Stocks climb to new record highs on peace talk optimism and tech rally
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The S&P 500 and Nasdaq 100 both closed at record highs on news that President Trump will send Jared Kushner and Steve Witkoff to Pakistan to negotiate peace talks with Iran. Trump told Reuters that Iran plans to make an offer aimed at resolving US demands, though Tasnim News Agency, which functions like an official media outlet for the Islamic Revolutionary Guard Corps, denied this. The Russell 2000 also rose, closing just shy of its record high.
The information technology sector was the best performer after a huge earnings surprise from Intel lifted the entire semiconductor sector. Healthcare was the worst-performing sector, as its largest constituent, Eli Lilly, slipped after prescriptions for its weight-loss pill came in below expectations in their second week on the market, while competitor Novo Nordisk gained on the news.
Stocks that moved higher:
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- Cable and broadband company Charter Communications had its worst-ever trading day as investors dumped the stock following its Q1 results and forward guidance.
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The stock price of the company responsible for the brains of the AI boom is finally showing some brawn again. Read more.
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The DOJ’s order to reclassify marijuana could be a boon for US cannabis companies. But the devil is in the details.
Read more.
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SpaceX thinks its total addressable market (TAM) is a whopping $28.5 trillion, according to an S-1 filing for its upcoming IPO reviewed by Reuters. And most of that market isn’t rockets. The company says roughly 90% could come from AI — largely selling artificial intelligence tools to businesses. Read more.
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- Tesla Cybercab production has begun
Videos show the gold cars driving themselves off the production line in Austin.
- How do you stop teens smoking? The UK thinks a lifetime ban is the only way forward.
7.5% of American middle and high schoolers reported tobacco product use in the last 30 days, per CDC data.
- DeepSeek releases new V4 series models highlighting efficiency and long context
The new open-source models have closed the gap with other state-of-the-art models in coding performance, but its authors say it trails them in “reasoning” performance by three to six months.
- Washington, DC, lost over 100,000 jobs last year, the most in the US
Sweeping federal job cuts and a shrinking hospitality sector have resulted in high unemployment in the nation’s capital.
- Bitcoin ETFs take in more than $2 billion in 8 days
The path to $80,000 is clear in the short term, according to one analyst.
- DeFi players scramble to plug bad debt from KelpDAO exploit
Industry heavyweights such as Lido, EtherFi, and Mantle have proposed substantial amounts of ethereum to backstop Aave, the largest lending protocol.
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