Nasdaq and S&P 500 set to open lower amid tech sell‑off
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- Nasdaq and S&P 500 were set to open lower as the U.S. tech sell‑off spread to Asian and European markets, with the 10‑year Treasury climbing to 4.534%.
- Lululemon cut its full‑year guidance and posted a weak outlook, sending the stock down more than 11% in pre‑market trading after BTIG downgraded it to hold.
- S&P Global said it will not grant early entry to SpaceX in its index ahead of the company’s anticipated IPO, rejecting calls for inclusion.
- CrowdStrike beat expectations and raised its full‑year outlook, yet its shares fell 4% after investors questioned why the hype around Anthropic’s Mythos model hadn’t yet boosted results.
- Chipotle was upgraded to buy from hold by JPMorgan, which called the stock a “rare valuation opportunity” and noted it trades at levels not seen since 2021.
Why it matters: Retail investors face downside risk from the projected Nasdaq decline and Lululemon’s 11% pre‑market slide, while value‑oriented funds stand to benefit from JPMorgan’s Chipotle upgrade, potentially shifting capital toward undervalued consumer stocks.
