nasdaq

Published on 06/11/2025 – 20:47 GMT+1
•Updated
20:56

The Commission launched on Thursday an investigation into a potential collusion between the two stock exchange groups, Deutsche Börse and Nasdaq, in the market for derivative financial products.

At the heart of EU antitrust enforcer’s concerns is the potential coordination of their conduct in the listing, trading, and clearing of those derivatives, which, if proven, would be in violation of EU’s competition rules.

EU law encourage competition between different economic operators to ensure that prices are set fairly by the market, free from any collusion or abuse of dominant position.

In September 2024, the Commission carried out unannounced inspections at the premises of both financial groups, as permitted under EU rules.

It targeted their practices around financial derivatives, which are contracts whose value changes depending on the price of another asset, such as stocks or commodities.

“Deutsche Börse and Nasdaq entities may have entered into agreements or concerted practices not to compete,” the Commission said in a statement, “in addition, the entities may have allocated demand, coordinated prices and exchanged commercially sensitive information.”

A deal made in 1999

Deutsche Börse and Nasdaq are among the world’s largest stock exchange groups.

According to EU competition commissioner Teresa Ribera, such behaviours could also affect “the proper functioning of the Capital Markets Union – a cornerstone for innovation, financial stability and growth.”

The completion of the European Capital Markets Union — a barrier-free market for capitals aimed at reducing their costs for listed companies and improve investment conditions — is one of the priorities of Commission’s president Ursula von der Leyen.

If there was a collusion between Deutsche Börse and Nasdaq, it would constitute “an artificial barrier” on the EU market, Commission’s spokesperson Thomas Regnier told Euronews.

Deutsche Börse reacted in a statement saying : “We are engaging constructively with the European Commission.”

The stock exchange group explained that the Commission’s investigation concerned a 1999 deal, which Deutsche Börse considers “pro-competitive”.

“It aimed to build deeper liquidity in the respective Nordic derivatives markets and create efficiencies,” it argued, adding: “It provided clear benefits for market participants and was public.”

The 1999 deal was made between Deutsche Börse’s derivatives branch Eurex and the Helsinki Stock Exchange, which was acquired by Nasdaq in 2008, for the Nordic derivatives markets, it said.

Joel R Mogy Investment Counsel (JMIC) disclosed in an October 16, 2025, SEC filing that it sold 20,929 Adobe shares during Q3 2025.

This was an estimated $7.51 million trade based on the average price for Q3 2025.

What happened

Joel R Mogy Investment Counsel reported a reduction in its position in Adobe (ADBE 1.30%), selling 20,929 shares during Q3 2025.

The estimated value of the sale, based on the average closing price for Q3 2025, was approximately $7.51 million.

The position now stands at 50,664 shares as of Q3 2025, according to the firm’s SEC Form 13-F filed on October 16, 2025.

What else to know

The fund’s post-sale Adobe stake represents 0.98% of its $1.83 billion reportable U.S. equity AUM as of September 30, 2025, down from 1.60% in the previous period

JMIC’s top holdings after the filing:

1. Nvidia: $257.28 million (14.1% of AUM) as of September 30, 2025
2. Alphabet: $158.37 million (8.68% of AUM) as of September 30, 2025
3. Apple: $155.49 million (8.52% of AUM) as of September 30, 2025
4. Microsoft: $148.56 million (8.14% of AUM) as of September 30, 2025
5. Costco Wholesale: $91.43 million (5.0% of AUM)

As of October 15, 2025, Adobe shares were priced at $330.63, marking a one-year decline of 34.9% and underperforming the S&P 500 by 49 percentage points.

Company Overview

Company Snapshot

Adobe offers software solutions, including Creative Cloud, Document Cloud, and a suite of digital experience and publishing tools; primary revenue is generated through recurring subscription services.

It operates a cloud-based, subscription-driven business model, selling directly to enterprises and end users as well as through a global partner network.

The company serves content creators, marketers, enterprises, and creative professionals across industries worldwide.

Adobe Inc. is a leading global software company specializing in creative, document, and digital experience solutions.

Foolish take

Joel R Mogy Investment Counsel (JMIC) had been steadily accumulating shares over the last few years, with the firm having a 2.5% portfolio allocation in Adobe just two years ago.

However, the company has sold shares of Adobe in the last two quarters — and heavily in its latest quarter.

With Adobe’s stock down 52% from its all-time high, it certainly seems as though JMIC is worried about the long-term future of the company.

Adobe has become an artificial intelligence (AI) battleground stock lately. The market seems torn as to whether the AI revolution will empower — or completely disrupt — the company’s creative operations.

For instance, OpenAI recently launched its Sora 2 model that lets users create short video clips from text. It doesn’t take a wild leap to imagine how this could directly hinder Adobe’s video editing and software businesses.

