The S&P 500 finishes flat but tech weighs down the Nasdaq 100 |
The S&P 500 closed flat. Investors were in a risk-off mood, as tech was the worst-performing sector, sending the Nasdaq 100 0.6% lower. Small caps rallied as the Russell 2000 jumped 1.1%. Gainers: |
- Defense companies Northrop Grumman, L3Harris Technologies, General Dynamics, Kratos Defense, RTX, Lockheed Martin, and Huntington Ingalls Industries reversed yesterday's losses on news of Trump's proposal of a $1.5 trillion military budget for 2027.
- Amid Trump's push for a record defense budget, bulls poured into Joby Aviation and Archer Aviation options, though only the latter closed higher.
- Opendoor Technologies soared as management said ending institutional home-buying wouldn't hurt the company.
- Ford rose on yesterday's announcement that it plans to introduce eyes-off driving to its new EV platform by 2028.
- Gap rose after UBS upgraded the stock to Buy, with a new price target of $41, up from $26.
- Costco jumped after reporting a 7% increase in December comparable sales.
- Canopy Growth climbed higher after refinancing its debt to later maturities with a lower interest rate.
- Applied Digital rose after posting a massive Q2 sales beat, with management in "advanced discussions" to add another hyperscaler client.
- Alphabet rose as it announced an artificial intelligence makeover of Gmail that adds an optional AI-powered inbox.
- Insurers Molina Healthcare, Centene, Oscar Health, and UnitedHealthcare rose as the House teed up the ACA extension vote.
- Bloom Energy surged on a fuel cell deal with American Electric Power.
- AST SpaceMobile rose after favorable commentary from Bank of America.
- World Liberty Financial's token, WLFI, jumped to a three-month high on news of a banking application.
|
- AbbVie dipped as it denied it's in talks to buy Revolution Medicines.
- Zcash dropped after the entire team of Electric Coin Company, a core development firm behind the token, left to start a new company.
|
|
|
Both the Financial Times and Bloomberg have reported that Apple's hardware chief is likely next in line. Read more. |
|
|
This M&A fight is nearly over. But would the Trump administration challenge the deal on regulatory grounds? Stranger things have happened. Read more. |
|
|
Morgan Stanley's annual survey of audio habits revealed that younger Americans are listening to an amount of AI-generated music each week that's roughly on par with the run time of "Avatar." "This is the first year we included any AI music questions in our survey," wrote a team led by analyst Benjamin Swinburne. "What we found surprised us, with 50-60% of listeners 18- 44 reporting 2.5-3 hours per week of AI music listening." Read more. |
|
|
Was this email forwarded to you? Don't miss out on future stories — subscribe to The Wrap and get your daily dose of financial news straight to your inbox. Craving more insights in your inbox? Subscribe to Chartr and Snacks for quality reads. We care what you think! If you have any feedback or comments, feel free to reply and let us know your thoughts! |
|
|
Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... See more |
|
|
SHERWOOD MEDIA, LLC, 85 Willow Road, Menlo Park, CA 94025 |
|
|
|
No comments:
Post a Comment