elon Musk's SpaceX; Treasury Secretary Scott Bessent said that the U.S. would be forced to pay refunds on tariffs if the Supreme Court voids the import taxes; and the U.S. is mulling annual permits for China chipmaking exports for Korean firms Samsung Electronics and SK Hynix. Here's what investors need to know today.

U.S. stock futures are pointing higher as investors look ahead to key inflation data later this week. Nasdaq and S&P 500 futures are up 0.4% and 0.3%, respectively, after the indexes posted modest gains last week. Dow Jones Industrial Average futures are higher by 0.2% after the blue-chip index declined for a second straight week. The yield on the 10-year Treasury note is inching higher. Bitcoin (BTCUSD) is up, trading near $112,000. Oil futures are 2% higher. Gold futures are little changed.

Shares of trading app Robinhood Markets (HOOD) and mobile app monetization company AppLovin (APP) are up 8% and 9%, respectively, in premarket trading on news the two companies will be added to the S&P 500 as part of the index's quarterly rebalancing. The firms will join the benchmark index on Sept. 22, replacing Caesar's Entertainment (CZR) and MarketAxess Holdings (MKTX), respectively. Meanwhile, Emcor Group (EME) stock is up 2% on news it also will be included in the index, replacing Enphase Energy (ENPH).

Shares of EchoStar (SATS) are surging 20% in premarket trading after the DISH TV parent agreed to sell approximately $17 billion in spectrum licenses to Elon Musk's SpaceX. EchoStar's Boost Mobile subscribers will have access to SpaceX's Starlink Direct to Cell service as part of the deal, which comes two weeks after EchoStar made a similar deal with AT&T to sell $23 billion in spectrum licenses. EchoStar said the transactions should resolve the Federal Communications Commission (FCC)'s inquiries into whether it was meeting certain requirements for both its wireless and satellite rights.

Treasury Secretary Scott Bessent said that the U.S. could have to refund the tariffs it has collected if the U.S. Supreme Court upholds a lower court ruling that President Donald Trump exceeded his legal authority in setting the import taxes. Bessent said on NBC's "Meet the Press" Sunday that if the ruling was delayed until June 2026, the U.S. could be in a position to refund between $750 billion and $1 trillion in tariffs, noting that it “would be terrible for the Treasury." The Trump administration last week asked the Supreme Court to expedite a ruling in the case.

The U.S. reportedly is mulling annual approvals for exports of chipmaking supplies to Chinese factories of Korean firms Samsung Electronics and SK Hynix. Bloomberg reported that Commerce Department officials presented the plan for a "site license" idea to Korean counterparts last week. The validated end user designations are set to expire at the end of 2025, the report said. Taiwan Semiconductor Manufacturing Co. (TSM) said last week that the U.S. pulled its authorization to ship essential chipmaking tools to a key site in China, disrupting its manufacturing base there.

Coffee shops and bookstores are college-campus staples. Now retailers selling apparel and candles are looking to get in on the action too. 

Companies eager to capture Generation Z’s spending power hope campus locations will draw younger consumers to their goods and establish their brands with tomorrow’s adult spenders, with mall-based stores and other chains planting their banners in collegiate settings. 

Teen fashion retailer Pacsun and creams and candles purveyor Bath & Body Works (BBWI) last month announced forays into hundreds of campuses. Pacsun is setting up pop-up shops to market “must-have” styles to students. Bath & Body Works said it’s opening more than 600 campus stores nationwide, “marking its largest distribution effort outside its own retail locations.”

The move “allows us to reach our Gen Z customers where they are and when they need us most,” said Betsy Schumacher, chief merchandising officer with Bath & Body Works.

Convenience store chain Wawa opened a standalone store in the heart of Villanova University’s campus last month. Its counterpart Buc-ee’s now sells some products at stores at Texas A&M.

“Collectively, students have huge spending power,” said Neil Saunders, retail analyst and managing director at GlobalData Retail. “Retailers want to tap into that.”

The spending heft of Gen Z, the fast-growing shopper demographic, is projected to grow to an estimated $12 trillion by 2030, according to market research firm NIQ.

