Stock Market Today: GNRC & AMZN Data Center Deal, Cybersecurity PT Cuts, PSKY Down

Marley Kayden (0:00)

Welcome to The Wrap. I'm Marley Kayden, here to take you through today's market action. Let's take a look at where markets closed to end the day. It was green across the board today with the S&P 500 higher by a little more than 1%.

The Dow gained six-tenths of a percent. The tech-heavy NASDAQ 100 led the way with a gain of about one and three-quarters of a percent. And the Russell 2K was higher by a half of a percent. Nine of our 11 sectors in the S&P 500 were also in the green. Technology leading the way with a gain of two and two-tenths of a percent. Consumer discretionary was higher by about one and a half percent. And utilities gained a little bit more than eight-tenths of one percent. Only two to the downside were financials, which was lower by a tenth of a percent, and consumer staples, which closed just a tick below the unchanged line. As we look at some of the stocks that were on the move today, the big winner of the day was Generac, gaining 17 percent after the backup power company announced an agreement with Amazon that calls for $2.4 billion of initial generator deliveries in 2027 and 2028 The generators will provide backup power for Amazon data centers, and according to the regulatory filing, the deal could eventually generate as much as $8 billion for Generac. Cybersecurity names were also in focus after Bernstein downgraded Palo Alto Networks, Okta, and SentinelOne to market perform ratings, but they did raise price targets on all three. The firm said it needed to raise its price target multiple regression by a couple of turns, highlighting that the companies it found too cheap previously now seem fairly valued. And shares of Paramount closed lower by almost 4% on the session after a TMZ report that it's planning to leave California unless the state drops its antitrust lawsuit blocking the proposed merger with Warner Brothers Discovery. According to a report from Politico, Paramount Skydance is looking for office space in Nashville, which is where CEO David Ellison's dad is in the middle of building a new $4.5 billion headquarter for Oracle. That is going to do it for the wrap. I'm Marley Kayden. Remember you can tune in 24-7 to schwabnetwork.com and subscribe to our YouTube channel.