More tariff threats can’t keep stocks down for long |
US stocks shook off early losses tied to fresh tariff announcements from President Donald Trump to finish positive. The S&P 500 inched up 0.1%, the Nasdaq 100 rose 0.3%, and the Russell 2000 advanced by 0.7%.
Communication services and financials were the best-performing S&P sector ETFs, while energy posted a loss of more than 1%. Momentum stocks, a source of relative (though meager) weakness so far in the third quarter, had a particularly solid day, with the iShares Momentum ETF’s 1.3% gain propelling it back to near the top of its recent range.
Palantir was one of the top stocks in the S&P 500, hitting an intraday all-time high and closing at a fresh record peak.
Rocket Lab jumped doubled digits after Citi hiked its price target on the stock to $50 from $33.
Nvidia-backed Nebius soared after Goldman Sachs initiated coverage on the data center startup with a buy rating.
Mark Zuckerberg’s announcement that the company was committing to hundreds of billions of dollars in spending on AI data centers provided only a short-lived jolt for Meta shares. |
— Luke Kawa, Markets Editor |
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Market valuation climbs back to Covid boom territory |
“Fundamentals matter in the long run, but in the short run, they’re meaningless,” one strategist told MarketWatch. Read more. |
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A look inside Slate’s Michigan design studio and prototype facility
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Slate expects to deliver a roughly $25,000 electric truck next year. We checked out some of its facilities to see how it’s planning to do it. Read more. |
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Just in time for “Crypto Week,” bitcoin smashed another record, crossing $123,000 for the first time today. A year ago, bitcoin was around $60,000 — a 102% jump. Institutional inflows, short squeezes, and regulatory momentum continue to be strong drivers of the rally. Read more.
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Gen Z trades stocks the same way it gambles
Kind of ironic that the generation that thinks nothing in the world is going right for them seeks out betting and trading structures that require multiple things to go right to profit. -
What to know as the crypto industry crosses the Rubicon of tokenization
Once niche, tokenization has become mainstream as traditional finance players are moving real-world assets onto blockchain rails. -
Malaysia tightens export controls on US AI chips as Nvidia’s Jensen Huang heads to China
It’s part of a US campaign to keep powerful processors out of the hands of its top geopolitical rival.
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Musk says he doesn’t want Tesla to buy xAI, just invest in it
The statement comes on the heels of a SpaceX $2 billion investment in xAI. -
Crypto giant Grayscale confidentially files for IPO
The architect of the first publicly traded bitcoin fund in the US prepares to go public. -
RBC hikes S&P 500 price target, sees US stocks running in place through year-end
“Investors have been telling us that they are ready to start pricing in 2026,” Chief US Equity Strategist Lori Calvasina wrote. -
Record-high coffee prices poised to keep rising on upcoming Brazil tariffs
Coffee prices are up sharply in the last year.
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Tesla’s first jury trial to begin over fatal autopilot crash
This isn’t something Tesla wants as it tries to sell the public on its autonomous cars.
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Airbnb wants to be so much more than just short-term home rentals
Unlike Uber, which is hitting new highs, the vacay giant’s efforts to diversify the business haven’t paid off just yet. -
Kraft Heinz wants to slim down as Americans lose their taste for processed food
The packaged food giant was whisked up in a $46 billion merger a decade ago. Now it might break up. -
Google, xAI, Anthropic, and OpenAI each receive $200 million contracts from Department of Defense
The $800 million in contracts call for the AI companies to “develop agentic AI workflows across a variety of mission areas.”
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Hawaii is, again, Americans’ favorite state
Gorgeous beaches, dreamy weather, and the Aloha Spirit are real crowd-pleasers, it turns out.
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