Stock Market Recap: March 27, 2025
On Thursday, March 27, 2025, U.S. stock markets experienced declines across major indices, with the S&P 500 down 0.3%, influenced by the announcement of new tariffs on imported automobiles and mixed economic data.
Top Gainers:
Petco Health & Wellness (WOOF): Surged 31.6% following better-than-expected quarterly results.
Soleno Therapeutics (SLNO): Soared after receiving drug approval.
Winnebago Industries (WGO): Rose sharply due to strong earnings.
Top Losers:
GameStop (GME): Dropped 22% after announcing a convertible note offering and new investment in Bitcoin.
General Motors (GM): Declined 7.4% due to concerns over new auto tariffs impacting supply chains.
Major Earnings Reports:
Cintas (CTAS): Increased by 6% after raising its earnings forecast.
Concentrix (CNXC): Reported better-than-expected earnings and revenue, resulting in a significant stock increase.
Notable Industry News:
Automotive Tariffs: President Donald Trump announced a 25% tariff on imported automobiles, aiming to encourage domestic manufacturing. This led to declines in traditional automakers' stocks, while some electric vehicle manufacturers saw gains.
Economic Data: The Commerce Department reported GDP growth at an annual rate of 2.4%, while initial jobless claims increased slightly to 224,000.
Overall, the market reacted to trade policy developments and economic indicators, resulting in a mixed performance across sectors.