That said, Adobe has grown sales by 11% over the last year and is seeing the professional use cases for its video capabilities remain as robust as ever. Furthermore, the company has its Adobe Firefly unit, which is its own generative AI offering for creators — so it’s not exactly being blindsided by peers like OpenAI.

Trading at just 15 times free cash flow, Adobe could be a tremendous value investment at today’s price, but it looks like JMIC doesn’t want to risk waiting to find out if the company gets disrupted or not.

Glossary

AUM (Assets Under Management): The total market value of all investments managed by a fund or investment firm.
Form 13-F: A quarterly SEC filing by institutional investment managers disclosing their equity holdings.
Q3: The third quarter of a company’s fiscal year, typically covering July through September.
Reportable U.S. equity assets: U.S. stocks and related securities that must be disclosed in regulatory filings.
Top holdings: The largest individual investments in a fund’s portfolio, usually ranked by market value.
Stake: The ownership interest or number of shares a fund or investor holds in a company.
Subscription-driven business model: A model where customers pay recurring fees for ongoing access to products or services.
Global partner network: A group of companies or organizations worldwide that help distribute or sell a firm’s products.
TTM: The 12-month period ending with the most recent quarterly report.

Argent Capital Management LLC pared its holding in Copart (CPRT 1.70%) by 1,262,984 shares during Q3 2025, an estimated $59.52 million trade based on the average price for the quarter, according to an SEC filing dated October 14, 2025.

What happened

According to its Form 13-F filed with the Securities and Exchange Commission on October 14, 2025 (see filing), the firm reduced its Copart position by 1,262,984 shares during Q3 2025.

The estimated value of the shares sold, calculated using the period’s average closing price, was $59.52 million. The fund reported a remaining position of 162,339 shares at quarter-end.

What else to know

This was a reduction in the Copart stake, which now represents 0.2% of the firm’s 13F reportable assets under management as of Q3 2025.

Argent’s top holdings after the filing:

• Microsoft: $251.95 million (6.9% of AUM as of 2025-09-30)
• Nvidia: $237.98 million (6.5% of AUM as of 2025-09-30)
• Amazon: $213.08 million (5.8% of AUM as of 2025-09-30)
• Alphabet: $194.75 million (5.3% of AUM as of 2025-09-30)
• Mastercard: $126.28 million (3.5% of AUM as of 2025-09-30)

As of October 13, 2025, Copart shares were priced at $44.07, down 20% over the one-year period ending October 13, 2025, underperforming the S&P 500 by 36 percentage points over the same time.

Company Overview

Company Snapshot

Copart provides online auctions and vehicle remarketing services, including virtual bidding, salvage estimation, and end-of-life vehicle processing across North America, Europe, and select international markets.

It operates a digital marketplace facilitating the sale and purchase of vehicles, generating revenue through transaction fees, service charges, and value-added offerings such as vehicle transportation and title processing.

The company serves insurance companies, banks, fleet operators, dealerships, vehicle dismantlers, exporters, and individual buyers seeking to acquire or dispose of vehicles efficiently.

Copart, Inc. provides online auctions and vehicle remarketing services internationally, leveraging advanced virtual auction technology to connect sellers and buyers of vehicles across multiple continents. With a scalable digital platform and a comprehensive suite of remarketing and logistics services, Copart enables efficient disposition of vehicles for institutional and individual clients alike.

Foolish take

While Argent Capital Management still holds a few shares of Copart, the firm all but sold out of its position, reducing its portfolio allocation in the stock from 2% to 0.2%.

Since the stock seemed to be a longer-term holding for Argent, this seems mildly worrisome to Copart shareholders — myself included.

Though it’s impossible to know what exactly prompted the firm to nearly liquidate its holdings in the company, Copart’s results have been underwhelming this year, causing its slightly expensive stock to slide 30% from its high.

After growing sales by 15% annually over the last decade, Copart’s revenue growth slid to 13%, 7%, and finally 5% over the previous three quarters.

Ultimately, I’ll have to disagree with Argent on Copart as I believe the company has a wide moat around its operations that will make it hard to disrupt.

That said, Copart still trades at 28 times earnings, even after this year’s drop, so Argent may have simply thought it had grown beyond its valuation as a more mature company.

Glossary

13F reportable AUM: Assets under management that must be disclosed by institutional investment managers in quarterly SEC Form 13F filings.
Form 13-F: A quarterly SEC filing by institutional investment managers listing their U.S. equity holdings.
Quarter (Q3 2025): The third three-month period of a company’s fiscal year, here referring to July–September 2025.
Transaction value: The total dollar amount generated by a specific buy or sell trade.
Stake: The ownership interest or investment a fund or individual holds in a particular company.
Assets under management (AUM): The total market value of investments managed on behalf of clients by a fund or firm.
Digital marketplace: An online platform where buyers and sellers conduct transactions for goods or services, such as vehicles.
Vehicle remarketing: The process of reselling used or end-of-lease vehicles, often through auctions or specialized platforms.
Salvage estimation: The process of assessing the value of damaged or end-of-life vehicles for resale or parts.
End-of-life vehicle processing: Handling and disposing of vehicles that are no longer operational, often for recycling or parts.
Value-added offerings: Additional services provided beyond basic transactions, such as transportation or title processing, to enhance customer value.
TTM: The 12-month period ending with the most recent quarterly report.

