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FEATURE The artificial-intelligence rally may be grinding to a halt. Technology stocks were getting hit hard on Thursday after mediocre revenue guidance from Broadcom caused investors to question how fast AI demand will accelerate.
Wall Street futures pointed largely lower pre-bell Thursday after chipmaker Broadcom (AVGO) issued t
High-flying tech stocks were struggling on Thursday after Broadcom's so-so revenue guidance failed to impress investors. Futures tracking the Nasdaq 100 were 1.1% lower as the tech-heavy index lagged behind both the S&P 500 and Dow Jones Industrial Average.
Stocks looked set to slide again on Thursday after chip maker Broadcom’s third-quarter revenue guidance failed to wow Wall Street, reigniting some worries about how fast AI demand will accelerate. Futures tracking the S&P 500 declined 0.4%, and contracts tied to the tech-heavy Nasdaq 100 fell 1.0%.
U. S. equity futures traded in mixed territory on Thursday as investors balanced renewed diplomatic developments in the Middle East against corporate news from major technology companies and the upcoming public debut of SpaceX.
The central bank's predictability, which Wall Street holds dear, may soon be a distant memory.
Partners Group shares slid 16% after the Swiss-based private-equity firm limited redemptions from a flagship private-markets fund. That sparked more worries about the health of the sector in general, driving stocks like KKR, Blackstone and Blue Owl down around 4% on Wednesday.
Stocks sank Thursday after a disappointing forecast by chip giant Broadcom stoked concerns about the AI trade, while stronger-than-expected US data compounded speculation the Federal Reserve could hike interest rates.Speculation is rising that a strong reading -- which would compound the war-fuelled spike in inflation -- could put more pressure on the Fed to hike rates.
By Gregor Stuart Hunter SINGAPORE, June 4 (Reuters) - Asian stocks fell at the start of trading on Thursday as renewed fighting between the U.S. and Iran rattled stocks, even as conflicting signs of
Iran's paramilitary Revolutionary Guard said it had targeted the headquarters of the U.S. Navy's 5th Fleet in Bahrain, derailing U.S.-Iran ceasefire talks.
<body><p>STORY: Wall Street's main indexes tumbled on Wednesday, with the Dow losing about 1.2%, the S&P 500 shedding about three-quarters of a percent and the Nasdaq falling roughly nine-tenths of a percent.</p><p>Flaring tensions in the Middle East and rising crude prices stoked inflation jitters and convinced investors to take some profits.</p><p>Energy stocks, buoyed by oil prices, enjoyed the largest percentage gains, with Exxon Mobil and Chevron both closing higher. </p><p>Meanwhile, six of the Magnificent Seven group of megacap tech stocks ended lower, with Meta the only exception.</p><p>Liz Miller is founder and president of Summit Place Financial Advisors.</p><p>"I more and more just keep seeing this market as a ping pong. One day we've got the momentum leading tech stocks up and then that drives all the indices up. And the next day we've got sort of the second tier undervalued companies up and the index is down. [FLASH] Today's again, one of those days where we're seeing energy with the most strength. We're seeing some of the consumer come through, some of the industrial, but techs are marginally down. And that's what I mean when I think about this market as a ping pong market, because these are high quality companies, they're large cap, they would be top tier fundamentally, but they haven't really participated as much in the index strength."</p><p>Among individual movers, shares of GameStop jumped 6% after the original meme stock posted a rise in quarterly revenue and unveiled a $2 billion share buyback program.</p><p>Shares of Crowdstrike, down nearly 3% at the close, dropped about another 10% in extended trading after the cyber security company reported a 15% jump in its first-quarter operating expenses as it ramps up investments in AI and product development.</p><p>And shares of Broadcom fell more than 6% in extended trading despite the company forecasting third-quarter revenue above Wall Street expectations, betting on robust demand for its custom AI chips and networking gear.</p></body>
US stock futures slipped as doubts about President Trump's ability to end the war with Iran rattled Wall Street.
US stock futures slipped as doubts about President Trump's ability to end the war with Iran rattled Wall Street.
US stock futures slipped as doubts about President Trump's ability to end the war with Iran rattled Wall Street.
US stock futures slipped as doubts about President Trump's ability to end the war with Iran rattled Wall Street.
US stock futures slipped as doubts about President Trump’s ability to end the war with Iran rattled Wall Street.
In the most recent trading session, M/I Homes (MHO) closed at $135.93, indicating a -1.81% shift from the previous trading day.
Steel Dynamics (STLD) reached $275.13 at the closing of the latest trading day, reflecting a +1.37% change compared to its last close.
In the latest trading session, Lennar (LEN) closed at $89.46, marking a -1.58% move from the previous day.
RH (RH) concluded the recent trading session at $152.45, signifying a -2.36% move from its prior day's close.
In the latest trading session, Waste Management (WM) closed at $218, marking a +2.86% move from the previous day.
In the most recent trading session, D.R. Horton (DHI) closed at $144.5, indicating a -2.31% shift from the previous trading day.
The latest trading day saw Interactive Brokers Group, Inc. (IBKR) settling at $87.15, representing a -1.77% change from its previous close.
Intuitive Surgical, Inc. (ISRG) reached $407.29 at the closing of the latest trading day, reflecting a +1.24% change compared to its last close.