Stocks dip ahead of tomorrow’s scheduled talks between the US and Iran |
The S&P 500 broke its seven-day winning streak ahead of tomorrow’s scheduled talks between the US and Iran, but the benchmark index ended the week up 3.6%. The Russell 2000 fell on the day, while the Nasdaq 100 edged higher. Gains in semiconductor stocks powered information technology to be the best-performing sector, while consumer staples was the worst performer.
March consumer prices were in line with analysts’ expectations, rising 3.3% higher year-over-year due to spiking energy prices. Core CPI, which excludes food and energy, were much tamer, climbing 2.6% from a year ago.
Stocks that moved higher: |
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AI hardware stocks IREN, Oklo, Marvell Technology, POET Technologies, Applied Digital, Broadcom, Nebius, Astera Labs, Cipher Digital, Super Micro Computer, Applied Optoelectronics, and Coherent soared, boosted by Anthropic’s compute maneuvers.
- CoreWeave soared after striking a deal with Anthropic to rent data center capacity to build and deploy its Claude AI models.
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Nio rose amid news its workforce shrank by more than 10,000 last year.
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Strive Inc. spiked after TD Cowen initiated coverage with a “buy” rating.
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TSMC rose after reporting a 35% sales jump in Q1 as AI demand holds strong.
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Struggling bitcoin treasury firm Nakamoto got a boost after TD Cowen initiated its coverage of the stock with a “buy” rating.
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WLFI, the token that aims to provide holders governance rights of the President Trump-backed World Liberty Financial, plummeted.
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Palantir dipped, paring steeper losses after President Trump lauded the company on Truth Social.
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Energy earnings will offset slowdowns elsewhere. But it’s still all about Big Tech. Read more. |
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Glass half full: stock prices catch up to earnings estimates as geopolitical risk fades. Glass half empty: geopolitical and recession risks rise from here, or investors keep shrugging off better-than-expected tech earnings. Read more. |
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China exported more than twice as many electric vehicles (and plug-in hybrids) in the first quarter of 2026 as it did in the same period last year, according to the China Passenger Car Association (CPCA).
New energy vehicle exports surged 124% year over year, as major players like BYD and Chery ramped up overseas efforts to combat lower domestic sales. Read more. |
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