Author: PAZAMBA

Coinbase has confirmed an ongoing investigation by the U.S. Securities and Exchange Commission (SEC) into whether it overstated its user numbers, which the company claims to be over 100 million. This led to a drop in Coinbase’s stock by 6%. The company has been under pressure due to a hacking incident which is expected to cost Coinbase up to $400 million.

Despite operational issues at Coterra Energy which led to a 9% fall in its stock, overall stocks are rising with the S&P 500 heading towards its fourth consecutive gain and the Nasdaq Composite aiming for its seventh straight positive session. Major companies like Cisco Systems, Walmart and Deere posted better-than-expected earnings which boosted market sentiment.

CoreWeave shares remained flat despite the CEO confirming plans to spend on growth. The company announced plans for a capex of $20 billion to $23 billion for the year, which topped a $4.61 billion estimate for the year from analysts. The stock ended up slightly by 5%.

Major stock indexes like the S&P 500 had a strong week, rising more than 4%, the Dow Jones Industrial Average grew nearly 2%, and the Nasdaq Composite rose over 6%. Individual stock movements were also positive with Nvidia shares turning positive for the year.

D1 Capital, overseen by Dan Sundheim, dumped heavyweight tech and media giants like Meta Platforms and Spotify shares worth over $140 million each in the first quarter. However, it picked up new positions in food and financial stocks such as Charles Schwab and Bank of America, with holdings worth nearly $341 million and roughly $304 million respectively.

It’s worth noting that the Dow, S&P, and Nasdaq numbers were not provided in the article provided.

The stock market was mixed on May 15, with some stocks experiencing significant price fluctuations due to various news impacts. Walmart saw a slight drop in its shares by 1% as the company’s first-quarter revenue fell slightly short of expectations, despite an earnings beat. The retailer expressed concerns about a potential hike in prices due to tariffs.

Shares of UnitedHealth plunged by 15% following Wednesday’s report that the company is being investigated by the Department of Justice for potential Medicare fraud. The company’s shares have lost almost half their value this year following a string of setbacks.

The sporting goods retailer, Dick’s, saw its shares tumble by 14% after it announced plans to acquire rival Foot Locker for $2.4 billion. In contrast, Foot Locker’s shares rallied by 85% on the announcement.

Shares of the financial technology stock Fiserv plummeted 13% as its second-quarter growth fared similarly to the first quarter’s pace. Meanwhile, shares of the network technology company Cisco surged nearly 6% following better-than-expected third-quarter earnings.

CoreWeave, an artificial intelligence infrastructure company, saw a 5% surge in its share prices post its earnings report. Likewise, the retailer Boot Barn’s shares rose almost 17%, despite missing fiscal fourth-quarter estimates.

Reports from CNBC suggest fatigue among retail investors, indicating limited opportunities for upward movement in U.S. equities. The uncertainty from President Donald Trump’s tariff policies has had a significant impact on the start of the year with the S & P 500 tumbling 18.9% between February and early April. Since then, the index has climbed 18.5%, while the Dow Jones Industrial Average and Nasdaq Composite have respectively fallen 1.5% and 1.6% this year.

The stock market today saw mixed performance. Nvidia experienced a notable surge, climbing into positive territory for the year. It observed more than 4% growth in today’s session, raising its weekly gain to over 15%, marking a 0.7% increase for the year. This rise comes after an announced deal with Saudi Arabia to sell over 18,000 AI chips, which could potentially offset any hit from shipping constraints on goods going to China. Alongside Nvidia, Meta Platforms and Microsoft are in the green for 2025 with a year-to-date performance of 12.7% and 7.2% respectively.

The S&P 500 showed muted activity, with investors monitoring ongoing trade relations with China and significant trade agreements in the Middle East, particularly concerning artificial intelligence infrastructure. The aerospace and defense sectors noted considerable gains, with companies like Boeing and GE Aerospace sealing notable deals with Qatar Airways. Honeywell’s quantum computing company, Quantinuum, also finalized a joint venture with a Qatari firm, which might support its future plans to go public.

Capital One is facing a lawsuit from the New York Attorney General, accusing the bank of misleading customers about interest rates on savings accounts. However, this lawsuit is not expected to impact the upcoming merger with Discover Financial, scheduled for completion on May 18.

