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The Scion founder is betting against Nvidia, Palantir, and other beneficiaries of the AI boom—and says the record-setting rally is creating leverage that could make the next selloff more violent.
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Dow closes at record on Mideast optimism; SpaceX, AMD drag Nasdaq ReutersS&P 500 is flat as 4-day rally loses momentum; Dow boosted by Nvidia: Live updates: Live updates CNBCDow rallies to another record, but S&P 500 and Nasdaq close in the red MarketWatchStocks hover near record highs and oil prices
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Multiple people dead in North Carolina shooting, official says Fox NewsNorth Carolina mass shooting leaves ‘multiple fatalities,' officials say NBC NewsMultiple people shot in Caswell County, NC; one hospitalized, others dead, SBI assisting KOMO
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‘Spider-Man: Brand New Day' Becomes Highest-Grossing Movie of 2026 in 7 Days With $1.15 Billion variety.comReview: Spider-Man: Brand New Day reminds us that superhero movies can be good Ars TechnicaWeekend Preview: After Hitting a Billion, How High Can SPIDER-MAN Go? Boxoffice Pro'Avengers: Doomsday's Russo Brothers Congratulate 'Spider-Man: Brand New Day' Team On Box Office Success: "The Gauntlet Has Been Passed" Deadline
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Jeff Dean and other top AI researchers are leaving Google to launch their own startup TechCrunchGoogle stock drops amid DeepMind leadership shake-up Yahoo FinanceWhat smart people in tech are saying about Google's AI leadership restructuring Business InsiderGoogle's AI reshuffle: Chief scientist Jeff Dean exits and Demis Hassabis steps down as DeepMind CEO CNBC
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The Mediterranean archipelago is a hot destination for U.S. companies seeking to shield profits from income taxes.
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Booming corporate profits are driving the S&P 500 near another record, dampening concerns about the war, inflation and more.
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The CrowdStrike outage created a new sense of urgency for companies to protect their tech systems. A study by Shane Greenstein and colleagues illustrates just how many companies are vulnerable to cyberattacks and other threats simply because they put off updating their software.
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Stocks jumped out of the gate Friday after the release of the August jobs report. But enthusiasm from the few investors that stuck around ahead of the long holiday weekend didn't last, with all three indexes ending in the red.
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The Labor Department this morning said the U.S. added 315,000 new jobs in August, well below July's 526,000. Also in the jobs report: the unemployment rate edged up to 3.7% from 3.5%; the labor participation rate, or the number of people actively seeking work, improved to 62.4% from 62.1%; and average hourly earnings - a key measure of labor cost inflation - was up 5.2% year-over-year, same as it was in July.
"Friday's jobs data provided some moderate relief, with payrolls almost landing precisely on consensus at 315,000 in August," says Douglas Porter, chief economist at BMO Capital Markets." While no doubt a solid advance - and completely inconsistent with recession chatter - other aspects of the report sent some calming signals." Porter points to steady wage growth, an increasing labor force and the rising unemployment rate that suggest "the extreme tightness in the job market may be beginning to moderate - almost exactly what the Fed doctor ordered."
Still, the major indexes, after being up more than 1% each around lunchtime, swung lower in afternoon trading after news reports indicated Russian energy giant Gazprom will indefinitely suspend operations of a natural-gas pipeline to Germany.
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By the close, the Nasdaq Composite was down 1
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