Stock Market Live September 24: S&P 500 (VOO) Rises Ahead of Inflation, Jobs Reports
Key Points
- Micron beat on earnings last night and gave strong guidance for next quarter, but its stock is down premarket.
- Cintas likewise beat on earnings, and its stock is down premarket as well — on weak guidance.
- Nvidia made early investors rich, but there is a new class of ‘Next Nvidia Stocks’ that could be even better; learn more here.
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Wednesday Wrap-up
Adobe Written Down
Morgan Stanley analyst Keith Weiss downgraded S&P 500 component company Adobe (Nasdaq: ADBE) to equalweight with a $450 price target this morning.
“Direct ‘Gen AI’ monetization has lagged initial investor (and our) expectations,” complains Weiss, warning “there is relative uncertainty in a sizable portion of the Adobe ARR base where we lack confidence in Gen AI advancements being a net positive.”
Adobe stock is down more than 3% in response.
Thor Roars
And some more good earnings news: Thor Industries (NYSE: THO), one of the biggest RV manufacturers in the country, but not an S&P 500 component, crushed on earnings this morning with a fiscal Q4 2025 profit of $2.36 per share, nearly double the forecast. Revenue was also better than expected at $2.5 billion, and Thor’s guidance for full-year fiscal 2026 profit between $3.75 and $4.25 is also much better than analysts expected.
Thor stock is up more than 4.5% at last report. The Voo however has turned negative again, down 0.1%.
Uranium Energy Stock Doesn't Melt Down
Looking beyond the S&P 500, uranium mining company Uranium Energy (NYSEMKT: UEC), which has been benefiting from positive comments from President Trump boosting the nuclear power industry this year, missed on earnings this morning, reporting a $0.20 per share loss. Sales also came in light at $66.8 million — about $10 million worse than expected.
After trading down premarket, Uranium Energy is now up nearly 5%. The Voo has also flipped to positive, up 0.1%.
This article will be updated throughout the day, so check back often for more daily updates.
Call it the waves before the storm. The Vanguard S&P 500 ETF (NYSEMKT: VOO) is rising about 0.2% premarket Wednesday, following a 0.5% decline Tuesday. There’s no big economic news on deck today, but Thursday will see the U.S. Bureau of Labor Statistics update its report on unemployment trends, and Friday comes the personal consumption expenditures report from the Bureau of Economic Analysis.
Both data points have the potential to shake up the market.
In more micro-economic news today, China’s Amazon.com, Alibaba (Nasdaq: BABA), says it will increase its investments in artificial intelligence beyond the $53 billion it has already promised to spend over the next three years. That’s likely to weigh on profits, but investors are looking at it more as an investment in the company’s future — and bidding up Alibaba shares more than 8% premarket.
Earnings
On the earnings front, S&P 500 component company Micron (Nasdaq: MU) beat on its Q4 2025 earnings report last night, reporting $3.03 per share in profit on $11.3 billion in revenue. Micron further predicted growing profits in fiscal Q1 2026, saying it will earn between $3.60 and $3.90 per share on sales between $12.2 billion and $12.8 billion — all numbers well ahead of estimates.
Perversely though, it seems investors expected Micron to do even better, and so the stock is down 0.4% premarket.
Fellow S&P 500 component Cintas (Nasdaq: CTAS) likewise beat on earnings, by one cent this morning, reporting earning $1.20 per share on $2.7 billion in fiscal Q1 2026. Cintas gave full-year guidance for profits of $4.74 to $4.86 per share on sales of $11.1 billion or $11.2 billion.
Cintas’s guidance disappointed investors, however, and the stock is down more than 3% premarket.
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