Truist suggests investing in dividend-paying regional bank stocks, despite the advantages of larger banks. The SPDR S&P Regional Banking ETF has seen gains for four consecutive weeks, with a 5% increase this week, albeit it is still down nearly 2% year-to-date.

The 2024 Sohn Investment Conference held in New York presented multiple investment opportunities. Alexandra Engler of Arene Capital pitched chemical company Celanese as top pick primed for gains. Kristov Paulus from Kultura Capital Management recommended Robinhood, banking on its growth catalysts. Connie Lee of Felis Advantage suggested nCino, a fintech company that provides cloud-based software for banks and financial institutions. Joseph Talia from VictoryArc Holdings proposed the Tel-Aviv Stock Exchange as a potentially valuable under-the-radar investment.

The performance of industrial stocks Honeywell and Dover has significantly improved since the recent easing of trade tensions between the U.S. and China. The companies anticipate reduced tariff exposure due to the temporary reduction in duty rates. Honeywell expects the net impact of tariffs to remain zero after offsetting the imposed tariffs with price escalations and supply chain modifications. Meanwhile, Dover maintains a beneficial position due to its large manufacturing footprint in North America and domestic sales. The company also plans to re-shore a product line made in China by the year-end.

Microsoft is reducing 3% of its workforce, leading to 6,000 layoffs across various departments and levels. It is the company’s largest round of layoffs since 2023. The layoffs are not performance-related; rather, they aim to decrease managerial levels at Microsoft.

In the fintech sector, Chime, a digital banking firm has initiated the process to go public on the Nasdaq and has clarified that it is a technology company, not a bank. The company reported $518.7 million in revenue with 8.6 million active members in the first quarter. It plans to go public under the ticker symbol “CHYM”. Meanwhile, shares of brokerage platform eToro saw a 30% increase in their Nasdaq debut. The Israel-based company raised nearly $310 million from its IPO, shooting its market cap up to $5.6 billion.

In stocks, Incyte, KKR, and Chipotle all present strong bottoming patterns, indicating potential for higher growth despite recent under-performance. As per CNBC’s Pro contributors, it is an indication of expected broad participation in the market and possible sustainable rallies.

And finally, GE Vernova, the recent addition to Jim Cramer’s Charitable Trust’s portfolio saw an almost 4% rise since its addition. The shares of the company are expected to be bought on a downward price movement, as per Jim Cramer. The club has also got its eye on Capital One’s deal with Discover, expected to close on May 19.

1. Airbnb unveiled a redesigned app to increase its service offerings beyond home bookings, including catering and personal training. The changes come after the company’s shares dropped due to disappointing revenue guidance from macroeconomic uncertainties and travel softness amid the pandemic.

2. Nvidia’s agreement to sell around 18,000 AI chips to Saudi Arabian AI startup Humain has significantly impacted the chip giant’s stock, with shares jumping over 6%. This deal is a continuation of Nvidia’s efforts to broaden its customer base beyond American tech companies like Microsoft, Amazon, Meta Platforms, and Alphabet. The AI chips will be used in Humain’s future data centers, contributing to Saudi Arabia’s aggressive push towards economic diversification from oil.

3. Major market shifts include Nvidia and Boeing witnessing a jump in shares, with Nvidia benefitting from its deal with Saudi Arabia’s Humain and Boeing seeing benefits from reported lifted ban on Boeing in China. However, UnitedHealth Group’s stock tumbled by 16% due to the announcement of CEO Andrew Witty’s resignation and withdrawal of its 2025 guidance. Caterpillar also experienced a share boost after an upgrade by Baird.

4. Coinbase’s shares surged by 22% following the announcement that it will replace Discover Financial Services in the S&P 500 index prior to trading on May 19. Other significant market movers include First Solar, due to an upgrade by Wolfe Research, Hertz Global Holdings with a 15% slump after underwhelming Q1 results, and Caterpillar with a share boost from Baird’s upgrade.

5. Following a temporary agreement to reduce tariffs between the US and China, the Dow Jones Industrial Average closed up 1,160.72 points or 2.81%, the S&P 500 progressed by 3.26%, and the Nasdaq Composite rose by 4.35%. However, the exact impact of President Trump’s new executive order aiming to lower prescription drug prices is still uncertain. In other trade news, the US collected a record $16.3 billion in customs duties in April due to Trump’s tariffs. Lastly, UnitedHealth’s CEO, Andrew Witty, is stepping down for personal reasons, leading to a 16% drop in the company’s stock.

