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Best Buy Poised for In-Line First-Quarter Comparable Sales, Wedbush Says
US Markets

Best Buy Poised for In-Line First-Quarter Comparable Sales, Wedbush Says

Best Buy (BBY) is expected to report in-line comparable sales for the first quarter and issue a conservative outlook amid factors including product shortages and a leadership transition, Wedbush Securities said in a note Friday.The brokerage forecasts 1% same store sales growth at the electronics retailer in the fiscal first quarter, compared with the consensus estimate of 0.9%. It expects April-quarter revenue of $8.82 billion, matching the consensus on FactSet.Best Buy is scheduled to release its quarterly results on Thursday."Apple's (AAPL) record March quarter and MacBook Neo demand point to solid contribution while Logitech delivered an encouraging read on peripherals, citing a resilient premium US consumer, solid tax refund lift and US gaming sales turning positive in February," Wedbush analysts including Matthew McCartney wrote.TVs and appliances, however, likely faced light consumer demand in the first quarter, according to the research note.Investors are expected to focus more on guidance, with Best Buy seen outlining a second-quarter comparable sales outlook just below consensus expectations that call for a 0.3% drop, McCartney said.The expected conservative guide is attributable to a shortage of products including Neo and Mac Mini, as well as the Chief Executive transition, McCartney said. Last year's Switch 2 launch also strengthens the case for a cautious guide.In April, Best Buy said Corie Barry will step down as CEO on Oct. 31, with Chief Customer, Product and Fulfillment Officer Jason Bonfig set to succeed her.The brokerage views the upcoming FIFA World Cup as a tangible catalyst that could boost TV sales in the second quarter, particularly amid the availability of affordable Roku (ROKU) sets."While we remain optimistic on the long-term initiatives, the principal near-term risk in our view are rising memory-cost inflation still flowing through to device pricing across multiple vendors with resulting demand pressure requiring increased promotional depth," McCartney said.Price: $61.65, Change: $+0.50, Percent Change: +0.81%

$AAPL$BBY$ROKU
Wire

Imax's Potential Acquirers Include Private Equity Firms, Netflix, Apple, Sony, Wedbush Says

Imax (IMAX) is an "attractive" asset, and its most likely acquirers include private equity firms, Netflix (NFLX), Apple (AAPL), and Sony (SONY), Wedbush said in a Friday note.Imax is exploring a sale and has approached entertainment companies as potential buyers, the Wall Street Journal reported Thursday.At around $2 billion in enterprise value, Imax is trading below its standalone value and at a deeper discount as a potential acquisition target, the analysts said. They cited the company's well-known global brand, asset-light licensing model, and structurally expanding earnings profile.Private equity would be interested in Imax's free cash flow generation, minimal capital expenditure requirements relative to revenue, and a clear path to operational optimization. Ownership of Imax would also avoid any platform-conflict issue, the analysts said.Netflix ownership would not hamper rival studio access to the format as its content calendar is thin enough that purchasing Imax would not foreclose rival studio access to the format, according to the note.Netflix and Apple would also benefit from Imax becoming a powerful tool to woo major filmmakers, according to the note.Wedbush's rating on the company's stock is outperform with a price target of $46.Price: $38.77, Change: $+4.89, Percent Change: +14.43%

$AAPL$IMAX$NFLX$SONY
Wire

Market Chatter: Musk, CEOs Trump's China Trip Pressed Beijing on Export, Supply Issues

Tesla (TSLA) CEO Elon Musk joined President Donald Trump on his recent trip to China in hopes of persuading Beijing to unblock exports of high-end solar manufacturing equipment from a Chinese supplier to the electric-vehicle maker's factories, the New York Times reported Thursday, citing a person familiar with the matter.Coherent (COHR), a Pennsylvania-based semiconductor company represented on the trip, has been trying to obtain indium phosphide, a material needed to make photonic chips for data centers, the report said.The delegation also included executives from Boeing (BA), Apple (AAPL) and Nvidia (NVDA), the report said.Tesla and Coherent didn't immediately reply to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $419.47, Change: $+2.21, Percent Change: +0.53%

$AAPL$BA$COHR$NVDA$TSLA
Wire

CEOs on Trump's China Trip Raise Objections With Beijing, The New York Times Reports

CEOs on Trump's China Trip Raise Objections With Beijing, The New York Times Reports

