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Traders work on the floor of the New York Stock Exchange on Tuesday.Key Takeaways
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The S&P 500 rose 2.1% on Tuesday, May 27, 2025, after President Trump postponed new tariffs on imports from Europe.
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Tesla shares gained after CEO Elon Musk vowed to dedicate more of his attention to the electrical vehicle maker.
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Hologic shares took off following reports that the medical device maker rejected a buyout offer from a pair of private equity firms.
Major U.S. equities indexes tore higher to kick off the holiday-shortened trading week after President Trump postponed new tariffs on imports from Europe and a report showed an uptick in consumer confidence.
The S&P 500 advanced 2.1%, while the Dow gained 1.8%, and the tech-heavy Nasdaq rose 2.5% as Nvidia (NVDA) and other AI stocks climbed ahead of the chipmaker's earnings Wednesday.
Shares of Hologic (HOLX), a medical technology company focused on women's health, surged 14.5% to mark Tuesday's top performance in the S&P 500. The push higher followed a Financial Times report that Hologic rejected a buyout offer from private equity firms Blackstone (BX) and TPG (TPG). Although the maker of mammography machines and other diagnostics equipment turned down the deal, the report suggested that deal talks could continue.
Footwear companies saw their stocks move higher following the strong consumer sentiment data and amid optimism around trade policy. Shares of Deckers Outdoor (DECK), which owns Hoka, Ugg, and Teva brands, jumped 7.8% on Tuesday, clawing back a portion of the steep losses posted last week after the firm withheld its full-year outlook, citing tariff-related uncertainties.
Tesla (TSLA) shares gained 6.9% after CEO Elon Musk vowed to dedicate more of his attention to the electrical vehicle maker. Concerns that Musk has been overly focused on his work for the Trump administration have weighed on Tesla's stock this year. The executive's renewed commitment to "spending 24/7 at work" came as a report showed a year-over-year plunge in Tesla's European sales.
Shares of consumer credit scorer Fair Isaac (FICO) dropped 11.3%, posting the biggest daily decline of any S&P 500 stock. Tuesday's tumble extended a string of recent losses for the stock, after Federal Housing Finance Agency Director Bill Pulte last week raised concerns about FICO's pricing.
Shares of AutoZone (AZO) skidded 3.4% after the car parts retailer reported results for its fiscal third quarter. Although same-store sales exceeded estimates, gross margins declined from the year-ago period. CEO Phil Daniele said he expects margins to improve as AutoZone ramps up its new distribution centers. Analysts have suggested that AutoZone could be poised to benefit from consumers opting to fix their vehicles rather than purchase new ones as price stickers begin to reflect tariff impacts.
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