Stocks rise for the fourth-consecutive session as tech rally leads gains |
All major US indexes rose ahead of tomorrow's holiday. While tech was the best-performing sector ETF, the rally was broad-based with every sector ETF gaining except for health care. The Google versus OpenAI split in the AI trade continued, but in a reversal of recent trends, stocks linked to OpenAI rallied, with Nvidia, CoreWeave, Oracle, and Advanced Micro Devices all gaining. Meanwhile, Alphabet was modestly lower. Stocks that moved higher: |
- Robinhood was the best-performing stock in the S&P 500, rising after the brokerage announced yesterday a joint venture with Susquehanna to enhance its prediction market business. (Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company subject to certain legal and regulatory restrictions.)
- Dell was the benchmark index's third-best performer after reporting upbeat Q4 guidance in yesterday's Q3 earnings call.
- Shares of Beyond Meat skyrocketed amid heavy call activity and little news.
- Netflix climbed ahead of tonight's "Stranger Things" streaming premiere amid reports it is ramping up its efforts to acquire Warner Bros. Discovery.
- Urban Outfitters soared after posting strong Q3 earnings, with revenue 3% ahead of expectations and adjusted EPS beating by 7%. Other retailers, like Kohl's, Abercrombie & Fitch, and Best Buy continued their rise, and Burlington Stores reversed yesterday's slump. Macy's also popped on the back of the strong results from peers.
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- Deere was one of the worst-performing stocks in the S&P 500 as a sales and profit beat weren't enough to stem investors' tariff unease after the company dropped its fourth-quarter earnings report.
- HP slumped after the computer and printer giant announced weaker-than-expected guidance for fiscal 2026 alongside plans for a roughly 10% cut to its workforce.
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Thrill-seeking adults and children accompanied by parents have been propping up the box office this year. Read more. |
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Don't like politics at the Thanksgiving table? Here's some performative AI jargon for you to weaponize so you can win the day. Read more. |
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OpenAI is scrambling to figure out how to generate enough steady revenue to turn the expensive AI services it offers into profits, as it spends dizzying sums on the infrastructure needed to scale its business to the expected demand. It appears that for now, the company's solution comes straight from the old, reliable Big Tech playbook: turn free users into paying subscribers. According to The Information, OpenAI is projecting that it can ramp up to about 220 million paid subscribers by 2030. Read more. |
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