Stocks whipsaw ahead of next week's Big Tech earnings |
The S&P 500 whipsawed before finishing marginally higher ahead of next week's Big Tech earnings, when Meta, Microsoft, Tesla, and Apple will report. The Nasdaq 100 outperformed, officially erasing all losses after Trump's European tariff threats last week. The Russell 2000 sank, breaking its 14-session streak of outperforming the S&P 500. Financial services was the worst-performing sector ETF while materials was the best. Stocks that moved higher: |
- Advanced Micro Devices rose for the ninth consecutive session as Intel's supply constraints presented an opportunity for CPU market share gains.
- Nvidia gained as Chinese officials will allow leading tech companies to progress with their plans to import H200 chips.
- Microsoft jumped after announcing Rho-alpha, its first robotics AI model derived from its vision-language models.
- Wall Street's mood brightened on Nintendo as momentum for Switch 2 builds.
- Spotify rose following an upgrade from Goldman Sachs as it prepares to hike subscription prices next month.
- Booz Allen Hamilton jumped after boosting its full-year earnings outlook and posting better than expected Q3 profits.
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Hyperscalers need more "hype" on their potential AI money-making opportunities or to show their "scale" continues to drive huge growth through this spending binge. Read more. |
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With his company set to hit the public markets in February, Liu envisions a future where most vehicles, commercial or not, are driving themselves. Read more. |
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One unlikely beneficiary of the AI trade has been the British Overseas Territory of Anguilla, which lucked into a future fortune when ICANN, the Internet Corporation for Assigned Names and Numbers, gave the island the ".ai" top-level domain in the mid-1990s. Indeed, the gold rush for websites to associate themselves with the burgeoning AI technology has seen a flood of revenue for the island of just ~15,000 people. There are now more than 1 million ".ai" websites, contributing an estimated $70 million to Anguilla's government revenue last year. |
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- Active ETF offers exposure to Elon Musk's SpaceX, Bloomberg reports
If true, it could offer access to SpaceX before much talked about plans for the SpaceX to IPO late this year. - AI has given public markets the software scaries... and it's spreading to private markets, too
As AI replaces software engineers and vibe-coding startups surge, hundreds of billions of dollars' worth of venture bets on traditional software firms are facing a brutal reset. - Ethereum treasury firm ETHZilla acquires two aircraft engines (!?!?) in tokenization push
Through a newly formed subsidiary, ETHZilla Aerospace LLC, the firm acquired two CFM56-7B24 aircraft engines for an aggregate of $12.2 million.
- KFC ranked worst out of 76 restaurant chains per new market share analysis
The chicken wars are taking their toll, new Barclays analysis suggests, as competitors close in on the chain that once ruled the roost. - TikTok closes deal to operate in the US
Oracle is one of three new "managing investors" with a 15% stake in the new agreement.
- Iconic hot dog brand Nathan's Famous just sold for $450 million
Packaged meat company Smithfield Foods has agreed to acquire the historic Coney Island staple — best known for its annual hot dog eating contest — in an all-cash deal. - Amazon to lay off thousands more office workers on path to 30,000 cuts
That's in addition to the 14,000 corporate jobs it cut back in October.
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