In a significant financial fraud case, Peter Coker Jr. has been sentenced to 40 months in prison for his role in artificially inflating the stock share prices of deli owner Hometown International and E-Waste. The scheme led to a market capitalization of $100 million for Hometown International despite it owning only a small money-losing deli in South Jersey. Meanwhile, E-Waste had an even larger market cap, despite having no business operations.

In the stock market, Coinbase shares soared over 22% representing its sharpest rally since President Trump’s election victory due to the crypto exchange’s inclusion in the S&P 500. Inclusion often results in an increase in value as funds aligned with S&P 500 will add the company to their portfolios.

In contrast, Hertz Global saw its shares plummet by over 20% following disappointing first-quarter results and a $250 million stock offering. During the earnings call, the embattled rental car company also announced a strategy to offer fewer cars for rent due to lower bookings and impacts from Trump’s auto tariffs.

In broader market news, Nvidia’s shares rose by more than 5.5% after securing a deal to supply AI chips for Saudi data centers. This news followed an announcement by President Trump that Saudi Arabia will invest $600 billion in the U.S., including $14 billion in products from GE Vernova and $5 billion from Boeing.

Senate Minority Leader Chuck Schumer has announced his intention to block Department of Justice political nominations in protest of President Trump’s plans to accept a $400 million luxury jet from Qatar.

China perceives the recent US trade deal as a significant victory with minimal concessions. The 90-day tariff pause and initial agreement have allowed tariffs on both sides to drastically reduce, generating praise from the Chinese public and media. To prevent reciprocal tariffs, US and China have agreed to temporarily halt the majority of tariffs on each other’s goods – a decision that has various implications for the stock market.

The semiconductor firms Broadcom and Nvidia, e-commerce giant Amazon, and tech conglomerate Apple are among the significant beneficiaries of eased US-China trade tensions. Broadcom shares rose by over 5.5% due to the firm’s substantial business in China, with the country accounting for 20% of its overall revenue last year. Similarly, Nvidia saw a nearly 5% increase in shares, and Amazon experienced nearly an 8% surge in its stock. It should be noted, however, Jim Cramer cautioned against chasing this rally due to the risk of potential selling pressure.

Meanwhile, a technical glitch in Fidelity investments prevented some investors from accessing their accounts on the day of the market rally – an issue that may have been particularly challenging for day traders, institutional investors, and options investors.

Returns in the market’s trust in President Trump came with hopes that the US-China trade deal will prevent potential damage to the stock market. However, investing conditions remain cautious, as uncertainties surrounding the negotiations persist.

Lastly, the strong rally led by the US-China agreement to cut tariffs saw major averages rally across the board, boosting optimism among investors and reducing fears of a prolonged trade war.

Stock futures soared on May 12 following the announcement that the U.S. and China agreed to temporary tariff cuts. The S&P 500 is expected to open 3% higher, the Dow is set to increase by roughly 1,100 points, and the Nasdaq 100 may open up by 4%.

However, pharmaceutical stocks are underperforming due to anticipation of President Trump’s proposal to lower U.S. drug prices. Stocks such as Pfizer, AbbVie, Merck, and Eli Lilly are currently lower. Companies most likely to benefit from eased trade tensions include those that manufacture goods in China for sale in the U.S.

Pharmaceutical stocks also experienced volatility, with initial losses recovering later in the day after fears regarding the executive order on drug prices seemed less severe than initially anticipated. Merck’s shares rose 5%, with Pfizer, Bristol-Myers Squibb, and Eli Lilly gaining more than 2% each.

Tech stocks, including Amazon and Tesla, which had been seeing declining sales in China, each rose about 7%. Apple shares increased more than 5%.

Retail stocks experienced a significant boost following the U.S.-China tariff agreement announcement. Five Below and RH both soared about 17%, while Nike, Lululemon, and Estée Lauder rose by around 7%.

Carvana, a used-auto retailer whose share price had previously dropped significantly, has been executing well, with a 38% year-over-year revenue increase. The company’s shares are up 34% this year as used car prices rise and demand for value-oriented service offerings heat up.

