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US stocks today: Nasdaq, S&P fall over 1%, end lower for week as chip selloff broadens

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US stocks today: Nasdaq, S&P fall over 1%, end lower for week as chip selloff broadens
​Wall Street extended its decline on Friday as a pullback on stocks associated with the AI boom, which has driven many of the gains so far this year, morphed into a larger risk-off sentiment.

Semiconductor shares, which have led the broader market’s move in recent sessions, initially led ‌the selloff, which broadened ⁠as the ⁠session progressed.

All three major U.S. stock indexes closed lower on the day and posted weekly losses.

The Philadelphia SE Semiconductor Index logged its steepest weekly ​loss in over a year, and has tumbled nearly 18% so far in July. Even so, the index remains up about ​65% year-to-date, compared with the S&P 500’s nearly 9% gain over the same time frame. Some investors in the artificial intelligence space have begun positioning for a slowdown in the nearly trillion-dollar spending boom, with some active managers already scaling back their exposure, ​according to a Reuters analysis.

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“It’s like the market has chip fatigue,” said ⁠Ryan Detrick, chief ‌market strategist at Carson Group in Omaha, Nebraska. “Chip stocks are down three of the ​last four weeks, ​and it’s the same worries, the same concerns; those stocks got way ahead of themselves, and ⁠now they’re coming back to Earth.”


According to preliminary data, the S&P 500 ​lost 75.99 points, or 1.01%, to end at 7,457.78 points, while the Nasdaq Composite ​lost 370.83 points, or 1.40%, to 25,511.12. The Dow Jones Industrial Average fell 394.01 points, or 0.75%, to 52,158.96. Among the major sectors of the S&P 500, energy stocks were the biggest gainers, benefiting from spiking crude prices amid signs of escalating hostilities in the Iran war.
Q2 EARNINGS SEASON GETS OFF TO AN UPBEAT STARTSecond-quarter earnings season is still in its early days, with 49 of the companies in the S&P 500 having reported. Of those, 90% have delivered better-than-expected ‌results, according to LSEG.

Analysts now see year-on-year S&P 500 earnings growth of 26.0%, in aggregate, up from the 19.2% expectations as of April 1, per LSEG.

“It’s early in earnings season, but we’re off ​to a tremendous start,” ​Detrick added. “Over the next several ⁠weeks, we’re going to get a lot more sectors and industries reporting. But so far, the banks have really started us off on the right foot.” Netflix tumbled after the company’s weaker-than-expected earnings forecast, raising doubts about the sustainability of the content ​growth momentum. Uber Technologies dropped after the rideshare app announced it would acquire Germany’s Delivery Hero in a deal worth nearly $15 billion. Intuitive Surgical shares slid after the medical device maker kept its da Vinci procedure growth forecast unchanged and warned insurance-plan changes may be delaying patient care. On the economic front, consumer sentiment increased to a five-month high in July, but single-family housing starts and building permits dipped, and industrial output increased by a meager 0.1%.

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Terveystalo Oyj (TTALF) Q2 2026 Earnings Call Transcript

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

Juuso Pajunen
Chief Financial Officer

Good morning, all. My name is Juuso Pajunen. I will be having today a dual role as the host of the Terveystalo half year results presentation and as a CFO at a later stage. But let’s now give the word to Ville Iho, President and CEO of Terveystalo, and let’s start the webcast for the half year results. Ville, please?

Ville Iho
President & CEO

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Thank you, Juuso, and good morning from sunny Helsinki. Let’s start recapping Terveystalo’s second quarter. Of course, it was a busy quarter for Terveystalo. We, of course, released multiple big things, not the least, the Silmaasema acquisition, our new financial targets and our new strategy. On the business side, it was still a challenging quarter. The market conditions continue to be abnormally negative, and that has been reflecting into our revenue line and with that one also to profitability to our numbers.

We made adjustments according to the lower volumes. And given that one, given the actions we took, we can be, of course, pleased with the customer service results, customer experience numbers are all-time high as well as medical quality key indicator PEI. But revenue line, obviously negative as well as adjusted EBIT EPS and also net debt-to-EBITDA leverage ratio went slightly up. Double-clicking on those negative market drivers.

First of all, public purchases from private health care, which are not even seen in this Slide, were still almost nonexistent. So health care counties have insourced quite a bit of their activities, and they are still reorganizing the cooperation models with the private health care

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EQT AB (publ) (EQBBF) Q2 2026 Earnings Call Transcript

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