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AI Rally Faces Scrutiny as Wall Street Questions Profitability
U.S. stocks bounced back Monday after a chip-led $2 trillion rout, but investors are increasingly skeptical about AI spending delivering durable earnings amid rate hike fears.
Mortgage Rates Edge Lower, Yet Affordability Remains Elusive for Homebuyers
Mortgage rates eased to 6.48%, offering slight relief, but listing prices dropped 2.4% year-over-year to $429,500 amid persistent affordability challenges and rising geopolitical risks.
QQQ Rebounds 1.6% After Steep Drop; Options Signal Caution
QQQ bounces back 1.6% after a 4.8% selloff, with options data indicating trader caution rather than panic as Fed rate worries and AI spending concerns persist.
Amazon's Multibillion-Dollar Fiber Deal Boosts Corning's AI Data Center Role
Amazon's multibillion-dollar fiber deal with Corning underscores AI-driven data center demand, but GLW shares remain flat as investors weigh factory ramp risks and lofty valuations.
BlackBerry Shares Recover in Pre-Market Ahead of Earnings Test
BlackBerry shares recovered in pre-market trading Monday after a 9% drop Friday, with investors eyeing QNX growth and government deals ahead of June 25 earnings.
Micron Rebounds After Nvidia Eases HBM Supply Concerns
Micron shares rebounded 8.2% in premarket trading after Nvidia confirmed it will continue sourcing high-bandwidth memory from Micron and Samsung, easing supply chain fears.
Campbell Soup Edges Higher Despite S&P 500 Removal and Soft Sales
Campbell's (CPB) shares rose slightly premarket after adjusted profit topped expectations, though quarterly sales fell 4% and the stock faces removal from the S&P 500 on June 22.
Tango Therapeutics Soars as Pancreatic Cancer Combo Shows 92% Response Rate
Tango Therapeutics shares rose sharply in premarket trading Monday after reporting a 92% objective response rate for its pancreatic cancer drug combo, with plans to move into Phase 3 testing.
Plug Power's Liquidity Focus Intensifies Ahead of CEO's June 11 Update
Plug Power shares rose 2.95% to $3.31 in pre-market trading Monday, recovering from a 10.69% drop on Friday, as investors await CEO Jose Luis Crespo's June 11 update on liquidity and asset sales.