Stocks go nowhere on laziest trading day since July 4 holiday |
The start of the week was a relative snoozer, with the amount of money changing hands across US exchanges the lowest since the holiday-shortened session on July 3. The S&P 500 and Nasdaq 100 each closed less than 0.1% away from where they ended last week, while the Russell 2000 rose 0.3%.
Consumer discretionary posted the largest advance among S&P 500 sector ETFs with a 0.4% gain, while real estate was at the bottom of the leaderboard with a 0.9% drop.
Gains on the day were led by Dayforce which soared almost 26% after Bloomberg reported that private equity giant Thoma Bravo is in advanced talks to acquire the HR software provider. Declines were led by EQT Corp and Intel which fell 4.4% and 3.7%, respectively. Elsewhere... |
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Meta shares fell 2.3% after the social media behemoth cut the starting price of its upcoming smart glasses with a display to about $800, down from a more expensive price of over $1,000. The company is also facing two government probes over its AI chatbots.
- Shares of Duolingo jumped nearly 13% after the company’s CEO defended its use of AI amid customer backlash. KeyBanc analysts also upgraded the stock to “overweight.”
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First Solar shares jumped 9.7% after UBS named the solar panel maker a top pick, pointing to fresh IRS guidance that largely preserved 2030 tax credits for the industry.
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Novo Nordisk rose 2.6% after the pharma giant cut prices for its weight-loss shots Ozempic and Wegovy, while the latter was also approved by the Food and Drug Administration to treat a liver condition.
- TeraWulf jumped 4.6% after the bitcoin mining company said AI cloud platform Fluidstack exercised its option to expand at the company’s Lake Mariner, New York, data center campus.
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— Luke Kawa, Markets Editor & Nia Warfield, Markets Writer |
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Nvidia teased a “major” GeForce Now update on Monday. Read more. |
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After almost a decade, the makers of “Stranger Things” could be leaving Netflix for Paramount — but the streamer’s core issue is a string of high-cost flops. Read more. |
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US spot ethereum ETFs racked up a new record high of $2.9 billion in inflows last week, extending their streak of positive flows to 14 consecutive weeks, data from SoSoValue shows. Read more. |
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