New ETF launches1 new ETF hit the market · Sep 23
  • AIBFiShares Future AI Beneficiaries ETFequity0.40%

BlackRock is betting the next AI trade belongs to the companies using AI rather than the ones building it: the iShares Future AI Beneficiaries ETF is Wednesday's lone launch, at a 0.40% net expense ratio.

Biggest movers · At the close
  • PANWPalo Alto Networks$392.81+4.9%
  • ASANAsana$9.47+4.2%
  • IONQIonQ$42.43+4.1%
  • DOCUDocuSign$69.29+3.8%
  • PLTRPalantir$191.7+3.6%
  • EXPEExpedia$259.02-7.7%
  • ABNBAirbnb$149.57-7.6%
  • LMNDLemonade$44.57-6.5%
  • HIMSHims & Hers$28.48-6.4%
  • OPENOpendoor Technologies$2.6-6.0%

Travel took the worst of Wednesday's close, with Expedia down 7.72% and Airbnb close behind at 7.56%. Software ran the other way: Palo Alto Networks led all gainers at 4.87%, with Palantir back near $192.

CLOSING BELL
U.S. Markets
  • S&P 500-0.76%
  • Dow Jones Industrial Average-0.64%
  • Nasdaq Composite-1.21%

Growth stocks took the brunt of it: the Nasdaq's 1.21% drop was nearly double the Dow's decline, a sign higher rates are hitting the most expensive corners of the market first.

Stock picks

GameStop Still Wants eBay, and Its CEO Is Betting Big on Himself

Ryan Cohen just wrote a personal check for a million shares of his own struggling company, and three directors bought the same week. When a CEO puts tens of millions of his own money in while quarterly sales crater, the question is what he knows that the market hasn’t figured ou…

Eleven new points on the intelligence-versus-cost frontier in a single week means the price of frontier-grade reasoning is falling faster than most AI software pricing models assume.

The Intelligence Index vs Cost per Task Pareto frontier shifted this week with the releases of MiMo-V2.6-Pro, Claude Opus 5.5, GPT-6 Luna, and GPT-6 Sol Together they have established eleven new points on the Pareto frontier (driven by different reasoning efforts): five from https://t.co/JFQb5EB6hX
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MCDMcDonald's
Regular session
$237.53
-5.11%open $250.32

A 5.1% intraday drop to $237.53 is an outsized day for a defensive blue chip that rarely moves like this, and it lands on the same day management laid out its NEXT strategy at Investor Day. Keep an eye on whether the stock stabilizes near these levels.