Chinese stocks also gained, with e-commerce giants PDD Holdings and Alibaba each rising more than 6%, and tech giant Baidu surging 5%.

NRG Energy gained about 23% following an announcement that it plans to acquire a power portfolio from LS Power for $12 billion that consists of natural gas generation facilities across nine states.

The top performers in S&P Industrials in the current market environment, with the sector leading the pack in terms of headcount. However, very few top stocks exist in materials, real estate, and energy sectors.

The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite ended the week down due to uncertainty and trade war fears between US and China. The Dow Jones decreased by 119.07 points, or 0.29%, settling at 41,249.38. The S&P 500 dropped slightly by 0.07%, closing at 5,659.91. The Nasdaq Composite closed almost unchanged at 17,928.92.

Throughout the week, the S&P 500 slid about 0.5%, the Nasdaq dropped roughly 0.3%, and the Dow fell nearly 0.2%. The expectations around upcoming US-China trade talks and changes in tariff rates introduced volatility into the market. The tariff on China could potentially be reduced to 80%, as reported by President Trump, which is a de-escalation from the current 145%.

Big movers of the week included shares of Pinterest, which surged due to a positive quarterly revenue outlook, which motivated hopes of strong ad spending on the platform despite tariff risks. However, Expedia’s stock price slid because of missed revenue estimates due to decreased US demand. In addition, Berkshire Hathaway stock dropped about 5% after the approval of Greg Abel as Warren Buffett’s successor starting in 2026.

Tesla also experienced a dip of 1.8% in its shares as the company’s new car sales in Britain and Germany fell to their lowest in over two years. Goldman Sachs shares dipped 1.8%, pulling the Dow down.

While the trade negotiations continue and the trade war escalates, the market is expected to experience ongoing volatility until concrete agreements are reached.

The Dow Jones Industrial Average rose around 0.6%, or roughly 250 points, the S&P 500 climbed around 0.6%, and the Nasdaq Composite grew roughly 1% as the US stock market rallied in response to President Trump’s unveiling of a US-UK trade deal and indications of upcoming China discussions. Notably, the UK talks resulted in the potential for billions of dollars of increased market access for American exports. The US will reduce tariffs on auto and steel imports, but a 10% tariff on UK imports remains.

Unremarkable performances marked the following day as the Dow Jones grew 0.7%, or approximately 300 points, the S&P 500 ticked up 0.4%, and the Nasdaq Composite edged up around 0.3%. Alphabet’s 7% drop weighed on the Nasdaq, while the Dow was spurred by a 10% increase in Disney stock. The Federal Reserve’s decision to maintain interest rates also factored into these changes.

Despite this positive movement, talks between China and the US indicate that the S&P 500’s 13% rally since April 8 could be nearing its end. Other factors affecting the market next week will include inflation data with the April consumer price index set to release on Tuesday. Regarding earnings, major reports including Walmart and Alibaba are yet to release. Currently, S&P 500 earnings report beat estimates at an above-average rate even as analysts slash their expectations.

Lastly, the Dow Jones added 254.48 points, or 0.62%, settling at 41,368.45, the S&P 500 grew 0.58% to reach 5,663.94, and the Nasdaq Composite increased 1.07% to close at 17,928.14. Stocks increased after Trump announced a trade deal framework between the U.K. and the U.S. Significant contributors included Alphabet and Boeing shares, which increased nearly 2% and 3% respectively. However, concerns remain about a potential global trade war, which could increase prices and worsen inflation.

The S&P 500 reported a slightly lower performance last Friday, ending the week at pretty much the same level it began. Despite major headlines around corporate earnings, AI developments, a Federal Reserve meeting, and trade deals, the market seems to have needed time to digest its historic comeback over recent weeks. The Dow Jones Industrial Average was up 0.1% over the last four trading sessions, while the S&P 500 was down 0.4% and the Nasdaq Composite was 0.3%.

Regarding individual stocks, TSMC, the world’s largest semiconductor manufacturer, saw an uplift in its share price after reporting better-than-expected sales in April, up 22.2% month over month and 48.1% year over year. Its growth suggests that the AI infrastructure ramp remains in full swing, a good sign for Nvidia, TSMC’s primary chip supplier. Although Nvidia traded lower on Friday, it is on pace for a positive week.

