The Nasdaq Composite is now seeing green, up by 0.47% in yet another volatile session. For the week, the Nasdaq Composite is headed for a loss of 1.36%.
The markets have trimmed their losses but the Nasdaq Composite remains modestly lower. Amazon (Nasdaq: AMZN) stock is now trading below the $200 per share threshold amid a nine-day losing streak, the worst the stock has suffered in nearly two decades. Over the stretch, AMZN has erased $470 billion in market cap, owing to fears about the company’s massive capex plans.
Goldman Sachs has reemphasized its “buy” rating on Microsoft (Nasdaq; MSFT) stock with a $600 12-month price target attached. Microsoft stock is up fractionally today.
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Market volatility is high, with the VIX index up 5% in today’s session. The latest inflation data came in better than expected, offering what should become relief for markets. Consumer prices rose 2.4% year over year last month, a cooler reading that brings inflation back toward levels last seen in mid-2025. As the gauge edges closer to the Federal Reserve’s 2% target, expectations for an eventual rate cut are likely to gain momentum, even as this week’s labor market data reflected strength.
The markets are under pressure out of the gate today while corporate America continues to dole out spending. Most recently, Meta Platforms (Nasdaq: META | META Price Prediction) has declared a quarterly cash dividend of $0.525 per share, continuing to return value to shareholders, including CEO Mark Zuckerberg, who is poised to collect nearly $180 million in distributions this quarter.
Here’s a look at where things stand as of morning trading:
Dow Jones Industrial Average: 49,300.59 Down 151.39 (-0.29%)
Nasdaq Composite: 22,545.76 Down 52.23 (-0.23%)
S&P 500: 6,828.11 Down 4.65 (-0.09%)
Amazon Web Services (Nasdaq: AMZN) CEO Matt Garman weighed in on the fuss about software stocks, reportedly saying he believes fears from AI competition are overblown.
Applied Materials (Nasdaq: AMAT) is bucking the downward trend, rising by 10% on the heels of its earnings print, exceeding expectations on both the top and bottom lines.
DraftKings (Nasdaq: DKNG) is spiraling by nearly 11% today.
Crypto trading platform Coinbase (Nasdaq: COIN) is recapturing some lost ground, tacking on 8% today after this week’s sell-off in the stock. The company reported a disappointing quarter and revenue drop in the double-digit percentage area amid a sinking Bitcoin price that currently hovers below $70,000.
Pinterest (NYSE: PINS) is weighing on broader market sentiment, sinking by 20% today on a disappointing sales forecast.
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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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