Post-Bell｜Dow, S&P 500, Nasdaq Slip; Avis Budget and Navitas Lead Unusual Moves

01 Stock Market

The U.S. major indexes closed as follows: Dow Jones declined 0.59% at 49,149.38; S&P 500 declined 0.63% at 7,064.01; NASDAQ declined 0.59% at 24,259.97. Investors digested a new batch of earnings reports and mixed macro signals, leaving all three benchmarks in the red by the closing bell. Defensive pockets held up better, yet broad-based profit-taking after last week’s rebound weighed on technology and consumer cyclicals.

Among unusual-move stocks, swings were wide. Car-rental group Avis Budget (CAR) surged 17.27% at $713.97, extending a squeeze on heavily shorted positions. Semiconductor materials maker Navitas Semiconductor (NVTS) jumped 16.14% at $15.33, while health-insurer UnitedHealth (UNH) climbed 6.96% at $346.01 after lifting full-year guidance. Chip designer Advanced Micro Devices (AMD) rose 3.47% at $284.49; software giant Microsoft (MSFT) added 1.46% at $424.16. In contrast, Apple (AAPL) fell 2.52% at $266.17 and e-commerce platform PDD Holdings (PDD) declined 5.00% at $98.99. Notable downside also appeared in optical-network supplier Lumentum (LITE) which fell 6.50% at $836.92.

Market breadth tilted negative as cyclicals cooled. Energy names lagged despite a modest rise in crude prices, while mega-cap technology shares delivered mixed results. Overall, roughly two-thirds of S&P 500 constituents ended lower, pointing to cautious positioning ahead of a heavy week of earnings and key economic data.

02 Other Markets

U.S. 10-year Treasury yield was unchanged, latest at 4.29%.

USD/CNH fell 0.0567%, at 6.87; USD/HKD rose 0.0082%, at 7.83.

U.S. Dollar Index rose 0.0051%, at 98.42.

WTI crude futures rose 0.87%, at 90.45 USD/bbl; COMEX gold futures rose 0.41%, at 4,739.10 USD/oz.

03 Top News

1. UnitedHealth raised its full-year profit outlook after beating first-quarter estimates. Management cited lower medical-cost ratios and stronger Medicare reimbursements. The company also confirmed plans to repurchase at least $2 billion in stock by the end of the second quarter.

2. Avis Budget shares soared to a record high amid an intense short squeeze. Data provider Ortex estimated 86% of the float is sold short, forcing bearish traders to cover positions. Analysts at Barclays nonetheless downgraded the stock, warning fundamentals lag the price spike.

3. U.S. retail sales jumped 1.7%, the biggest monthly gain in a year. Gasoline receipts surged 15.5% as wartime supply fears lifted fuel prices. Broad-based strength across furniture, electronics and general merchandise pointed to resilient consumer demand despite inflation pressures.

4. Fed-chair nominee Kevin Warsh told senators a new inflation framework is needed. He blamed prior policy for allowing prices to surge and stressed the central bank must rethink how it tackles persistent cost pressures. Warsh declined to outline specific rate plans, maintaining independence from political influence.

5. President Donald Trump signalled confidence in sealing a “great deal” with Iran before a cease-fire deadline. He warned U.S. forces are ready for military action if diplomacy fails. The remarks injected further geopolitical uncertainty into energy and defense markets.

6. HSBC upgraded Intel to “buy,” citing an overlooked server CPU growth opportunity. The bank argued that AI-driven demand could sustain a multi-year earnings recovery. Shares edged higher as investors welcomed the endorsement.

7. KeyBanc boosted CrowdStrike to “overweight,” highlighting platform breadth in cybersecurity. Analysts said the firm’s narrow focus and strong go-to-market execution offer an edge even as big-tech rivals expand into the sector. The call followed broad strength across cybersecurity stocks.

8. Berenberg initiated coverage of Palo Alto Networks with a “buy” rating, calling it “best-in-class.” The brokerage praised multiple growth engines and a robust product portfolio. The positive view added momentum to security software names.

9. ADP data showed U.S. private employers added an average 54,750 jobs per week over the past month. Hiring accelerated 36% versus the prior four-week period, marking a fifth straight uptick. The improvement may bolster expectations for steady labor-market expansion.

10. Wolfe Research downgraded Exxon Mobil to “peer perform” after five years at the top of its list. Analysts said fair valuation and Middle-East exposure leave limited upside absent higher oil prices, prompting a more neutral stance on the energy major.