$AAPL$BA$NVDA$TSLA
Sectors

Sector Update: Tech Stocks Mixed Late Afternoon

Tech stocks were mixed late Tuesday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 0.6% and the State Street SPDR S&P Semiconductor ETF (XSD) gaining 0.7%.The Philadelphia Semiconductor index added 0.2%.In corporate news, Intel (INTC) is urging notebook and personal computer makers to increase adoption of central processing units built on its latest 18A production process as demand for AI computing strains processor supply, Nikkei Asia reported. Intel shares were up 3.1%.Apple's (AAPL) Chief Hardware Officer Johny Srouji is reorganizing hardware development and shifting oversight of core functions to speed up work on future devices, Bloomberg reported. Apple shares were fractionally higher.Nvidia's (NVDA) fiscal Q1 sales are expected to outperform market projections, with potential for "enhanced" cash returns likely to be among the key areas of focus, BofA Securities said. Nvidia shares were down 0.5%.Meta Platforms (META) is moving 7,000 employees into new AI-focused roles as part of a broader restructuring that also includes planned job cuts later this week, Bloomberg reported Monday. Meta shares fell 1.5%.

$AAPL$INTC$META$NVDA
Wire

Market Chatter: Apple Reorganizes Hardware Development

Apple's (AAPL) Chief Hardware Officer Johny Srouji is reorganizing hardware development and shifting oversight of core functions to speed up work on future devices, Bloomberg reported Tuesday, citing people familiar with the matter.The shuffling, including in product design, was made this month and is intended to better integrate teams working on in-house silicon with those creating products, the report said.Apple did not immediately respond to a request for comment by.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $297.26, Change: $-0.58, Percent Change: -0.20%

$AAPL
Wire

Market Chatter: Apple Working on AI Writing Tools, Shortcuts for iOS 27

Apple (AAPL) is preparing new AI features for iOS 27 and iPadOS 27 as it looks to narrow the gap with rivals such as Alphabet's (GOOGL, GOOG) Google and Samsung, Bloomberg reported Monday, citing people familiar with the matter.The company is testing upgraded AI-powered writing tools, including grammar checking and new "Write With Siri" and "Help Me Write" features that would integrate AI assistance directly into text fields.Apple is also upgrading its Shortcuts app, allowing users to create automations using natural language prompts instead of building them manually, according to the report.The new software, expected to be unveiled at Apple's Worldwide Developers Conference in June, may also include AI-generated wallpaper creation tools for iPhones and iPads, Bloomberg reported.Apple did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $296.39, Change: $-3.84, Percent Change: -1.28%

