Stock Market Summary – June 24, 2025

Josh Brown, CEO of Ritholtz Wealth Management, has announced that Uber is the largest stock position in his personal portfolio. Brown argues that the company will benefit from the self-driving car boom. Shares in Uber jumped more than 8% as it expanded its partnership with Waymo in Atlanta and Tesla rolled out autonomous taxis in Austin, Texas. Uber shares are up more than 52% this year to around $92 per share.

Companies making significant moves include Carnival which surged almost 7% after exceeding Q2 earnings and revenue expectations, while Uber shares climbed almost 8% with Waymo offering robotaxi rides in Atlanta through the Uber app. American Airlines, United Airlines, and Delta all saw gains following a drop in oil prices after a ceasefire in Iran and Israel. Nvidia’s stock is also up 9% this year, with a gain of more than 800% since the release of OpenAI’s ChatGPT back in 2022. In contrast, Advance Auto Parts and oil stocks, including Exxon Mobil and Chevron, saw decreases in shares ranging from 1.8-9%.

While Apple has a significant stock buyback history, it’s been suggested they should change this strategy and focus on artificial intelligence (AI) developments. The introduction of generative AI could provide lucrative opportunities. However, Apple’s efforts in AI have been deemed lacklustre, and shares in the company have fallen almost 20% year to date.

Following global markets outperforming U.S. stocks in 2025, Tim Seymour of Seymour Asset Management suggests U.S. investors should look to a global version of the popular “Magnificent 7” portfolio. This includes multinational companies such as SAP, emphasizing the global trends in AI and data centers.

The stock market experienced positive movement in response to easing geopolitical tensions in the Middle East, most notably with a ceasefire announced between Israel and Iran. But the assessment of success for U.S. strikes on Iranian nuclear sites appears conflicted, with Pentagon claims of obliterating Iran’s nuclear capabilities countered by reports suggesting only a few months of setback were achieved.

Jim Cramer’s Charitable Trust is reducing its holdings in CrowdStrike, selling 10 shares at $487 each, and Eaton, selling 25 shares at $340 each. Despite the sell-off, there is no altered belief in the long-term future of these companies. Eaton’s sale stems from concern over shrinkage in the magnitude of its earnings beats, while the CrowdStrike trim comes on the back of its stock’s approximately 40% rally this year. Both companies have allowed the Trust to realize significant gains; 57% from CrowdStrike shares purchased in October 2024, and 48% from Eaton shares bought in November 2023.

Significant activity in the stock market includes an anticipated 3% increase for Broadcom following positive expectations for the company’s custom chip business. However, the Trust wishes to limit its risk and greed by selling some shares due to the recent run. Price target hikes were also announced for GE Vernova by Morgan Stanley, suggesting the stock still holds an attractive risk-reward balance despite its recent outperformance.

Some fluctuation was seen in Amgen stocks, with flat movement following a nearly 6% drop on the back of disappointing mid-stage trial data for its weight-loss drug. Goldman Sachs downgraded Dollar General from buy to hold over valuation concerns and similarly reduced RH’s status from neutral to sell, predicting difficulty with year-on-year comparisons in a weak housing market.

Crucially, the ceasefire doesn’t interrupt the increased global cyber threat, which may in fact be exacerbated by it. This magnifies the relevance of increased cybersecurity investment for businesses of all sizes. Recent market movement is also seen as having been positively affected by reduced oil prices brought about by the Middle East ceasefire.

Finally, it is reiterated that waiting periods are respected before purchases are made following a trade alert issuance to provide fair opportunities for all participants in the market.

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