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: |
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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.
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Opendoor Technologies soared as management said ending institutional home-buying wouldn’t hurt the company.
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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.
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Costco jumped after reporting a 7% increase in December comparable sales.
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Canopy Growth climbed higher after refinancing its debt to later maturities with a lower interest rate.
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Applied Digital rose after posting a massive Q2 sales beat, with management in “advanced discussions” to add another hyperscaler client.
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Alphabet rose as it announced an artificial intelligence makeover of Gmail that adds an optional AI-powered inbox.
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Insurers Molina Healthcare, Centene, Oscar Health, and UnitedHealthcare rose as the House teed up the ACA extension vote.
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Bloom Energy surged on a fuel cell deal with American Electric Power.
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AST SpaceMobile rose after favorable commentary from Bank of America.
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World Liberty Financial’s token, WLFI, jumped to a three-month high on news of a banking application.
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AbbVie dipped as it denied it's in talks to buy Revolution Medicines.
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Zcash dropped after the entire team of Electric Coin Company, a core development firm behind the token, left to start a new company.
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Both the Financial Times and Bloomberg have reported that Apple’s hardware chief is likely next in line. Read more. |
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This M&A fight is nearly over. But would the Trump administration challenge the deal on regulatory grounds? Stranger things have happened. Read more. |
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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. |
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