Oct. 6 (UPI) — The S&P 500 and the Nasdaq closed at record highs Monday after ChatGPT-maker OpenAI and Advanced Micro Devices reached a mega-deal that ignited a rally, despite the U.S. government shutdown entering its second week.

Chipmaker AMD shares closed 23.71% higher as the tech-heavy Nasdaq Composite rose 0.71% to end the day at a new record high of 22,941.67. The S&P 500 gained 0.36% to close at 6,740.28. Despite record closes for the Nasdaq and S&P, the Dow Jones Industrial Average dropped 0.1%.

AMD, one of Nvidia’s key rivals, announced earlier Monday it had agreed to a multi-year deal to supply chips to OpenAI, which could end-up taking a 10% stake in the chipmaker.

“Excited to partner with AMD to use their chips to serve our users!” Sam Altman, OpenAI co-founder and chief executive officer, wrote in a post on X.

“This is all incremental to our work with NVIDIA (and we plan to increase our NVIDIA purchasing over time),” Altman added.

Nvidia announced last month it would invest as much as $100 billion to help power OpenAI’s new AI models. After Monday’s news of the AMD-OpenAI deal, which boosted tech stocks and optimism for AI, Nvidia’s shares closed down 1%.

“The AI narrative continues to gain momentum,” said Louis Navellier, founder and chief investment officer of Navellier & Associates.

The deal “gives some competition for NVIDIA, which currently dominates AI chips, and accelerates the timeline for data center buildouts,” Navellier added.

OpenAI said it will deploy 6 gigawatts of AMD’s Instinct graphics processing units across multiple generations of hardware for the next few years. The first 1-gigawatt rollout of chips is expected to take place in about a year.

“We have to do this,” OpenAI president Greg Brockman told CNBC’s “Squawk on the Street.”

“This is so core to our mission if we really want to be able to scale to reach all of humanity, this is what we have to do.”

The tech-laden Nasdaq Composite index clocked impressive gains in the past decade, rising 374% during this period and outpacing the S&P 500 index’s jump of 240%. The disruptive nature of technology companies is a key reason why the Nasdaq has delivered above-average returns. Tech companies can grow at faster rates thanks to the innovation taking place in this sector. New products, services, and features can witness rapid adoption by customers, organizations, and governments, leading to robust revenue and earnings growth for tech stocks.

Taiwan Semiconductor Manufacturing (TSM 1.26%), popularly known as TSMC, enables innovation and disruption with its advanced chip manufacturing processes. Not surprisingly, TSMC stock has shot up a remarkable 12.5x in the past decade, significantly outpacing the Nasdaq Composite index’s jump.

Let’s look at the reasons why it has real potential to keep outperforming the Nasdaq Composite in the next 10 years.

Image source: Getty Images.

TSMC’s growth is likely to accelerate in the coming decade

TSMC is the world’s largest semiconductor foundry. According to Counterpoint Research, it controlled 35% of the global Foundry 2.0 market in the first quarter of 2025, growing its share by almost six percentage points from the year-ago period.

The Foundry 1.0 market is defined by pure chip manufacturing, while Foundry 2.0 includes ancillary services such as advanced packaging, assembly and testing, and photomasking. TSMC, which was a pure-play chip manufacturer earlier, has been expanding its expertise to offer Foundry 2.0 solutions to its customer base.

This explains why the company keeps gaining a bigger share of this market. TSMC established a massive lead over its rivals in the Foundry 2.0 space, with second-placed Intel controlling just over 6% of this market in the first quarter. Another thing worth noting is that the Foundry 2.0 market saw a 13% year-over-year increase in revenue in Q1 2025 to $72 billion, driven by the growth of artificial intelligence (AI) and high-performance computing chips.

TSMC’s advanced chip manufacturing processes are tapped by several fabless chip designers such as AMD, Nvidia, Broadcom, Sony, Apple, Qualcomm, and others, who don’t have manufacturing facilities of their own. These companies have been tapping TSMC’s 3nm (nanometer) and 5nm process nodes to fabricate AI chips that go into multiple applications ranging from data centers to consumer electronics devices to vehicles.

Specifically, 60% of TSMC’s revenue came from the high-performance computing (HPC) segment in the previous quarter, while smartphones accounted for 27%. The Internet of Things (IoT) and the automotive segment aren’t moving the needle in a significant way for the company right now. However, all these end markets are expected to clock healthy growth over the next decade, paving the way for secular growth at TSMC.