“Retailers are looking for locations where they can follow the money,” said Walter Holbrook, a retail-industry consultant. “Gen Z, all of a sudden, now have their charge cards and they’re ready to spend some money.”

Colleges are also seen as good for building brand recognition and loyalty, according to Saunders. 

“Students have spending power in the here and now, but they are also the consumers of the future,” said Saunders. 

On Georgia Tech’s campus in Atlanta, for example, Amazon (AMZN) has on-campus lockers for delivery pick-up. Its Prime Student offering, meanwhile, advertises half-price membership for shoppers aged 18 to 24. The company, said Barry Thomas, senior thought leader with Kantar.is building “potent shopper rituals with the Amazon brand on campuses.”

Retail experts say many brands are looking for creative ways to expand their footprints that have a shot at attracting younger consumers less hardwired to shop at malls than previous generations but who haven’t given up entirely on the in-store experience.

Some companies have taken note of places where they send a lot of deliveries and determined that those locations could support a store, according to Holbrook.

“Retailers are getting creative about where they open new shops and the audiences they try to address,” Saunders said. 

• Inflation data for August comes ahead of a key interest rate decision later this month.
• Apple is expected to unveil its iPhone 17 at an event this week. Nvidia, Meta, and Microsoft are among the companies presenting at a major technology investment conference.
• Financial reports from Oracle and GameStop highlight the corporate earnings calendar.

August inflation data, updates from top tech firms, and earnings from the original meme stock darling are among the events that could move markets this week. 

The first look at August inflation—the Consumer Price Index—will show how price pressures are impacting the economy with Federal Reserve officials under pressure to cut interest rates later this month. Investors focused on jobs data to finish last week, during which the S&P 500 and Nasdaq managed gains while the Dow slipped.  

Apple is expected to unveil several new iPhone models, while Nvidia, AMD, Broadcom, and Meta are among the tech firms set t will deliver presentations at an influential investor conference. Oracle’s quarterly report comes as the cloud provider has closed several big deals, while Adobe’s update will provide a look at AI demand. GameStop’s earnings will show whether momentum remains behind the original meme stock. 

Read to the bottom for our calendar of key events—and one more thing. 

The Thursday release of the Consumer Price Index will show whether price pressures continued to hover around current levels in August. The same inflation report showed that prices rose less than expected in July.

Federal Reserve officials are broadly expected to make their first interest rate cut of the year after recent jobs data has shown weakening in the labor market—and even as inflation continues to impact the economy. The CPI report will be the last major piece of inflation data before the Fed announces its interest rate decision on Sept. 17. 

Apple is expected to unveil the new iPhone 17 at its event on Tuesday, where other models of the phone are likely to be unveiled, including a thin version called the “Air,” along with other “Pro” models. 

Several top tech firms will deliver presentations at the annual Goldman Sachs Communacopia + Technology Conference, where investors will hear from Nvidia on Monday, Meta and Broadcom on Tuesday, and Microsoft on Wednesday. Oracle’s earnings report on Tuesday comes as CEO Safra Catz has highlighted the “strong start” to the fiscal year for the tech giant. Graphic software maker Adobe boosted its full-year outlook after its prior earnings report came in better than expected, but investors were looking to see more from the company’s AI offerings. 

GameStop’s Tuesday report follows a disappointing quarter for the meme stock after it reported a 17% drop in revenue and announced plans to raise new funding.

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Monday, Sept. 8

• Consumer credit (July)
• Key Earnings: Casey’s General Stores (CASY), Planet Labs (PL)
• Nvidia (NVDA), AMD (AMD) present at Goldman Sachs Communacopia + Technology Conference

Tuesday, Sept. 9

• NFIB small business optimism (August)
• Key Earnings: Oracle (ORCL), Synopsys (SNPS), Rubrik (RBRK), Core & Main (CNM), SailPoint (SAIL), AeroVironment (AVAV), GameStop (GME)
• Apple (AAPL) iPhone launch event
• Meta Platforms (META), Broadcom (AVGO) present at Goldman Sachs conference

Wednesday, Sept. 10

• Producer Price Index (August)
• Key Earnings: Chewy (CHWY), Daktronics (DAKT), Oxford Industries (OXM), Alliance Entertainment (AENT)
• Microsoft (MSFT), Workday (WDAY) present at Goldman Sachs conference
• More Data to Watch: Wholesale inventories (July)

