The Weekend Rip | |
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Let's recap and prep you for the week ahead. | |
Monday : Technology dragged the market lower as Nvidia’s earnings countdown and a China-sourcing scare hit the chip and memory trades. Regenxbio’s FDA hold and RUM Group’s $13.7 billion cloud contract gave stock pickers two very different kinds of catalyst risk. Oil fell even after Washington promised an economic onslaught against Iran, leaving enforcement, not rhetoric, as the week’s first real test. | |
Tuesday : Falling oil and Treasury yields gave stocks room to climb even as the U.S.-Iran conflict kept geopolitical risk in view. Semiconductors powered the advance, but ugly reactions in Dick’s, Intuit, and Zoom showed traders were still punishing soft guidance and acquisition drag. Nvidia earnings and a packed morning of inflation and growth data now decide whether the technology bid has another leg. | |
Wednesday : Stocks drifted through an indecisive session before earnings finally woke up the market after hours. Nvidia cleared expectations while Salesforce, CrowdStrike, and Okta turned AI monetization into actual revenue growth. Sticky inflation and stronger private demand left Friday’s Jackson Hole speech as the unresolved counterweight. | |
Thursday : Stocks climbed as investors absorbed sticky PCE inflation, but nearly all the session’s strength came from technology. Nvidia’s $442B surge and the software rebound turned AI-disruption fears into another chase. After the close, Marvell and IREN fell while Affirm rallied, showing the market still distinguishes promised growth from profitable growth. | |
Friday : Stocks fell as Kevin Warsh pushed rate hikes back into the conversation. PayPal lost its would-be buyers, and the buyout premium disappeared with them. A short report hit SELLAS as higher yields punished AI infrastructure stocks. | |
Here are the closing prices: | |
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