Market Summary – May 8
U.S. stocks climbed Thursday after a new U.S.-U.K. trade deal was announced, providing market access for American goods in exchange for tariff adjustments.- S&P 500: +0.6%
- Dow Jones: +0.6%
- Nasdaq: +1.1%
Top Gainers (S&P 500)
- Axon Enterprise (AXON): +14.1%
Surged on strong earnings, citing rising demand for its AI-driven policing software. - EPAM Systems (EPAM): +12.9%
Beat earnings expectations and raised guidance; announced a new CEO. - Enphase Energy (ENPH): +12.2%
Gained after launching a new solar product in Germany aimed at apartment and off-grid users.
Top Losers (S&P 500)
- Match Group (MTCH): –9.6%
Fell on declining paying users and news of a 13% workforce cut. - Fortinet (FTNT): –8.4%
Dropped after weak revenue guidance despite beating profit forecasts. - Cencora (COR): –6.8%
Slipped following a strong earnings report due to concerns over future growth in key product lines. - Peloton (PTON): –6.7%
Declined after tightening its revenue forecast and posting a narrower-than-expected loss.
Commodities
- WTI Crude Oil: +3.3% to $60.00/barrel
- Gold: –2.4% to $3,310.70/oz
- Silver: –0.7% to $32.57/oz