The Weekend Rip
Happy Weekend! | | AI got stress-tested, memory names whipped around, and defensive sectors quietly did their job. The Nasdaq took the worst of it as chip leverage, IPO math, and capex worries hit the tape, while the Dow and small caps found pockets of strength. Micron revived the AI memory story midweek, but by Friday traders were back to asking whether private valuations, public proxies, and crowded momentum trades could all hold up at once. | Let's recap and prep you for the week ahead. | Monday : The S&P 500 and Nasdaq-100 fell 0.3%, the Dow gained 0.3%, and small caps climbed 0.9%. Treasury’s 60-day waiver for Iranian oil pushed crude below $74, but energy stocks rose anyway, making this a rotation day rather than a broad retreat. SpaceX cratered 16% despite a $6.3 billion computing deal, Alphabet lost AI talent, and Micron rallied into earnings on an Anthropic partnership. | Tuesday : The Nasdaq sank 3.3% as the AI trade cracked, while the Dow stayed flat and seven sectors still finished green. South Korea’s leveraged chip unwind dragged memory stocks lower, sending Micron down 13% one day before earnings. Cerebras sold a near-doubling of revenue on margin pressure, FedEx’s beat could not save the stock, and defensive pharma caught a bid. | Wednesday : The Nasdaq fell 0.4% while cheaper oil pushed the Dow higher and punished Energy. Micron’s revenue quadrupled, and its $50 billion forecast revived the battered AI trade after hours. Wendy’s became meme-stock dinner while housing names rallied around a bill Trump suddenly refused to sign. | Thursday : Micron turned the AI memory shortage into the day’s main trade, sending suppliers higher while Apple and Microsoft got hit for being on the wrong side of the bill. PCE inflation hit a 3-year high, keeping the Fed’s hike threat alive because apparently we are doing this again. SELLAS gave biotech traders a binary trial setup, Bayer got a Roundup legal lifeline, and Stocktwits found plenty of ways to make paperwork sound exciting. | Friday : Markets slipped as AI investors started asking whether private-market valuations can survive public-market math. The pressure hit IPO proxies, chip names, memory winners, and anything leaning too hard on the AI halo. Health care, real estate, and utilities caught the defensive bid while Stocks traders picked through OpenAI delay chatter, onsemi’s deal reaction, and ImmunityBio’s Russell-flow squeeze. | This week's Stocks Top 25 showed how momentum movers fared vs. the indexes. | Here are the closing prices: | |
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