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Wall Street Hits New Peaks as Tech Surge Overrides Inflation Jitters
The S&P 500 and Nasdaq Composite closed at record highs Wednesday, shrugging off a hotter-than-expected April producer price report that pushed back Fed rate-cut expectations.
Exxon Edges Higher as Oil Stays Above $100 Amid Inflation Jitters
Exxon Mobil rose 0.4% as oil stayed above $100, but Chevron and ConocoPhillips slipped on inflation and rate hike fears. The Energy Select Sector SPDR Fund edged down 0.1%.
BigBear.ai Shares Extend Rally Amid Defense AI Contract Backlog Growth
BigBear.ai stock rallied 3.1% Wednesday, pushing one-month gains to 24.7%, driven by a 14% backlog increase to $281.9M from new defense and travel deals.
Apple Warns EU Over AI Interoperability Rules as Stock Nears $300
Apple flags EU draft rules requiring Android to open to competing AI services as a 'profound risk,' while its stock nears $300 and CEO Cook joins Trump for China trade talks.
Aurora Surges 15% as Volvo and DSV Launch Autonomous Trucking Service in Texas
Aurora Innovation stock surged 15% after Volvo and DSV launched commercial autonomous trucking in Texas. The company aims to deploy over 200 driverless trucks by year-end.
Archer Aviation Advances FAA Certification Despite $218M Quarterly Loss
Archer Aviation shares gained 4.7% as the company reported progress in FAA certification for its Midnight eVTOL, offsetting a $217.7 million first-quarter net loss.
Nu Holdings Shares Dip Ahead of Q1 Earnings; Credit Quality in Focus
Nu Holdings shares slipped 3.3% to $12.84 ahead of Q1 earnings. Analysts forecast EPS of $0.20 and revenue of $5.06B, with credit quality under scrutiny.
Palantir Drops 4.4% Despite Ukraine AI Expansion Meeting
Palantir shares fell 4.4% Wednesday as CEO Alex Karp met President Zelenskiy in Kyiv to expand AI use in Ukraine's war, despite Q1 revenue surging 85%.
Grab Stock Dips Despite Strong Q1 Results, Indonesia Cap Looms
Grab shares slipped 1.1% to $3.60 despite Q1 revenue beating estimates at $955 million and profit jumping to $120 million, as Indonesia's new 8% ride-hailing commission cap weighs on sentiment.