September Market Starts With Hangover
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CLOSING BELL
September Market Starts With Hangover
The market struggled on the first trading day of September, falling across the board. Instead of selling in May and going away, retail went on a buying spree all summer, sending the S&P 500 up 25% in 100 days, and now the market is selling in September, waiting for rate cuts or November? 😄
Kraft shares fell after its rumored split came true in an SEC filing, and Treasury Yields spiked after a federal appeals court ruled most Trump-era global tariffs illegal. The move sent Gold Prices $3,500/oz as investors sought safe-haven assets.
Today’s issue covers: Google is keeping Chrome for now, meme names climbing, tariffs might be ending, and more. 📰
One of 11 sectors closed green, with energy $XLE ( ▲ 0.14% ) leading and real estate $XLRE ( ▼ 1.7% ) lagging.
$SPY ( ▼ 0.74% ) $QQQ ( ▼ 0.84% ) $IWM ( ▼ 0.54% ) $DIA ( ▼ 0.54% )
STOCKS
Google Gets To Keep Chrome, But Can’t Make It Exclusive 🎪
A federal judge ruled Tuesday that $GOOG ( ▼ 0.72% ) can keep its massive Chrome browser, up for a breakup after an antitrust ruling in a 2020 court case. Google shares jumped 7% after the post-market report, though the company will have to stop ‘compelled syndication,’ or paying tech companies to use Google search as the default engine on devices and internet browsers. ❌
“Google will not be required to divest Chrome; nor will the court include a contingent divestiture of the Android operating system in the final judgment,” the decision said. “Plaintiffs overreached in seeking forced divestiture of these key assets, which Google did not use to effect any illegal restraints.”
Apple is one of the companies that rake in billions a year to feature Google search as the default engine on smartphones. U.S. District Judge Amit Mehta handed down the ruling, stating that he did not cut Chrome because it would harm partners and customers. 🛫
It’s been a long road to nowhere following the Google antitrust case. The court decided that Google had overstepped the bounds of monopoly laws in April of this year, and the burgeoning searchtech market went wild with speculation on what it would mean.
Chrome has courted unprovoked buying opportunities, including pitches from one-time major competitor Yahoo, and AI search startups OpenAI and Perplecity. Looks like, for now, no one’s getting their hands on Google Search quite yet.
As GOOG trended to the top of Stocktwits, user sentiment was extremely bullish.
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MACRO NEWS
Tariffs Might Not Be Legal 😥
Treasury buyers were concerned that the U.S. would have to repay the $30B a month taxes it had collected through emergency tariffs, after news on Friday that a federal appeals court found the Trump administration misused emergency powers.
The ruling, though it is on a fast track to the Supreme Court for review, makes it look like Uncle Sam has to pay back the heaviest taxes on trade set for a century. Importers told CNBC that nothing has changed yet, and markets are uncertain until a set October 14 deadline before tariffs come down.
Treasury Secretary Scott Bessent said Tuesday he thinks the SCOTUS will uphold the admin’s use of the 1977 emergency powers, after the president asked for an expedited ruling. Trump said the U.S. would become a third-world country if the courts take away tariffs, though that would just set us back to how things were in March.
The court specifically ruled on tariffs put in place on baseline 10% tariffs, reciprocal 10-41% tariffs, and fentanyl emergency tariffs. Specific duties on goods like steel and aluminum are not in question, under a 1962 Trade Expansion Act designation. ‘74 trade act tariffs also are not affected, according to Bloomberg.
Either way, the move is scary for the bond market. Congress cut taxes significantly this year, hoping to offset some of the losses with new trade taxes. 💰️
TRENDING
Big Market Falling, Smaller Retail Names Fly 🦃
Despite the down market, meme stock names were trending to session highs by the Tuesday close. While the overall market sleeps, could it be time for meme stocks to stay up?
Gamestop $GME ( ▲ 4.46% ) reached a high last set in July, $OPEN ( ▲ 14.38% ) OpenDoor flew toward the close, still suffering (or enjoying) 24% short interest and its recent status of a meme stock since its July debut on FinTwit, according to Benzinga.
