Connect with us

Business

US stock: S&P 500 ends lower as investors weigh data, Middle East tensions

Published

on

US stock: S&P 500 ends lower as investors weigh data, Middle East tensions
The S&P 500 closed lower on Friday, dipping from a record high and weighed down by Applied Materials, while investors digested weaker-than-expected retail sales data. Applied Materials fell after its upbeat quarterly forecast failed to impress investors. The chip equipment maker’s shares have doubled in 2026 due to strong demand related to the buildout of AI data centers.

With investors nervous about high valuations ‌of AI-related stocks that ⁠have soared ⁠in recent years, chipmakers including Broadcom and Intel also dropped on Friday.

“A lot of the drivers in the market right now are around various parts ​of AI, and (Applied Materials) is an example of a company that had a ‘beat and raise’ but expectations were high and so the stock ​sold off,” said Thomas Martin, senior portfolio manager at GLOBALT Investments in Atlanta. Transit through the Strait of Hormuz appeared at a near standstill after two more ships were attacked there and the United States said it could maintain a naval blockade ​of Iran indefinitely. Those developments added to pessimism after a senior Iranian source said on ⁠Wednesday there ‌had been no progress in talks to build on a June agreement to end the ​war.

The S&P 500 energy index rallied, tracking higher oil prices. Reddit surged after the social media company was named a new ⁠addition to the S&P 500 index, effective August 18. July retail sales data came in weaker than expected, after an unrevised 0.2% gain in June, the Commerce Department’s Census Bureau said.

According to preliminary data, the S&P 500 lost 13.41 points, or 0.17%, to end at 7,785.58 points, while the Nasdaq Composite lost 73.86 points, or 0.28%, to 26,729.16. The Dow Jones Industrial Average fell 108.53 points, or 0.20%, to 53,732.53.While inflation related to high oil prices remains a concern, recent economic data has investors mostly expecting the Federal Reserve to hold interest rates steady at its September meeting. Traders see a 67% chance the Fed will keep rates unchanged at the September ‌meeting, with a 33% chance of a hike, according to CME’s FedWatch.
The University of Michigan’s preliminary consumer sentiment survey came in at 51 in August, below expectations of 54.5, according to economists polled ​by Reuters.
The aggregate earnings of S&P 500 companies have ⁠surged 52% in the second quarter, with much of that gain coming from Amazon , Microsoft and other AI heavyweights, according to LSEG.

With the S&P 500 trading just below record highs, the index is valued at about 20 times expected earnings. That is up from about 19 at the end of July and below 22 at the start of 2026. Workday dipped. The stock soared 18% on Thursday after Reuters reported that private equity firm Silver Lake was in talks to acquire the software firm. Shares of some drone makers gained after President Donald Trump said late on Thursday he would impose tariffs on imports of drones and their components. Red Cat and Unusual Machines both jumped.

Advertisement
Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Business

8 Rivers Capital sells $1.4m in Net Power (NASDAQ:NPWR) stock

Published

on


8 Rivers Capital sells $1.4m in Net Power (NASDAQ:NPWR) stock

Continue Reading

Business

Target Website And App Down Now? Users Report Outage Friday Morning As Downdetector Tracks Rising Complaints

Published

on

Commonwealth Bank of Australia

Target customers began reporting problems accessing the retailer’s website and mobile app Friday morning, according to outage-tracking service Downdetector, in what appeared to be a developing disruption affecting the company’s digital shopping platforms.

Downdetector said user reports indicating problems with Target began climbing at 10:03 a.m. Eastern time. The tracking service posted about the rising number of reports on its official account on the social platform X, asking affected users to describe how the outage was impacting them and tagging the post with the hashtag “TargetDown.”

As of Friday morning, Target had not issued a detailed public statement addressing the scope, cause or expected resolution timeline for the reported disruption. Separate outage-monitoring services showed a mixed picture of the retailer’s status around the same period. One tracker, WebsiteDown, reported that its automated probe found Target’s website reachable and responding normally, while noting that any issues appeared to have already cleared by the time of its check. Another service, Outage.now, similarly indicated it had not detected any outages affecting Target over the preceding 24 hours as of Friday, though it remained unclear whether that data reflected conditions before or after the wave of reports Downdetector flagged at 10:03 a.m.

Target does not maintain a widely publicized, continuously updated public status page of its own for customer-facing outages, meaning shoppers and outside observers typically rely on Downdetector and similar third-party monitoring tools, along with the company’s official social media accounts, to gauge the scope of a disruption before Target issues any direct acknowledgment.

Advertisement

Friday’s reported issue would not be the first time Target’s digital platforms have experienced problems. In December 2025, the retailer’s website and app suffered a significant outage that began generating elevated Downdetector reports shortly after 6 a.m. Eastern time and continued disrupting customers throughout the day, landing just days before Christmas during the peak holiday shopping period. At the time, a Target spokesperson acknowledged the issue directly in a statement, saying, “We’re aware of intermittent issues with our digital experience and a fix is underway,” while noting that the company’s physical stores remained open and ready for holiday shoppers. Target also posted updates to its official X account during that earlier incident, telling affected customers at one point that the company’s systems were “temporarily down” and advising them to try their transactions again within one to two hours.

