Happy Thursday afternoon to everyone on The Street. Here's a snapshot of where markets ended the trading session, plus tomorrow's trade idea delivered to you today.

• 🟥 | US stocks ticked down today as the attempted recovery’s momentum slowed.

• 📈 | One Notable Gainer: Shares of Five Below $FIVE ( ▼ 4.55% ) surged after reporting above expectations on the top and bottom lines.

• 📉 | One Notable Decliner: Accenture $ACN ( ▼ 0.57% ) also beat profit forecasts, but its stock still slid as DOGE cuts took a bite of the IT firm’s revenue.

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MARKET MOVERS

Meta, IBM, Darden Restaurants

$META ( ▼ 3.21% ) Meta Platforms: Buy The AI Bloodbath At Just 16x FoA Earnings (SeekingAlpha)

$IBM ( ▼ 0.88% ) It looks like IBM is cutting jobs again, with Classic Cloud hit hard (The Register)

$DRI ( ▼ 1.63% ) Darden Restaurants sales disappoint, but Olive Garden parent sees consumers continuing to spend (CNBC)

$MCHP ( ▼ 2.66% ) Struggling Microchip Technology Moves to Sell Its Arizona Manufacturing Facility (Investopedia)

$JBL ( ▼ 1.73% ) Jabil Q2 Earnings Beat Estimates Amid Cloud And Data Center Growth, Stock Surges On Upbeat Outlook (Benzinga)

OVERHEARD ON THE STREET

CNBC: President Trump’s order to dismantle the US Department of Education is here. What could that mean for student loan borrowers?

Reuters: US existing home sales unexpectedly rose in February as increased supply attracted buyers, though economic uncertainty may limit further growth.

CNN: The EU postponed tariffs on US goods, including whiskey, until mid-April to align with countermeasures against US steel and aluminum tariffs.

Bloomberg: Apple is restructuring its executive ranks to revitalize its AI efforts and address delays and setbacks, particularly with Siri.

AP: Amtrak’s CEO abruptly resigned to ensure continued support from the Trump administration, following discussions on privatizing Amtrak by Elon Musk.

TOMORROW’S TRADE IDEA, TODAY

These Stocks Don’t Care About the Economy

Built to Last

There’s a storm raging on Wall Street — which is why CNBC is adding layers to its “All-Weather Stock List.”

The publication just added several new stocks to its compilating of companies that dominate niche industries, keeping their revenues insulated from the ups and downs of the overall economy. CNBC believes these stocks should allow investors to enjoy gains, regardless of what the market is doing.

Burford Capital

Burford Capital $BUR ( ▼ 0.15% ) made the list. The company specializes in litigation finance, meaning law firms utilize its services to help pay fees, expenses, claims, and judgments.

Deutsche Bank analyst Mark DeVries first brought broader attention to the stock by adding it to his list of buys in uncertain times. According to Devries, the demand for litigation is not tied to business cycles and market performance.  

The analyst also believes that a backlog of legal cases stemming from the pandemic will allow the stock to survive and thrive through the rest of this year.

Service Corporation International

As the old adage goes, the only certainties in life are death and taxes. This stock play revolves around the former. 

Service Corporation International $SCI ( ▼ 0.4% ) is the largest provider of death care products and services in North America, operating in 1,400 funeral homes in 2023. Over the last 15 years, it has only had three down years, the worst of which was a mere 2.6% drop.

A litigation finance firm and funerary services provider might not be as fashionable as a sleek black umbrella. But if CNBC is correct, they could do just as good a job at keeping the rain away.

ON OUR RADAR

BI: NVIDIA $NVDA ( ▼ 1.3% ) shares hit a "death cross" today, a technical signal of a potential downtrend, following the stock’s near-1,000% rally.

Reuters: The US labor market saw a slight increase in jobless claims last week, but remains stable amid a worsening outlook due to rising trade tensions.

CNN: The Boston Celtics were sold for a record-breaking $6B, the highest price for a North American sports franchise.

Quartz: Tesla $TSLA ( ▼ 3.32% ) recalled all Cybertrucks sold in the US due to faulty exterior panels that pose a road hazard, marking its eighth recall since 2023.

CNBC: Retirees turning 73 in 2024 must take their first required minimum distribution by April 1 to avoid a 25% tax penalty.

WEDNESDAY’S POLL RESULTS

Are you bullish or bearish on Ralph Lauren (RL) over the next 12 months?

🟨🟨🟨⬜⬜⬜ 🐂 Bullish

🟩🟩🟩🟩🟩🟩 🐻 Bearish

And, in response, you said:

• 🐻 Bearish — 

  • “Clothing industry is a dog.”

  • “I just don't see it taking off.”

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