S&P 500 Hits New Record as Oracle Shares Slide

Market Performance & Key Indices - S&P 500 closed at a record high, up approximately 02% [7] - Dow Jones Industrial Average closed at a record high, up more than 600 points or 13% [8] - Russell 2000 outperformed, up 12% to a fresh record high [8] - Nasdaq Composite and Nasdaq 100 declined by about 02% to 03% [7] Individual Stocks & Company News - Oracle's stock experienced its worst single day since January, down 109%, following increased spending on data centers and equipment [16][17] - Rivian shares fell by 6% after unveiling its own AI chip to replace Nvidia tech [18][19] - Eli Lilly's stock increased, with its next-generation obesity shot showing promising results in weight loss and knee pain reduction [14] - Disney agreed to invest $1 billion in OpenAI AI and license iconic characters for use on the startup's AI video platform [15] Sector Performance - Materials sector was a significant outperformer, up by 22% [11] - Financials sector also performed well, up 18% [11] - Communication Services sector was the worst performer, down 1% [11] Lululemon Management Change & Financials - Lululemon announced that Calvin McDonald will step down as CEO effective January 31st, 2026, with Marty Morphett taking on an expanded role as executive chair [21][22] - Lululemon's fourth-quarter net revenue outlook is $35 billion to $359 billion [23] - Lululemon's third-quarter EPS was $259, exceeding the street estimate of $222 [23] - Lululemon's international comp sales for the third quarter, ex currency, were up 18%, exceeding the estimated street estimate of 107% [24]