59 stories mentioning APPUpdated 9d ago
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AppLovin (APP) has an average rating of buy and mean price target of $512.13, according to analysts polled by FactSet.Price: $311.02, Change: $-9.54, Percent Change: -2.98%
AppLovin (APP) has an average rating of buy and mean price target of $519.94, according to analysts polled by FactSet.Price: $311.59, Change: $+3.48, Percent Change: +1.13%
AppLovin (APP) has an average rating of buy and mean price target of $550.93, according to analysts polled by FactSet.Price: $312.81, Change: $+0.83, Percent Change: +0.27%
The Standard & Poor's 500 index rose 0.4% this week after cooling inflation and an unexpected drop in retail sales boosted the odds for a sixth straight monetary policy pause in September.The market benchmark ended the week at 7,785.76. The index is now up 3.8% quarter-to-date and 14% this year.The probability of the Federal Reserve extending its policy pause next month jumped after July's consumer and wholesale price inflation rates, both headline and core, declined and retail sales for the month unexpectedly slumped the most since May 2025. There's now a 67% chance that the Fed will leave interest rates unchanged, up from 56% a week ago, according to the CME FedWatch tool.Treasury Secretary Scott Bessent said on CNN that the US plans to announce measures on Iran next week that have "never been seen."Defense Secretary Pete Hegseth said the US can sustain its blockade against Iran "indefinitely," Al Jazeera reported.The energy sector in the S&P 500 had the largest percentage gain of the week, up 7.3%, followed by a 1.5% advance in utilities and 1% increases for both consumer staples and health care. Financials, industrials, real estate and tech also rose week to week.Phillips 66 (PSX) is expected to accelerate share repurchases in H2 this year, supported by ongoing balance sheet deleveraging, UBS said in a note. Separately, Phillips 66, Kinder Morgan (KMI), and HF Sinclair (DINO) said they have reached a final investment decision to move forward with a joint venture to build the $5 billion Western Gateway Pipeline system. Shares of Phillips 66 surged 15% this week.Three S&P 500 sectors that declined this week were consumer discretionary, communication services and materials, down 2%, 1% and 0.9%, respectively.Tapestry (TPR) shares tumbled 21% this week after the company set out a fiscal 2027 revenue outlook below the midpoint of Wall Street's forecast range, taking the shine off stronger-than-expected fiscal Q4 adjusted earnings and revenue.AppLovin's (APP) 30% long-term annual revenue growth target lacks sufficient evidence, with uncertainty rising around the sustainability of its self-learning growth, BofA Securities said in a report. BofA downgraded its rating on AppLovin stock to neutral from buy and lowered its price target to $400 from $430. Shares of Applovin slumped 9% this week.Home Depot (HD), Analog Devices (ADI), TJX Companies (TJX), Lowe's Companies (LOW), Target (TGT), Walmart (WMT), Deere (DE), Ross Stores (ROST), NetEase (NTES) are among the companies reporting quarterly results next week.Economic data due next week includes the July minutes of the Federal Open Market Committee meeting, S&P Global manufacturing and services purchasing managers' indexes, industrial production, building permits and housing starts.
