Closing Bell Movers: Applied Materials gains after earnings beat

S&P 500 notched new record highs with its first close above 7,500 while Dow Industrials reclaimed the 50,000 level as Tech driven rally continued on Thursday.  The sector was by far the best performing area of the market, with positive sentiment rooted in blowout earnings overnight from Cisco (CSCO) as well as fresh record highs from Nvidia (NVDA).  The chipmaker was up over 4%, supported by reports that US cleared H200 chip sales to 10 China firms in a gesture of goodwill during President Trump’s visit to Beijing.  

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In the evening session, equity futures are little changed despite more good news for the Tech afterhours in the way of strong Q2 results and constructive commentary regarding the global build-out of AI computing infrastructure from Applied Materials (AMAT).  In commodities, WTI Crude Oil is down for the 3rd straight session with a retreat below $98 per barrel as traders reacted to US pressure on China to persuade Iran to reopen the Strait of Hormuz.  Base metals rally over the first half of May is also stalling – Copper retreated below $6.60 per lb and Silver is down for the 3rd straight day below $85 per ounce.

Check out this evening’s top movers from around Wall Street, compiled by The Fly.

HIGHER AFTER EARNINGS –

• Gemini Space Station (GEMI) up 16.5%
• Figma (FIG) up 11.2%
• Boot Barn (BOOT) up 7.3%
• York Space Systems (YSS) up 6.3%
• Globant S.A. (GLOB) up 4.8%
• Celcuity (CELC) up 2.2%
• Applied Materials (AMAT) up 1.4%

ALSO HIGHER –

• Papa John’s (PZZA) up 8.4% after Reuters report franchisee, Irth in buyout offer for chain
• DexCom (DXCM) up 5.5% after announcing collaborating with Elliott Management on two new Board members

DOWN AFTER EARNINGS –

• United States Antimony  (UAMY) down 6.5%
• Nu Holdings (NU) down 6.0%
• Rumble (RUM) down 4.7%
• DLocal Limited (DLO) down 4.0%