Wall Street holds steadier following mixed profit reports from Target, Lowe’s and other retailers
By STAN CHOE, AP Business Writer
NEW YORK (AP) — Nvidia, Palantir and other superstar stocks that had surged in the mania surrounding artificial-intelligence technology are dragging Wall Street lower again on Wednesday.
The S&P 500 dropped 1% and was on track for its worst day since the first of the month.
Read MoreThe AI Report That’s Spooking Wall Street
A new report from MIT is casting doubt on the hype around the financial value AI brings to businesses, and may be triggering a small tech stock sell-off on Tuesday.
The report, The GenAI Divide: State of AI in Business 2025, found that the promised AI gold rush isn’t paying off for most companies yet.
» Read more about: The AI Report That’s Spooking Wall Street »
Read More‘Trump used trade as leverage for Indo-Pak conflict to an end’: White House
White House Press Secretary Karoline Leavitt on Tuesday (local time) repeated the claims made by US President Donald Trump on brokering peace in the India-Pakistan conflict after Operation Sindoor. Leavitt, during her press briefing, said that Trump was proud of the peace deals and leveraged trade to end the Indo-Pakistan conflict after the April 22 Pahalgam terror attack.
» Read more about: ‘Trump used trade as leverage for Indo-Pak conflict to an end’: White House »
Read MoreCathie Wood’s Ark Invest Purchases Bullish (BLSH) Stock Despite 32% Crash
Following the successful IPO listing last week, stock price of Peter Thiel-backed crypto exchange Bullish (NASDAQ: BLSH) has been on a free fall with a 32% drop over the past week.
Cathie Wood’s Ark Invest finds an opportunity here, scoping more than 350,000 BLSH shares on Tuesday, August 19.
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» Read more about: Cathie Wood’s Ark Invest Purchases Bullish (BLSH) Stock Despite 32% Crash »
Read MoreWall Street drifts in premarket trading while Target tumbles on sluggish sales and a CEO change
Wall Street continues to drift Wednesday while news of a leadership change at Target took some of the spotlight away from the latest batch of corporate earnings reports.
Futures for the S&P 500 were 0.2% lower before the bell, while the Dow Jones Industrial Average inched back just 0.1%. Nasdaq futures fell 0.3%.
Read MoreThe Burst
Buffett’s Final Chapter Begins
On May 3, Warren Buffett made headlines with the announcement that he will officially step down as CEO of Berkshire Hathaway at the end of 2025—a position he’s held since 1965. That’s a 60-year reign marked by one of the greatest investing track records in history. Under Buffett’s watch, Berkshire compounded returns at an astonishing 19.9% annually.
» Read more about: Buffett’s Final Chapter Begins »
Read MoreThe Ivy
What Does Buffett Know?
When the rest of Wall Street was riding the AI-fueled tech rally last year, the Oracle of Omaha was quietly doing the opposite, selling more stocks than he bought and stacking cash to the tune of a staggering $347 billion. While the S&P 500 was hitting fresh highs and investors were throwing money at growth stocks,
» Read more about: What Does Buffett Know? »
Read MoreThe Spotlight
Deep Dive, How High Will This New Bank Go?
Since SoFi’s CEO began snapping up shares of the student lender, the price has approximately doubled. It’s not entirely a surprise given that SoFi is an all-in-one fintech firm offering personal loans, home mortgages, car loans, credit cards, and digital banking. Over and above the broad array of products it’s grown like a weed on the customer front too.
» Read more about: Deep Dive, How High Will This New Bank Go? »