AppLovin's (APP) Q2 challenges were largely related to the timing of a major "model improvement" rather than significant changes in demand or the competitive environment, RBC Capital Markets said in a note Thursday.The company's management said a "sizable" architectural model improvement was pushed from Q2 into Q3, with the company choosing not to accelerate the rollout at the expense of longer-term benefits. The improvement expands the parameters the model can ingest and is expected to allow AppLovin to make more complete use of its existing data.The investment firm said current Q3 guidance includes the benefit from the model improvement implemented early in the quarter but does not assume an "incremental inflection."AppLovin's management also continues to see a long growth "runway" in gaming, though stronger growth over the next three to five years will require a larger contribution from consumer and e-commerce, according to the report.RBC maintained its outperform rating and $575 price target on AppLovin.Shares of AppLovin were up 3% in Thursday afternoon trading.Price: $312.74, Change: $+8.98, Percent Change: +2.96%
(Updates with index/price moves, macroeconomic data and geopolitical news from the first paragraph.)US equity indexes fell Tuesday amid declines in growth sectors as higher crude oil prices and fading hopes of a quick reopening of the Strait of Hormuz increased focus on July's consumer price inflation data.The Nasdaq Composite retreated 0.6% to 26,445.45, the S&P 500 slid 0.3% to 7,728.20, and the Dow Jones Industrial Average slipped 0.3% to 53,791.85. Communication services, consumer discretionary and technology were among the steepest decliners. Energy led the gainers.AppLovin's (APP) 30% long-term annual revenue growth target lacks sufficient evidence, with uncertainty rising around the sustainability of its self-learning growth, BofA Securities said in a note. Shares dropped 6%, the worst performer on the S&P 500 and the Nasdaq.SK Hynix (SKHY) plans to resume construction at its second NAND flash facility in Dalian, China, to boost output by about 50%, Seoul Economic Daily reported. Shares jumped 4.7%, the top performer among stocks with market capitalization of more than $200 billion each, according to data compiled by Finviz. The worst performers in this category were SpaceX (SPCX), down 3.9%, followed by Alphabet (GOOG, GOOGL) and Dell Technologies (DELL).Mohsen Rezaee, secretary of Iran's Supreme National Security Council, told China's ambassador the Strait of Hormuz "will not be opened until the United States changes its behavior and accepts Iran's conditions," Al Jazeera, a Middle Eastern broadcaster, said, citing Iran's Tasnim news agency. "America must end the war, pay Iran's frozen assets, the war must end throughout the region, including in Lebanon and Gaza," Reuters cited Rezaee as saying in a report from Tasnim.A Saudi-owned commercial vessel was reportedly struck by a missile while transiting the Bab al-Mandeb Strait in the Red Sea, CNN reported, citing Marisks, a marine intelligence group. An incident involving a container ship and an unknown military force in the Gulf of Oman has been reported by the UK Maritime Trade Operations, the news report added.Front-month US West Texas Intermediate crude oil climbed 1.7% to $83.50 per barrel, and global benchmark North Sea Brent advanced 1.5% to $89.17 per barrel, fueling concern that higher energy prices will make it challenging for the Federal Reserve to extend its five-meetings-long pause.Speaking to inflationary concerns ahead of consumer prices due Wednesday, Cleveland Fed President Beth Hammack noted on Monday that price pressures are rising, according to a Stifel note. Hammack, one of the three dissenters who opposed the July policy hold, said more than one rate increase may be needed to ease inflation back to the Fed's 2% target.The pace of US existing home sales fell by 1.7% to a 4.06 million seasonally adjusted annual rate in July from 4.13 million in June, compared with a larger expected decrease to a 4.05 million rate in a survey compiled by Bloomberg, data from the National Association of Realtors released Tuesday showed.The National Federation of Independent Business's monthly Small Business Optimism Index rose to 99.8 in July from 97.4 in June.Redbook US same-store sales jumped 8.3% from a year earlier in the week ended Aug. 8 after an 8.7% surge in the previous week.
