Stock Indexes Mixed; Dow, S&P 500 Hit New Record Highs, Nasdaq Slips; Fed Chair Powell Set to Give First Comments Since Rate Cut

AutoZone Posts Weaker-Than-Expected Q4 Profit

3 minutes ago

AutoZone (AZO) posted weaker-than-expected quarterly profit as its spending increased.

The auto parts retailer reported fourth-quarter fiscal 2025 net income that dropped 7.2% to $837.0 million, with diluted earnings per share of $48.71. Analysts surveyed by Visible Alpha were looking for $867.5 million and $50.89, respectively. Revenue rose 0.6% to $6.24 billion, basically in line with forecasts. Same-store sales grew 4.5%, slightly higher than estimates.

Operating, selling, general, and administrative expenses were up 3.0% to $2.02 billion as AutoZone added 141 stores and expanded its inventory 14.1%.

CEO Phil Daniele said that trend will continue, as AutoZone expects to “aggressively open stores in the new year.” He added that by investing in the business, the company anticipates ”that our disciplined approach of increasing earnings and cash flow will deliver strong shareholder value.” 

AutoZone shares were flat in morning trading. Prior to today’s session, they were up 29% year-to-date.

–Bill McColl

Nvidia Levels to Watch After Chip Giant’s $100B Deal With OpenAI

1 hr 14 min ago

Nvidia (NVDA) shares lost ground in early trading Tuesday after logging their largest one-day percentage gain since July on news the AI favorite plans to invest up to $100 billion in OpenAI.

Under the deal, Nvidia will supply OpenAI with its next-generation Vera Rubin platform to help the ChatGPT maker build data centers and other AI infrastructure with a capacity of at least 10 gigawatts of power. The companies said they anticipate finalizing the details of the partnership in the coming weeks.

Nvidia shares were down 2% at around $180 in recent trading after surging nearly 4% on Monday. Through yesterday’s close, the stock had gained 37% so far in 2025, handily outpacing broader market returns over the period. Investors have piled into the stock as big tech hyperscalers and sovereign customers invest heavily in the company’s products as they ramp up their AI capacity.

After setting their record high last month, Nvidia shares consolidated within a symmetrical triangle before breaking out from the pattern in Monday’s trading session.

The breakout indicates a continuation of the stock’s extended move higher, with increasing volume in recent days signaling conviction from larger market participants.

It’s also worth noting that the relative strength index has moved back into bullish territory, confirming strengthening price momentum.

Read the full technical analysis piece here.

–Timothy Smith

Boeing Stock Rises on Uzbekistan Airways Order That Trump Says Is Worth $8B

1 hr 53 min ago

Boeing (BA) has logged its biggest-ever single order with a sale of up to 22 787 Dreamliners to Uzbekistan Airways, in a deal President Donald Trump said is worth more than $8 billion.

The companies said Monday that Uzbekistan Airways would buy 14 of Boeing’s 787-9 Dreamliner jets, with options for eight more, sending shares of the U.S. plane maker rising 2.2% in premarket trading. The stock entered 2025 up 20%, after stumbling last year following a series of safety incidents and a crippling strike at its Washington plants.

“Earlier this month I spoke with the Highly Respected President of Uzbekistan, Shavkat Mirziyoyev. Today I want to congratulate President Mirziyoyev on signing a GREAT Deal with Boeing!” President Trump said in on his Truth Social platform. He added that the deal is “worth over $8 Billion Dollars.”

The companies said the investment will support “nearly 35,000 U.S. jobs.”

Uzbekistan Airways said the order would help modernize its fleet and “expand its international routes to the U.S. and other long-haul destinations as demand for international travel continues to rise.” The Dreamliner is a wide-body jet known for being fuel efficient.

–Nisha Gopalan

IonQ Stock Rises as Firm Claims ‘Significant Quantum Internet Milestone’

2 hr 32 min ago

Shares of IonQ (IONQ) advanced 4% before the bell after the quantum computing company said it achieved a “milestone” advancement.

The College Park, Md.-based firm said it “successfully demonstrated the frequency conversion of photons from visible wavelengths used to interface with trapped barium ions, into telecom wavelengths on a prototype system. This critical milestone paves the way for interconnecting quantum computers over vast distances using the current existing fiber optic infrastructure.”

IonQ shares entered the day up more than 70% year-to-date.

OECD Says US GDP Growth to Slow Next Year

2 hr 57 min ago

The Organisation for Economic Co-operation and Development on Tuesday raised its growth forecast for the U.S. economy in 2025 on the back of investing around the AI boom, but noted that tariffs and lower net immigration are taking a toll and would lead to slowing growth next year.

The OECD said it expects the U.S.’s annual real gross domestic product growth rate to come in at 1.8% in 2025, up from its 1.6% projection in June. That is, however, well below the 2.8% GDP growth registered in 2024. U.S. GDP is projected to rise by just 1.5% next year.

“Strong AI-related investment boosted outcomes in the United States,” the Paris-based body said, but also noted that GDP growth is falling from 2024 as “strong investment growth in high technology sectors is more than offset by higher tariff rates and a drop in net immigration.”

The OECD said that the overall effective tariff rate in the U.S. rose to around 19.5% at the end of August, the month when President Donald Trump’s “reciprocal” tariffs went into effect. That is the highest rate since 1933, it said. The OECD also noted a softening in U.S. labor markets.

Read the full article here.

–Nisha Gopalan

Stock Futures Little Changed After Major Indexes Set Latest Record Highs

4 hr 2 min ago

Futures tied to the Dow Jones Industrial Average were up roughly 0.1%.

S&P 500 futures fell about 0.1%.

Nasdaq 100 futures slipped less than 0.1%.