Investors have shown a bullish outlook on the market over the past few weeks.
However, the Federal Reserve’s two-day meeting began today, and markets slipped. The S&P 500, tech-heavy Nasdaq Composite, and Dow Jones Industrial Average were slightly lower than their previously achieved all-time highs.
In a turnaround, the S&P 500 closed 0.13% lower after trading at yet another 52-week high at the open. Similarly, Nasdaq’s new 52-week high dropped 0.07%.
The DJIA slipped 0.27%, along with its strong performer, Nvidia, which recorded a 1.64% drop in stock. Russell 2000 was down 0.09%.
News of a Disney deal made Webtoon, a digital comic platform, a star performer, with a record 36.8% gain in stock price. Steel Dynamics was up 7.2% and a top S&P 500 performer, whereas Warner Bros Discovery, losing its past gains, became the worst performer by slipping 6.5%.
Top Stocks of the Day
Five S&P 500 stocks making big moves today are:
- APA Corp (US) APA: +6.9%
- Steel Dynamics Inc STLD: +6.2%
- Occidental Petroleum Corp OXY: +5%
- Hershey Co HSY: +4.3%
- Bunge Global SA BG: +4.2%
The worst-performing five S&P 500 stocks today are:
- Warner Bros Discovery Inc WBD: -6.2%
- Paramount Skydance Corp PSKY: -5.7%
- Emerson Electric Co EMR: -4.9%
- Principal Financial Group Inc PFG: -3.4%
- Eversource Energy ES: -3.2%
Stocks also worth noting include:
- Nvidia NVDA: -1.64%
- Alphabet GOOGL: -0.20%
- Webtoon WBTN: +39%
- Bigbearai Holdings BBAI: +16.7%
- Baidu BIDU : +7.8%
Warner Bros loses over an unclear takeover bid
Investment bank TD Cowen downgraded Warner Bros Discovery’s stock from Buy to Hold today, causing the media conglomerate to slip 6.2%.
Analyst Doug Creutz, who downgraded the rating, finds Warner Bros’ risk/reward unattractive given the potential for the stock to “quickly round-trip” if the takeover does not take place, as reported at The Fly.
Related: Warner Bros. Discovery CEO drops bad news for HBO Max subscribers
Senator Elizabeth Warren also noted on X, “the ink is barely dry on the shady $8 billion Paramount/Skydance merger, and now Paramount wants to add Warner Bros Discovery to its growing list of wonder media companies. This deal would be a dangerous concentration of power over our media and news. It should be blocked.”
More Federal Reserve:
- Fed official sends bold 5-word message on September rate cuts
- New inflation report may have major impact on your wallet
- Morgan Stanley makes major change to Fed interest rate cut forecast
- Can the president fire a Federal Reserve governor?
- DOJ turns up the heat to remove embattled Fed official
Amidst concerns over the acquisition’s success, Warner Bros., along with Disney and Universal, has filed a copyright infringement lawsuit against a Chinese artificial intelligence firm, Minimax.
Webtoon stocks soar after Disney deal
Webtoon was up 39% at closing, reporting a 52-week high after news of its collaborations with Disney was released.
A webcomic platform, owned by the South Korean online platform Naver, Webtoon became known as it popularized serialized comics online.
With this multi-year deal with Webtoon, Disney is set to launch its own platform, where it will unite “an unparalleled collection of comics across Marvel, Star Wars, Disney, Pixar, and 20th Century Studios into a single digital platform,” said Josh D’Amaro, Chairman, Disney Experiences.
Related: Disney World announces next phase of closure for fan favorite
After this announcement, JP Morgan raised Webtoon’s price target to $22 from $14, keeping a Neutral rating and calling the partnership a “significant step-up.”
Steel Dynamics becomes a top S&P performer
Steel Dynamics, an industrial metal solutions company, had its stock up 6.14% after it provided positive earnings guidance for Q3 2025.
Citing growth across all divisions owing to strong shipments and an expected decline in scrap raw material costs, the company also noted higher demand in energy, non-residential construction, automotive and industrial sectors.
The ongoing tariffs and the focus on enhancing US infrastructure and domestic production are also likely to improve the steel industry’s results.
