Equity close: Decent rebound or a dead-cat bounce

US stock markets started strong and we saw 10% bounces in beaten-up memory stocks.

It didn't last but it also didn't break down. Some notable names:MU +5.1%SNDK +3.5%INTC +7.7%SKHY +2.8%NVDA +2.8%QCOM +5.8%The hyperscalers were near flat and the indexes were higher but didn't finish at the highs.

I wouldn't give the win today to the bulls or the bears.

It was a nice day but came after a brutal rout.

Non-farm payrolls may have limited the enthusiasm because it puts a rate hiking cycle back on the table.Weighing at one point was a report on a strategy shift from MSFT where they will curb third-party data centers, with Oracle cited.

That briefly sent ORCL 3% lower and weighed on the Nasdaq.

Overall, it was a tough week for stocks but the pain was concentrated heavily in just a few names.On the day:S&P 500 +0.3%Nasdaq Comp +1.1%Russell 2000 +1.0%DJIA -0.4%On the week:S&P 500 -2.7% -- worst since April 2025Nasdaq Comp -3.4% -- fourth week of declinesDJIA -0.9%Just after the close, the FT reports that Anthropic will go ahead with its IPO with a $1.25-1.75 trillion, likely $1.5 trillion.

Continue reading at the original source →