Deloitte, for instance, points out that the growth of AI is expected to lead to a 30x increase in data center power demand by 2035. This rapid surge will be driven by the construction of more data centers needed to tackle AI workloads. According to one estimate, AI-focused data center spending is expected to jump by almost 4x by 2030, which should allow TSMC to sell more of its advanced chips.

Meanwhile, the adoption of AI in other areas, such as robotics and the automotive industry, can create more lucrative growth opportunities for TSMC. In all, the AI chip market expects to clock an annual growth rate of close to 35% through 2035. TSMC’s solid share of the foundry market puts it in a solid position to make the most of this massive growth opportunity.

Product development moves should help it maintain its solid position

TSMC’s growth picked up impressively in the past couple of years on account of the AI boom.

Data by YCharts.

The company expects 30% revenue growth this year. It can sustain such impressive growth levels in the future as well, since it is focused on further advancing its manufacturing processes, which should enable it to maintain its healthy lead in this market. For example, TSMC is already constructing 2nm and A16 (1.6nm) chip fabrication facilities.

These new processes are expected to deliver significant performance and efficiency gains over the company’s current 3nm chip node. The 2nm process, for instance, is expected to deliver a 10% to 15% increase in performance while reducing power consumption by 20% to 30%. The A16 process is also expected to replicate such gains when compared to the 2nm process.

The improved performance of TSMC’s new chips should come in handy while tackling AI workloads in the cloud and in edge devices such as smartphones and personal computers. So, TSMC seems set to retain its lead in the foundry market in the future. As such, it is a no-brainer buy right now at 25 times earnings since its healthy financial performance can help this AI stock outpace the Nasdaq Composite’s gains over the next 10 years.

Investors have ridden an incredible recovery from the April 2 “Liberation Day” tariff surprises. Since the April 8 low, the Nasdaq Composite (^IXIC 1.88%) has appreciated an incredible 40%. And of course, that recovery has taken place amid a decade-long bull market in technology growth stocks.

It’s easy to understand why. Society is becoming more digital and automated. The last 10 years have seen the emergence of cloud computing, streaming video, digital advertising, the pandemic-era boom in electronic devices and work-from-home, all topped off by the introduction of generative artificial intelligence (AI) marked by the unveiling of ChatGPT in late 2022.

However, after a long tech bull market, technology growth stocks have reached a worrying valuation level relative to other stocks, and today’s relative overvaluation mirrors an infamous period in stock market history.

Echoes of the dot-com era?

In several ways, technology stock performance and valuations are currently mirroring the extremes of the dot-com boom of the late 1990s. Unfortunately, we all know how that period ended, with a terrible “bust” that sent the Nasdaq tumbling three years in a row, eventually culminating in a 78% drawdown from the March 10, 2000, peak.

QQQ data by YCharts.

How frothy are tech stocks?

Technology innovation can be very exciting; however, that excitement often finds itself in the form of high valuations. According to data published on Charlie Bilello’s State of the Markets blog, the technology sector’s recent outperformance has now exceeded that of the height of the dot-com bubble:

Image source: Charlie Bilello’s State of the Markets blog.

The relative outperformance isn’t the only mirror to the dot-com era. Back then, tech stocks also became very large, leading to an outperformance of large stocks relative to small stocks. Similarly, tech stocks are often growth stocks with high multiples, reflecting enthusiasm over their future prospects. This is in contrast to value stocks, which trade at low multiples, usually due to their more modest growth prospects.

As you can see below, the outperformance of large stocks to small stocks, as well as growth stocks to value stocks, is at highs last seen during the dot-com boom.

Image source: Charlie Bilello’s State of the Markets blog.

Is it time to worry?

Given that higher-valued tech stocks now make up a larger portion of the index, the Schiller price-to-earnings (P/E) ratio, which adjusts for cyclicality in earnings over 10 years, while not quite at the levels of 1999, has crept up to the highest level since 1999, roughly matching the level from 2021:

S&P 500 Shiller CAPE Ratio data by YCharts. CAPE Ratio = cyclically adjusted P/E ratio.

As we all know, 2022 was also a terrible year for tech stocks. While it didn’t see a multiyear crash akin to the dot-com bust, 2022 saw the Nasdaq decline 33.1% on the year. Of course, at the end of 2022, ChatGPT came out, somewhat saving the tech sector as the AI revolution kicked off.

Counterpoints to the bubble thesis

Thus, when compared to history, tech stocks are at worrying levels. Given the similarities to the 1999 dot-com bubble and the 2021 pandemic bubble, some may think it’s time to panic and sell; however, there are also a few counter-narratives to consider.

