Trending stocks in record week for U.S. market

U.S. stocks soared this week, with all three major indexes posting strong gains and setting record highs, driven largely by a continued surge in tech stocks and easing global trade tensions.

The S&P 500 climbed roughly 3% to a record close and its first all-time high since February. The Nasdaq Composite rose about 4%, also hitting a fresh record, as investors continued to pile into AI-related technology names. The Dow Jones Industrial Average gained nearly 3.5%, closing around 43,819.

The rally was fueled by renewed optimism around artificial intelligence, with the Magnificent Seven contributing significantly to market momentum. Easing U.S.-China trade tensions and expectations that the Federal Reserve may begin cutting interest rates later this year also helped lift sentiment.

Despite the strong performance, analysts noted that only around 50% of S&P 500 companies are currently trading above their 200-day moving averages, indicating that the rally is still somewhat narrow. However, improving breadth in cyclical sectors suggests growing investor confidence.

Tesla (TSLA) drew attention as the EV maker rolled out its long-awaited driverless taxi service in Austin, Texas over the weekend. The limited rollout features Model Y vehicles running on Tesla’s Full Self-Driving software, which uses a camera-based AI system, unlike rivals that rely on lidar or radar.

Hims & Hers (HIMS) shares tumbled after Novo Nordisk (NVO) ended their partnership, halting access to weight-loss drug Wegovy via NovoCare Pharmacy. Novo accused the telehealth firm of violating U.S. regulations by mass-selling compounded drugs under the pretense of personalization and flagged safety concerns. An investigation found some semaglutide compounds were sourced from unapproved suppliers, mainly in China. Novo said it will only partner with telehealth providers that meet safety and legal standards.

Nike (NKE) shares rose after the company forecast a smaller-than-expected revenue decline for the current quarter, signaling a potential turning point in its earnings trajectory, according to analysts. The sportswear brand also announced plans to reduce its dependence on manufacturing in China to help offset the impact of U.S. import tariffs. The company warned that President Donald Trump’s broad tariffs on major trading partners could add around $1B to its costs.

Super Micro Computer (SMCI) fell after announcing a $2B convertible note offering due 2030. Proceeds will fund capped call transactions, repurchase up to $200M in shares, and support general corporate needs.

Fiserv (FI) gained after the fintech giant announced plans to launch a stablecoin and digital payments platform for its clients. The new platform will reportedly offer interoperability with other stablecoins and connect to more than 10,000 financial institutions and millions of merchant locations. Fiserv also announced partnerships with PayPal and Circle to power stablecoin payment

Chewy (CHWY) slipped after funds advised by BC Partners announced plans to sell $1 billion worth of shares in the pet products e-retailer.

Teladoc Health (TDOC) rose after Citron Research argued that the market is undervaluing the virtual healthcare platform.

FedEx (FDX) fell after issuing a first-quarter profit forecast that fell short of analysts’ expectations and announcing it would not provide full-year profit guidance due to ongoing uncertainty in global demand.

Micron Technology (MU) shares rose after the company posted third-quarter results and guidance that significantly exceeded expectations, driven by strong demand fueled by artificial intelligence investments.

AeroVironment (AVAV) stock rallied after reporting record Q4 and full-year revenue, bookings, and profits, driven by strong demand for its uncrewed and loitering munitions systems.

Bumble (BMBL) rose after it announced plans for a 30% workforce reduction to realize $40M in annual savings. The company also lifted its Q2 revenue and EBITDA guidance.