(Updates with market moves at the end of the day, and other changes, if any.)US stocks fell for a second straight session on Tuesday and oil prices extended their rally, as the reopening of the Strait of Hormuz appeared increasingly uncertain.The Nasdaq Composite fell 0.6% to 26,445.45. The S&P 500 and the Dow Jones Industrial Average each lost 0.3% to settle at 7,728.20 and 53,791.85, respectively. Most sectors sectors were in the red, led by communication services.West Texas Intermediate crude oil was up 1.6% at $83.41 a barrel in Tuesday late-afternoon trade, while Brent advanced 1.6% to $89.11. The US crude oil benchmark was on track for its fourth consecutive day of gains, while Brent is poised to stretch its rally to a fifth session.Secretary of Iran's Supreme National Security Council Mohsen Rezaei said Tuesday that the Strait of Hormuz will remain closed as long as the US does not accept Tehran's conditions, Reuters reported.Previously, Pakistani Defense Minister Khawaja Asif told Bloomberg News that the US and Iran were close to "some sort of an arrangement."Iran has reportedly laid out new terms for reopening the Strait of Hormuz, including a permanent end to the war against Tehran and its allies, as well as demanding full compensation for war damages. In response, US President Donald Trump on Monday demanded compensation for those he claimed were killed and wounded by Iran's attacks.Trump recently indicated to the media that he's prepared to exert greater economic pressure on Iran instead of launching another military attack."Uncertainty over a US-Iran deal to end the war and reopen the Strait of Hormuz has grown after Trump demanded compensation for victims of Iranian-backed conflicts, responding to Tehran's reparations demands," Saxo Bank said Tuesday in a report. "The tougher stance lowers chances of a near-term agreement and keeps markets wary, as Iran ties any Hormuz deal with Oman to a broader accord with the US and Trump opts for economic pressure over new strikes."A missile struck a Saudi commercial vessel while transiting the Bab al-Mandeb Strait, CNN reported Tuesday, citing Yemeni officials and shipping sources. That strait connects the Red Sea to the Gulf of Aden and Arabian Sea. It is an alternative route to the Strait of Hormuz.US Treasury yields were lower intraday, with the two-year rate down 1.5 basis points at 4.22% and the 10-year rate shedding less than a basis point to 4.69%.In company news, Nvidia (NVDA) said it partnered with six major financial institutions to raise more than $500 billion in third-party capital for artificial intelligence infrastructure.The tech bellwether signed memorandums of understanding with Apollo (APO), BlackRock (BLK), Blackstone (BX), Brookfield (BN), Goldman Sachs (GS) and KKR (KKR) to establish independent compute financing platforms, it said late Monday.KKR shares jumped 6.9%, the best performer on the S&P 500. Apollo advanced 6.3%, the third-biggest gain on the index. Blackstone rose 3.9%, while BlackRock and Brookfield were also higher. Goldman and Nvidia ended little changed.AppLovin (APP) slumped 6%, the worst performer on the S&P 500, following a rating downgrade from BofA Securities.Sea (SE) reported stronger-than-expected second-quarter revenue as the Singapore-based company logged sharp annual gains in its e-commerce platform and the digital financial services business. Its US-listed shares jumped nearly 15%.In economic news, existing home sales in the US declined more than expected last month as rising prices and mortgage rates continued to weigh on homebuying activity, data from the National Association of Realtors showed.Spot gold fell 0.5% to $4,369.79 per troy ounce, while silver dropped 0.5% to $64.92.
US equity indexes ended lower Tuesday amid rising crude oil prices, Iran's uncertainty on the Strait of Hormuz reopening and a decline in tech stocks.* "America must end the war, pay Iran's frozen assets, the war must end throughout the region, including in Lebanon and Gaza," Reuters cited Mohsen Rezaee, secretary of Iran's Supreme National Security Council, as saying in a report from Tasnim.* The pace of US existing home sales fell by 1.7% to a 4.06 million seasonally adjusted annual rate in July from 4.13 million in June, according to data from the National Association of Realtors. This compares with a larger expected decrease to a 4.05 million rate in a survey compiled by Bloomberg.* Redbook US same-store sales jumped 8.3% from a year earlier in the week ended Aug. 8 after an 8.7% surge in the previous week.* September West Texas Intermediate crude oil rose $1.32 to settle at $83.45 per barrel, while October Brent crude, the global benchmark, was last seen up $1.43 at $89.15.* Nvidia (NVDA) said it partnered with Apollo (APO), BlackRock (BLK), Blackstone (BX), Brookfield (BN), Goldman Sachs (GS) and KKR (KKR) to raise more than $500 billion in third-party capital for artificial intelligence infrastructure. KKR shares were up about 6.9%, the best performer on the S&P 500, followed by Apollo's 6.3% gain, the third-biggest gain on the index.* AppLovin's (APP) 30% long-term annual revenue growth target lacks sufficient evidence, with uncertainty rising around the sustainability of its self-learning growth, BofA Securities said Tuesday in a report. Shares were down roughly 6%, the worst performer on the S&P 500 and the Nasdaq.