Thursday, Sept. 11

• Consumer Price Index (August)
• Key Earnings: Adobe (ADBE), Kroger (KR)
• More Data to Watch: Initial Jobless Claims (Week ending Aug. 16), Monthly U.S. federal budget (August)

Friday, Sept. 12

• Consumer sentiment - preliminary (September)

McDonald’s is rolling out a new value menu this week, part of its efforts to reclaim its position as a low-cost leader in the fast food marketplace. Investopedia’s Sarina Trangle has more on how the restaurant chain is trimming prices to bring back customers.

• President Donald Trump has pressured the Federal Reserve to lower its benchmark interest rate, saying doing so would help push down mortgage rates and interest the U.S. pays on its national debt.
  
• Mortgage rates are tied to inflation expectations, which could actually rise if investors believe the Fed is lowering its rate for political reasons.
  
• The government's long-term borrowing costs have only increased since the last time the Fed cut interest rates, casting doubt on the idea that cutting the fed funds rate would help the federal budget.
  

President Donald Trump's efforts to pressure the Federal Reserve into lowering its benchmark interest rate could result in higher borrowing costs for homebuyers and the federal government, experts say.

Since he took office, Trump has pushed the central bank to cut its key fed funds rate, which it has held at a higher-than-usual level all year in an effort to quell inflation. Trump has blamed the high fed funds rate for keeping interest rates elevated on the U.S. national debt, putting the government's budget farther into the red than it otherwise would be, and for keeping rates on mortgages high, pushing homebuying costs out of reach for millions.

However, economists believe that his attempted solution could make both problems worse. Here's how Trump's push to lower rates could have the opposite of its intended effect.

The Federal Reserve sets the fed funds rate, which determines the interest rates banks pay to borrow money from one another overnight. All kinds of other loans are tied to the fed funds rate, including credit cards and car loans.

Rates for 30-year mortgages, however, are not directly linked to the fed funds rate. Instead, they're tied to yields on 10-year Treasury notes issued by the U.S. government. Those yields are set by financial markets as traders buy and sell treasuries, with prices fluctuating based on how investors assess the risks involved. Inflation expectations heavily influence the yields: Generally, the higher the inflation forecast is for the future, the higher the yields go on 10-year Treasurys.

"If the market smells rising inflation, it's going to push long-term interest rates higher and not lower," said Jon Hilsenrath, senior advisor at financial services company StoneX.

In other words, if financial markets expect higher inflation in the future, mortgage rates are likely to rise.

Many experts have raised this concern, including staff at the National Association of Mortgage Underwriters.

"A hasty or ill-timed rate cut, especially one perceived as politically motivated, could do more harm than good—raising long-term borrowing costs, undermining financial confidence, and complicating the path to sustained economic growth," the organization wrote in an unsigned website post in April.

The Federal Reserve is the institution responsible for keeping inflation under control, and its main tool for doing so is the fed funds rate. When inflation is too high, the fed raises the fed funds rate, pushing up borrowing costs on short-term loans, slowing the economy and allowing supply and demand to rebalance. That's what it did starting in 2022 during the post-pandemic surge of inflation.

The more investors believe the Fed will succeed at keeping inflation running at its target of a 2% annual rate, the lower rates will be on long-term loans. But if people lose faith that the Fed will keep inflation under control, those rates could rise.

Even before Trump was elected, economists sounded the alarm that Trump's pressure on the Fed to lower interest rates could reduce its independence and, therefore, its credibility. Those concerns have only grown as Trump's rate-cut pressure has intensified, most recently with his dismissal of Fed Governor Lisa Cook.

"People are paying too high an interest rate," Trump said this month in a cabinet meeting. "That's the only problem with housing. We have to get the rates down a little bit."

Both ideological allies and opponents of Trump have raised concerns about the Fed's independence, including Michael R. Strain, director of policy studies at the conservative American Enterprise Institute think tank.

