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Fidelity New Millennium Fund

FMILX · NASDAQ

Market closed$74.73$-0.870010 (-1.15%)

Key statistics

Previous close$75.60
Open$74.73
Day high$74.73
Day low$74.73
52-week high$77.81
52-week low$62.87
Market cap6.08B
Volume—
Average volume—
P/E ratio—
Forward P/E—
EPS—
Dividend yield0.00%

Market context

Why it moved

FMILX declined today likely due to broad market selling pressure and weakness in growth-oriented holdings within the fund, as investor sentiment softened amid ongoing uncertainty in equity markets.

Fintel

What is happening

Recent company-specific developments and publisher coverage.

July 17, 2026Fidelity New Millennium Fund closed down 2.24%, underperforming the broader financial services sector as a tech-led selloff rippled through equity markets. The Nasdaq fell sharply on the day, dragged by a semiconductor-driven rout following TSMC's spending forecast, which spooked chip investors and weighed on growth-oriented holdings. Despite a broadly strong Q2 earnings season for Wall Street — with Goldman Sachs, JPMorgan, BofA, BlackRock, and BNY all beating estimates on surging trading and investment banking revenues — escalating Middle East tensions and AI disruption concerns triggered defensive repositioning and broad market weakness.

-2.237

July 16, 2026Fidelity New Millennium Fund closed modestly lower, slipping alongside a broader retreat in financial stocks as tech sector weakness dragged on Wall Street. Despite a strong Q2 earnings backdrop — with Goldman Sachs, BlackRock, and major banks reporting blowout results driven by record trading revenue and surging M&A activity — the fund gave back ground as the Nasdaq finished lower on global tech weakness. The financial services sector ETF (XLF) held near 52-week highs, underscoring the underlying strength in financials even as FMILX pulled back.

-0.8004

July 15, 2026Fidelity New Millennium Fund closed essentially unchanged as the broader financial services sector rallied on a blockbuster Wall Street earnings season. BlackRock surpassed Q2 estimates with iShares hitting $6 trillion in AUM, Goldman Sachs posted record equities revenue up 72% and investment banking fees up 55%, and Morgan Stanley's client assets topped $10 trillion — a broadly positive backdrop for asset managers. The XLF financials ETF traded near its 52-week high, though Morningstar noted AI disruption concerns and private credit cracks have weighed selectively on financial stocks, creating a mixed environment for diversified fund performance.

-0.0523

July 14, 2026Fidelity New Millennium Fund edged modestly lower, mirroring a mixed but broadly resilient session for financial services. The backdrop featured strong Q2 earnings from major Wall Street banks — JPMorgan posted a record quarterly profit and Goldman Sachs beat estimates on a trading and dealmaking surge — which provided support for the broader asset management sector. However, investor sentiment remained cautious amid escalating US-Iran tensions, a renewed Strait of Hormuz disruption pushing oil prices higher, and lingering concerns about elevated market valuations and Fed rate-hike risks heading into the heart of earnings season.

-0.353

July 13, 2026Fidelity New Millennium Fund declined alongside a broadly risk-off session, as renewed U.S.-Iran military exchanges sent oil prices surging 4-5% and weighed on equity markets. Investor attention is also turning to the start of Q2 earnings season, with major banks reporting Tuesday, while Morningstar flagged financial services as the second-worst-performing sector over the past year, citing concerns over AI disruption and cracks in private credit.

-1.3189

July 9, 2026Fidelity New Millennium Fund edged higher as the S&P 500 stabilized amid ongoing U.S.-Iran tensions that have rattled broader markets this week. Investor focus is squarely on the approaching Q2 earnings season, with major banks—JPMorgan, Bank of America, Citigroup, and Wells Fargo—set to report on July 14, and S&P 500 earnings growth projected at +24% year-over-year. The financial sector has broadly outperformed recently, with UBS maintaining a constructive outlook on bank stocks driven by strong capital markets, loan growth, and regulatory easing, even as rising oil prices and inflation concerns add macro uncertainty.

0.8826

June 25, 2026Fidelity New Millennium Fund closed essentially unchanged, holding steady as broader financial markets navigated a volatile week. After a sharp tech-driven sell-off mid-week — the Nasdaq dropped nearly 3% on Tuesday amid AI valuation concerns and a global semiconductor rout — sentiment shifted Thursday on blowout earnings from Micron Technology and Qualcomm, helping lift futures and stabilize equities. The Financial Select Sector ETF (XLF) edged up in after-hours trade, while the S&P 500 settled near 7,357, well off recent highs, as investors weighed rising Fed rate-hike expectations, easing oil prices tied to US-Iran deal progress, and a resilient but cautious macro backdrop.

0.1066

June 24, 2026Fidelity New Millennium Fund closed down nearly 2%, reflecting broad pressure on asset managers as the financial sector absorbed a turbulent week. Peer BlackRock fell over 3% on the day amid equity market volatility, AUM headwinds, and insider selling concerns, while the broader S&P 500 extended its volatile stretch following a sharp AI-driven tech selloff earlier in the week. The Financial Select Sector ETF (XLF) also retreated, closing well off its daily high, as shifting rate expectations — with Bank of America now forecasting three Fed rate hikes this year — weighed on the sector. The Federal Reserve's annual stress test released today showed banking sector resilience, offering some structural support, but broader risk-off sentiment and tech-led market instability continued to drag on diversified, equity-heavy funds.

-1.9893

Peers

S&P 500SPX · $7,457.69-1.01%Fidelity Asset Manager 85% FundFAMRX · $33.94-0.76%Fidelity Stock Selector Small Cap FundFDSCX · $51.21-0.19%Fidelity International Small Cap FundFTISX · $37.76-0.89%Goldman Sachs Absolute Return Tracker FundGJRTX · $11.29-0.53%Goldman Sachs Absolute Return Tracker FundGSRTX · $11.11-0.54%