Post-Bell | S&P 500, Nasdaq End at Record Closing Highs; Nvidia, Meta, Broadcom Close at New Highs; Sea Ltd Soars 19%

The S&P 500 and the Nasdaq scored record closing highs on Tuesday, as news that July inflation rose broadly in line with expectations bolstered bets on a Federal Reserve interest rate cut next month.

The Labor Department said the Consumer Price Index (CPI) rose 0.2% on a monthly basis in July, while annual inflation came in slightly below forecasts, drawing calls from U.S. President Donald Trump to lower interest rates.

Market Snapshot

The Dow Jones Industrial Average rose 483.52 points, or 1.10%, to 44,458.61, the S&P 500 rose 72.31 points, or 1.13%, to 6,445.76 and the Nasdaq Composite rose 296.50 points, or 1.39%, to 21,681.90.

Market Movers

BigBear.ai dropped 16% after the artificial-intelligence software provider reportednegative second-quarter adjusted earnings before interest, taxes, depreciation, and amortizationof $8.5 million, compared with year-earlier negative Ebitda of $3.7 million. Revenue of $32.5 million missed consensus estimates for $40.6 million. BigBear.ai also cut its 2025 revenue outlook to a range of $125 million to $140 million, below its previous range of $160 million to $180 million. The company said it has “seen disruptions in federal contracts from efficiency efforts this quarter, most notably in programs that support the U.S. Army.”

Hanesbrands jumped 28% following a report from the Financial Times that the U.S. underwear-maker may soon be acquired by Gildan Activewear. The companies are nearing a deal which would value Hanesbrands at about $5 billion, including debt, it reported, citing people familiar with the matter. Gildan shares declined 3.6%.

Mercury Systems rose 27% after the technology company’s fiscal fourth-quarter adjusted earnings and revenue handily topped Wall Street forecasts. Raymond James analyst Brian Gesuale upgraded the shares to Strong Buy from Outperform and boosted his price target to $80 a share from $55.

Celanese reported second-quarter adjusted earnings and revenue that beat analysts’ expectations but shares fell 13 % after the chemicals manufacturer said it anticipates third-quarter adjusted profit of between $1.10 and $1.40 a share, below consensus of $1.73. Management cited a “softening demand environment” across key end-markets in the second half of the year.

Intel was up 5.6%. President Donald Trump said he had a“very interesting” meetingwith CEO Lip-Bu Tan late Monday. An Intel spokesperson, in an emailed statement, said it was a “candid and constructive discussion on Intel’s commitment to strengthening U.S. technology and manufacturing leadership.” The meeting came after Trump called for the executive’s resignation in a Truth Social post last week.

Circle Internet Group gained 1.3% after the stablecoin issuer reportedsecond-quarter revenueof $658 million. The metric topped Wall Street forecasts and represented a 53% increase from last year.

AST SpaceMobile rose 8.4% after the satellite company confirmed it has a fully funded plan to deploy between 45 and 60 satellites into orbit by next year. The stock has risen tenfold since the start of 2024 and backers hope it could challenge the Starlink business of Elon Musk-led SpaceX.

Cardinal Health tumbled 7.2% after the drug distributor reported mixed quarterly earnings and announced it hadstruck a dealto acquire Solaris Health, a urology management services organization, for $1.9 billion in cash.

On Holding jumped 9%. Second-quarter sales rose 38% on a constant currency basis from the same period last year while adjusted earnings before interest, taxes, depreciation, and amortization rose 50%. While the Swiss shoemaker posted an adjusted loss of 11 U.S. cents, management attributed it to unfavorable exchange rates and said it “does not impact or reflect the financial health” of the business.

Shares of Oklo climbed 9.2%. The nuclear start-up posted a second-quarter loss of 18 cents a share, wider than analysts’ forecasts that called for a loss of 11 cents, but narrower than a loss of 27 cents from a year earlier. The stock fell earlier in the session but turned higher after the Department of Energy named Oklo among 11 companies selected to participate in a nuclear reactor pilot program.

Sinclair was up 19%. The media company said late Monday it had authorized a review of its broadcast business and was evaluating a separation of its Ventures portfolio. There is no guarantee a transaction will take place, Sinclair said.

Fluence Energy sank 19% after the energy-storage company reaffirmed its full-year guidance but said production was ramping up at a slower-than-expected pace at its recently commissioned U.S. manufacturing sites, which would affect revenue through to next year.