Market Update for Tuesday, September 2, 2025
Top News
As of the U.S. market close on Tuesday, September 2, 2025, stocks finished lower as investors digested a federal appeals court ruling that most of President Trump’s tariffs are illegal (stayed until Oct. 14) and awaited this Friday’s August jobs report; the Dow -0.56%, S&P 500 -0.70%, Nasdaq -0.81%.
Rising long‑term Treasury yields pressured rate‑sensitive groups and lifted the VIX, contributing to the risk‑off tone.
ISM manufacturing remained in contraction in August (48.7) but improved from July, adding to the mixed macro backdrop.
PepsiCo gained after Elliott Management disclosed a ~$4B activist stake and a turnaround plan focused on portfolio and operational changes.
Kraft Heinz fell after announcing plans to split into two publicly traded companies; the move drew fresh scrutiny, including critical commentary from Berkshire Hathaway’s Warren Buffett during the day.
Gold hit a record above $3,500/oz on rising Fed cut odds, helping gold miners buck the broader decline.
Top Movers
On Tuesday, September 2, 2025, the US stock market has the following top movers:
Top gainers:
1. Cytokinetics (CYTK) +40%: Shares surged after highly positive MAPLE‑HCM trial data showed aficamten outperformed beta blocker metoprolol in obstructive hypertrophic cardiomyopathy; analysts framed the results as potentially practice‑changing.
2. Frontier Group Holdings (ULCC) +15%: Jumped on expectations it can capture share after rival Spirit Airlines filed for a second bankruptcy and plans route cuts; Deutsche Bank upgraded the stock to Buy.
3. Ulta Beauty (ULTA) +8.1%: Rallied after raising FY25 sales/earnings outlook on resilient beauty demand and as analysts lifted price targets following last week’s beat.
Top losers:
1. Kraft Heinz (KHC) -7.0%: Dropped after announcing a plan to split into two listed companies, reversing part of its 2015 merger; intraday commentary from Berkshire’s Warren Buffett added pressure.
2. Constellation Brands (STZ) -6.6%: Fell after the Modelo/Corona owner cut its FY26 outlook, citing weaker beer demand (notably among Hispanic consumers) and tariff impacts.
3. GE Vernova (GEV) -6.0%: Slid among the S&P 500’s worst as higher long‑term yields and growth worries hit power/electrification plays; no fresh company‑specific catalyst at the close.
Latest Market Sentiment
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GREED
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