(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes retreated Tuesday amid a slide in growth sectors, while crude oil extended gains as expectations of a quick reopening of the Strait of Hormuz declined.The Nasdaq Composite fell 0.7% to 26,433.1, the S&P 500 declined 0.3% to 7,729.1, and the Dow Jones Industrial Average was 0.3% lower at 53,803.5 ahead of Tuesday's close. Communication services was the standout decliner, followed by consumer discretionary and technology. Energy led gainers.AppLovin's (APP) 30% long-term annual revenue growth target lacks sufficient evidence, with uncertainty rising around the sustainability of its self-learning growth, BofA Securities said Tuesday in a report. Shares dropped 5.3%, the worst performer on the S&P 500 and the Nasdaq.SK hynix (SKHY) plans to resume construction at its second NAND flash facility in Dalian, China, to boost local output by about 50%, Seoul Economic Daily reported, citing semiconductor industry sources. Its shares jumped 3.7%, the top performer among stocks with market capitalization of more than $200 billion each, according to data compiled by Finviz. The worst performers in this category were SpaceX (SPCX), down 4.3%, followed by Dell Technologies (DELL) and Oracle (ORCL).Mohsen Rezaee, secretary of Iran's Supreme National Security Council, told China's ambassador that the Strait of Hormuz "will not be opened until the United States changes its behavior and accepts Iran's conditions," Al Jazeera, a Middle Eastern broadcaster said, citing Iran's Tasnim news agency."America must end the war, pay Iran's frozen assets, the war must end throughout the region, including in Lebanon and Gaza," Reuters cited Rezaee as saying in a report from Tasnim. Pakistan's Interior Minister Mohsin Naqvi has arrived in Tehran for talks with Iranian officials amid mediation efforts to end the US-Israeli war on Iran and reopen the Strait of Hormuz, Al Jazeera reported.Front-month US West Texas Intermediate crude oil climbed 1.3% to $83.22 per barrel, and global benchmark North Sea Brent advanced 1.3% to $88.87 per barrel, extending gains.
Tech stocks were mixed late Tuesday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) easing 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 0.7%.The Philadelphia Semiconductor Index rose 0.6%.In corporate news, AppLovin (APP) shares fell 5.3% after BofA Securities downgraded the stock to neutral from buy and lowered the price target to $400 from $430. The company's 30% long-term annual revenue growth target lacks sufficient evidence, with uncertainty rising around the sustainability of its self-learning growth, BofA said.SK hynix (SKHY) plans to resume construction at its second NAND flash facility in Dalian, China, to boost local output by about 50%, Seoul Economic Daily reported. The shares rose 3.9%.Intel (INTC) priced a public offering of about 210.5 million shares at $95 each. The offering was upsized to $20 billion from $15 billion. The stock was little changed.Nvidia (NVDA) is developing a new in-house AI model called Nemotron 4 that it hopes will perform on par with the best open-source AI models, The Information reported. Nvidia confirmed tothat the company is developing Nemotron 4. Separately, Nvidia said late Monday it partnered with six major financial institutions to raise more than $500 billion in third-party capital for AI infrastructure. Nvidia shares rose 0.2%.
AppLovin (APP) shares were down more than 5% in Tuesday trading after BofA Securities downgraded the stock to neutral from buy and lowered the price target to $400 from $430.Trading volume stood at over 5.3 million shares, compared with a daily average of 5.9 million.Price: $321.23, Change: $-17.77, Percent Change: -5.24%
(Updates with latest market prices and developments.)US benchmark equity indexes fell intraday and oil prices extended their rally amid growing uncertainty around the reopening of the Strait of Hormuz.The Nasdaq Composite was down 0.6% at 26,436.2 after midday Tuesday, while the S&P 500 lost 0.3% to 7,727.5. The Dow Jones Industrial Average slipped 0.2% to 53,871.7. Among sectors, communication services saw the steepest decline, while energy paced the gainers.Secretary of Iran's Supreme National Security Council Mohsen Rezaei said Tuesday that the Strait of Hormuz will remain closed as long as the US does not accept Tehran's conditions, Reuters reported.Previously, Pakistan's Defense Minister Khawaja Asif told Bloomberg that the US and Iran were close to "some sort of an arrangement."Iran has reportedly laid out new terms for reopening the Strait of Hormuz, including a permanent end to the war against Tehran and its allies, as well as demanding full compensation for war damages. In response, US President Donald Trump on Monday demanded compensation for those he claimed were killed and wounded by Iran's attacks.Trump recently indicated to the media that he's prepared to exert greater economic pressure on Iran instead of launching another military attack."Uncertainty over a US-Iran deal to end the war and reopen the Strait of Hormuz has grown after Trump demanded compensation for victims of Iranian-backed conflicts, responding to Tehran's reparations demands," Saxo Bank said Tuesday in a report. "The tougher stance lowers chances of a near-term agreement and keeps markets wary, as Iran ties any Hormuz