News
High-signal headlines only - macro events, earnings, M&A, regulatory. Listicles and analyst clickbait filtered out by default. Refreshed hourly.
Jerome Powell's successor is about to learn the hard truth that it's impossible to appease President Trump and tackle above-average inflation.
REVIEW PREVIEW NEWSLETTER Record Scratch. The Nasdaq Composite just wrapped its worst day in more than a year. The tech-heavy index sank 4.2%, while the S&P 500 dropped 2.6%, and the Dow Jones Industrial Average fell 695 points, or 1.
<body><p>STORY: Wall Street’s nine-week winning streak came to an abrupt halt on Friday, with the Dow dropping about one-and-a-third percent, the S&P 500 sliding more than 2.6% and the tech-heavy Nasdaq tumbling nearly 4.2%, its largest one-day percentage loss in more than a year.</p><p>Selling was concentrated among chip stocks and other technology favorites that have surged in recent weeks as the Nasdaq and S&P 500 rose repeatedly to fresh highs.</p><p>The Philadelphia Semiconductor Index erased more than $1 trillion in stock market value on Friday, suffering its largest one-day percentage plunge since March of 2020.</p><p>Eric Lynch, managing director and co-portfolio manager of Suncoast Equity Management, said tech stocks tanked due to rate-hike and AI spending concerns.</p><p>"The first factor is the blowout jobs report this morning. That has taken the chances of another Fed cut off the table for 2026. That hits long-duration, most exciting speculative stocks the most. [FLASH] But also there's been grumblings about AI, just some concerns about whether or not the token usage is really translating to great returns. And you've seen some consternation kind of bubbling up."</p><p>Among individual movers, AI chipmaker Nvidia, the largest company by market value, lost more than 6%, while Intel, Micron, AMD and Broadcom all slid between about 8% and 13.5%.</p><p>Shares of Lululemon Athletica slumped about 8.5% after the athletic apparel maker cut its annual profit forecast and projected second-quarter earnings well below Wall Street estimates.</p><p>And a more than 4% drop in bitcoin hit cryptocurrency firms, with shares of Coinbase and Strategy each tumbling about 7%.</p></body>
In the most recent trading session, Shell (SHEL) closed at $85.4, indicating a -1.53% shift from the previous trading day.
In the latest trading session, Cenovus Energy (CVE) closed at $28.22, marking a -5.27% move from the previous day.
VICI Properties Inc. (VICI) concluded the recent trading session at $27.86, signifying a +2.39% move from its prior day's close.
Trane Technologies (TT) closed at $456.84 in the latest trading session, marking a -1.49% move from the prior day.
In the closing of the recent trading day, NXP Semiconductors (NXPI) stood at $295.96, denoting a -8.15% move from the preceding trading day.
In the latest trading session, Sirius XM (SIRI) closed at $27.01, marking a -2.81% move from the previous day.
AeroVironment (AVAV) reached $185.92 at the closing of the latest trading day, reflecting a -9.04% change compared to its last close.
In the latest trading session, Wingstop (WING) closed at $142.23, marking a -1.56% move from the previous day.
ATI (ATI) reached $177.47 at the closing of the latest trading day, reflecting a -2% change compared to its last close.
Southern Co. (SO) concluded the recent trading session at $92.6, signifying a +1.07% move from its prior day's close.
In the closing of the recent trading day, PPL (PPL) stood at $35.74, denoting a +1.65% move from the preceding trading day.
Lightspeed Commerce Inc. (LSPD) concluded the recent trading session at $9.24, signifying a -2.43% move from its prior day's close.
The latest trading day saw Itron (ITRI) settling at $80.07, representing a -1.21% change from its previous close.
Hercules Capital (HTGC) reached $15.28 at the closing of the latest trading day, reflecting a -1.86% change compared to its last close.
Hershey (HSY) concluded the recent trading session at $184.58, signifying a +1.02% move from its prior day's close.
US equity indexes plunged amid a slide in mega-cap chip names and government bonds, as a strong jobs
US stocks (^DJI, ^IXIC, ^GSPC) sink in Friday trading, the Nasdaq Composite leading losses and closing over 1,100 points lower (4.18%). The market is reacting to May's overwhelmingly positive labor data — 172,000 jobs added the US economy vs. estimates of 88,000 — raising investor concerns that the Federal Reserve may be inclined to hike interest rates. Yahoo Finance Markets and Data Editor Jared Blikre breaks down the day's biggest market moves.
Top cryptocurrencies fell Friday, with Bitcoin (BTC-USD) falling below the $61,000 level. The Coi
Energy stocks declined late Friday afternoon, with the NYSE Energy Sector Index and the State Street
US equity indexes plunged as a strong jobs report slashed the odds for interest rate cuts this year,