American Eagle $AEO ( ▲ 4.41% ) climbed, as retail whips up excitement before the jean seller reports earnings Wednesday after its time in the controversy limelight this summer.
They were not the only retail favorite names climbing while the overall market sank:
Lucid $LCID ( ▼ 10.81% ) fell, but it wasn’t about EV competitor Nio’s earnings results Tuesday morning. Barron’s reported the stock sold off after a one-for-10 reverse split on Tuesday.
Mankind $MNKD ( ▲ 25.05% ) climbed after positive study results and analyst upgrades from the biopharma company researching treatments for lung diseases.
Ulta Beauty $ULTA ( ▲ 8.08% ) climbed after a major 7% sell-off on Friday following the cosmetic compani’s latest report.
POPS & DROPS
Top Stocktwits News Stories 🗞️
Kraft Heinz fell after the company announced a tax-free spin-off into two public companies, one with brands like Heinz and Kraft Mac and Cheese called Global Taste Elevation, valued at 2024 net sales of $15.4B, and one called North American Grocery with 2024 net sales of $10.4B, selling Oscar Mayer and Kraft Singles. Warren Buffett expressed disappointment over his mastermind merger plan gone wrong.
Arrowhead Pharmaceuticals surged 11% after announcing a $200M upfront licensing deal with Novartis for its preclinical Parkinson’s therapy, with potential milestones reaching $2B.
TSMC shares fell after the U.S. revoked its Nanjing facility’s VEU status, curbing equipment shipments and tightening export controls.
Constellation Brands dropped 7% after slashing its fiscal 2026 profit and sales forecasts, citing price-sensitive consumers and weakening demand for high-end beer.
Anthropic raised $13B in a Series F round, pushing its valuation to $183B as run-rate revenue surged fivefold to $5B in just eight months.
Nio projected record Q4 deliveries of 150,000 vehicles driven by strong demand for its new Onvo L90 and ES8 models, with retail sentiment targeting a year-end stock price of $10–$20.
Don’t miss a story! Follow @StocktwitsNews for a live feed in real time. ✍️
PRESENTED BY STOCKTWITS
Stock Buybacks, Waller’s Uncertainty, and Rising Yields, Chris Brecher’s September Playbook
Christopher Brecher, founder and CEO of TradingNest.tv predicts that the S&P 500 could drop 10% by mid-October if the long bond yield breaks above 5% and trends toward 5.5%. He highlights a lack of corporate buybacks and rising concerns about consumer confidence as additional drags on equities. Brecher also notes that if mortgage rates rise while money market yields decline, the middle class will be squeezed, further pressuring the market.
While acknowledging his view may not be popular, he calls the bond market a critical juncture that could define the next major move. Check out a clip:
WHAT’S ON DECK
Tomorrow’s Top Things 📋
Economic data: JOLTS Job Openings (10:00 AM), FOMC Member Kashkari Speaks (1:30 PM), Beige Book (2:00 PM). 📊
Pre-Market Earnings: Macy’s ($M) and Dollar Tree ($DLTR). 🛏️
After-Market Earnings: Salesforce ($CRM), ChargePoint Hldgs ($CHPT), C3.ai ($AI), Figma ($FIG), and Asana ($ASAN). 🌕️
P.S. You can listen to all of these earnings calls and more straight from the Stocktwits app or website. You’ll find them on the calendar page and individual symbol pages once they’re set to begin! We’ll see you there. 👍
Links That Don’t Suck 🌐
🥇 Explainer-Gold’s record-breaking rally: who’s keeping it going?
📺️ Hundreds of economists defend Lisa Cook, Fed’s independence in open letter
👀 There’s a ‘golden opportunity’ to pay 0% capital gains under Trump’s ‘big beautiful bill’
🎩 Powerball jackpot soars to $1.3 billion. Here’s what the winner will take home after taxes.
😨 Trump deployment of military troops to Los Angeles was illegal, judge rules in blistering opinion
*3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here.
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