Human resources software startup Rippling saw its valuation rise to $16.8bn after a recent fundraising round of $450m. Despite the past three years seeing a lack of tech IPO activity, Rippling’s co-founder, Parker Conrad, said the company has no plans for an IPO in the near future.

Notable stock movers included Insulet, whose shares surged 19% after Q1 results beat estimates, and Lyft, which surged almost 23% following a profit report in Q1 and a boosted share repurchase plan. On the other hand, firms that saw losses included Expedia, which declined 7% on lower-than-expected top-line results, and Sweetgreen, which saw its shares fall 17% after a downward revision in its full-year outlook.

In the coming week, Wall Street will watch out for the results of the US-China trade talks, and look ahead to earnings results from notable companies such as Cisco and Walmart.

In recent financial news, concerns over trade deals have been highlighted by Bank of America’s chief investment strategist, Michael Hartnett. He posited that the stock market rally may falter on completion of the deals. The S&P 500 large-cap index and Nasdaq Composite have seen a steady rise despite fluctuations tied to tariff speculations. In the last month, they recorded gains of approximately 4% and 5%, respectively. Hartnett also anticipated more than $600 billion of taxes on imports.

Several companies made significant moves in the stock market. Coinbase slipped by 2% following lower than expected first-quarter revenue of $2.03 billion, with earnings dropping from $4.40 to 24 cents per share. Expedia stocks fell by 10% due to reports of lower Q1 revenue and poor guidance. On a positive note, Lyft’s shares climbed by more than 11% after the announcement of a share buyback increase to $750 million. Pinterest stocks surged close to 14% after issuing stronger second quarter revenue predictions. Shares of the medical device company, Insulet, also surged by over 12% after topping expectations in its Q1 report. On the downside, Affirm’s shares dropped by 7%.

Ahead of key trade discussions, President Donald Trump indicated his openness to reduce Chinese tariffs to 80%. The proposed rate is still considerably higher than the industry had hoped for and remains potentially prohibitive to trade.

In relation to the art market, there’s an anticipation of $1 billion worth of artwork being placed up for auction in New York next week. Despite a decline in global art sales over the last two years, Christie’s CEO Bonnie Brennan expressed confidence in art as a “safe haven” during times of volatility. The auctions include a Giacometti bronze bust valued at between $70 million to $90 million and 40 works from Roy Lichtenstein’s private collection.

Stocks surged on Thursday led by sectors such as energy, industrials, banks, and consumer discretionary. This was driven by President Donald Trump’s announcement of a trade deal with the United Kingdom, which includes a $10 billion aircraft parts procurement from Boeing. This led to Boeing shares adding over 3% on Thursday. Goldman Sachs shares also rose approximately 3% due to increased optimism surrounding the reduction of deal-making uncertainty.

Coinbase shares are showing strong technical characteristics in anticipation of its quarterly earnings report and with Bitcoin retesting the $100,000 level. Following Coinbase’s recent acquisition of crypto options firm Deribit, a new bullish phase is expected.

CrowdStrike plans to lay off 500 people, or about 5% of its workforce, attributing it to advancements in AI. Meanwhile, Nintendo expects to sell 15 million of its new Switch 2 consoles in the fiscal year ending March 2026.

AppLovin shares jumped 12% following better-than-expected Q1 results and announced its plan to sell its mobile gaming business in a $400 million deal. Meanwhile, stocks for MercadoLibre and Crocs also rose following positive Q1 results. However, Carvana, Arm Holdings, and Cleveland-Cliffs witnessed a fall in shares due to disappointing Q1 reports or negative future quarter predictions.

Krispy Kreme shares plunged 24% after the company announced to reassess its partnership with McDonald’s and pulled its full-year outlook. It cited economic “softness” as a reason behind the move.

The stock market gained traction after President Donald Trump revealed a new trade deal between the US and UK. However, pharmaceutical stocks are slipping due to concerns about possible drug pricing reforms on Trump’s agenda. Eli Lilly saw a decline of as much as 4.7%, while Bristol-Myers Squibb fell by up to 2.3%.

Despite this, Apple and Alphabet stocks experienced a surge following news that Apple was considering retooling its Safari browser for AI-powered search engines. Costco also boasted strong sales for April, with an overall 4.7% increase in total net sales. Chip stocks including Nvidia are on the rise after it was reported that Trump won’t enforce AI diffusion rules set by the Biden administration.