$AAPL
Tech Gains Lift Nasdaq, S&P 500 to New Highs
US Markets

Tech Gains Lift Nasdaq, S&P 500 to New Highs

The Nasdaq Composite and the S&P 500 hit new peaks on Thursday, buoyed again by gains in the technology sector.The Nasdaq rose 0.9% to 26,635.2, while the S&P 500 climbed 0.8% to 7,501.4 -- both logging record closing highs for the second straight day. The Dow Jones Industrial Average added 0.8% to settle at 50,063.5.Six of the 11 sectors were in the green, led by tech's 1.9% jump, while materials saw the biggest drop. The tech sector rallied yesterday too, ahead of high-stakes talks between US President Donald Trump and his Chinese counterpart, Xi Jinping.Cisco Systems (CSCO) shares rallied 13%, the biggest gainer on the S&P 500 and the Dow. Late Wednesday, Cisco's fiscal third-quarter results exceeded Wall Street's estimates, while the networking equipment maker announced a restructuring plan that involved thousands of layoffs.Cisco's expanded hyperscaler partnerships are paying dividends for the company, as evidenced by management expectations for a surge in artificial intelligence orders, Morgan Stanley said in a note e-mailed Thursday.Nvidia (NVDA) followed Cisco on the Dow, up 4.4%. IBM (IBM), Salesforce (CRM) and Microsoft (MSFT) also closed higher.About 10 Chinese companies have secured US clearance to purchase Nvidia's H200 AI chip, Reuters reported, citing unnamed sources."Despite this approval, however, H200s still have not made their way to China given the apparent reluctance of Beijing to support Chinese firms' purchase of American made accelerators," Wedbush Securities analyst Matt Bryson said in a report. "We view this week's talks between the US and China as a chance to possibly shift this dynamic."Trump arrived in China on Wednesday, along with Nvidia Chief Executive Jensen Huang and other executives of major American companies. China's Xi told Huang and CEOs of companies including Apple (AAPL) and Tesla (TSLA) that China will "open wider" to doing business, news outlets reported.Boeing (BA) is set to get an order for 200 jets from China, Fox News reported, citing Trump. The US planemaker's shares declined 4.7%, the biggest drop on the Dow.US Treasury yields were higher in Thursday late-afternoon trade, with the 10-year rate up 1.4 basis points at 4.48% and the two-year rate rising 2.1 basis points to 4.01%.West Texas Intermediate crude was last up 1% at $102.07 a barrel, while Brent rose 0.9% to $106.55.Xi and Trump agreed that the crucial Strait of Hormuz should remain open, The Wall Street Journal reported, citing a White House readout of the Trump-Xi talks."The market could be pinning too much hope on the US-China talks yielding some positive results on Iran," ING Bank said in a note. "Some hope that China could exert pressure on Iran to reach a deal with the US, to end the war and lead to a resumption of energy flows through the Strait of Hormuz."In other company news, Cerebras Systems (CBRS) surged 68% in its public market debut on Thursday, after the artificial intelligence chipmaker priced its initial public offering at well above the top end of the projected range.In economic news, US retail sales in April rose for the third straight month, with analysts saying the increase largely reflected higher prices as the war in Iran kept fuel costs elevated.Inflation has become the "most pressing risk" to the US economy, Kansas City Fed President Jeff Schmid said Thursday."While inflation has moderated significantly from its peak, in my discussions with business leaders across the Tenth District, it is clear that it is still too high," Schmid said in prepared remarks for a conference.Gold was last down 1.1% at $4,654.70 per troy ounce, while silver tumbled 6.2% to $83.84 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$BA$CBRS$CSCO$NVDA$TSLA
Sectors

Sector Update: Tech Stocks Rise Late Afternoon

Tech stocks were higher late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.7% and the State Street SPDR S&P Semiconductor ETF (XSD) up 0.4%.The Philadelphia Semiconductor index increased 0.8%.In corporate news, Nvidia (NVDA) shares climbed 4%. About 10 Chinese firms have secured US clearance to buy Nvidia's H200 AI chip, Reuters reported, citing unnamed sources. Nvidia Chief Executive Jensen Huang is accompanying President Donald Trump in his China trip, along with executives of several other major US tech companies.Cerebras Systems (CBRS) stock was up more than 72% in late trading following its Nasdaq debut.Cisco (CSCO) shares jumped 13% after it reported a year-over-year jump in fiscal Q3 earnings and revenue, topping market expectations, and raised its fiscal 2026 guidance. The firm also announced restructuring plans that included lay-offs of nearly 4,000 employees.Microsoft-backed (MSFT) OpenAI is preparing possible legal action against Apple (AAPL) as the partnership between the two companies has become strained, Bloomberg reported. Apple shares were fractionally lower, and Microsoft was up 1%.

$AAPL$CBRS$CSCO$MSFT$NVDA
Equities Rise Intraday Amid Cisco-Led Tech Rally; Trump-Xi Summit in Focus
US Markets

