Wall Street Retreats as Tech Drags Markets Lower

Major Indices Closed Lower :

S&P 500 (SPX): -0.55% to 6,656.93

Dow Jones (DJI): -0.19% to 46,292.78

Russell 2000 (RUT): -0.24% to 2,457.51

On September 23, 2025, U.S. stock indexes closed lower, with the Nasdaq Composite, S&P 500, and Dow Jones Industrial Average falling 1%, 0.6%, and 0.2%, respectively, driven by declines in tech stocks after hitting recent highs. Federal Reserve Chair Jerome Powell, in his first comments since the Fed's rate cut, noted the challenge of balancing employment and price stability, describing stocks as "fairly highly valued."

Gold futures hit a record $3,800/ounce, oil prices rose 2.3% to $63.70/barrel, and the 10-year Treasury yield dipped to 4.11%. The OECD raised its 2025 U.S. GDP growth forecast to 1.8% but projected a slowdown to 1.5% in 2026 due to tariffs and lower immigration.

Decliners: Generac Holdings (-10%), Vistra (-6.3%), Regeneron Pharmaceuticals (-4.7%), Oracle (-4.4%), and Amazon (-3%).

Advancers: Halliburton (+7.3%), McKesson (+6.4%), Paramount Skydance (+6%), Kenvue (+1.6%), and Boeing (+2%).

Micron Technology rose after reporting record Q4 sales, driven by AI demand, while Nvidia fell nearly 3%, despite a $100 billion deal with OpenAI for AI infrastructure.

Boeing gained after securing an $8 billion order from Uzbekistan Airways, and IonQ rose 4.5% after a quantum computing milestone.

10:00 am- New home sales (Aug).

The Dow declined -0.19%, closing at 46,292.78. Key support sits at 46,181.41; holding above could spark a rebound toward 46,399.59 and 46,500.

The index ended at 24,580.17. Key support lies at 24,500; holding above this level could open upside toward 24,684.51 and 24,701.96.

Closing at 6,656.92, the S&P is trading above support at 6,636.56. If buyers hold this level, the potential upside targets are 6,676.89 and 6,690.49.

SPY was trading at $664.60 pre-market, with support at $663.64 and potential upside targets at $664.95 and $666.41.

QQQ was trading at $600.07 pre-market, with key support at $597.80. Holding above this level keeps upside targets in play at $600.47 and $602.50.

IWM was trading at $244.28 pre-market. Support is nearby at $243.55, while the potential upside levels stand at $244.98 and $245.58.

SMH traded at $322.60 pre-market. Support lies at $321.27; a bounce could test $323.69 and $324.47.

SOXL was at $34.46 pre-market. Support at $34.04 must hold to fuel a move towards $34.89 and $35.04.

Company Overview- Cintas Corp, founded in 1929, has evolved from a family rag-cleaning business into a leading Industrials sector provider of corporate identity uniforms and services, boasting an $80.83 billion market cap.

Historical Performance- Cintas demonstrates steady revenue growth at a 10.6% three-year CAGR, robust operating and net margins of 22.82% and 17.53%, and a proven track record of exceeding earnings and revenue estimates.

Analyst Expectations- For Q1, analysts project EPS of $1.19 and $2.7 billion in revenue, targeting up to $11.15 billion for fiscal 2026.

Growth Drivers- Expansion strategies, enhanced margins, and a broad service portfolio—including uniforms, mats, mops, towels, and safety supplies—solidify Cintas' role as a key outsourcing partner for businesses.

CTAS was trading at $202.20 pre-market. Support is at $200, while the potential upside levels stand at $203.10 and $205.09.

Earnings Outlook- Uranium Energy Corp is expected to report a Q4 EPS loss of $0.04 and $17 million in revenue.

Company Focus- UEC is advancing low-cost, environmentally friendly in-situ recovery (ISR) uranium mining, supporting carbon-free nuclear energy.

Strategic Expansion- The company recently launched a U.S. refining unit to enhance nuclear fuel security, strengthening its sector presence.

Financial Metrics- UEC reports $66.84 million in trailing twelve-month revenue, but negative margins (-89.3% operating, -113.29% net).

Risk Factors- Uranium price volatility, regulatory challenges, and a stock beta of 1.05 highlight moderate market risks.

UEC was trading at $13.98 pre-market. Support is at $13.85, while the potential upside levels stand at $14.17 and $14.30.

Company Overview- As a leading RV manufacturer, THO holds a $5.42 billion market cap, with stock at $102.25, a PE of 24.50, and a beta of 1.33, indicating moderate volatility.

Analyst Projections- Thor Industries (THO) will report Q4 FY2025 earnings on September 24, 2025, before market open. Consensus expects EPS of $1.18-$1.26 and revenue of $2.32-$2.36 billion, reflecting an 8.4% year-over-year revenue decline.

Historical Performance- Last quarter, THO beat revenue estimates by 10.1% with $2.89 billion, up 3.3% YoY, but has missed revenue three times in two years.

THO was trading at $102 pre-market. Support is at $101, while the potential upside levels stand at $103.15 and $103.53.

Company Overview- As a leading U.S. homebuilder operating in 49 markets, KBH focuses on personalized, energy-efficient homes with a market cap of around $4.25 billion and stock at $62.41.

Analyst Projections- KB Home (KBH) will announce Q3 2025 earnings after market close. Q3 revenue expected at $1.60 billion, an 8.6% year-over-year decline from $1.75 billion; adjusted EPS projected at $1.49, down from $2.03 last year.

Key Risks- Challenging housing market with softer demand, margin pressures, and sector headwinds despite Fed rate cuts.

KBH was trading at $62.65 pre-market. Support is at $61.94, while the potential upside levels stand at $63.05 and $63.76.