"Eroding central bank independence will make investors, businesses, and households less confident that the Fed will be able to keep inflation low and stable because they will expect that the president will be able to bully the Fed into keeping interest rates lower than is merited, juicing demand and creating inflationary pressure," Strain wrote in August. "Higher expected future inflation will put upward pressure on long rates."

Recent experience casts doubt on the idea that a lower fed funds rate would push down long-term borrowing costs. In late 2024, the Fed cut its benchmark interest rate by an entire percentage point over the course of four months, at a time when it looked like inflation was finally simmering down to the Fed's goal.

Since then, yields on 10-year Treasurys and mortgage rates have hovered around the same range. Yields on 30-year Treasury bonds, which reflect investor concerns about inflation and the government's ability to pay its debts, have neared 5% in recent days, a level not seen since 2006. That's especially problematic for the federal budget since the Treasury Department is the one paying interest on those bonds.

Future rate cuts could also have the opposite of the desired effect, especially if markets believe the Fed is making the cuts for political reasons.

 "The President might get what he wants and get a much lower short-term interest rate," Hilsenrath said. "But long-term interest rates on federal government debt could increase." 

• A new report out of the Center for Retirement Research at Boston College suggests that taxing employer-sponsored health benefits could provide a boost to the Social Security program.
• Most of the program's revenue currently comes from the payroll tax, which is levied on income up to $176,100. Benefits aren't included in this tax base.
• The report suggests that adding employer-sponsored health insurance to the program's base could boost revenue for the program by $70 billion.

The Social Security program is projected to run out of funding by 2034, and there’s a lot of debate as to what to do about it. Most experts agree Congress should find a way to boost the program’s revenue, as opposed to cutting benefits.  

One idea: Tax employer-sponsored health benefits. 

Right now, most of the program’s revenue comes from the payroll tax, which is levied on income up to $176,100 as of 2025. Any annual earnings above that are exempt from Social Security taxes.

The value of most benefits, such as health insurance, a retirement plan, or disability coverage, is generally not subject to federal income taxes and is excluded from the payroll tax base. 

A new report from the Center for Retirement Research at Boston College suggested that adding employer-sponsored health insurance (ESI) to the program’s contribution base would impact Social Security’s revenue and overall health.

There’s no question that it would help. 

The authors looked at 2021 tax data—the most recent available. Adding ESI benefits to the Social Security taxable wage base would have raised the average tax by $420 per year (about 7%), boosting Social Security revenue by $70 billion, they found.

A flaw with this provision, though, is that adding ESI to the payroll tax base would increase tax burdens on workers who earn less than $176,100.

If Congress doesn’t act to make changes to Social Security, the trust fund covering the funding gap is estimated to run out by 2034. Without intervention, recipients will only receive 81% of their expected benefits at that time.

Taxing employer-sponsored health benefits is just one option. Experts say there are multiple ways to bridge the funding gap. Here are some of the most prominent suggestions:

• Raise the Earning Cap- The earnings cap, or the wage base, is the maximum amount of an individual's earnings subject to the Social Security tax each year.
• Increase Payroll Taxes- Some experts believe a gradual increase of 1% (from 6.2% to 7.2%) could help balance the funds. 
• Implement a System That Automatically Adjusts- Congress could create a mechanism so that the program automatically adjusts revenues or benefits when a shortfall emerges.
• Create Additional Funding Sources- Two senators have suggested creating an additional fund that would be invested in stocks, bonds, and other investments, and generate a higher rate of return than the current trust funds.
  

Richard Johnson, senior fellow at the Urban Institute and co-author of the brief, said that to protect low-income workers, Congress could restrict the tax on health benefits to workers with annual earnings above a certain threshold, much like the current earnings cap.

The report also compared the impacts of this change to what strictly raising the earnings cap could do for Social Security. 

Many beneficiaries, economists, and policy experts believe expanding the earnings cap to reflect the rise in high-wage earners is a simple solution to improve the health of the Social Security program. The CRR report compared the impact of adding ESI to the tax base with eliminating the earnings cap altogether.

Eliminating the earnings cap instead of adding ESI to the tax base would increase the average annual 2021 Social Security contributions by $1,330, or 22.5%. This would have had three times the impact on the program that adding ESI to the tax base would, boosting Social Security by approximately $220 billion, according to Johnson.

