S&P 500 and Nasdaq 100 end the week with fresh record closing highs |
Another day, another record high for US stocks. The S&P 500 and Nasdaq 100 rose 0.5% and 0.7%, respectively, on Friday. There was no trifecta of records this time around, though, as the Russell 2000 gave back some of Thursday’s mammoth gains with a 0.8% decline. Tech was the best-performing S&P 500 sector ETF, while energy was at the bottom of the leaderboard. Gains on the day were led by Paramount Skydance which popped 5.8% following reports that Warner Bros. Discovery's bid for the media giant will range between $22 and $24 per share. Declines were led by DexCom which fell 11% after the medical device maker was the target of a short report by Hunterbrook Media. Elsewhere…. |
- Rigetti Computing and D-Wave Quantum were up 15% and 11.9%, respectively, as speculative small-cap names beloved by retail traders basked in renewed Fed rate-cut optimism.
- FedEx rose 2.4% after the courier giant delivered better-than-expected fiscal Q1 results and got a price-target boost from TD Cowen.
- Micron fell 3.7%, snapping a record 12-session rally that had been fueled by a drumbeat of positive news around its AI data center expansion.
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— Luke Kawa, Markets Editor & Nia Warfield, Markets Writer |
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More people went to Apple’s website when preorders for the new iPhone began than have since 2022. Read more. |
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Opendoor’s retail shareholders on why they’re long the stock and what the new management team needs to do. Read more. |
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- We’re about to enter the historically worst week of the year for US stocks
Next Monday marks the start of the 39th trading week of the year. That’s historically been the worst week for the S&P 500, based on data going back to 1990.
- Who is winning the GLP-1 race?
It’s hard to keep track of all the next-gen GLP-1s in the pipeline, but we tried our best. - Are Ray-Ban Meta glasses really a hit?
We checked how it stacks up to iconic gadgets, and the results are mixed. - Opendoor says Christy Schwartz to serve as interim CFO as Selim Freiha exits
Management changes have been a major catalyst for the company in recent weeks.
- Millions of Americans are still on AOL, as Apollo mulls $1.5 billion sale
America is online. Very much so, in fact, with the once iconic internet company still putting up web traffic numbers that beat Apple.com, Temu.com, and more. - John Wayne Airport in Orange County tops the list of North America’s favorite airports
A new study from J.D.Power reveals the North American airports that travelers find the most satisfying.
- Grok has 64 million monthly users while ChatGPT has 700 million daily users
The New York Times reports that Elon Musk spent the majority of his time at xAI this summer rather than at Tesla.
- Casio is about to start selling a furry AI-powered pet robot in the US, as it bets on loneliness
The watchmaker behind G-Shock is betting on the growing loneliness epidemic to save its struggling business. - Zuckerberg: AI might be a bubble but “misspending a couple of hundred billion” is worth it to achieve superintelligence
Zuckerberg spoke to tech journalist Alex Heath on his new podcast, “Access.”
- Jimmy Kimmel’s suspension highlights Nexstar and Sinclair’s vast control over US airwaves
Nexstar and Sinclair control large swaths of US television stations. Nexstar’s planned merger could make their influence even greater. - OpenAI reportedly poaching key Apple designers, using Apple manufacturing partners for AI gadgets
The AI gadgets being designed by former Apple design chief Jony Ive are drawing on Apple talent and partners, according to The Information.
- Microsoft is hiking US Xbox prices for the second time in five months
Today Microsoft announced it will raise Xbox prices once again in the US, citing “changes in the macroeconomic environment.”
- New solana treasury entrant, Solmate, soars on rebrand
Solmate backers include the Solana Foundation, Ark Invest, and Pulsar Group.
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