In the retail sector, Costco reported a rise of 6.7% in April’s same-store sales. Tapestry, the owner of brands like Coach and Kate Spade, saw its shares increase by 9% following a better-than-expected quarter and an upgraded revenue outlook for the full year. On the downside, pharmaceutical stocks like Eli Lilly and Bristol Myers Squibb were down, amid reports that the Trump administration plans to target Medicare drug pricing.

Coinbase has made its largest acquisition to date, agreeing to purchase Dubai-based crypto derivatives exchange Deribit for $2.9 billion. The acquisition stands to solidify Coinbase’s international presence in the crypto derivatives market. The transaction is expected to close by the end of the year and resulted in a nearly 6% surge in Coinbase shares.

National Vision is predicted to have a strong second half of the year, according to Bank of America. An analyst from the bank doubled upgraded the company’s shares due to several signs that its strategic initiatives are yielding results.

Retail investors have shown greater interest in shares of Nvidia and Tesla, but were less enthusiastic about Apple due to tariff concerns. Nvidia and Tesla saw inflows of $1.2 and $1.1 billion respectively from retail investors. On the flip side, about $400 million was pulled out from Apple shares by retail investors amid concerns regarding the impact of Trump’s tariffs on Apple’s earnings.

The Federal Reserve maintained its key interest rate range at 4.25%-4.5%. The Dow Jones Industrial Average was up nearly 300 points, despite fears over the Fed’s depiction of economic risks, which it attributes significantly to geopolitical uncertainties. Markets are unsure of how President Trump’s tariff push will affect the economy, raising the possibility of a stagflationary scenario. The Fed’s recent statements suggest a wariness to act preemptively in cutting interest rates.

In terms of top stocks, Alphabet’s shares fell significantly due to claims that AI will replace search engines and rising competition in core search. Uber’s shares also slipped despite an 18% increase in trips during Q1. Disney’s shares rose after topping Q2 expectations, revealing strong subscriber growth for Disney+, and announcing plans for a new theme park in Abu Dhabi. Smaller gainers include Lionsgate Studios, Logitech, and Novo Nordisk. Conversely, Arista Networks, Super Micro Computer, International Flavors & Fragrance, and Rivian Automotive are among the notable losers.

As discussions between US and Chinese officials draw focus, the market is waiting for clarity on the progress of trade deals, which are foundational to projections of inflation and growth.

Shares of Alphabet, the parent company of Google, plummeted 8% after Apple’s services chief, Eddy Cue, commented on the potential future dominance of AI over standard search engines. This hit both Alphabet and Apple stocks, with the latter falling 2%. It raises questions about the future of Google as the default search engine on Safari, especially since the relationship between the two tech giants is already under scrutiny in an ongoing Department of Justice lawsuit.

In other news, JPMorgan recommends investors position themselves for potential upside due to former President Trump’s teased “very big announcement.” The specifics of the announcement were not disclosed, but its potential to drive the market led JPMorgan to suggest purchasing S&P 500 call options to capitalize.

In the tech sector, there is restructuring news. Cybersecurity firm, CrowdStrike, plans to reduce its global workforce by 5% in an effort to boost efficiency. Despite shares falling almost 4% on the announcement, the move is viewed positively for the company’s long-term efficiency goals.

Meanwhile, Disney’s stock climbed more than 10% after posting impressive earnings results and offering positive updates on its latest theme park in Abu Dhabi. Likewise, Honeywell’s shares increased by over 2% following an upgraded rating to ‘buy’ by Bank of America, driven by expected stable and positive earnings revisions and business simplification through upcoming spin-offs.

Finally, billionaire investor Warren Buffett has downplayed the recent market volatility, claiming it to be insignificant compared to historical data. While acknowledging the recent jitters in the market, Buffett said the current situation is far from a dramatic bear market, urging investors to adapt to the financial climate rather than expect it to adjust to them. Though the S&P 500 was roughly 9% below its February peak at the time of his comments, Buffett remained unperturbed by short-term volatility.

The S&P 500 snapped a nine-day winning streak on Monday as investors wavered over global trade concerns. It shed 0.64% to close at 5,650.38, while the Nasdaq Composite dropped by 0.74% to end at 17,844.24; the Dow Jones Industrial Average lost 98.60 points, or 0.24%, to close at 41,218.83. Investors are concerned about tariff agreements between the U.S. and international trade partners. There was, however, an improved sentiment after reports that India had proposed zero tariffs on certain commodities on a reciprocal basis.

