Hedge fund manager Bill Ackman has made some changes to his portfolio. According to SEC filings, Ackman’s Pershing Square has added positions in Amazon (Nasdaq: AMZN), Hertz (NYSE: HTZ) and Meta Platforms (Nasdaq: META) while selling shares of Chipotle (NYSE: CMG) and Nike (NYSE: NKE).
The markets have surrendered earlier gains after coming out of the gate like gangbusters, with the Nasdaq Composite now lower by 0.15%. The Nasdaq is being dragged lower by Big Tech stocks including Microsoft (Nasdaq: MSFT), down 2.2%, Alphabet (Nasdaq: GOOGL), down 2%, and Netflix (Nasdaq: NFLX), down 2.5% in today’s sudden sell-off.
Goldman Sachs analysts are bullish on Kingsoft Cloud (Nasdaq: KC), upgrading the stock to “buy” from “neutral” on its AI positioning. The stock is soaring by 9.8% today.
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The markets are seeing green across the board amid a near Goldilocks scenario in the economy. The latest jobs report reveals that conditions are neither too not nor too cold, with 130,000 jobs added last month, surpassing economist’s most bullish of estimates, while the unemployment rate edged lower to a surprising 4.3% from 4.4% month-over-month. What it means for the Fed and interest rates will depend largely on the latest inflation data, with the CPI due out at the end of the week. The Polymarket online betting platform places higher bets for a rate cut in July over June.
All three of the major stock market averages are advancing, including a 0.58% jump in the tech-heavy Nasdaq Composite. Leading the charge are Nvidia (Nasdaq: NVDA | NVDA Price Prediction), Tesla (Nasdaq: TSLA) and Micron (Nasdaq: MU), the latter of which is benefiting from bullish comments out of Wall Street analysts. Laggards today are Microsoft (Nasdaq: MSFT) and Amazon (Nasdaq; AMZN), each of which is down about 1%.
Here’s a look at where things stand as of morning trading:
Dow Jones Industrial Average: 50,424.86 Up 253.36 (+0.50%)
Nasdaq Composite: 23,240.97 Up 138.50 (+0.58%)
S&P 500: 6,983.66 Up 41.85 (+0.58%)
Shopify (Nasdaq: SHOP) stock is soaring on the heels of its earnings print. The cloud-based e-commerce platform surpassed estimates on both the top and bottom lines, signaling a resilient consumer and optimistic outlook for 2026.
Datadog (Nasdaq: DDOG) also reported quarterly earnings, and the stock is climbing tktk% higher today. The company offered a bullish outlook on robust AI demand. Rosenblatt analysts reemphasized their “buy” rating on DDOG stock with a $185 price target attached, reflecting upside potential of 43.4%.
Bernstein analysts have reemphasized their “outperform” rating on Netflix (Nasdaq: NFLX) stock despite being challenged by Paramount and WBD, suggesting that Netflix currently holds the leverage. The stock is down 1.2% today.
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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.
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