The first is that, unlike in 1999, today’s technology giants are mostly truly diversified, cash-rich behemoths that account for a greater and greater percentage of today’s gross domestic product (GDP). While the late 1990s certainly had its leaders — including Microsoft (MSFT 0.56%), the only market leader that is in the same position today as then — they weren’t really anything like today’s tech giants, with robust cloud businesses, global scale, diversified income streams, and tremendous amounts of cash.

While market concentration in the top three weightings tends to occur before market downturns, index weighting concentration appears to be somewhat of a long-term trend now, increasing beyond prior highs in 1999 and 2008 since 2019.

Image source: Charlie Bilello State of the Markets blog.

Thus, it seems a higher weighting of the “Magnificent Seven” stocks could be a feature of today’s economy, rather than an aberration.

While it’s true that some of today’s large companies are overvalued, given their underlying strength and resilience, it’s perhaps not abnormal for them to garner higher-than-normal valuation multiples.

What investors should do now

It’s important to know that while taking note of market levels is important, it is extremely difficult to time market downturns. Famed investor Peter Lynch once said, “Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves.”

So, one shouldn’t abandon one’s long-term investing plan just because overall market levels may be frothy. That being said, if you need a certain amount of cash in the next one to two years, it may be a good idea to keep that money in cash or Treasury bills until then, rather than the stock market.

Furthermore, if you have a regular, methodical investing plan, stick to it. But if you are consistently adding to your portfolio every month or quarter, you may want to look at small caps, non-tech sectors, and value stocks today, rather than adding to large technology companies.

By&nbspEuronews&nbspwith&nbspAP

Published on 13/08/2025 – 12:38 GMT+2
•Updated
12:54

ADVERTISEMENT

Shares charged higher in Europe and Asia on Wednesday after US stocks hit new records when data that showed inflation across the United States improved slightly last month.

Tokyo’s benchmark Nikkei 225 added to its record set a day earlier.

The future for the S&P 500 was up 0.2%, while that for the Dow Jones Industrial Average was little changed.

A recent rally in share prices has been driven partly by relief over an extended truce in President Donald Trump’s trade war with China, and partly by persisting hopes the Federal Reserve will cut interest rates. Those were reinforced by a moderation in the consumer price index in July.

Germany’s DAX rose 0.8% to 24,207.78 and the CAC 40 in Paris picked up 0.4% to 7,784.63. Britain’s FTSE 100 edged 0.1% higher, to 9,157.26.

Asian markets

“Asia woke up in full risk-on mode, riding the coattails of a US session that looked like someone hit the ‘infinite bid’ button after CPI didn’t blow the inflation doors off,” Stephen Innes of SPI Asset Management said in a commentary.

China and the US agreed to a 90 day extension, from 12 August, of their pause in drastically higher tariff rates on each others’ exports to allow more time for talks on a broad trade agreement. Although uncertainty over what the negotiations will yield remains, the truce has relieved pressure on companies and countries across Asia that rely heavily in supply chains routed through China.

Hong Kong’s Hang Seng surged 2.6% to 25,613.67, while the Shanghai Composite index added 0.5% to 3,683.46.

In Japan, relief over the Trump administration’s confirmation that its exports will face a flat 15% US import duty has driven strong buying of computer chip-related companies and other exporters.

The Nikkei 225 gained 1.3% to 43,274.67.

Elsewhere in Asia, South Korea’s Kospi advanced 1.1% to 3,224.37. In Australia, the S&P/ASX 200 shed 0.6% to 8,827.10.

Taiwan’s Taiex was up 0.9% and the Sensex in India gained 0.5%. In Bangkok, the SET climbed 1% after the Bank of Thailand cut its key interest rate by 0.25 percentage points to 1.5%.

US markets

On Tuesday, the S&P 500 rose 1.1% to top its all-time high set two weeks ago. It closed at 6,445.76.

The Dow Jones Industrial Average climbed 1.1% to 44,458.61, while the Nasdaq composite jumped 1.4% to set its own record of 21,681.90.

The better-than-expected report on inflation raised hopes the Federal Reserve will have the leeway to cut interest rates at its next meeting in September.

Tuesday’s report said US consumers paid prices for groceries, gasoline and other costs of living that were overall 2.7% higher in July than in the previous year. That’s the same inflation rate as June’s, and it was below the 2.8% that economists expected.

Lower rates would give a boost to investment prices and to the economy by making it cheaper for US households and businesses to borrow to buy houses, cars or equipment. President Donald Trump has angrily been calling for cuts to help the economy, often insulting the Fed’s chair personally while doing so.

The Fed has hesitated, worried that Trump’s tariffs could make inflation much worse.

The Fed will get one more report on inflation and another on the US job market, before its next meeting, which ends 17 September. The most recent jobs report was a stunner, coming in much weaker than economists expected.