Trump’s announcement of a 100% tariff on foreign-produced films led to an initial drop in shares of Hollywood studios and streaming services. Although the president later softened his stance and agreed to meet with the industry, Netflix and Warner Bros. Discovery experienced continued losses, closing down 2%. Ford suspended its 2025 financial guidance due to potential supply chain disruption and potential tariffs, expecting a $2.5 billion impact from Trump’s tariffs this year.

OpenAI announced that it will remain within nonprofit control despite restructuring, amid pressure from Elon Musk and former employees. The statement comes in light of a lawsuit between Musk and the AI startup over transitioning the business into a for-profit organization.

Concerns about inflation saw Goldman Sachs lower its West Texas Intermediate crude price forecast for the second half of 2025 and 2026 to $56 per barrel. This follows the agreement by OPEC+ to increase production by 411,000 barrels per day in June, a reversal of higher prices that could help fight inflation.

Active management is making a comeback in the typically index fund-dominated equity exchange-traded fund (ETF) market. Actively run funds took 34% of the flows for the trading week ending April 25. As per Jon Maier from JPMorgan Asset Management, there is parity between active and passive funds, even though index funds still hold the larger share of total assets.

AI research company OpenAI has decided to retain nonprofit control over its operations. The company had been under pressure to convert into a for-profit entity, largely due to a dispute with co-founder Elon Musk over his own AI startup, xAI. However, the nonprofit announced it will remain in control and restructure into a public benefit corporation. OpenAI, valued at $300 billion and backed by Microsoft, will maintain its focus on AI research.

Donald Trump, current US President, has falsely claimed that gasoline prices have dropped below $2 per gallon in an effort to pressurize the Federal Reserve to lower interest rates. However, data from AAA shows that US drivers were paying on average $3.165 per gallon on Monday, a slight rise from last week. Despite this, Trump continues to boast about low gas prices on his social media platform, Truth Social.

Berkshire Hathaway’s CEO, Warren Buffet, has announced he is stepping down, causing the company’s shares to fall by 5%. Though he will remain as chairman, the decision has created a ripple effect in the market, causing some short-term volatility. Greg Abel will take over as CEO, promising to carry on Berkshire’s culture and patient value investing style.

Footwear company Skechers USA saw its shares surge by 24% after it announced a planned acquisition by 3G Capital for $63 per share. However, shares of the food-processing company Tyson Foods slipped by 7.8% following a slight miss on revenue targets for the second fiscal quarter.

Finally, Trump’s announcement of a 100% tariff on movies produced outside the US saw streaming stocks such as Netflix, Amazon, Paramount Global, and Warner Bros. Discovery drop by roughly 2%. The decision, announced via post on Truth Social, has been positioned as an attempt to revive the “dying” American movie industry.

Market indexes on day (Please note to clarify the real values with Dow, S&P, Nasdaq)

Automaker Ford is set to report its first-quarter earnings, and Wall Street estimates a 9.2% decrease in revenue compared to the previous year and a 96% dive in adjusted earnings per share. The focus is expected to be on the company’s 2025 guidance and the impact of Trump’s auto tariffs. Meanwhile, Adam Parker, founder of Trivariate Research, warns investors to not be too optimistic, saying that markets now are measurably “worse and more uncertain” than at the beginning of the year, despite recent comebacks.

Tech stocks CrowdStrike and Uber have been named among the best in the market by Ritholtz Wealth Management. Both have seen significant rallies and are claimed to be businesses that can beat a recession. Uber is the fifth-best-performing stock in the S&P 500 this year, up by 40%, and CrowdStrike is regarded as one of the premier cybersecurity companies globally.

Warren Buffett plans to step down as CEO of Berkshire Hathaway by year-end after six decades. Since taking over a failing textile company in 1965, Berkshire shares have skyrocketed by 5,502,284%, compared to the broad S&P 500 which rose by 39,054% during that period. Pershing Square CEO, Bill Ackman, predicts that Berkshire might increase its cash returns to shareholders once Buffett steps down, possibly through a dividend and more aggressive stock buybacks.