Equities Rise Intraday Amid Cisco-Led Tech Rally; Trump-Xi Summit in Focus

US benchmark equity indexes were higher intraday amid a post-earnings rally in Cisco Systems (CSCO), while markets tracked updates of a high-stakes meeting between President Donald Trump and his Chinese counterpart, Xi Jinping.The Nasdaq Composite was up 0.8% at 26,614 after midday Thursday, while the S&P 500 rose 0.7% to 7,496.6. Both indexes hit fresh record highs in the previous session. The Dow Jones Industrial Average was up 0.7% at 50,054.1 intraday Thursday.Most sectors were in the green, led by technology's 1.6% jump, while materials saw the biggest drop.Cisco shares were up nearly 13%, the biggest gainer on the S&P 500 and the Dow. Late Wednesday, Cisco's fiscal third-quarter results exceeded Wall Street's estimates, while the networking equipment maker announced a restructuring plan that involves thousands of layoffs.Cisco's expanded hyperscaler partnerships are paying dividends for the company, as evidenced by management expectations for a surge in artificial intelligence orders, Morgan Stanley said in a note e-mailed Thursday.Nvidia (NVDA) followed Cisco on the Dow intraday, up 3.6%. About 10 Chinese companies have secured US clearance to purchase Nvidia's H200 AI chip, Reuters reported, citing unnamed sources.Nvidia Chief Executive Jensen Huang is accompanying Trump in his China trip, along with executives of several other major US tech companies.Xi told Huang and CEOs of Apple (AAPL), Tesla (TSLA) and other companies that China will "open wider" to doing business, news outlets reported.Apple shares were down 0.2% intraday, while Tesla rose 0.3%.Boeing (BA) is set to get an order for 200 jets from China, Fox News reported, citing Trump. The US planemaker's shares fell 3.7%, the biggest drop on the Dow.US Treasury yields were mixed intraday, with the 10-year rate down 2.6 basis points at 4.45% and the two-year rate little changed at 3.99%.Xi has pledged not to provide military equipment to Iran, CNN reported, citing Trump.The two leaders agreed that the crucial Strait of Hormuz should remain a free waterway and Iran shouldn't be able to exact payments for the use of shipping lanes, The Wall Street Journal reported, citing a White House readout of the Trump-Xi talks."The market could be pinning too much hope on the US-China talks yielding some positive results on Iran," ING Bank said in a note. "Some hope that China could exert pressure on Iran to reach a deal with the US, to end the war and lead to a resumption of energy flows through the Strait of Hormuz."West Texas Intermediate crude was up 0.4% at $101.37 a barrel intraday, while Brent edged down 0.2% to $105.46.In economic news, US retail sales in April rose for the third straight month, with analysts saying the increase largely reflected higher prices as the war in Iran kept fuel costs elevated."Surprisingly, firm underlying retail sales in April suggest another quarter of moderate consumer spending growth, though higher inflation is bound to take a toll," BMO Capital Markets said in a note. "Inflation pressures are mounting due to the Iran conflict and could take a larger toll on overall spending."Applied Materials (AMAT) is scheduled to report its latest quarterly financial results after the closing bell Thursday.Gold was down 0.4% at $4,687.30 per troy ounce, while silver fell 4.5% to $85.33 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMAT$BA$CSCO$NVDA$TSLA
Sectors

Sector Update: Tech Stocks Mixed Thursday Afternoon

Tech stocks were mixed Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.1% and the State Street SPDR S&P Semiconductor ETF (XSD) shedding 0.6%.The Philadelphia Semiconductor index increased 0.1%.In corporate news, Cisco (CSCO) shares jumped 12% after it reported a year-over-year jump in fiscal Q3 earnings and revenue, topping market expectations, and raised its fiscal 2026 guidance. The firm also announced restructuring plans that included lay-offs of nearly 4,000 employees.Microsoft-backed (MSFT) OpenAI is preparing possible legal action against Apple (AAPL) as the partnership between the two companies has become strained, Bloomberg reported. Apple shares were down 0.3%, and Microsoft was rising 0.8%.Chinese President Xi Jinping told the chief executives of Apple, Tesla (TSLA), Nvidia (NVDA) and other large companies that China will "open wider" to doing business, CNBC reported Thursday, citing a report from state-backed newspaper Xinhua. Tesla shares were fractionally higher, and Nvidia gained 3.7%.

$AAPL$CSCO$MSFT$NVDA$TSLA
Wire

Market Chatter: OpenAI Preparing for Possible Legal Action Against Apple

Microsoft-backed (MSFT) OpenAI is preparing possible legal action against Apple (AAPL) as the partnership between the two companies has become strained, Bloomberg reported Thursday, citing people familiar with the matter.OpenAI's lawyers are working with an outside law firm on a range of options, including sending Apple a notice alleging breach of contract without actually filing a full lawsuit at the outset, the report said, citing the people.OpenAI and Apple didn't immediately reply to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $297.73, Change: $-1.14, Percent Change: -0.38%

$AAPL$MSFT
Wire

OpenAI Preparing for Possible Legal Action Against Apple, Bloomberg Reports

OpenAI Preparing for Possible Legal Action Against Apple, Bloomberg Reports

$AAPL$MSFT
Wire

Tigress Financial Raises Apple Price Target to $375 From $305, Maintains Strong Buy Rating

