Today’s S&P 500 Highlights: Kraft Heinz and Nvidia Slide, While Ulta Beauty Bounces Back

U.S. stocks took a hit on September 2, 2025, after the extended Labor Day break. The S&P 500 fell by 0.7%, the Dow slipped 0.6%, and the Nasdaq dropped 0.8%. Chipmaker Nvidia saw a 2% decline, reflecting broader worries in the tech sector.

Investors are closely watching the job market this week. Many are waiting for Friday’s jobs report, which could influence the Federal Reserve’s decisions on interest rates.

One of the day’s biggest surprises came from Kraft Heinz. Shares plummeted 7% after the company announced plans to split into two separate businesses. One will handle its North American grocery products, like Oscar Mayer and Kraft Singles, while the other will focus on sauces, including Heinz ketchup and Philadelphia cream cheese. This strategic shift comes a decade after Kraft and Heinz merged to form a major food giant.

Constellation Brands, known for beers like Modelo and Corona, lowered its profit forecasts. The company faces declining demand in the beer market, expecting a 2% to 4% drop in sales for FY2026. As a result, its shares fell 6.6%.

Albemarle, a major player in lithium mining, also had a tough day. Shares dropped by 6.3%. Analysts raised their price target for Albemarle ahead of the holiday weekend, citing a recovery in lithium prices. However, uncertainty about the lithium market and Chinese policies means caution is still advised.

In contrast, Ulta Beauty shares surged 8.1%, the highest gain in the S&P 500 for the day. Analysts praised the company’s solid quarterly results and strategic progress. New CEO Kecia Steelman has been steering the company since early 2025, and it seems to be paying off.

Meanwhile, Biogen received FDA approval for a new injectable version of its Alzheimer’s treatment, Leqembi. This new method allows patients to treat themselves at home instead of visiting an infusion center. This positive news helped Biogen shares rise by 5.6%.

Ralph Lauren also made headlines, with shares climbing 4.8% to an all-time high. The boost followed the appearance of one of its dresses in engagement pictures of the popular singer Taylor Swift.

As markets evolve, they reflect broader economic trends and consumer behaviors. Stay tuned to how these developments shape the financial landscape. You can read more about stock market updates and consumer trends at Investopedia.

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