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Ferrari Red — Heard on the Street Tuesday Recap
The Wall Street Journal84d agoneutral
Ferrari Red — Heard on the Street Tuesday Recap

Micron Technology and ON Semiconductor were the top gainers in the S&P 500, rising 19% and 9.3% respectively. Bonds rose and oil prices were mixed as the outcome of Iran negotiations remains unclear. The 10-year Treasury yield declined 0.080 percentage point to 4.490%.

Stock Futures Rise as Market Bids to Extend Record Rally
Barrons.com84d agobullish
Stock Futures Rise as Market Bids to Extend Record Rally

S&P 500 futures added 0.1% and contracts tied to the tech-heavy Nasdaq 100 also climbed 0.1%. Both the S&P 500 and the Nasdaq hit records the previous session, powered higher by memory-chip maker Micron Technology and flash-memory product supplier Sandisk. The Dow closed in the red, spoiling the blue-chip index’s 130th birthday.

Goldman Sachs gives harsh warning on market concentration
TheStreet84d agoneutral
Goldman Sachs gives harsh warning on market concentration

Goldman Sachs is sounding the alarm on what it sees as a dangerous concentration in the artificial intelligence-driven stock market rally. In a May 15 report, Goldman Sachs strategist Ben Snider said the S&P 500 has climbed 10% this year, but the gains have become heavily concentrated in ...

S&P 500, Nasdaq, hit record closing highs on AI optimism
Reuters Videos84d agoneutralVIDEO
S&P 500, Nasdaq, hit record closing highs on AI optimism

<body><p>STORY: It was a mostly upbeat Tuesday on Wall Street, despite a slight move downward for the Dow. The S&P 500 climbed about six-tenths of a percent and the tech-heavy Nasdaq added roughly 1.2%, with both indexes closing at record highs.</p><p>AI-fueled optimism offset concerns over Middle East peace talks, which were compounded by recent U.S. strikes on Iran.</p><p>:: Micron</p><p>Semiconductor stocks continued to lead the charge, with Micron Technology soaring 19%, hitting $1 trillion in market value for the first time after UBS more than tripled its price target on the stock.</p><p>But Matt Stucky, chief portfolio manager for equities at Northwestern Mutual Wealth Management, finds the narrowness of market gains concerning.</p><p>"Just to paint a picture of the contrast in the markets from pre-Iran conflict to post, if you look through the market for the first couple of months this year, 65% of companies were outperforming the index. Since the conflict commenced at the end of February, just 24% of companies are outperforming the S&P 500. [FLASH] Any time you see a market that becomes more narrow, as a portfolio manager, as an investor, you start to question the longevity and resilience of that market."</p><p>Sticking with chip makers, shares of Qualcomm rose almost 4.5% after Bloomberg News reported the company reached a deal with TikTok owner ByteDance to supply chips.&nbsp;</p><p>Elsewhere in the market, shares of AutoZone tumbled nearly 9% - despite the company reporting quarterly profit and revenue that beat estimates - as higher costs and inventory investments continued to pressure margins.</p></body>