This post was originally published on this site.
US stock markets started strong and we saw 10% bounces in beaten-up memory stocks. It didn’t last but it also didn’t break down.
Some notable names:
- MU +5.1%
- SNDK +3.5%
- INTC +7.7%
- SKHY +2.8%
- NVDA +2.8%
- QCOM +5.8%
The hyperscalers were near flat and the indexes were higher but didn’t finish at the highs. I wouldn’t give the win today to the bulls or the bears. It was a nice day but came after a brutal rout. Non-farm payrolls may have limited the enthusiasm because it puts a rate hiking cycle back on the table.
Weighing at one point was a report on a strategy shift from MSFT where they will curb third-party data centers, with Oracle cited. That briefly sent ORCL 3% lower and weighed on the Nasdaq. Overall, it was a tough week for stocks but the pain was concentrated heavily in just a few names.
On the day:
- S&P 500 +0.3%
- Nasdaq Comp +1.1%
- Russell 2000 +1.0%
- DJIA -0.4%
On the week:
- S&P 500 -2.7% — worst since April 2025
- Nasdaq Comp -3.4% — fourth week of declines
- DJIA -0.9%
Just after the close, the FT reports that Anthropic will go ahead with its IPO with a $1.25-1.75 trillion, likely $1.5 trillion. Eyes remain on Iran but positive headlines today were faded quickly. That tells me there is some optimism priced in now and that the market needs to see something official.
This article was written by Adam Button at investinglive.com.
