Tilray Brands (Nasdaq: TLRY) is soaring by 30% to over $11 per share amid signals of looser cannabis regulatory guardrails coming down the pike.
Technology stocks have widened their losses, with the Nasdaq Composite now down over 1% on the day. The fate of the broader market has also turned, with the S&P 500 now retreating by 0.65%.
Among the hardest hit stocks, data storage stock Sandisk (Nasdaq: SNDK), a spinoff of Western Digital, is spiraling by 12.1% after recently being added to the S&P 500 index club.
Chicago Fed President Austan Goolsbee, who voted against the December rate cut, is now reportedly making the case for additional interest rate cuts than median expectations for 2026.
The Nasdaq Composite remains under pressure.
Live coverage has ended. The full story is below.
This article will be updated throughout the day, so check back often for more daily updates.
In what’s shaping up as a rotation out of technology names, the Nasdaq Composite has been left out of the broader market rally this week. After yesterday’s impressive trading session in which the Dow Jones Industrial Average and S&P 500 both clinched new highs, the broader markets are looking to take more ground while tech remains sidelined. As for the Nasdaq Composite, it is eyeing a 22% gain year-to-date before any potential Santa Claus rally grips the technology sector if sentiment can be reversed.
Yesterday’s broader market gains came on the heels of a sharp sell-off in software giant Oracle (Nasdaq: ORCL | ORCL Price Prediction). At its lowest, Oracle shaved off roughly $100 billion in market cap in yesterday’s trading session alone, denting Larry Ellison’s net worth to hover at $258 billion. Separately, Broadcom (Nasdaq: AVGO) stock is sinking 9% after yesterday’s earnings print, taking the baton from Oracle as the biggest drag on the sector. Wall Street remains bullish on the stock, with Bank of America lifting their price target on AVGO to $500 from $460 per share with a “buy” rating attached.
Here’s a look at where things stand as of morning trading:
Dow Jones Industrial Average: 48,787.33 Up 75.32 (+0.14%)
Nasdaq Composite: 23,533.43 Down 60.41 (-0.24%)
S&P 500: 6,896.76 Down 4.24 (-0.05%)
Wedbush analysts consider President Trump’s executive order to avoid AI patchwork legislation a score for Big Tech names including OpenAI, Alphabet’s Google (Nasdaq: GOOGL), Microsoft (Nasdaq: MSFT) and Meta Platforms (Nasdaq: META), among others. By streamlining the federal framework for AI, some regulatory friction is lifted that could have thwarted progress, according to Wedbush.
One technology stock bucking the downward trend today is Netflix (Nasdaq: NFLX). Shares are up 2.3% as content streaming takes the spotlight amid potential M&A deal involving Warner Bros, despite regulatory headwinds.
Contact [email protected] for any questions or corrections.
Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
This article will be updated throughout the day, so check back often for more daily updates. The markets are seeing early gains as AI names attempt one last push in the final stretch of…
This article will be updated throughout the day, so check back often for more daily updates. Technology stocks are taking a breather after yesterday’s relief rally as investors react to the latest whims of…
This article will be updated throughout the day, so check back often for more daily updates. After roaring back in yesterday’s sessions on headlines that the Iran war could be over sooner than expected,…
This article will be updated throughout the day, so check back often for more daily updates. After yesterday’s comeback rally, technology stocks are pulling back today as they battle it out for the AI…
As of 11:00 a.m. ET, the Nasdaq Composite is bouncing back from yesterday’s drop thanks to a major contribution from Alphabet (Nasdaq: GOOGL). However, other major indexes are slightly in the red or flat on…
This article will be updated throughout the day, so check back often for more daily updates. The markets are deepening their losses this Friday morning, with all three major stock market averages down by…
Tech stocks are behind today’s impressive market action, as all three of the major stock market indices race higher, fueled by a 2.4% gain in the tech-heavy Nasdaq Composite. The S&P 500 is also…
The markets are saving face after yesterday’s beatdown and ahead of the Fed’s interest rate decision this afternoon. All three of the major stock market indices opened higher in a display of solidarity. While…
Now that April is in the rearview mirror, the markets are welcoming the month of May with no selling in sight. The tech-laden Nasdaq Composite shed approximately 0.1% in yesterday’s turnaround session, far from…