However, Johnson notes, “Raising the payroll tax cap makes sense, but that won’t be enough.”

That’s because earnings have grown much faster for high-wage workers than low-wage workers. As a result, the share of total earnings subject to the payroll tax has shrunk. In 2023, it was 83%, versus 89% in 1985.

He said the best solution to ensure the health of the program will require a “multi-pronged approach.” Coupling a raise in the payroll tax cap with another source of revenue, such as the ESI approach, is the best bet to ensure the program’s longevity

Social Security's spending has exceeded its revenue since 2021, because the number of beneficiaries is growing faster than the pool of younger workers who pay into the program. If Congress doesn’t intervene within the decade, beneficiaries will only receive 81% of their expected benefits.

Investor appetite for companies linked to AI is high—and not just for their stocks. Valuations for America’s hottest private artificial intelligence startups are soaring as investors clamor for exposure ahead of possible market debuts.

Among the latest examples: Reports this week said ChatGPT maker OpenAI boosted the size of a secondary share sale that could lift its valuation to $500 billion. That’s up from $300 billion earlier this year and would make OpenAI the most valuable venture capital-backed startup ever. OpenAI didn’t respond to Investopedia's request for comment in time for publication.

Also this week, Claude maker Anthropic said its latest fundraising round lifted its valuation to $183 billion, nearly tripling its level in March. 

And Elon Musk's xAI, which brought the world ChatGPT rival Grok, is reportedly in talks with investors about plans to raise funds that could bring its valuation to $200 billion from an estimated $113 billion in March.

Some fresh listings related to AI have performed well lately, suggesting a healthy appetite for new AI plays.

CoreWeave (CRWV), a cloud computing company backed by chipmaker Nvidia (NVDA), has more than doubled from its initial public offering price since going public in March. Nvidia supplier Astera Labs (ALAB), which offers semiconductor-based connectivity solutions for AI infrastructure, is up more than 400% from its debut last year.

Because private startups like OpenAI aren’t publicly traded yet, it’s difficult to speculate what their market value could be after an IPO or how additional details about their businesses made public during the registration process could affect demand for the shares. Still, the growth of recent private AI valuations offers another strong signal of demand for AI-linked shares, a force that could mint a new cohort of market heavyweights.

If OpenAI were to obtain a market capitalization close to its private valuation of $500 billion, that would make it the 20th most valuable public company in the world, just behind Mastercard (MA) and Netflix’s (NFLX).

A market value near or around $200 billion would make Anthropic and xAI more valuable than major financial firms like Citi (C), Charles Schwab (SCHW), and BlackRock (BLK).

If you want to invest in these companies, but aren’t eligible for employee stock options or other direct ownership criteria required to buy them directly from the company, there are other ways to gain exposure.

You may be able to trade with existing shareholders like employees or other early investors on third-party platforms like EquityZen, Hiive, or Forge, which facilitate buying and selling shares of pre-IPO companies. However, you'd need to qualify as an "accredited investor" per the Securities and Exchange Commission's definition, which comes with specific financial or professional requirements.

Another option would be private-market funds, which typically have investment minimums and are also often limited to accredited investors, but may be more accessible with a growing number of offerings with lower barriers to entry from financial firms looking to capitalize on demand for broader access to private equity.

And Robinhood recently launched "tokenized" stakes of OpenAI and SpaceX to users in Europe, with plans to expand similar offerings to the U.S. OpenAI has distanced itself from the tokenized offerings, however, writing at the time that “these 'OpenAI tokens' are not OpenAI equity. We did not partner with Robinhood, were not involved in this, and do not endorse it.”

Three new companies will join the S&P 500 later this month.

Trading platform Robinhood Markets (HOOD) and mobile app monetization company AppLovin (APP) are set to join the benchmark index on Sept. 22, according to S&P Dow Jones Indices, part of a quarterly rebalancing.

They will replace Caesar's Entertainment (CZR) and MarketAxess Holdings (MKTX), respectively. Emcor (EME), meanwhile, will take the place Enphase Energy (ENPH).

