Changing the world forever is a volatile ride.
The AI trade is evidence of that, as is Moderna stock -- which has tumbled after data on its cancer vaccine candidate were leaked.
While one hopes to change the world for the better and the other can't promise not to end it, both were under pressure again Friday.
The tech selling has eased but the Dow, the outperformer this week, has taken on the baton as oil prices hit $115 a barrel.
For those keeping track of all the worrying signs: Western Digital stock fell despite the data-storage company's earnings beat. And SK Hynix scrapped the planned U.S. IPO of its Solidigm memory-chip unit, citing market conditions and share-price trends. Let's all hope Anthropic doesn't get any ideas.
After Meta's AI capex plans spooked the market, earnings next week from its fellow big spenders Amazon and Alphabet will be the next big risk.
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📈 Here's what's happening in markets today:
Stock futures are pointing lower as oil prices surge.
Moderna, Meta, SpaceX, AT&T, CoreWeave, Sandisk, and more stocks that explain today's market.
SpaceX mobile wireless ambition sends Crown Castle stock soaring.
American Express earnings reveal there's 1 consumer group not concerned with high interest rates.
U.S. Treasury wants to rein in deals for Chinese biotech and AI.
SK Hynix scraps U.S. IPO of memory-chip unit. Why the stock is jumping.
Micron stock leads chip rebound. Dip buyers buckle up.
Two critical Nvidia stock flaws and other reasons this analyst says sell.
🤖 Meta paves the way for huge AI financing deal
Meta Platforms' coming stock split will help it fund its huge AI buildout while preserving voting control for founder and CEO Mark Zuckerberg, who has a roughly 14% economic stake and 60.6% voting interest. The upshot for investors is that Meta could undertake a significant equity raise as early as the current quarter. Read more about it here.
🗳? What an election blue wave could mean for business
Investors should get ready for changes in Washington. President Donald Trump's thin congressional majority is on the ropes, with Democrats needing to pick up just four House seats and four Senate seats in the Nov. 3 midterms to secure power on the Hill. Read here for what it means for Wall Street.
?? Bloom Energy beat expectations but spending in focus
Fuel cell maker Bloom Energy beat third-quarter expectations, but investors focused on how much it's spending on plants and equipment. It is boosting annual manufacturing capacity from around 1 gigawatt to 5 gigawatts, with each gigawatt is equivalent to the capacity of a large nuclear reactor. Read more about it here.
🗽 Treasuries become haven for investors amid tech rout
After weeks of dumping Treasuries, investors piled back into the safest asset amid Thursday's brutal selloff in tech stocks. The yield on the benchmark 10-year Treasury dipped below 5%, its biggest one-day fall since March 2023. Read more about what it means here.
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Investors Will Clean Up With Veolia Environement
Forget the Trump or Fed 'Put.' AI Leaders Have the Wheel Now.
? SpaceX's booming profit fueled by illegal turbines: lawsuit
SpaceX's booming third-quarter profits were boosted by natural gas turbines that are operating illegally, spewing pollutants into Black neighborhoods, according to an organization challenging the turbines in court. Currently all its data center warehouses are on Earth, specifically in a cluster surrounding Memphis. Read about the lawsuit here.
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Barron's Tech: AI Battleground Stocks
💉 Moderna stock slammed by leaked data on cancer vaccine
Moderna found itself in an unusual position after a data leak about the cancer vaccine candidate it's developing with Merck sent its shares down 18%, the biggest daily drop since August. The European Society for Medical Oncology confirmed the leak of the information, which was to be presented at its meeting this weekend. Read more about it here.
💬 Quote of the day:
Other headlines moving markets:
Deckers Outdoor lowers outlook on shoe revenue. Why investors see a bad fit.
Boston Beer earnings beat estimates as sales slump continues.
Western Digital earnings fail to get stock back on track.
At RingCentral, agentic AI pivot pays off.
How Meta's stock can be both the cleanest AI winner and a risky play.
Gold miner Newmont expects return to growth in 2027.
Southwest Airlines beats expectations but slashes outlook.
Spotify's post-earnings gain is a perfect example of how the AI trade has shifted.
Investors see promise in Roper's AI push.
A SpaceX-Tesla merger seems inevitable. Is it a good idea?
GE Vernova stock pressured. Blame Meta for AI financing fears.
Investors snap up Treasuries during tech rout, sending yield below 5%.
Why wealthy entrepreneurs are snapping up businesses for their kids to run.
AI stock selloff takes these data center owners with it.
Even market bull Ed Yardini sees irrational exuberance in chip stocks.
Anthony Scaramucci on his smash record, the midterms, and some advice for Trump.
How Ross and On Holding can buck that retail funk.
The consumer staples rally is masking Hershey's deeply flawed fundamentals.
Meta's Muse is a huge hit. Its success could hammer the stock market.
Taxes are on the ballot. That could be bad news for muni bond investors.
-- Edited by Liz Moyer, Stacy Ozol, and Patrick O'Donnell
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