Tech stocks are slumping - even as more than 300 S&P 500 constituents rose Thursday - and Treasurys are rallying. Here's what may be changing.
Here's what's grabbed my attention: Thursday's tech takedown, and a market that's increasingly splintering.
We've seen this movie before. The difference this time around: Investors weren't just selling tech shares. More than 300 stocks among the S&P 500 actually rose. Meanwhile, money rushed into U.S. government bonds, sending yields sharply lower.
So is this another violent reset of the AI trade or the start of a broader reshuffling? Maybe both.
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Three stories worth your time ...
-- The 3 questions every AI investor needs to ask right now
-- Young investors are betting on prediction markets and crypto. But this bestselling author says boring money moves still work.
-- Investors' recent money moves show a preference for lowering risks over boosting rewards
On markets: The market is behaving like a seesaw, with AI stocks on one side and everything else on the other, writes Joseph Adinolfi. The back-and-forth is leaving some investors with a case of whiplash.
On trading: The market's latest slide triggered a rare signal that last time produced an immediate bounce - followed, however, by more trouble for stocks, writes Jamie Chisholm.
-- Follow Friday's live markets coverage.
-- Market intelligence: This market signal just occurred for only the second time since 1999. Here's what happened and what it means.
Leak sinks Moderna's stock ...
Moderna shares sank Thursday.
A clinical trial for a potentially groundbreaking cancer vaccine from Moderna and Merck hit its targets, but Moderna's stock (MRNA) plunged after the results leaked. Was this a classic "sell the news" event, or do investors have other concerns? More details may come when the study is formally presented Saturday at a medical conference, writes Jaimy Lee.
Rings true?
The ring game is changing.
Couples are spending less on rings. But is buying a bargain wedding band online a smart move? Dollar Signs columnist Aditi Shrikant walks through what to ask before buying.
'Nothing has been set aside ... '
Quentin Fottrell is MarketWatch's Moneyist.
A reader is worried that her aging father-in-law, who sold his house to pay off a daughter's $50,000 debt, will run out of money and need financial assistance himself. The Moneyist tries to find clarity in a murky situation that has raised some red flags.
Energy costs continue to rise.
Oil's shipping problem ...
Oil prices are nearing their highs for the year as worries grow that that armed hostilities in the Iran war could flare up again. Tanker rates around the Strait of Hormuz have surged, with shipping costs now five times what they were before the war, write Myra Saefong and Isabel Wang.
Who needs a car?
With car ownership getting more expensive, some younger Americans are simply deciding they're better off without one. The share of households under 35 that own a vehicle has fallen to 79.4% from 82.1% in 2019.
For some, giving up a vehicle isn't just about cutting one bill from the budget; it's freeing up money for rent, savings and everything else, writes MarketWatch's Venessa Wong.
-- France is getting its credit rating reviewed. What to expect as French debt turmoil has helped turn U.S. Treasury yields around.
-- This hot AI-fueled stock has been in a rut. It just beat earnings expectations by 36%.
-- The mobile ambitions of SpaceX see telecom stocks get hit again. What the latest developments mean.
-- Americans are having fewer babies - and pampering them with luxury diapers
About me
Mark DeCambre is editor in chief of MarketWatch. He has spent more than 20 years covering Wall Street, markets and personal finance, and writes Need to Know, drawing on the award-winning analysis and journalism of the newsroom.
-Mark DeCambre
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