Dow Hits Record High as Nasdaq Slips
The major averages were mixed near noon, with the Dow rising to a record high as traders weigh weaker-than-expected U.S. nonfarm payrolls for June. Meanwhile, the Nasdaq was slipping amid continued pressure on technology and semiconductor names. Chip shares have experienced a notable pullback to begin the second half of the year, suggesting traders are taking profits after a strong run.Looking to the jobs report, the U.S. economy added 57,000 jobs in June, well below forecasts of 110,000 and a downwardly revised 129,000 in May. It is the lowest job gain in four months, but was roughly in line with the average monthly change over the prior 12 months. The unemployment rate dropped to 4.2% in June, down from 4.3% in May, as many people left the workforce.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:OpenAI has discussed giving the U.S. government a 5% stake in the company,Alphabethasof a EUR4.1B Android fine in EuropeTeslaof 480,126, beating expectationsRiviandelivered 12,194 vehicles in Q2 andAppleis preparing a new iPad Pro and redesigned entry-level MacBook Pro for 2027,2. WALL STREET CALLS:DAPalantirto Buy, sees "gift" at current levelsAdobeto Buy at HSBCWolfeChevronto Outperform, sees "opportunistic" entry pointSkyWestto Neutral at Goldman SachsCanaccordInfleqtionat Buy, sees 70% upside3. AROUND THE WEB:SoftBankhas resumed discussions with lenders for a $10B loan backed by its stake in OpenAI, offering a repayment guarantee to address concerns over valuing private-company shares and reduce lenders' collateral risk, Reuters saysUberhas dismissed two senior leaders at its AI data labeling business as part of a broader leadership transition, while maintaining that the division, which uses gig workers to prepare data for AI model training, continues to show strong momentum and remains an important growth initiative, Bloomberg reportsThe U.S. National Highway Traffic Safety Administration, NHTSA, closed a 2022 preliminary evaluation of 695,000 Teslavehicles over unexpected deceleration, citing less incidents and low hazard to drivers, Reuters saysProsecutors in Taiwan have detained two Super Microemployees following a raid of the company's offices over alleged shipments of Nvidiachips to China, Bloomberg reportsAnthropic has started early-stage work on its own AI chip and has held talks with Samsungas a potential manufacturing partner, The Information says4. MOVERS:SurgePayssoars after announcing anwith one of its wholesale wireless network providersAeroVironmentgains after being awarded aKratos Defensehigher after beingfor a new air defense missile systemOusterlower after filing anArbor Realtyfalls after Piper Sandleron the stock5. EARNINGS/GUIDANCE:APi Groupfor FY26Lindsay, with EPS and revenue beating consensusNational Beverage, with EPS and revenue lower year-over-yearGreenbrierand narrowed its guidance for FY26American Eaglefor Q3 and FY26INDEXES:Near midday, the Dow was up 0.65%, or 339.56, to 52,644.80, the Nasdaq was down 0.78%, or 204.12, to 25,835.91, and the S&P 500 was down 0.17%, or 13.05, to 7,470.18.