deal with Oman to a broader accord with the US and Trump opts for economic pressure over new strikes."West Texas Intermediate crude oil was up 1.2% at $83.14 a barrel intraday, while Brent advanced 1.1% to $88.68. The US crude oil benchmark was on track for its fourth consecutive day of gains, while Brent is poised to stretch its rally to a fifth session.US Treasury yields were lower intraday, with the two-year rate down 1.5 basis points at 4.22% and the 10-year rate shedding 1.6 basis points to 4.68%.In company news, Nvidia (NVDA) said it partnered with six major financial institutions to raise more than $500 billion in third-party capital for artificial intelligence infrastructure.The tech bellwether signed memorandums of understanding with Apollo (APO), BlackRock (BLK), Blackstone (BX), Brookfield (BN), Goldman Sachs (GS) and KKR (KKR) to establish independent compute financing platforms, it said late Monday.KKR shares jumped 6.7%, the best performer on the S&P 500. Apollo advanced 6.4%, the second-biggest gain on the index. Blackstone rose 4.3%, while BlackRock, Brookfield and Goldman were also higher. Nvidia was up 0.1%.AppLovin (APP) slumped 5.3%, the worst performer on the S&P 500, following a rating downgrade from BofA Securities.Sea (SE) reported stronger-than-expected second-quarter revenue as the Singapore-based company logged sharp annual gains in its e-commerce platform and the digital financial services business. Its shares jumped 14% intraday.Lumentum (LITE), CoreWeave (CRWV) and Super Micro Computer (SMCI) are scheduled to release their earnings reports after the markets close on Tuesday.In economic news, existing home sales in the US declined more than expected last month as rising prices and mortgage rates continued to weigh on homebuying activity, data from the National Association of Realtors showed.Spot gold edged down 0.4% to $4,372.79 per troy ounce, while silver dropped 0.5% to $64.97.
(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes slipped amid a decline in growth sectors, while crude oil extended gains as investors weighed geopolitical developments in the Middle East to gauge the timing for a reopening of the Strait of Hormuz.The Nasdaq Composite fell 0.5% to 26,476, the S&P 500 slipped 0.2% to 7,738.5 and the Dow Jones Industrial Average was 0.1% lower at 53,907.9.Communication services, consumer discretionary and technology led decliners, while energy topped the gainers.SK hynix (SKHY) plans to resume construction at its second NAND flash facility in Dalian, China, to boost local output by about 50%, Seoul Economic Daily reported, citing semiconductor industry sources. Its shares jumped 3.2%, the top performer among stocks with market capitalization of more than $200 billion each, according to data compiled by Finviz.AppLovin's (APP) 30% long-term annual revenue growth target lacks sufficient evidence, with uncertainty rising around the sustainability of its self-learning growth, BofA Securities said Tuesday in a report. Shares dropped 5.2%, the worst performer on the S&P 500 and the Nasdaq.US and Iran are "close to some sort of arrangement" over the Strait of Hormuz, Pakistan's defense minister was cited as saying in a Bloomberg report. Majed al-Ansari, Qatar's Foreign Ministry spokesman, said negotiations between Oman and Iran on the future of shipping in the Strait of Hormuz have reached an advanced stage, Al Jazeera, a Middle Eastern broadcaster, reported. Pakistan's Interior Minister Mohsin Naqvi is heading to Tehran to hold talks with his Iranian counterpart, Bloomberg cited Iran's semi-official Fars agency.A Saudi-owned commercial vessel was reportedly struck by a missile while transiting the Bab al-Mandeb Strait in the Red Sea, shipping sources and Yemeni officials told marine intelligence group Marisks, according to CNN. An incident involving a container ship and an unknown military force in the Gulf of Oman has been reported by the UK Maritime Trade Operations, CNN reported.Mohsen Rezaee, secretary of Iran's Supreme National Security Council, told China's ambassador that the Strait of Hormuz "will not be opened until the United States changes its behavior and accepts Iran's conditions," Al Jazeera cited Iran's Tasnim news agency.The front-month US West Texas Intermediate crude oil contract climbed 1.39% to $83.27 per barrel, and global benchmark North Sea Brent advanced 1.1% to $88.69 per barrel, extending gains this week.US Treasury yields fell, with the 10-year yield down 1.6 basis points to 4.68% and the two-year lower by 1.5 basis points to 4.22%, giving up all gains before the US equity market opened for regular trading on Tuesday.Gold futures rose 0.6% to $4,444.01, while silver futures slipped 0.3% to $65.07.In economic news, the pace of US existing home sales fell by 1.7% to a 4.06 million seasonally adjusted annual rate in July from 4.13 million in June, compared with a larger expected decrease to a 4.05 million rate in a survey compiled by Bloomberg, data from the National Association of Realtors released Tuesday showed.The National Federation of Independent Business's monthly Small Business Optimism Index rose to 99.8 in July from 97.4 in June but was below the 100.3 reported a year earlier.Redbook US same-store sales jumped 8.3% from a year earlier in the week ended Aug. 8 after an 8.7% surge in the previous week.
AppLovin's (APP) 30% long-term annual revenue growth target lacks sufficient evidence, with uncertainty rising around the sustainability of its self-learning growth, BofA Securities said Tuesday in a report.Engineer-led enhancements to AppLovin's gaming models drove sequential growth after Q2, while the company offered limited clarity into the durability of its projected 3% to 5% quarterly self-learning growth, the report said.AppLovin's efforts to train larger, more complex recommendation models could drive further gains, though their scale and long-term stability remain uncertain, the report said. BofA lowered its 2027 revenue growth forecast to 23% from 31% and cut its estimate on the consumer segment to $2 billion from $2.3 billion.BofA downgraded its rating on AppLovin stock to neutral from buy and lowered its price target to $400 from $430.Price: $326.56, Change: $-12.44, Percent Change: -3.67%
AppLovin (APP) has an average rating of buy and mean price target of $569.62, according to analysts polled by FactSet.
(Updates with market moves at the end of the day, and other changes, if any.)The Dow Jones Industrial Average retreated Thursday from record highs as oil prices rose following reports that US and Israeli ships won't be allowed to transit the Strait of Hormuz under a draft plan.The Dow shed 0.9% to 53,885.10, after notching three consecutive record closing highs. The S&P 500 fell 0.2% to 7,709.96, while the Nasdaq Composite edged down 0.1% to 26,348.35. Most sectors were in the red, led by industrials, real estate and materials, while energy saw the biggest gain.West Texas Intermediate crude oil was up 3.1% at $77.54 a barrel in Thursday late-afternoon trade, while Brent rose 4.1% to $82.74.Iran and Oman are reportedly close to finalizing a framework regarding the Strait of Hormuz. But US and Israeli ships would be blocked from moving through the strategic waterway, Iranian state news outlet Fars reported Thursday, according to CNBC.Asked about the Fars report, CNBC quoted an unnamed US official as saying that "any temporary routes will be without any impediments -- meaning no approvals or permissions and no tolls or charges."The proposed Iran-Oman agreement would not automatically reopen the strait, Iranian Deputy Foreign Minister Kazem Gharibabadi told the state-run Islamic Republic News Agency, according to CNN."The real hinge point now becomes the trajectory of US-Iran discussions, because meaningful progress is essential before disrupted energy flows can realistically resume," ING Bank said in a report Thursday.Treasury yields were higher, with the two-year rate rising 6.6 basis points to 4.25% and the 10-year rate up 5.1 basis points at 4.67%.Honeywell Aerospace's (HONA) fiscal second-quarter earnings fell year-over-year as revenue missed estimates. The stock plunged 23%, the worst performer on the S&P 500.AppLovin (APP) shares tumbled nearly 20%, the second-biggest decline on the benchmark equity index, after the mobile technology company reported a second-quarter revenue miss late Wednesday.Datadog (DDOG) followed AppLovin on the S&P 500, down 19%, even after the software maker reported a second-quarter beat and raised its full-year outlook.In economic news, US job cuts hit a two-year low in July even as downsizing in the tech sector continued, outplacement firm Challenger Gray & Christmas said. Separately, government data on Thursday showed that initial jobless claims rose less than expected for the week through Aug. 1.Data from the Bureau of Labor Statistics are likely to show Friday that the US economy added 80,000 nonfarm jobs last month, compared with a 57,000 increase reported for June, according to a Bloomberg-compiled survey. The unemployment rate is seen unchanged at 4.2%.Spot gold fell 0.2% to $4,239.52 per troy ounce, while silver declined 0.9% to $61.76 per ounce.