Target’s digital and point-of-sale systems have experienced other significant disruptions in past years as well. In one earlier incident, the company experienced a global point-of-sale outage that left many stores able to accept only cash and gift cards, with checkout systems down for more than two hours on the first day and continuing to cause problems into a second consecutive day. Following that episode, Target confirmed the disruption was not connected to any data breach or security incident, telling customers that no guest information had been compromised, and attributing the outage instead to an internal technology issue without disclosing further specifics.

Target operates one of the largest e-commerce and retail platforms in the United States, with its website and app supporting product browsing, checkout, order tracking, and in-store pickup scheduling for millions of customers. According to monitoring services that track the retailer’s digital infrastructure, outages affecting Target’s online systems have historically tended to spike around high-traffic shopping periods, including the release of the company’s weekly promotional deals, Black Friday and Cyber Monday, when checkout systems face significantly elevated transaction volumes.

For customers experiencing ongoing issues Friday, standard troubleshooting guidance compiled by outage-tracking services recommended several basic steps, including forcing a full browser refresh, clearing browser cache and cookies, trying an alternate web browser, and disabling browser extensions that could potentially be interfering with the site’s normal functionality. Customers were also advised to check Target’s official social media accounts for any outage-related announcements and to contact the company’s customer support team directly through the app’s help section for issues specifically related to existing orders.

Advertisement

Given the discrepancy between Downdetector’s report of rising complaints beginning at 10:03 a.m. and other monitoring tools showing no detected issues around the same general timeframe, the true scope and duration of Friday’s disruption remained difficult to independently confirm using publicly available tracking data alone. Some outage reports affecting large retailers can reflect brief, localized or quickly resolved technical issues that do not register clearly across every third-party monitoring service, particularly when a problem affects only a specific subset of site functionality, such as checkout or order tracking, rather than the platform as a whole.

This remains a developing situation, and additional details regarding the precise scope, underlying cause and resolution timeline of Friday’s reported Target outage were not immediately available. The company had not issued an official public acknowledgment of the disruption as of Friday morning, leaving affected customers largely reliant on Downdetector and Target’s own customer service channels to determine whether their individual access problems were part of a broader, platform-wide issue.

Continue Reading

Business

Voters across Latin America push back against socialism

Published

on

Voters across Latin America push back against socialism

Latin Americans have had it with socialism.

Over the past decade, more than half of Latin America’s nations have voted socialists out. From large countries like Argentina to tiny ones like El Salvador, socialists have been replaced with conservative leaders who’ve made significant progress turning their economies around.

Advertisement

That list could grow as Cuba and Nicaragua are on the cusp of collapse after their oil lifelines from Venezuela were cut following the arrest of Nicolás Maduro.

Argentine President Javier Milei.

Argentine President Javier Milei said in 2024 that, “We’re here to tell you that collectivist experiments are never the solution to the problems that afflict the citizens of the world. Rather, they are the root cause.” (Angelia Weiss/AFP via Getty Images)

NOW AMERICA REACHED A POLITICAL TIPPING POINT FOR SOCIALISM

The real incentive for dumping socialism is voter recognition that it just hasn’t worked. What is working are policies based on market solutions.

In Argentina, monthly inflation has tumbled from 25% to just 2%. Massive cuts in government have led to fiscal surpluses, and Moody’s upgraded their investment outlook to positive.

Advertisement

DAVID ASMAN ON COVID-19 TIPPING OFF RISE IN SOCIALISM: ‘PERFECT STORM’

“We’re here to tell you that collectivist experiments are never the solution to the problems that afflict the citizens of the world. Rather, they are the root cause,” Argentine President Javier Milei said in a 2024 speech at the World Economic Forum in Davos, Switzerland.

Argentinian President Javier Milei

In Argentina, monthly inflation has tumbled from 25% to just 2%. (Fabrice Coffrini/AFP via Getty Images)

Following the ouster of a socialist government in Ecuador, economic conditions there improved, with the GDP rebounding 3.7% in 2025 and the nation returned to international bond markets this year.

LATIN AMERICA’S SOCIALIST EXPERIMENTS LEAVE DEVASTATING TRAIL OF ECONOMIC COLLAPSE AND POVERTY

Advertisement

In Costa Rica, voters’ rejection of the ruling leftist party coincided with an estimated 20% relative decline in poverty from 2021 to 2024.

And those are just a few examples of the progress being made. Latin America has had many course changes over the years, and all this could turn around again. But probably not while memories of many socialist failures are so fresh and painful.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Latin America’s growing rejection of socialism also coincided with Secretary of State Marco Rubio’s cancellation of 83% of USAID programs, which he claims were doing more harm than good.

Advertisement
Marco Rubio talks to reporters

Secretary of State Marco Rubio announced the cancellation of 83% of USAID programs in March 2025. (Bill Clark/CQ-Roll Call, Inc via Getty Images)

Continue Reading

Business

Lument Finance Trust, Inc. (LFT) Q2 2026 Earnings Call Transcript

Published

on

OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript