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Market Monitor News May 23 (Snowflake, Urban Outfitters UP - SolarEdge Technologies, Sunrun DOWN)

By Kristoff De Turck - reviewed by Aldwin Keppens

Last update: May 23, 2025

Wall Street Calms After Budget Jitters – Green Energy Tumbles, Alphabet Shines

ChartMill Market Monitor News

A Mixed Day on Wall Street

After Wednesday’s sharp sell-off driven by bond market tensions and budgetary fears, U.S. stocks found more stability on Thursday.

Investor nerves were still rattled by the approval of President Donald Trump’s controversial new budget proposal, dubbed the “Big Beautiful Bill”, which advanced through the House by a slim 215–214 margin and now awaits a Senate vote after the Memorial Day recess.

Bond Yields Ease, Markets Catch Breath

A sharp uptick in long-term yields on Wednesday had triggered the recent bout of volatility. However, easing yields offered some relief:

  • 10-year Treasury yield dipped to 4.545%

  • 30-year yield fell to 5.055%

Analysts are keeping a close eye on how the bond market reacts in the coming weeks, especially in light of the disappointing 20-year debt auction and Moody’s recent credit downgrade for U.S. government debt.

Budget Bill: Market Impacts and Investor Concerns

The proposed legislation could increase U.S. government spending by $3.8 trillion over the next decade while cutting only $1 trillion, pushing the budget deficit to 9% of GDP and national debt to 125% of GDP, according to the Congressional Budget Office.

This has amplified fears around fiscal sustainability. Investors may begin doubting the long-term viability of U.S. debt.

Renewable Energy Sector Hit Hard

Clean energy stocks were the biggest losers of the day as Trump's bill proposes an accelerated rollback of tax credits from the Inflation Reduction Act, making it tougher for new green projects to qualify for support.

Solar stocks daily charts

all suffered sharp declines.

Alphabet and Tech Boost Nasdaq

The Nasdaq’s gains were driven by a continued rally in Alphabet (GOOGL | +1.13%), following Wednesday’s 3% surge after the unveiling of AI Mode, a search enhancement that processes longer and more complex queries.

The company also hinted that AI-powered advertising could soon be monetized. Analysts, including Citi’s Ronald Josey, believe the new tool could become a strong revenue driver. Despite recent gains, Alphabet shares are still about 9% below their year-start level.

Alphabet daily chart

Nike Returns to Amazon

Nike (NKE | +2.2%) climbed after announcing a price hike on select products and plans to resume direct sales through Amazon (AMZN | +1.0%) for the first time since 2019. Previously, Nike products on Amazon were only available via third-party sellers.

Amazon, Nike daily charts

Economic Data: Mixed Signals

On the macro front:

  • U.S. manufacturing and services PMIs improved in May, according to S&P Global, suggesting a rebound in business confidence after April’s dip.

  • The Chicago Fed National Activity Index slipped into negative territory in April (-0.25), pointing to slower economic growth.

  • Existing home sales unexpectedly declined, while jobless claims slightly dropped.

Standout Corporate Moves

  • Snowflake (SNOW | +13.6%) soared after strong earnings.

  • Urban Outfitters (URBN | +22.84%) impressed with its quarterly results.

Snowflake, Urban Outfitters daily charts

Oil and Forex

  • WTI Crude Oil dropped 0.6%.

  • The EUR/USD pair hovered near 1.1283.

Outlook

Volatility remains the watchword as investors digest the implications of fiscal expansion and brace for more political drama in Washington.

Meanwhile, tech continues to provide a growth anchor, even as green energy faces renewed policy headwinds.

Next to read: ChartMill Monitor Trends & Breadth Analysis, May 23

NIKE INC -CL B

NYSE:NKE (6/30/2025, 8:04:00 PM)

Premarket: 70.74 -0.3 (-0.42%)

71.04

-1 (-1.39%)


URBAN OUTFITTERS INC

NASDAQ:URBN (6/30/2025, 8:00:01 PM)

After market: 72.54 0 (0%)

72.54

+3.14 (+4.52%)


AMAZON.COM INC

NASDAQ:AMZN (6/30/2025, 8:00:00 PM)

Premarket: 219.02 -0.37 (-0.17%)

219.39

-3.91 (-1.75%)


ALPHABET INC-CL C

NASDAQ:GOOG (6/30/2025, 8:00:01 PM)

Premarket: 176.83 -0.56 (-0.32%)

177.39

-0.88 (-0.49%)


FIRST SOLAR INC

NASDAQ:FSLR (6/30/2025, 8:00:01 PM)

Premarket: 164.35 -1.19 (-0.72%)

165.54

+13.4 (+8.81%)


NEXTERA ENERGY INC

NYSE:NEE (6/30/2025, 8:04:00 PM)

After market: 69.41 -0.01 (-0.01%)

69.42

-1.47 (-2.07%)


SNOWFLAKE INC-CLASS A

NYSE:SNOW (6/30/2025, 8:04:01 PM)

Premarket: 222.15 -1.62 (-0.72%)

223.77

+1.16 (+0.52%)


SOLAREDGE TECHNOLOGIES INC

NASDAQ:SEDG (6/30/2025, 8:00:02 PM)

Premarket: 20.5 +0.1 (+0.49%)

20.4

+0.6 (+3.03%)


SUNRUN INC

NASDAQ:RUN (6/30/2025, 8:00:02 PM)

Premarket: 8.24 +0.06 (+0.73%)

8.18

+0.75 (+10.09%)



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