The S&P 500 Index ($SPX) (SPY) today is down -0.35%, the Dow Jones Industrial Average ($DOWI) (DIA) is down -0.19%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.45%. June E-mini S&P futures (ESM26) are down -0.40%, and June E-mini Nasdaq futures (NQM26) are down -0.50%.
Stock indexes are sliding today,
» Read more about: Stocks Pressured by Tech Weakness and Rising Bond Yields »
The AI-driven rally has reached a fever pitch, but a look under the hood of three primary ETFs, the iShares Semiconductor ETF (SOXX), the iShares Top 20 U.S. Stocks ETF (TOPT), and the U.S. Digital Infrastructure and Real Estate ETF (IDGT), reveals a market that is fundamentally overextended and structurally vulnerable.
While momentum remains strong,
» Read more about: These 3 AI ETFs Could Be the First to Kill the Stock Market Rally »
Poet Technologies
Today’s Change
(-8.02%) $-1.14
Current Price
$13.07
Market Cap
$1.3B
Day’s Range
$11.82 –
By Jordan Fitzgerald, Bloomberg
For years, there was only one way for mom-and-pop investors to buy into Elon Musk’s vision: shares of Tesla Inc. That’s about to change — and it’s a serious risk for Tesla investors.
With the imminent initial public offering of Space Exploration Technologies Corp.,
» Read more about: SpaceX IPO will add second Musk stock. It’s a problem for Tesla. »
President Donald Trump said he will allow incoming Federal Reserve Chair Kevin Warsh to make interest rate decisions without White House interference, telling the Washington Examiner, “I’m going to let him do what he wants to do. He’s a very talented guy, he’s going to be fine, he’s going to do a good job.”
» Read more about: Trump says Kevin Warsh can set interest rates independently at the Fed »
The S&P 500 (^GSPC 0.67%) fell 0.67% to 7,353.61, the Nasdaq Composite (^IXIC 0.84%) slid 0.84% to 25,870.71, and the Dow Jones Industrial Average (^DJI 0.65%) lost 0.65% to 49,363.88 as surging Treasury yields put pressure on markets.
» Read more about: Stock Market Today, May 19: Soaring Treasury Yields Pressure Markets »
President Trump has recently threatened Iran with “big hit” in case the country did not agree to a deal. Trump noted that he was ready to provide Iran with a limited period of time to get the deal done. As a result, oil traders have started to prepare for a potential restart of the military operation against Iran.
Investors saw Sandisk (SNDK +3.77%) rally by more than 3,000% over the past year and have been looking for smaller artificial intelligence (AI) stocks ever since. A $10,000 investment in Sandisk before its big one-year rally would be worth more than $300,000 today.
All eyes will be on Nvidia stock when the company releases its first quarter report after the market close on Wednesday.
Nvidia’s customers have been ramping up spending to support the ongoing demand for AI.
Investors are keen to know what the stock will do immediately following the report,
Oil prices fell on Tuesday as President Trump held back on renewed military strikes inside Iran and NATO said it may consider missions to help vessels cross the Strait of Hormuz.
Futures on Brent crude, the international benchmark, fell 1.3% to trade just below $111 per barrel, while those on US benchmark WTI crude gave up 0.9% to trade below $103.50.
» Read more about: Stock market today: Dow, S&P 500, Nasdaq drop amid rising bond yields »