Krispy Kreme Jumps 39.4% After Announcing McD's Deal

Wall Street slipped a bit further from its record heights on Tuesday.

• The S&P 500 fell 14.61 points, or 0.3%, to 5,203.58 for its third straight modest drop.
• The Dow Jones Industrial Average fell 31.31 points, or 0.1%, to 39,282.33.
• The Nasdaq composite fell 68.77 points, or 0.4%, to 16,315.70.

Stock indexes were up for much of the day, thanks to gains for Tesla, which rose 2.9%, and other Big Tech stocks. But a late-day drop for Nvidia, which fell 2.5%, ended up helping to pull the overall market lower.

Trump Media and Technology Group jumped 16.1% in its first day of trading under the ticker symbol that uses Donald Trump's initials. The company took the place of a shell company that had been trading on the Nasdaq after the two merged. At one point soon after trading began Tuesday, it was up more than 50%, CNBC reports. The stock's price has shot well beyond what several experts say is reasonable, driven by excitement about Trump's latest run for the White House, the AP reports. Truth Social, the platform that's the company's main asset, is losing money and expects to continue to do so while competing against rivals with many more users.

Krispy Kreme jumped 39.4% after it announced a deal where McDonald's restaurants will sell its doughnuts across the country. It will begin later this year and hopes to be nationwide by the end of 2026. Another food company, McCormick, climbed 10.5%. The seller of spices, hot sauces, and seasonings reported stronger profit for the latest quarter than analysts expected. It also said its business looks strong, with sales growth for the year looking to come in at the high end of its projections. (More stock market stories.)