Nasdaq 100 Drops 2% as AI and Chip Stocks Crater on CPI
The Nasdaq 100 fell 2.02% and the Nasdaq Composite lost 1.88% as AI and chip names sold off after CPI printed at 3.7% versus 3.6% expected. CoreWeave dropped 15.46%, but one mega-cap quietly gained.
European Stocks Close Higher: Ibex Jumps 1.33%, DAX Adds 190
Spain's Ibex 35 closed up 1.33% at 19,285.79, the best of five European majors, while the Nasdaq 100 fell 0.55% and the dollar rose against every major currency. The gap between the winners and France's 0.38% gain explains where the money actually went.
S&P 500, Nasdaq Hold 100-Hour MAs After Record Run Stalls
The S&P 500, Nasdaq and Nasdaq 100 closed lower two days running but each found buyers at its rising 100-hour moving average. Consumer sentiment slipped to 46.3 while inflation expectations ticked up to 4.7%.
European Stocks Rise Friday but Post Weekly Losses
European indices closed higher Friday, but the DAX fell 0.57% and Italy's FTSE MIB 1.46% for the week. Only the UK's FTSE 100 bucked the trend, and French protest unrest kept a premium in French debt.
Nasdaq Rises 0.64% as Dow Jumps 423 Points to 51,660
The Nasdaq closed up 0.64% at 27,366.17 for a fourth straight weekly gain, but software names like Snowflake and Datadog surged more than 7% while Intel and AMD fell. The split inside technology is the detail the index print hides.
S&P 500 Jumps as Trump Rules Out Iran Strike Before Midterms
Trump's Truth Social post ruling out strikes on Iran before the midterms unwound the escalation premium in oil, yields and the dollar, and the S&P 500 bounced. Iran's reply and next week's CPI print decide whether 7,806 resistance gives way.