Critics say the broad US stock market is looking expensive after its surge from a bottom in April. That’s putting pressure on companies to deliver continued growth in profit.

In other dealings early Wednesday, US benchmark crude oil dropped 26 cents to $62.91 per barrel. Brent crude, the international standard, declined 20 cents to $65.92 per barrel.

The U.S. dollar fell to 147.24 Japanese yen from 147.84 yen. The euro climbed to $1.1727 from $1.1677.

July 21 (UPI) — Two U.S. stock indexes — Standard and Poor’s 500 and Nasdaq Composite 500 — ended trading Monday with record highs as companies release earnings this week, though investors brace for U.S. tariff increases.

The S&P 500 hit a high of 6,305.60 with a rise of 8.81 points, or 0.6%, above the record 6,297.36 set Thursday. The tech-heavy Nasdaq reached 20,974.18, a rise of 78.52, or 0.38%, after a record 20,895.66 on Friday.

The blue-chip Dow Jones Industrial Average ended the day with a loss of 19.12 points, or 0.04%, to reach 44,323.07 and off the record 45,073.63 on Dec. 4. The index’s high this year was 45,008.75 on Jan. 30, 10 days after Donald Trump took office for his second term.

DJIA was in the green during the day with the other indexes higher.

Morgan Stanely Chief U.S. Equity Strategist Mike Wilson forecasts the S&P will climb to 7,200 points by mid-2026 in a report by USA Today.

The Magniciant Seven technology stocks have not released data yet with sixt of them rising Thursday Apple (0.62%0, Alphabet (2.8%), Amazon (1.43%), Meta (1.23), Microsoft (0.002%).

Declining were Nvidia (0.6% and Tesla (0.35%).

Tesla, with a stock price of 329.49 is down 13.39% year to date. The stock slumped to 221.86 on April 8, but over five years Tesla is up 247.72%.

The 11 CNBC technology sectors ended trading within a small range — from Consumer Discretionary up 0.6% to energy down 0.96%.

Earnings reports have already been strong.

Verizon’s stock price climbed 5% after posting better-than-expected earnings and revenue, and finished with a rise of 4.04%. Of the 62 S&P companies that have reported, more than 85% beat expectations, according to FactSet data as reported by CNBC.

Earnings for the second quarter, which ended June 30, are tracking 5% over one year, according Bank of America.

“Rarely do you injure yourself falling out of a basement window,” Sam Stovall, chief investment strategist at CFRA Research, said to CNBC. “With expectations so low in earnings, I think that the end result will end up being better than anticipated. That is encouraging for the market, as well.”

Stoval said he believes the S&P could hit 6,600 before declining.

“A lot of the negativity has typically been shaken out of the market during these corrections, and now we’re seeing articles about maybe the economy is not as bad as we thought it was, consumer confidence is on the mend and we’re not seeing the inflation numbers be adversely affected by tariffs,” he said. “Maybe it’s just a matter of time before those things kick in, but at least for now, I think investors are saying, ‘You know what, the market is indicating that it wants to go higher.'”

Dan Greenhaus at Solus Alternative Asset Management was more cautious. He told Bloomberg News: “Given the better-than-expected inflation and economic data — not to mention corporate commentary which thus far has been pretty good — I’m not sure I’d put too much stock in the technicals right now.”

Stocks lately haven’t been volatile, especially compared with April. Before trading this week, the S&P went 17 sessions without a move of more than 1% in each direction.

Trump threatened tariffs on the April 2 “Liberation Day” of across-the-board tariffs on most U.S. trading partners and much higher for offenders.

Indexes then tumbled to lows this year and the bond market was battered. On April 8, the S&P was down 17.5% to 4,982.77, Nasdaq went into a bear market with a decline of 23.4% to 15,267.93 and DJIA off 15.4% 37,645.59.

Then a day later, Trump paused the reciprocal tariffs to July 9. Last week, Trump announced new figures on 25 countries, including 50% against Brazil, 35% against Canada, 30% against the 29 European Union nations, 30% on Mexico.

Deals have been reached with some nations, including Britain, China and Vietnam.

Looming is the Aug. 1 trade deadline for countries to begin paying higher tariffs. Commerce Secretary Howard Lutnick told CBS News‘ Face the Nation on Sunday it is a “hard deadline.”

“That’s gotten these countries to the table, and they are going to open their markets or they’re going to pay the tariff,” Lutnick said.

The U.S. economy has been in good shape as the U.S. unemployment fell to 4.1% in June. Consumer prices rose 2.7% over one year, up 2.4% from the previous month. Transportation services were up 3.4%, food at 3%, and uses and trucks as 2.8%, according to Trading Economies. Specifically, energy costs decline by a smaller margin than the previous month.

“I think you’re going to see inflation stay right where it is,” Lutnick said. “Americans can expect ‘shockingly low’ prices.

