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Winners
Amazon up 14.9%
Monolithic Power (Nasdaq: MPWR) up 11.3%
DexCom (Nasdaq: DXCM) up 9.6%
Vertiv Holdings (NYSE: VRT) up 6.3%
Coherent (NYSE: COHR) up 5.9%
Losers
GoDaddy (NYSE: GDDY) down 20%
Coinbase (Nasdaq: COIN) down 13.2%
Corteva (NYSE: CTVA) down 10.1%
Apple (Nasdaq: AAPL) down 9.2%
Champion Homes (NYSE: SKY) down 7.9%
Wall Street is bracing for volatility to linger beyond earnings season as inflation, Fed uncertainty, and geopolitical tensions move front and center. Goldman Sachs favors a “reverse dispersion” trade that anticipates bigger swings for the S&P 500 but calmer trading in individual stocks, while demand for downside protection is building ahead of the historically turbulent August-September stretch.
Neel Kashkari wanted the Fed to hike, not hold. The Minneapolis Fed president said he dissented because he favored a 25-basis-point increase, warning that supply shocks and AI data center investment could make inflation more persistent. The message adds a hawkish tone to the tape, as some Fed officials still think inflation risk is high enough to justify more tightening.
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This article will be updated throughout the day, so check back often for more daily updates.
Wall Street tried to turn a brutal mid-week selloff into an AI-led rebound. Nasdaq-100 futures rose 0.8%, while Dow futures gained 159 points, or 0.3%, and S&P 500 futures edged up 0.1%. The spark came from Amazon (Nasdaq: AMZN), which jumped 13% premarket after stronger-than-expected revenue and a 37% surge in AWS growth gave investors a cleaner read on AI demand. For the week, the Nasdaq Composite is basically flat.
The mood was not all bullish on Friday. Apple (Nasdaq: AAPL) fell more than 7% before the open, even after beating profit expectations, as investors focused on softer guidance, services pressure, and supply constraints. Meta Platforms (Nasdaq: META), which sank nearly 8% Thursday, clawed back some ground in premarket trading.
The rebound follows a whiplash stretch for stocks. Microsoft (Nasdaq: MSFT) lit the fuse Thursday with stronger Azure growth, helping lift AI-linked chip names and sending the iShares Semiconductor ETF (Nasdaq: SOXX) up more than 8%. But the market is still carrying scars from Wednesday’s 1,100-point Dow plunge after the Fed held rates steady. With the 30-year Treasury yield hovering above 5.2%, bulls have a rally. They still need a rates market that cooperates.
Here’s a look at where things stand as of pre-morning trading:
Dow Futures: 52,557 Up 0.34%
Nasdaq Composite: 28,495 Up 0.91%
S&P 500: 7,484 Up 0.16%
Amazon (Nasdaq: AMZN) and Apple (Nasdaq: AAPL) showed how selective the earnings tape has become. Amazon rallied after AWS revenue jumped 37%, its fastest growth since 2021, and management raised 2026 cash capex to $220 billion while saying demand still exceeds capacity. Apple beat on earnings, revenue, and iPhone sales, but shares fell after guidance missed expectations and supply constraints came back into focus.
Amazon (Nasdaq: AMZN) drew a round of post-earnings target hikes, with JPMorgan moving to $365, Wells Fargo to $328, and UBS to $318 while keeping bullish ratings intact.
Circle (NYSE: CRCL): Circle landed a regulatory win after receiving a trust charter from the New York Department of Financial Services. The approval gives the stablecoin issuer another credibility marker as crypto firms try to move deeper into regulated financial infrastructure.
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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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