Apple (AAPL) has an average rating of overweight and mean price target of $310.12, according to analysts polled by FactSet.Price: $298.36, Change: $-0.51, Percent Change: -0.17%

$AAPL
Wire

Top Midday Stories: Cisco Shares Soar as Guidance Tops Consensus; Alibaba, JD Reportedly Cleared to Buy Nvidia H200 AI Chips

All three major US stock indexes were up in late-morning trading Thursday, as investors monitor news emanating from President Donald Trump's meeting with Chinese President Xi Jinping in Beijing.In company news, Cisco Systems (CSCO) reported fiscal Q3 adjusted earnings late Wednesday of $1.06 per diluted share, up from $0.96 a year earlier and above the FactSet consensus analyst estimate of $1.03. Fiscal Q3 revenue was $15.8 billion, up from $14.1 billion a year ago and above the FactSet consensus of $15.6 billion. For fiscal Q4, Cisco said it expects Q4 adjusted EPS of $1.16 to $1.18 on revenue of $16.7 billion to $16.9 billion. Analysts polled by FactSet expect $1.08 and $15.8 billion, respectively. Cisco shares were up 15.0% around midday.Alibaba (BABA) and JD.com (JD) are among the roughly 10 Chinese companies that have secured US clearance to buy Nvidia's (NVDA) H200 artificial intelligence chips, though no deliveries have been made yet, Reuters reported Thursday, citing three people familiar with the matter. Alibaba and JD shares were down 1.9% and 2.1%, respectively. Nvidia shares were up 4.6%.Chinese President Xi Jinping told the chief executives of Apple (AAPL), Tesla (TSLA), Nvidia and other large companies that China will "open wider" to doing business, CNBC reported Thursday, citing a report from state-backed newspaper Xinhua. Apple shares were up 0.1%, while Tesla shares were up 0.8%.Biogen (BIIB) said Thursday that a phase 2 study evaluating diranersen in patients with early Alzheimer's disease did not meet its primary endpoint evaluating dose response for change from baseline on the Clinical Dementia Rating-Sum of Boxes at Week 76. Biogen shares were down 5.0%.Price: $117.40, Change: $+15.53, Percent Change: +15.24%

$AAPL$BABA$BIIB$CSCO$JD$NVDA$TSLA
Wire

Market Chatter: Bugs in Apple's Desktop OS Security Found Using Anthropic's Mythos

Researchers with security firm Calif found two bugs in Apple's (AAPL) desktop operating system using techniques they discovered while testing an early version of Amazon-backed (AMZN) Anthropic's Mythos AI software in April, The Wall Street Journal reported Thursday, citing comments by Calif Chief Executive Thai Duong.Apple didn't immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $299.14, Change: $+0.27, Percent Change: +0.09%

$AAPL$AMZN
Wire

Market Chatter: Xi Tells CEOs on Trump's Trip That China Will 'Open Wider'

Chinese President Xi Jinping told the chief executives of Apple (AAPL), Tesla (TSLA), Nvidia (NVDA) and other large companies that China will "open wider" to doing business, CNBC reported Thursday, citing a report from state-backed newspaper Xinhua.Tesla CEO Elon Musk, Apple CEO Tim Cook and Nvidia CEO Jensen Huang are among the group of technology executives who joined US President Donald Trump on his trip to China, the report said.The companies didn't immediately reply to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $299.73, Change: $+0.86, Percent Change: +0.29%