The federal fund rate remained at a target range of 4.25% to 3.5% after its the Federal Reserve’s June 17 and 18 meetings.

The Fed’s last rate change was a 25 basis point reduction on Dec. 18.

Trump has been pressuring Chairman Jerome Powell to lower the rates. But Powell is urging caution and said a reduction could spur inflation and slow economic growth.

The U.S. 10-year Treasury was down to 4.382%.

Gold COMEX for August traded at 3,410.30, a rise of $52, which is below the record 3,452.80 on June 13.

West Texas Intermediate Crude for August settled at $67.00, a decline of 34 cents. On May 5, it was $57.13, the lowest since January 2021. One ounce of gold had a high of $80.04 on Jan. 15.

The price of a gallon of unleaded gasoline was averaging $3.14 nationwide, down a penny from last week, according to AAA on Monday. One year ago it was $3.50.

July 10 (UPI) — The Nasdaq Composite and S&P 500 each established record highs, while the Dow made significant gains on Thursday following the potential 50% tariffs on copper and Brazilian imports.

The S&P 500 was up by about 22 points and 0.4% at a record high 6,289.15 during afternoon trading after opening at 6,266.80. It closed at 6,280.46, which was up 17.20 and 0.27% for the day.

The Nasdaq Composite also reached a record high on Thursday and was trading at 20,646.66 during the afternoon, which was up 34.07 and 0.17%. It closed at 20,630.66.

The Dow closed at 44,458.30 on Wednesday and briefly traded above 44,770 during the afternoon hours.

The market rallies continue a months-long climb for the stock market and occurred a day after President Donald Trump announced 50% tariffs on copper and products sourced in Brazil on Aug. 1.

Thursday’s rally also happened a day after tech firm Nvidia became the world’s first company to top $4 trillion in market capitalization.

Nvidia produces chips that drive artificial intelligence.

Published on
04/07/2025 – 10:57 GMT+2

ADVERTISEMENT

The AI chipmaker Nvidia’s shares hit a new all-time high on Thursday, briefly giving the company a market capitalisation of $3.92 trillion (€3.33tn), the highest in history for any company.

This surpassed Apple’s record of $3.91tr set in December 2024, even though Nvidia’s market capitalisation dipped once again below this level at market close. 

The chipmaker’s shares traded as high as $160.98 at their peak on Thursday, before the price dipped below this level, placing the market capitalisation at around $3.89tr when daily trading wrapped up.

Tech companies’ shares benefitted from a better-than-expected nonfarm payrolls report in the US, an indicator of a resilient US economy.

This optimism was boosted by forecasts that businesses would continue to spend on AI advances, boosting demand for AI chips.

Nvidia shares are up more than 50% in just less than two months. Analysts expect that the company will break the valuation record soon and retain its elevated share price by the close of the trading day.

“Chip giant Nvidia is on track to achieve a new closing high,” said Dan Coatsworth, investment analyst at AJ Bell, adding that the “AI revolution is still intact”.

AJ Bell head of financial analysis Danni Hewson added that, “After all the gloomy predictions that this might be the year the AI bubble bursts, Nvidia’s found another gear. The chipmaker is on track to smash a coveted record and become the world’s most valuable company ever.”

The value of Nvidia currently is more than three times the total market capitalisation of the stock market in Spain and more than four times that of the Italian stock exchange.

June 27 (UPI) — The Standard & Poor’s 500 and Nasdaq Composite on Friday rose to record highs nearly three months after plunging to bearish stock prices amid tariff wars.

The S&P finished at 6,173, an increase of 32.05, or 0.52% at the close of trading at 4 p.m. EDT. The previous all-time high closing price was 6,144 on Feb. 19. The index dropped to 4,982.77 on April 8, six days after Donald Trump announced trading tariffs on virtually all U.S. trading partners. That low point was 19% off the record with a bear market considered to be 20%.

Tech-heavy Nasdaq finished at 20,273, a rise of 105.55, or .52%. The last all-time high was 20,173.89 on Dec. 16. The year’s low was April 8 at 15,267, a decline of 24.5% from the record.

The Dow Jones Industrial Average ended the day at 43,819.27, a rise of 431.43 or 1%. DJIA hit a record of 45,014.04 on Dec. 4 and was down to 37,645.59 on April 8. The high this year was 44,882.13 on Jan. 30th, 10 days after Donald Trump became president.

All but two of CNBC’s 11 sectors declined. Energy dropped 0.5% and health 0.17%. The biggest increases were consumer discretionary at 1.78% and communications services at 1.55%.

Stocks had been trading higher Friday until Trump posted on Truth Social that trade talks with Canada were terminated.

“We have just been informed that Canada, a very difficult Country to TRADE with, including the fact that they have charged our Farmers as much as 400% Tariffs, for years, on Dairy Products, has just announced that they are putting a Digital Services Tax on our American Technology Companies, which is a direct and blatant attack on our Country,” Trump posted.

“Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective immediately,” he said. “We will let Canada know the Tariff that they will be paying to do business with the United States of America within the next seven day period.”

The United States has imposed a 25% tariff on non-compliant Canadian goods, including vehicles, with energy products subject to a 10% tariff. Also, Canada was hit by the 50% tariff on steel and aluminum imports like other nations. Canada has retaliated with its own tariffs.

Products involved in the U.S.-Mexico-Canada Agreement are exempted.

Investors were buoyed after Commerce Secretary Howard Lutnick said a trade framework with China had been finalized. At one time, Trump imposed a 134% tariff but it has since been cut to $30.

Lutnick said he expects deals with 10 trading partners soon.

On “Liberation Day” on April 2, Trump said he would impose a baseline 10% tariffs on most trading partners and stiffer ones for big violators. A week later, he paused them until July 7 and that date might be extended.

“I can see where the risks are here — if the trade [progress] is just hype from the White House and no deals are really forthcoming, then this market is going to roll over,” Thierry Wizman, global FX and rates strategist at Macquarie Group, told CNBS. “Ultimately, this all comes back to growth in the U.S. economy and growth of earnings.”

“We think the recovery makes sense, considering that most large-cap companies should weather the tariffs reasonably well,” David Lefkowitz, head of U.S. equities at UBS Global Wealth Management, told investors in a note. “In fact, we think the upcoming [second-quarter] earnings season will once again highlight the resilience of corporate profits.”

Vital Knowledge analyst Adam Crisafulli sees possibly bumpy times.

“We think there’s a dangerous amount of complacency on trade/tariffs, a view underscored by the fact markets this morning are celebrating the China ‘deal’ for a third time,” Crisafulli said in a report.

The records come days after Trump brokered a cease-fire between Israel and Iran.

Oil prices surged before the U.S. bombed three nuclear targets in Iran. West Test Intermediate crude climbed to $74.14 a barrel after being as low as $57.13 on May 13. On Friday, crude oil settled at 65.07, up 17 cents from the day before.

One year ago, it reached nearly $84.

The average price for unleaded gas in the United States is $3.207, a penny down from last week and $3.503 one year ago, according to AAA.

Investors are also pleased with good economic data.

Inflation rose 2.4% in May over one year.

The unemployment rate 4.2% and has been at this level since May 2024.

The Federal Reserve has not raised interest rates since Dec. 18. The Federal Funds Rate is 4.25% to 4.50%.

Federal Reserve Chairman Jerome Powell has described a “wait-and-see” approach to interest rate adjustments, describing the need for more data. The next meeting is July 29 and 30.

May 27 (UPI) — Human genetics testing firm 23andMe announced Tuesday it will voluntarily delist from the Nasdaq and deregister with the U.S. Securities and Exchange Commission after filing for Chapter 11 bankruptcy protection earlier this year.

23andMe, known for its at-home DNA testing kits and genetic profiles, said it will file a Form 25 Notification of Delisting with the SEC “on or about June 6,” according to a company statement. Once the Nasdaq delisting becomes effective, the company will file a Form 15 to deregister with the SEC.

“As Nasdaq has not yet made the filing, the company is doing so voluntarily to permit it to file a Form 15 to deregister with the SEC,” the company said Tuesday.

23andMe announced in March that it would seek Chapter 11 proceedings in order to facilitate a court-supervised sale of its assets, as the California-based genetics company struggled financially after announcing it would cut its workforce by 40%.

“After a thorough evaluation of strategic alternatives, we have determined that a court-supervised sale process is the best path forward to maximize the value of the business,” Mark Jensen, chair and member of the Special Committee of the Board of Directors, said in March.

Last week, Regeneron Pharmaceuticals acquired the right to purchase “substantially all” of 23andMe’s assets after winning a bankruptcy auction in a deal worth $256 million. At its peak, the company was valued at around $6 billion. The transaction still needs to be approved by the U.S. Bankruptcy Court for the Eastern District of Missouri, as well as other regulators.

“23andMe is a pioneer in consumer genetics and research, and we are excited for the opportunity to support their important mission and grow their platform and business,” Regeneron senior vice president Aris Baras said in a statement on May 19.

“We assure 23andMe customers that we are committed to protecting the 23andMe dataset with our high standards of data privacy, security and ethical oversight and will advance its full potential to improve human health,” Baras added.

Two years ago, the company disclosed that hackers had stolen ancestry and personal data from 6.9 million 23andMe customers. The leak included DNA data, birthdates, locations and profile photos. It spread to millions of other users through the DNA Relatives feature that provided information on account holders and their relatives.

According to an SEC filing in October 2023, 23andMe predicted a loss of between $1 million and $2 million in “onetime expenses” related to the breach.