Leading up to the decision, investors engaged in a favored niche pastime: trying to guess—and, perhaps, trade ahead of the news—what the picks might be. Robinhood and and Applovin were popular suggestions; so was bitcoin treasury company Strategy (MSTR), which didn't make the cut.

Strategy's shares rose Friday, though those of Robinhood and AppLovin retreated during the regular session. Recap Investopedia's live coverage of today's trading here.

S&P Dow Jones Indices has in recent months changed companies both for company-specific business reasons—in August, for example, it tapped Interactive Brokers (IBKR) to replace Walgreens Boots Alliance (WBA) with the latter set to be taken private later this year, while Block (XYZ) joined earlier this summer after Hess was acquired—and as part of its periodic rebalancing efforts.

The S&P 500 rebalancing process takes place quarterly—in March, June, September and December—though no changes were announced in June.

Caesar's, Enphase and MarketAxess will join the S&P SmallCap 600, S&P Dow Jones Indices said.

• The S&P 500 slipped 0.3% on Friday, Sept. 5, 2025, as a soft jobs report raised concerns about the U.S. economy's growth trajectory.
• Lululemon shares dropped after the athletic apparel maker reported underwhelming same-store sales and cut its outlook.
  
• Broadcom topped quarterly estimates, highlighting strong AI demand, and shares of the chipmaker surged.

Major U.S. equities indexes lost ground Friday after the Bureau of Labor Statistics released its latest employment report.

The data showed the U.S. added fewer-than-expected jobs in August, and a downward revision to earlier estimates revealed the economy shed jobs in June, the first month of losses since 2020.

The S&P 500 slid 0.3% on the final day of the holiday-shortened trading week. The Dow was down 0.5%, while the tech-heavy Nasdaq ended the session with a fractional loss of less than 0.1%.

Lululemon Athletica (LULU) shares fell the most of any stock in the S&P 500 on Friday, plummeting 18.6%. The maker of athletic apparel posted softer-than-expected same-store sales growth for its fiscal second quarter and trimmed its full-year revenue guidance, pointing to tariff impacts and sluggish U.S. sales. Jefferies analysts suggested Lululemon could face even tougher conditions ahead, citing competitive pressures and doubts about the company's pipeline of new designs.

Shares of Kenvue (KVUE) dropped 9.4% after The Wall Street Journal reported the Department of Health and Human Services, under the leadership of Robert F. Kennedy, Jr., plans to release a report suggesting a link between autism and pregnant women's use of Tylenol. The popular over-the-counter painkiller is made by Kenvue subsidiary McNeil Consumer Healthcare. A Kenvue spokesperson on Friday contested the claims allegedly made by the report.

Advanced Micro Devices (AMD) shares tumbled 6.6% after Seaport Research downgraded the chipmaker's stock to "hold" from "buy." Analysts pointed to signs of slowing demand for AMD's artificial intelligence accelerators, and noted it could become difficult for the company to meet lofty expectations.

Broadcom (AVGO) shares surged 9.4%, logging the top performance in the S&P 500, after the chipmaker reported better-than-expected sales and adjusted profit for its fiscal third quarter. Demand for AI semiconductors boosted Broadcom's performance, with AI revenue rising 63% year-over-year. The company also said it had secured $10 billion in orders from a new customer, which reports later suggested was OpenAI.

Shares of pool equipment supplier Pool Corp. (POOL) advanced 5.5% after Friday's weak jobs report cemented the case for an interest rate cut at the Federal Reserve's policy meeting later this month. Expectations of a rate cut caused the 10-year Treasury yield, which influences mortgage rates, to sink to its lowest level since April. Elevated mortgage rates have kept the U.S. housing market in a deep freeze for the last three years, which has dragged on the businesses of homebuilders and home goods producers like Pool.

Tesla (TSLA) proposed a new compensation plan for CEO Elon Musk that could be worth roughly $1 trillion. Reaching that amount would require the electric vehicle maker's CEO and world's richest person to achieve certain performance targets, including helping Tesla reach a market cap of $8.5 trillion and a total of 20 million vehicle deliveries. Negotiations around Musk's compensation have grown contentious in the past, and shareholders are set to vote on the proposed package on Nov. 6. Tesla stock added 3.7% Friday.