$AAPL$NVDA$TSLA
Nasdaq, S&P 500 Hit Fresh Highs as Tech Stocks Rise
US Markets

Nasdaq, S&P 500 Hit Fresh Highs as Tech Stocks Rise

The Nasdaq Composite and the S&P 500 reached fresh peaks on Wednesday, buoyed by a rally in technology stocks ahead of high-stakes talks between US President Donald Trump and his Chinese counterpart, Xi Jinping.The Nasdaq rose 1.2% to 26,402.3 and the S&P 500 climbed 0.6% to 7,444.3. The Dow Jones Industrial Average slipped 0.1% to 49,693.2. Most sectors ended in the green, led by communication services, followed by tech, while utilities saw the steepest decline.Chipmaking giant Nvidia's (NVDA) shares jumped 2.3%, among the best performers on the Dow. Apple (AAPL), Amazon.com (AMZN), and Cisco Systems (CSCO) also advanced. On Semiconductor (ON) shares surged 11%, the second-biggest gainer on the S&P 500.Trump arrived in Beijing Wednesday, accompanied by Nvidia Chief Executive Jensen Huang, Apple's Tim Cook, and Tesla (TSLA) CEO Elon Musk, along with other executives. Trump is set to have talks with Xi on Thursday and Friday, CNBC reported."The trip underscores the stakes for chips, tech, and the (artificial intelligence) supply chain highlighted by Nvidia's most advanced chips, which (have) faced a series of tightening US export restrictions on China sales," Wedbush Securities said in note."We believe that this summit will prove 'constructive' as it keeps the conversation focused on reopening channels where possible rather than allowing the relationship to drift into a more permanent Cold War dynamic that would ultimately slow AI diffusion and cloud monetization on both sides," Wedbush said.US Treasury yields were little changed in Wednesday late-afternoon trade, with the 10-year and two-year rates at 4.48% and 3.99%, respectively.In economic news, US producer prices in April rose at the fastest pace in four years as broad-based increases in services and goods signaled intensifying inflation pressures, official data showed."On the heels of yesterday's disappointing (consumer price index) results, the April producer price report flags intense inflation pressure in the pipeline," BMO Capital Markets said in a note. "Look for another heated consumer inflation report in May, and not solely due to costlier gasoline, as price pressures stemming from the Iran war are bleeding into other sectors of the economy."The central bank last month held rates steady for a third straight meeting and is widely expected to do so again in June, according to the CME FedWatch tool.The US Senate confirmed Kevin Warsh's nomination as Fed chair on Wednesday. Warsh is Trump's pick for the job as the term of current central bank chief Jerome Powell is set to expire on Friday.Boston Fed President Susan Collins expects the central bank to maintain its current monetary policy stance, which she described as "slightly restrictive.""More than five years of above-target inflation has reduced my patience for 'looking through' another supply shock," Collins said in prepared remarks on Wednesday. "And while it is notin my most likely outlook, I could envision a scenario in which some policy tightening is needed to ensure that inflation returns durably to 2% in a timely manner."West Texas Intermediate crude was last down 0.9% at $101.27 a barrel, while Brent fell 1.8% to $105.85.The International Energy Agency forecast a sharper decline in global oil demand this year than previously expected as the Middle East conflict drives up energy prices."More than 10 weeks after the war in the Middle East began, mounting supply losses from the Strait of Hormuz are depleting global oil inventories at a record pace," according to the report.Separately, the Organization of the Petroleum Exporting Countries reduced its global oil demand growth outlook for 2026, but upgraded its projection for next year.Trump recently rejected Iran's counteroffer to end the war, though a fragile ceasefire between the two countries still holds.In company news, Wix.com (WIX) logged a larger-than-expected annual decline in its first-quarter earnings, while the Israeli web development platform maintained its full-year outlook. The company's US-listed shares tanked 27%.Gold was last up 0.2% at $4,694.70 per troy ounce, while silver climbed 3% to $88.18 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$CSCO$NVDA$ON$TSLA$WIX
Sectors

Sector Update: Tech Stocks Gain Late Afternoon

Tech stocks were higher late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.2% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 2.9%.The Philadelphia Semiconductor index added 2.9%.In corporate news, Apple (AAPL) is exploring avenues to better integrate AI agents into its App Store, The Information reported. Apple shares rose 1.6%.Wolfspeed (WOLF) shares surged past 18% after Citrini Research reportedly highlighted the company's position in the AI space.Nvidia (NVDA) Chief Executive Jensen Huang joined President Donald Trump on his visit to Beijing, a last-minute addition that has raised expectations of progress in stalled talks over the company's H200 AI chip sales to China, Reuters reported. Nvidia shares gained 2.5%.Amazon-backed (AMZN) Anthropic is in early discussions with investors to raise at least $30 billion in new funding at a valuation exceeding $900 billion, Bloomberg reported. Amazon shares rose 1.8%.

$AAPL$AMZN$NVDA$WOLF
Sectors

Sector Update: Tech

Tech stocks were higher late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.2% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 2.9%.The Philadelphia Semiconductor index added 2.9%.In corporate news, Apple (AAPL) is exploring avenues to better integrate AI agents into its App Store, The Information reported. Apple shares rose 1.4%.

$AAPL

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