By Joe Woelfel, Elsa Ohlen, and Mackenzie Tatananni

Stocks were falling Tuesday after Federal Reserve Chairman Jerome Powell pointed to a weakening labor market and economic outlook alongside elevated prices.

"Two-sided risks mean that there is no risk-free path," Powell said while speaking at an event hosted by the Greater Providence Chamber of Commerce.

These stocks were moving Tuesday:

Nvidia fell 3.1% after rising 3.9% on Monday to close at a record high of $183.61. The chip maker announced it was planning to invest as much as $100 billion in OpenAI, the maker of ChatGPT, to support the buildout of AI data center capacity. The partnership will deploy at least 10 gigawatts of Nvidia AI systems to train and run OpenAI's next-generation AI models. Rival Broadcom was flat following a 1.6% drop on Monday.

Apple was down 0.6%. Shares of the iPhone maker closed Monday's session up 4.3%. Apple has gained just 1.6% this year, lagging behind its Magnificent Seven peers. Wedbush analyst Dan Ives said he expects a rebound in the stock as users upgrade to the iPhone 17, adding that Wall Street was "clearly underestimating this iPhone cycle," as he raised his price target on shares to $310 from $270.

Tylenol-maker Kenvue was up 2.7%. The stock sank to a record low Monday after President Donald Trump claimed autism in children was linked to use of the drug in pregnancy. There is a " lack of new scientific evidence" to support Trump's claims, said Citi analysts in a research note. Kenvue, in an emailed statement to Barron's, said "sound science clearly shows that taking acetaminophen does not cause autism."

Boeing rose 1.2% after Trump said the plane maker received an order from Uzbekistan Airways worth more than $8 billion. Meanwhile, David Perdue, the U.S. ambassador to China, said the U.S. and Beijing were finishing negotiations for a "huge order," though he declined to share details.

Firefly Aerospace was falling 15% after the rocket developer posted its first earnings report since becoming a public company. Second-quarter revenue of $15.5 million fell from $21.1 million a year earlier and missed analysts' expectations of $16.8 million. The company's second-quarter loss widened to $5.78 a share from a loss of $4.60 a year earlier.

Shares of power company Vistra tumbled 5.5% to $206.01. Analysts at Jefferies downgraded Vistra to Hold from Buy and reduced their price to $230 from $241, citing a lack of clarity around a potential hyperscaler deal for Vistra's Comanche Peak nuclear plant. The stock notched record intraday and closing highs on Monday.

Oil-service stocks Halliburton and Baker Hughes rose 6.8% and 3.4%, respectively, as West Texas intermediate crude oil, the U.S. benchmark, gained nearly 2% and was on pace to break a four-session losing streak.

Plug Power, the hydrogen technology provider, was down 3% after jumping nearly 22% on Monday. The stock has closed higher for nine consecutive sessions and has risen 88% over the span, according to Dow Jones Market Data.

Micron Technology was up 1% ahead of its fiscal fourth-quarter earnings report after the closing bell Tuesday. The memory chip maker is expected to post adjusted earnings of $2.86 a share in the period on revenue of $11.2 billion. Shares have gained nearly 98% this year.

AutoZone fell 1.1% after the auto-parts retailer posted fiscal fourth-quarter earnings that missed analysts' estimates. While net sales of $6.24 billion marked an increase from $6.21 billion last year, the number came in slightly below analysts' forecasts.

CoreWeave was down 3% at $129.33. Analysts at Melius Research upgraded shares of the AI cloud-computing company to Buy from Hold and Wells Fargo upgraded CoreWeave to Overweight from Equal Weight and boosted the price target to $170 from $105.

Write to Joe Woelfel at joseph.woelfel@barrons.com and Mackenzie Tatananni at mackenzie.tatananni@barrons.com

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September 23, 2025 15:00 ET (19:00 GMT)

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