Yahoo Finance

Key Takeaways

• The S&P 500 slipped less than 0.1% on Friday, May 30, 2025, as President Trump rekindled his tough rhetoric on China and a key report revealed softening inflation.

• Regeneron Pharmaceuticals shares plummeted after the company's experimental COPD treatment fell short of expectations in a late-stage clinical trial.

• Makeup seller Ulta Beauty reported better-than-expected quarterly sales and profits, and its shares surged.

Major U.S. equities indexes were mixed in the final session of the holiday-shortened trading week as President Donald Trump reverted to an antagonistic tone on trade with China and the latest Personal Consumption Expenditures data showed that inflation fell more than expected in April.

The S&P 500 staged a Friday-afternoon rally, coming back from deeper in negative territory to end with a loss of less than 0.1%. The Nasdaq was down 0.3%, while the Dow held onto a gain of 0.1%. The Nasdaq and S&P logged their strongest months since 2023. Read Investopedia's full coverage of today's trading here.

Shares of Regeneron Pharmaceuticals (REGN) plunged 19%, dropping the most of any stock in the S&P 500. The losses came after an experimental treatment for chronic obstructive pulmonary disease in former smokers, developed by Regeneron in collaboration with Sanofi (SNY), failed to meet primary endpoints in a Phase 3 trial. The companies said they are reviewing the data and will work with regulators to outline potential next steps. U.S.-listed shares of Sanofi slid 5.7%.

Cooper Cos. (COO) shares dropped 15% after the contact lens manufacturer reduced its full-year outlook for organic growth while edging out consensus sales and adjusted profit estimates with its fiscal second-quarter results. Analysts at JPMorgan downgraded Cooper stock to "neutral" from "overweight," citing the company's uneven execution and the possibility of a sustained slowdown in market trends.

Shares of Eastman Chemical (EMN), known for its specialty plastics and adhesives, fell 3.8%. The company announced that its molecular recycling project in Longview, Texas, which was previously expected to receive $375 million in public funding, was among 24 awards revoked by the Department of Energy.

Cosmetics retailer Ulta Beauty (ULTA) topped sales and profit estimates for its fiscal first quarter and lifted its outlook for the full year. CEO Kecia Steelman highlighted contributions from new and exclusive brands as well as strong sales of fragrance products, noting that consumers were turning to beauty products "as a comfort and escape from the stress of macro uncertainty." Ulta shares skyrocketed 12%, scoring the S&P 500's top daily performance.