Tech stocks were mixed late Thursday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) easing 0.2% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 2.8%.The Philadelphia Semiconductor Index rose 0.7%.Nscale is informing prospective investors that it has $51 billion in contracted revenue ahead of a US initial public offering that might occur as soon as September, Bloomberg reported.Apple (AAPL) sued OpenAI, which is backed by Microsoft (MSFT), over trade secret theft, though the AI company asked a federal judge to dismiss the case as meritless, Bloomberg reported. Apple shares rose 0.5%, and Microsoft added 2.3%.Space Exploration Technologies (SPCX) will build a vertically integrated semiconductor fabrication facility in Grimes County, Texas, with phase one of the Terafab project including a capital investment of more than $16.8 billion, Governor Greg Abbott said in a statement. SpaceX shares rose 4.6%.AppLovin (APP) shares fell 20% after Q2 revenue fell short of market estimates.Palo Alto Networks' (PANW) products sold in China are undergoing a cybersecurity review by the country's regulators, Bloomberg reported. Palo Alto shares fell 0.9%.
US benchmark equity indexes fell intraday after a report claimed that a draft plan to reopen the Strait of Hormuz would likely come with restrictive conditions.The Dow Jones Industrial Average was down 0.7% at 53,946.3 after midday Thursday, while the S&P 500 fell 0.2% to 7,706.2. The Nasdaq Composite was down 0.1% to 26,344.6. On Wednesday, the Dow recorded a new all-time high.All sectors were in the red, except energy and technology.Iran and Oman are reportedly close to finalizing a framework regarding the Strait of Hormuz. But US and Israeli ships would be blocked from moving through the strategic waterway, Iranian state news outlet Fars reported Thursday, according to CNBC."The real hinge point now becomes the trajectory of US-Iran discussions, because meaningful progress is essential before disrupted energy flows can realistically resume," ING Bank said in a report Thursday.West Texas Intermediate crude oil was up 3.6% at $77.95 a barrel intraday, while Brent rose 4.4% to $82.93.Treasury yields were higher, with the two-year rate rising 6.4 basis points to 4.2% and the 10-year rate up 5.5 basis points to 4.7%.Honeywell Aerospace's (HONA) fiscal second-quarter earnings fell year-over-year as revenue missed estimates. The stock plunged 20%, the worst performer on the S&P 500.AppLovin (APP) shares tumbled 18% intraday, the second-biggest decline on the benchmark equity index, after the mobile technology company reported a second-quarter revenue miss late Wednesday.Datadog (DDOG) followed AppLovin on the S&P 500, down 16%, even after the software maker reported a second-quarter beat and raised its full-year outlook.Spot gold fell 0.1% to $4,241.80 per troy ounce, while silver declined 1.2% to $61.57 per ounce.
Tech stocks advanced Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) up 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 3%.The Philadelphia Semiconductor Index rose 1.4%.In sector news, Chinese AI company DeepSeek has resumed its second round of funding in which it seeks to raise close to $8 billion, Bloomberg reported.In corporate news, SpaceX (SPCX) will build a vertically integrated semiconductor fabrication facility in Grimes County, Texas, Governor Greg Abbott said Thursday in a statement. Phase one of the Terafab project includes a capital investment of more than $16.8 billion, Abbott said. SpaceX shares were up 2.1%.Alphabet (GOOGL) has received about $115 billion of investor orders for its latest bond sale, which is expected to raise as much as $25 billion, Bloomberg reported. Alphabet shares were down 1.3%.AppLovin (APP) shares fell past 18% after the mobile technology company's Q2 revenue fell short of market estimates.
Tech stocks were edging higher Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) fractionally up and the State Street SPDR S&P Semiconductor ETF (XSD) adding 3%.The Philadelphia Semiconductor Index rose 1.4%.In corporate news, AppLovin (APP) shares fell 18% after the mobile technology company's Q2 revenue fell short of market estimates.
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