Reddit

The S&P 500 retreated from its record as pressure in large technology names outweighed selective strength in memory stocks and Reddit’s index-inclusion surge. Softer retail sales, weaker consumer sentiment and worsening disruption near Hormuz left traders reassessing growth, inflation and rate expectations at the same time.

The S&P 500 retreated from its record close as losses in major technology names outweighed pockets of strength in memory stocks and energy. Reddit’s index-inclusion rally remained intact, but softer consumer data and worsening Hormuz tensions kept broader risk appetite under pressure.

In a resurgence reminiscent of his GameStop short squeeze fame in 2021, Keith Gill, widely known as 'DeepFu*kingValue', reignited market excitement by sharing his GME options positions on Reddit, sparking a surge in speculative activity across meme tokens and related equities.