Closing Bell Movers: CoreWeave down 10% despite revenue beat, guidance raise
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Benign inflation data goosed market sentiment on Tuesday, with in-line CPI report containing little evidence of tariff-infused goods inflation demanding that the Fed prioritizes the full employment side of its mandate at the next FOMC decision. CME Fed Watch tool bolstered the odds of a September cut to over 90% on the release while the odds of a 3-cut 2025 scenario were back at an even 50%. Speaking after market close, Treasury Secretary Bessent opined that the CPI report bolsters the case for a 50bp cut next month, also arguing that if Fed had 'accurate' jobs data, they would have been cutting in June and July. Rate-sensitive sectors were among the best performers on the S&P 500, Home Builders and Regional Banking names seeing especially strong gains.
Check out this evening's top movers from around Wall Street, compiled by The Fly.
HIGHER AFTER EARNINGS –
WEBTOON Entertainment (WBTN) up 40.2% after earnings, Disney partnership
Caris Life Sciences, Inc. (CAI) up 4.1%
Intapp (INTA) up 22.8%
Lumentum (LITE) up 1.1%
DOWN AFTER EARNINGS –
Cava Group (CAVA) down 21.6%
Luminar Technologies (LAZR) down 19.0%
Hyliion Holdings (HYLN) down 11.2%
CoreWeave (CRWV) down 10.1%
ALSO LOWER –
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