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Stocks Slide as Record-Setting Run Takes a Breather
Barrons.com90d agoneutral
Stocks Slide as Record-Setting Run Takes a Breather

Stocks tumbled at the open on Friday, pulling back from record levels after meetings between President Trump and China's leader Xi Jinping ended without a clear messaging of what’s to come. The Dow was down 408 points, or 0.8%, while the S&P 500 fell 1.1%, and the Nasdaq was down 1.6%. “We often get more market moving social media posts in the middle of the night than we got as part of this historic meeting,” wrote Peter Tchir, Head of Macro Strategy at Academy Securities.

The Stock Market Rally Faces a Stark Reality. Things Could Get Tricky.
Barrons.com90d agobullish
The Stock Market Rally Faces a Stark Reality. Things Could Get Tricky.

The roaring U.S. stock market, powered by bets on tech and artificial intelligence that has lifted indexes to a series of record highs over the past six weeks, may have finally found a challenge it can’t easily overcome. Benchmark 10-year Treasury note yields jumped more than five basis points in overnight trading, pegging the paper at 4.535%, the highest in nearly a year.

Bill Ackman's Pershing Square Takes a Stake in Microsoft
The Wall Street Journal90d agoneutral
Bill Ackman's Pershing Square Takes a Stake in Microsoft

Bill Ackman announced on social media that his hedge fund Pershing Square will disclose a new position in Microsoft in a 13F filing with regulators today. Microsoft has been an outlier in the tech trade that has carried markets higher this year. "We began building our position in MSFT in February following a meaningful share price decline after the company reported its fiscal Q2 2026 results," Ackman wrote in a post on X. "We were able to establish our position at a valuation of 21 times forward earnings, broadly in line with the market multiple and well below Microsoft's trading average over the last few years."

Stock Futures Drop as Higher Yields and Oil Prices Spook Markets
Barrons.com90d agoneutral
Stock Futures Drop as Higher Yields and Oil Prices Spook Markets

Stocks looked set to fall on Friday as investors fretted about soaring Treasury yields and President Donald Trump’s summit with China's leader Xi Jinping concluded without any meaningful breakthrough on trade. “For some time, analysts have been puzzled by equity markets’ resilience in the face of rising bond yields and clear inflationary pressures,” said Kathleen Brooks, research director at the foreign-exchange brokerage XTB. “Today we may see the pressure of rising bond yields start to weigh on equities, and futures prices suggest that U.S. indices will pull back from record highs later today and could close the week on a dampener.”

Cerebras Soars — Heard on the Street Thursday Recap
The Wall Street Journal90d agobullish
Cerebras Soars — Heard on the Street Thursday Recap

President Trump and Chinese leader Xi Jinping agreed Iran shouldn't control the waterway. The S&P 500 rose 0.8%, and the Nasdaq Composite jumped 0.9%. Shares of Cerebras Systems priced at $185 in their public offering and opened trading at $350 on Thursday.

Wall Street ends higher on tech rally; Cerebras soars in market debut
Reuters Videos91d agobullishVIDEO
Wall Street ends higher on tech rally; Cerebras soars in market debut

<body><p>STORY: U.S. stocks rallied on Thursday, with the Dow and S&P 500 each gaining about three-quarters of a percent, and the Nasdaq climbing nearly nine-tenths of a percent.</p><p>The Dow recaptured its position above the 50,000 mark, ending just shy of its all-time closing high. The S&P 500 posted its first close above 7500, and the Nasdaq also notched another record high close.</p><p>The market boost came largely from - what else? - AI-related tech stocks, including a blowout IPO from chip designer Cerebras, which jumped 68% in its U.S. market debut.</p><p>But Bob Lang, founder and chief options analyst at Explosive Options, warned that the enthusiasm could portend a sharp market selloff.</p><p>"I think right now with markets at all time highs, the Nasdaq pushing through around 30,000, the Dow about 50,000, again, you're going to hear all these headlines coming out in the news talking about these milestones. And it creates a wall of worry. And the wall of worry is that, you know, people on the sidelines are saying, ‘Hey, look, I got to get myself back in the game over here.' Well, it's those moments that tell us that we're probably closer to a correction or a severe pullback more than anything, because it's the last people who come in are going to create that last hop in the market."</p><p>Among other stock moves, shares of Cisco Systems surged more than 13% to touch an all-time high after the computer networking giant announced almost 4,000 job cuts as part of a restructuring scheme, and raised its annual revenue forecast.</p><p>U.S.-listed shares of AI infrastructure firm Nebius Group rose more than 6.5% after Northland Capital raised its target price to $248 per share.</p><p>And shares of AI chip leader Nvidia gained nearly 4.5% after the U.S. cleared the sales of the company's H200 chips to Chinese firms.</p></body>