US stocks jump, Nasdaq 100 posts record close |
Risk appetite is back as Middle East tensions look to be getting farther and farther away in the rear-view mirror of your robotaxi. The Nasdaq 100 closed up 1.5% to hit a fresh closing high for the first time since February, the S&P 500 rose 1.1%, and the Russell 2000 gained 1.3% on the day.
Uber leapt over 7%, helping lead gains, after the ride-hail giant announced a partnership with Waymo to offer autonomous rides in Atlanta. Occidental Petroleum and defense names Northrop Grumman and Lockheed Martin were among the decliners, each falling more than 2% as geopolitical tensions began to cool.
Elsewhere… |
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A basket of retail darlings that includes Coinbase, Broadcom, Nvidia, and GameStop hit its first intraday and closing record high since November 2021 as traders doubled down on the basket of AI and crypto-adjacent plays.
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Carnival sailed up 7% after posting record Q2 earnings and raising its full-year guidance as cruise bookings stay strong going into next year.
- Intel popped 6% after the chipmaker said it would sunset its architecture automotive group and lay off "most" employees in the division.
- Lyft shares rose 6% after TD Cowen upgraded the stock to “Buy” and lifted its price target to $21, or around 40% above its current trading levels.
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Micron shares rose nearly 5% a day before the chipmaking giant is set to release its third-quarter earnings results.
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Fiserv and Mastercard were up 1.2% and 2.8%, respectively, after announcing a partnership to integrate the FIUSD stablecoin into a range of Mastercard products and services.
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Teladoc ticked up 1.3% after jumping 15% Monday on a bullish note from Citron Research, which called the stock a “coiled spring.”
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— Luke Kawa, Markets Editor & Nia Warfield, Markets Writer |
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Retail traders are back on top with basket of favorites at record |
Megacap tech, crypto, and GameStop are all on the rise. Read more. |
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Production was supposed to start by the end of June, but there’s been no word on development and Tesla has been releasing more expensive models instead. Read more. |
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(Kevin Carter/Getty Images)) |
FedEx tumbles on disappointing guidance after posting strong earnings amid peak tariff fears
FedEx slumped after the company issued a gloomy outlook for the current quarter and a shrug emoji for the year as a whole. Read more. |
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Why Ives says a defanged Iran is extra bullish for tech stocks
“The potential ‘black swan event’ was Iran and its nuclear program... and now that threat is gone,” Wedbush Securities analyst Dan Ives says. -
Stephen Miller, top Trump aide, discloses Palantir stake
It’s yet another linkage between the stock — the best performer in the S&P 500 this year — and the administration.
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With almost 8,500 hotels around the world, Hilton is getting into cruises
The hospitality giant’s property portfolio has doubled in just over a decade. -
Amazon expands same-day shipping to over 4,000 rural towns in massive delivery push
The e-comm giant plans to triple its delivery network by 2026 and is zeroing in on everyday essentials. -
Hims & Hers crash is just another opportunity for retail to buy the dip
Over the past five days Hims has been one of the most-bought securities on Interactive Brokers.
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Microsoft is planning its fourth major round of Xbox layoffs since January 2024
The news comes after Microsoft last month raised the price of Xbox consoles by $100 in the US.
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Polymarket on the verge of $200 million fundraise for $1 billion valuation
The crypto-based prediction market is also planning to return to the US. -
Hut 8 doubles bitcoin-backed credit facility with Coinbase and gets a lower borrowing rate, too
Hut 8 shares rose 8.5% today, while Coinbase shares were up 12%.
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Judge rules Anthropic training on books it purchased was “fair use,” but not for the ones it stole
Anthropic still faces litigation for training its models on millions of pirated texts. -
Amazon building 30 data centers in Indiana running its custom chips to power Anthropic AI
The sprawling 2.2-gigawatt facility is part of Amazon’s “Project Rainier” mega data center plan, and will provide massive computing resources for Anthropic.
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Microsoft is pushing Copilot, but everyone just wants ChatGPT
Tensions are reportedly running high between Microsoft and OpenAI, straining their $14 billion partnership. Microsoft’s enterprise customers are choosing ChatGPT over Copilot.
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