US stocks drop for second straight day |
US stocks opened higher before quickly falling into the red, where they stayed for most of the session. The S&P 500 and Nasdaq 100 gave back 0.3% while the Russell 2000 underperformed with a 0.9% drop. Energy was the best-performing S&P 500 sector ETF, while materials and consumer discretionary were at the bottom of the leaderboard.
Centene and Mosaic were among the day’s bright spots, jumping 5.8% apiece. Freeport-McMoRan led declines, sinking 17% after the mining giant declared force majeure at its Grasberg mine in Indonesia and said it expects lower copper and gold sales. Elsewhere... |
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UniQure soared over 240% after the pharma company released trial results that showed its experimental gene therapy for Huntington’s disease slowed its progression by 75% after three years.
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Alibaba jumped over 8% after the Chinese tech giant announced plans to upsize its investments in AI, a partnership with Nvidia, and its new AI model series Qwen3-Max.
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RedCloud Holdings leapt nearly 63% after the UK-based business-to-business platform announced that “it has joined the NVIDIA Connect program as part of its mission to deliver a new operating system for global trade.”
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Shares of Opendoor reversed course, soaring almost 16% after sinking on Monday and Tuesday as one of the company’s largest shareholders, Access Industries, looks to be in the process of exiting its position in the stock.
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Canopy Growth rallied 8.8% after the cannabis company’s CEO, Luc Mongeau, disclosed an unplanned stock purchase of 27,469 shares on Tuesday.
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Lucid rose more than 3% after the EV maker delivered its first Uber robotaxi (of 20,000) and saw a stock price target bump to $26 from $20 by Cantor Fitzgerald.
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Micron fell 2.8% even after the chipmaker announced strong Q4 results after the bell Tuesday and provided profitability guidance for the current quarter that exceeded Wall Street’s expectations.
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Oracle dipped 1.8% even as the cloud giant announced late Tuesday that it would join OpenAI and SoftBank in expanding Project Stargate with five new AI data center sites.
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— Luke Kawa, Markets Editor & Nia Warfield, Markets Writer |
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A theoretical $100 invested into BBW stock at the start of 2021 would be worth ~$1,600 today — about $200 more than the theoretical value of the same amount of Nvidia stock. Read more. |
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In an industry first, customers can now get insulin, Ozempic, and other GLP-1s as part of their usual grocery delivery. Read more. |
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Meta’s Instagram now has 3 billion monthly active users, according to CEO Mark Zuckerberg, up a billion from the last time it reported that number in 2022. Since then, the company has stopped regularly breaking out user numbers for its individual properties, as overall growth slowed.
Read more. |
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- Momentum stocks sputter, weighing on markets
Recent retail favorites like Rocket Lab, Hims & Hers, Palantir, Oklo and SoundHound AI — all members of Goldman Sachs’ thematic basket of “high beta momentum stocks” — were in the red on the day.
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Uber wants customers to bulk buy rides, restaurants to batch cook value meals
The company is already making more trips and deliveries than ever. -
Disney+ has gone from one of the cheapest to one of the most expensive streaming services
Since Disney+ launched in 2019, its price has gone up 172%. A combined Disney+ and Hulu app paves the way for future price increases. -
GM rose following upgrade, report that Trump administration seeks stake in its lithium mine partner
The Trump administration is said to be in talks to take a 10% equity stake in Lithium Americas, GM’s partner in its Thacker Pass lithium mine.
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Report: Nvidia may lease its chips to OpenAI as part of deal
Leasing Nvidia’s chips would lower the cost of OpenAI’s data center blitz and protect against obsolescence in a rapidly evolving field. -
Bitcoin’s price finally breaks past $113,000 but ETFs continue to bleed
“Once bitcoin slipped through key price levels, stop-losses and liquidations snowballed against relatively thin liquidity, which amplified the move,” according to Wave Digital Assets CEO David Siemer.
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American music artists dominate both US and international charts
Still, countries like India, Italy, and Japan overwhelmingly listen to songs from homegrown artists. -
Brazilian OranjeBTC becomes South America’s largest bitcoin treasury
Adam Back and the Winklevoss brothers have backed the company, which plans to go public via a reverse IPO.
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