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I have been writing about the k-shaped economy this week but we’re increasingly in a k-shaped stock market. The S&P 500 hit a record this week but yesterday, 9% of stocks in the S&P 500 hit a 52-week low.This is a market that’s being carried by some Mag7 names and the AI trade.AbbVie (ABBV) — Fell 1.6% after another weak quarter in its aesthetics segment despite strength in new anti-inflammatory drugs.Amazon (AMZN) — Up 13.5% on strong earnings ($1.95/sh vs. $1.57 est.) and $180.2B in revenue, beating expectations.Apple (AAPL) — Added 2% after topping Q3 earnings and revenue forecasts and guiding for a strong holiday quarter.Brighthouse Financial (BHF) — Soared 24% after FT said Aquarian Holdings is in talks to buy and take the insurer private.Charter Communications (CHTR) — Fell 5% as EBITDA missed ($5.56B vs. $5.61B est.), offset by slightly better revenue.Chevron (CVX) — Gained 1.5% as profits from the $53B Hess acquisition lifted oil output and cash flow.Cboe Global Markets (CBOE) — Up 1% after beating Q3 estimates and announcing a business realignment and asset sales.Dexcom (DXCM) — Dropped 12% after management warned 2026 revenue growth could trail Wall Street’s 15% forecast.Exxon Mobil (XOM) — Shares down 0.8% despite beating Wall Street expectations for a sixth straight quarter, driven by new oil production in Guyana.Intuitive Machines (LUNR) — Up 5% after an $8.2M Air Force contract extension for nuclear spacecraft power systems.Netflix (NFLX) — Up 1.3% premarket; approved a 10-for-1 stock split and reportedly exploring a bid for Warner Bros. Discovery assets.Newell Brands (NWL) — Sank 18% on weak earnings and guidance cut; now expects EPS of $0.56–$0.60 and revenue down 4.5–5%.Nvidia (NVDA) — Flat; CEO Jensen Huang said he still hopes to sell Blackwell chips to China but has no near-term plans.Ramaco Resources (METC) — Up 13% after signing a deal with the U.S. Energy Department to advance rare earths mining.Strategy (MSTR) — Climbed 6% after revenue ($128.7M) topped estimates, helped by bitcoin exposure and software growth.Twilio (TWLO) — Surged 11% as Q3 results beat estimates ($1.25/sh on $1.3B revenue vs. $1.08/sh est.).Western Digital (WDC) — Gained 9% after earnings ($1.78/sh on $2.82B revenue) beat expectations.
This article was written by Adam Button at investinglive.com.
💡 DMK Insight
The S&P 500’s record high masks a troubling trend: 9% of its stocks just hit 52-week lows. This divergence highlights a k-shaped market where a handful of mega-cap stocks, often referred to as the ‘Magnificent Seven,’ are driving the index higher while broader market participation weakens. For traders, this could signal a potential correction as the underlying weakness in the majority of stocks may lead to increased volatility. If you’re holding positions in the broader market, now’s the time to reassess your exposure. Watch for key support levels in the S&P 500; if it breaks below recent highs, it could trigger a broader sell-off. On the flip side, focusing on the strong performers could yield short-term gains, but be cautious of over-reliance on a few stocks. Keep an eye on sector rotation and consider diversifying into undervalued stocks that may rebound as the market stabilizes. Watch for earnings reports and economic indicators that could influence market sentiment in the coming weeks.
📮 Takeaway
Monitor the S&P 500 closely; a break below recent highs could signal a broader market correction amid underlying weakness.
