STOCKS CRUSHED A Wall Street sell-off intensified amid mounting concerns over US economy Milan - Delayed Quote • EUR (S34177.MI) Follow Compare 0.2085 0.0000 (0.00%) At close: August 2 at 3:44 PM GMT+2 Related News Palantir surging on Q2 revenue, raises 2024 profit guidance Analytics software company Palantir Technologies (PLTR) saw its revenues surge by 27% year-over-year in its second quarter earnings, reporting $678.1 million in revenue ($652.8 million expected). Its stock is soaring in after-hours trading on the company's earnings beat and its decision to raise its 2024 revenue guidance. Market Domination Overtime's Julie Hyman and Josh Lipton sift through Palantir's earnings report and the performance of its individual business segments. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Luke Carberry Mogan. Nvidia, Apple stocks drop as tech sector tumbles The tech sector is under pressure amid a global market sell-off. Market Domination Hosts Julie Hyman and Josh Lipton break down some of the biggest moves in Monday's trading session, as Nvidia's (NVDA) new AI chip could reportedly face a delay and Apple (AAPL) shares slide after Berkshire Hathaway (BRK-B, BRK-A) has sold nearly half of its holdings in the tech giant. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Melanie Riehl Google a 'monopolist,' violated US antitrust laws, judge rules A federal judge has ruled that Google (owned by Alphabet (GOOG, GOOGL)) engaged in illegal and monopolistic practices in order to maintain its dominance in internet search. In their decision, Judge Amit P. Mehta writes, "Google is a monopolist, and it has acted as one to maintain its monopoly," and that "Google has exercised its monopoly power by charging supracompetitive prices for general search text ads. That conduct has allowed Google to earn monopoly profits." The case was brought by the US Justice Department, which argued Google's practice of paying web browser companies hefty sums to be the default search engine was anti-competitive. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Stephanie Mikulich. Tesla Dojo: Elon Musk's big plan to build an AI supercomputer, explained For years, Elon Musk has talked about Dojo — the AI supercomputer that will be the cornerstone of Tesla’s AI ambitions. It’s important enough to Musk that he recently said the company’s AI team is going to “double down” on Dojo as Tesla gears up to reveal its robotaxi in October. But what exactly is Dojo? And why is it so critical to Tesla’s long-term strategy? In short: Dojo is Tesla’s custom-built supercomputer that’s designed to train its “Full Self-Driving” neural networks. Beefing up Dojo g AI chip startup Groq lands $640M to challenge Nvidia Groq, a startup developing chips to run generative AI models faster than conventional processors, said on Monday that it has raised $640 million in a new funding round led by Blackrock. Neuberger Berman, Type One Ventures, Cisco, KDDI and Samsung Catalyst Fund also participated. The tranche, which brings Groq's total raised to over $1 billion and values the company at $2.8 billion, is a major win for Groq, which reportedly was originally looking to raise $300 million at a slightly lower ($2.5 bi How the Fed could cut rates before September In response to recent signs of economic weakness, Wall Street is convinced the Federal Reserve will almost certainly cut rates by 50 basis points at their September meeting. However, with investors believing the Fed may be delayed in rate reductions, speculation is growing about a potential cut even sooner. Yahoo Finance's Jennifer Schonberger breaks down the details, discussing how the Fed can implement rate cuts outside of their scheduled meetings and historical trends that prompted emergency rate cuts. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Angel Smith What is a market correction? YF explains The Nasdaq Composite (^IXIC) has entered correction territory as recession fears push stock markets into the red. But what exactly is a market correction and how does an index enter and exit such a phase? Wealth host Brad Smith explains the details, breaking down the concept of market corrections and their implications. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Angel Smith Why this market pullback may be good for Big Tech Big Tech companies are seeing red as stock markets plummet on Monday. The most recent earnings reports from some tech giants, like Microsoft (MSFT) and Alphabet (GOOG, GOOGL), have had some investors questioning whether heavy AI investments are creating expectations and valuations that are too high. Some investors believe this pullback might actually benefit these tech names in the long run. Yahoo Finance reporter Josh Schafer breaks down the details, providing insights into the tech sector's performance. