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Nasdaq Futures Follow Tumble in South Korea's KOSPI Index
Barrons.com29d agobearish
Nasdaq Futures Follow Tumble in South Korea's KOSPI Index

The KOSPI Composite Index fell 6.4%, which signals it could be a rough day for tech stocks. Chip stocks specifically had a rough go of it, which makes sense given the semiconductor industry's ties to Asia. Nasdaq futures were down 1% ahead of Thursday's opening bell.

Baidu advances Hong Kong dual primary listing plans, shares climb (BIDU)
InvestorsHub29d agoneutral
Baidu advances Hong Kong dual primary listing plans, shares climb (BIDU)

Baidu (NASDAQ:BIDU) shares gained around 4% in premarket trading after the Chinese technology company announced plans to convert its Hong Kong listing into a dual primary listing, a move aimed at strengthening its presence in both Asian and US capital markets. Board approves listing conversionThe company’s board of directors has approved a proposal to voluntarily transition to a dual primary listing on the Main Board of the Hong Kong Stock Exchange.

Magnificent Seven Stocks Rise Even as Tech Flounders
Barrons.com29d agoneutral
Magnificent Seven Stocks Rise Even as Tech Flounders

Tech stocks looked set to struggle on Thursday as the artificial-intelligence trade ran out of steam, but some of the U.S.'s blue-chip names were still catching a bid ahead of the opening bell. Roundhill's Magnificent Seven exchange-traded fund, which tracks the price of seven mega-cap stocks, climbed 0.

Nasdaq Futures Fall as AI Trade Loses Steam
Barrons.com29d agobearish
Nasdaq Futures Fall as AI Trade Loses Steam

Stocks were on track to slide Thursday as the artificial-intelligence trade lost some momentum, with investors opting to take profit even though the broader macroeconomic environment is looking good for the market. Nasdaq 100 futures dropped 0.6%. Investors are questioning how long the AI boom will last–but still finding plenty of places to put their money in the market.

Asian stocks mostly sink as AI worries hammer tech
AFP30d agobearish
Asian stocks mostly sink as AI worries hammer tech

Most Asian stocks sank on Thursday as tech firms came under renewed pressure from worries over the AI boom, with Seoul again taking the brunt of the selling, while oil prices rose further as the US and Iran continued to trade strikes.The readings soothed market worries that the Fed would hike borrowing costs this month, though analysts warned that the renewed hostilities, which have seen the US and Iran trade strikes for around a week, could undo the good work.

Review & Preview: Losing Momentum
Barrons.com30d agoneutral
Review & Preview: Losing Momentum

Schadenfreude is a beast—and momentum investors are on the receiving end now. Momentum, the practice of buying the market’s best-performing stocks based on the premise they will stay the best performers, is a wonderful investing strategy when it’s working in your favor. The returns are fantastic—the Invesco S&P 500 Momentum exchange-traded fund has returned 42% a year for the past three years, more than double the SPDR S&P 500 ETF’s 20% annual return.

Wall St ends higher on cool inflation data, strong earnings
Reuters Videos30d agoneutralVIDEO
Wall St ends higher on cool inflation data, strong earnings

<body><p>STORY: U.S. stocks closed higher on Wednesday, with the Dow gaining more than a quarter of a percent, the S&P 500 adding over a third of a percent and the Nasdaq climbing more than six-tenths of a percent.</p><p>A second day of solid bank earnings added momentum to an auspicious beginning to second-quarter reporting season.</p><p>BlackRock and Morgan Stanley both beat quarterly profit expectations, with shares of BlackRock advancing over 6.5% and Morgan Stanley also ending higher.</p><p>Strong earnings combined with more cooler-than-expected inflation data, in the form of June wholesale prices, helped lift stocks, says Melissa Brown, managing director of investment decision research at SimCorp.</p><p>"We saw some good earnings from the financial companies. And, you know, on top of that, there's just still the same buzz around the AI trade, around what's happening with semiconductors. And there's, we haven't really seen a lot of bad news. The inflation news has been better than expected, although I would argue still not good. So inflation is still higher than the Fed's target, even though it has come in a little bit lower than expected. But I think, you know, kind of all those things are conspiring to make it a good but not blowout day today."</p><p>Among the session's other stock moves, PayPal surged more than 17% after sources told Reuters that Stripe and private equity firm Advent International have jointly offered to acquire it.</p><p>And shares of United Airlines dipped in extended trading despite the carrier saying it expected full-year profit at the high end of its prior forecast, as the company's third-quarter outlook was short of Wall Street expectations.</p></body>