S&P 500 Rollercoaster: Amazon Tumbles While Monolithic Power Skyrockets (August 2, 2025)

Tech stocks giveth, and tech stocks taketh away.

Amazon's slide drags down the index—because even giants stumble when Wall Street's algorithms get the jitters. Meanwhile, Monolithic Power's surge proves there's always a winner in the chaos (even if it's not your portfolio).

Bonus cynicism: Another day, another reminder that 'diversification' is just finance-speak for 'losing money in multiple sectors at once.'

Key Takeaways

• The S&P 500 dropped 1.6% on Friday, Aug. 1, 2025, after the July jobs report revealed an unanticipated level of pressure on the U.S. labor market.
• Shares of Eastman Chemical plummeted after the maker of specialty chemicals reported year-over-year sales and profit declines. Tech giant Amazon's stock also dropped Friday.
• Monolithic Power released strong quarterly results, with growth across numerous end markets, and shares of the power management chipmaker soared.
  

Major U.S. equities indexes tumbled on the final day of the trading week and the first day of the new month after the latest Bureau of Labor Statistics report showed a lower-than-expected pace of hiring in July.

The data also showed an uptick in the unemployment rate, along with sharp downward revisions to jobs numbers from May and June. The unexpectedly weak numbers suggest that pressure on the labor market could be more intense than previously believed. That could encourage the Federal Reserve to lower interest rates at its upcoming meetings.

The S&P 500 fell 1.6% on Friday, suffering its fourth straight down day as the benchmark index extended its retreat from the record closing high set at the beginning of the week. The Dow ended 1.2% lower, while the Nasdaq dropped 2.2%. Read Investopedia's full daily markets roundup here.

Shares of Eastman Chemical (EMN) plunged 19%, experiencing the heaviest decline of any S&P 500 stock. The provider of specialty chemicals reported second-quarter sales and profits that declined year-over and fell short of analysts' expectations.

Coinbase Global (COIN), operator of the largest U.S. cryptocurrency exchange, posted second-quarter revenue and adjusted earnings before interest, taxes, depreciation, and amortization that fell short of estimates. Transactions revenue as well as subscriptions and services revenue fell from the previous quarter. Coinbase stock, which fell about 17% on Friday.

Although Amazon (AMZN) topped revenue and net income estimates with its second-quarter results, shares of the e-commerce giant slipped 8.3%. Jefferies analysts said growth from the Amazon Web Services cloud computing business was disappointing compared with blowout growth figures from competitor Microsoft (MSFT) and its Azure cloud platform. Other research firms suggested that the pullback in Amazon stock could represent a buying opportunity.

The top daily performance in the S&P 500 belonged to shares of Monolithic Power Systems (MPWR), which surged more than 10%. The power management chipmaker reported sales and adjusted profits for the second quarter that surpassed analysts' expectations, boosted by a strong performance in its storage and computing, automotive, and communication markets.

Shares of Align Technology (ALGN) advanced 5.8% on Friday, clawing back a portion of the losses posted in the prior session. In quarterly results released Wednesday afternoon, the Maker of transparent teeth straighteners and other technological dentistry products reported lower-than-expected sales and profits and announced restructuring measures including workforce cuts.

First Solar (FSLR) reported stronger-than-expected sales and profits for the second quarter, and shares of the panel manufacturer jumped 5.3%. The company also increased its full-year sales forecast, and CEO Mark Widmar said shifts in trade policy have strengthened First Solar's position in the industry.