Stocks Sink as AI Darling Drags Broader Sentiment

AI darling Oracle (ORCL) is helping drive markets lower this afternoon after Rothschild & Co. Redburn initiated covering with a "sell" rating, overshadowing a cooler-than-expected weekly jobs report. Jobless claims for last week came in below expectations at 218,000 -- it's lowest level since mid-July -- pushing the 10-year Treasury yield higher. The tech-heavy Nasdaq Composite (IXIC) is sporting a triple-digit deficit, while the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) also sit comfortably in the red.

Continue reading for more on today's market, including:

• New "neutral" rating cuts Oklo stock's rally short. 
• Second-quarter setback stings CarMax stock.
• Plus, China-based car stock options pop; the best stock on the NYSE today; and slow demand dings EV parts maker.

China-based EV manufacturer Xpeng Inc (NYSE:XPEV) is seeing a surge of attention in the options pits. Last seen up 5.7% to trade at $22.49, the equity is trading at its highest mark in a month, adding to its already impressive, 90% 2025 gain. Though the catalyst is unclear, 61,000 calls and 6,978 puts have crossed the tape so far, 5 times the average daily pace. Most popular is the weekly 9/26 23-strike call, followed by the January 2027 35-strike call, with positions being opened at both. 

The best stock on the New York Stock Exchange (NYSE) today is MP Materials Corp (NYSE:MP), last seen up 14.3% to trade at $81.55, after the equity's price target was hiked to $90 from $85 by Jefferies. The brokerage said it expects MP Materials to evaluate further downstream or in adjacent manufacturing capabilities." Today's surge has MP pressuring its mid-August record peak of $82.50 and sporting a whopping 424% year-to-date gain.

Slowing EV demand is dragging parts maker Jabil Inc (NYSE:JBL) on the NYSE today, with the shares last seen off 6.5% at $211.01. The company is brushing off a fiscal fourth-quarter beat, but remains 46% higher in 2025. JBL is pacing for its worst day since April 3, but looks to have the round $200 looming as support below.