S&P 500 Reaches Record Highs Amidst Growth Stock Volatility

The S&P 500 index reached new record highs, reflecting overall market optimism. However, certain growth stocks faced notable volatility. Palantir Technologies experienced a significant decline, attributed to potential defense budget cuts that could impact its defense-related revenues. Similarly, Axon Enterprise saw a sharp drop due to emerging competition concerns and a recent analyst downgrade after losing a key technology partner. Additionally, Cava's stock plummeted following recent gains, amidst a broader retreat in restaurant stocks. In after-hours trading, indices saw slight declines, with companies like Toast reporting mixed results and Carvana indicating potential further declines due to weak margins. U.S. crude oil prices rose to $72.25 per barrel, while Treasury yields and several growth ETFs fluctuated. Despite the broader market's positive momentum, investors are advised to exercise caution and diligently manage their portfolios.