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Angel Smith Prepare for more selling pressure in the market: Strategist A massive selloff is underway on Wall Street after a disappointing jobs report last week stoked investors' fears of a recession. Academy Securities head of macro strategy Peter Tchir joins Morning Brief to discuss the movement and how investors can best position their portfolios in the case of a recession. Tchir says that today's selloff "is playing out a lot quicker" than he anticipated. He encourages investors to remain cautious, explaining, "There's a lot more selling pressure to come. When I look at things to me that are indicating that we've had what we call de-risking, people taking risk off the table, I'm not seeing it. You're still getting flows into things like TQQ (TQQQ), NVDL (NVDL), which is a leveraged Nvidia (NVDA) ETF. So I think there's more selling pressure to come." He notes that if the market breaks below its 200-day moving averages, "that's where it does get dangerous." He adds, "My fear is that we'll bounce off that 200-day moving average of support a little bit. But if we break it, you know, not to say all hell breaks loose, but yes, I think it could get ugly pretty quickly." As investors prepare for a recession, Tchir encourages them to start taking profits in areas like investment-grade bonds: "Free up that cash so you can put it to work in equities if and when the time is right." He is bullish on the energy sector, pointing to XLE (XLE) and oil (CL=F, BZ=F) as investment opportunities that could get a boost in the case of a major geopolitical event. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Melanie Riehl Tesla stock falls as global sell-off hits US markets A widespread global market sell-off has sent US stock markets tumbling as investors struggle with growing recession concerns. Tesla (TSLA) shares have fallen more than 10% at the open amid this downturn. Morning Brief co-hosts Seana Smith and Brad Smith explore additional factors that may be contributing to the electric vehicle maker's stock decline. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith Sell-off similar to Black Monday, but it shall pass: Yardeni Stocks (^DJI, ^IXIC, ^GSPC) are taking a beating Monday morning as tech sell-offs drag down the major market indexes and volatility (^VIX) spikes higher. Is July's disappointing employment data mainly to blame? Yardeni Research President Ed Yardeni joins The Morning Brief to discuss how the unwinding in equity markets, especially overseas like in Japan's Nikkei 225 (^N225), is reminiscent of 1987's Black Monday, but not entirely indicative of a recession. "And I don't think this, what we're seeing here is attributable to an imminent recession or that we're in a recession now. I think this too shall pass and I think the economy is going to prove to be surprisingly resilient," Yardeni says, commenting on whether this may incentivize the Federal Reserve to push through an early interest rate cut or wait until September. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Luke Carberry Mogan. 3 drivers behind Monday's market downturn US stock markets (^DJI, ^IXIC,^GSPC) are falling as recession fears grip investors, triggering a widespread sell-off. Yahoo Finance Executive Editor Brian Sozzi examines three key factors potentially driving the downturn including the Federal Reserve's delay in implementing rate cuts, Warren Buffett's Berkshire Hathaway (BRK-A, BRK-B) reducing its positions in tech stocks, and a lack of return on investment (ROI) from Big Tech's AI ventures. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith DSA vs. DMA: How Europe's twin digital regulations are hitting Big Tech It's no accident that the European Union's Digital Services Act and Digital Markets Act have such similar-sounding names: They were conceived together and, at the end of 2020, proposed in unison as a twin package of digital policy reforms. EU lawmakers had overwhelmingly approved them by mid-2022, and both regimes were fully up and running by early 2024. While each law aims to achieve distinct things, via its own set of differently applied rules, they are best understood as a joint response to B Wall Street will support heavy AI spending as long as everything else is going great When tech companies confess some weakness in their core operations, their AI spending becomes a liability. Dow Jones Futures: 'Fear Index' Soars As Apple, Nvidia, Tesla Dive; AI Stock Palantir Surges On Earnings Dow Jones Futures: The VIX, known as the Fear Index, soared Monday, as Apple, Nvidia and Tesla plunged. Palantir surged on earnings late. Google abused its power to maintain monopoly on search, US court rules Google abused its power to maintain an illegal monopoly over the online search market, a US judge has ruled. Bets on emergency US rate cut ramp up as recession fears grow Investors have ramped up bets that the US Federal Reserve will be forced into an emergency interest rate cut to support the economy as fears of recession grow. Sell-off on Wall Street: Why it is happening and what it says about the economy It's nail-biting time on Wall Street. Stocks had been dropping at worrisome rates for several days, but on Monday things went from concerning to panicky. Stock Meltdown Puts S&P 500 on Brink of Correction: Markets Wrap (Bloomberg) -- A renewed bout of volatility hit financial markets as recent talk about a US economic recession — mostly seen as premature — spurred warnings that this year’s sizzling stock rally has gone too far.Most Read from BloombergSinger Akon’s Multibillion-Dollar Futuristic City in Africa Gets Final NoticeThe 5 Coastal States That Face the Most Devastating Flood RiskParis Spent €1.4 Billion to Clean Up the Seine. Has It Worked?New York City’s Outdoor Dining Sheds Will Start DisappearingWha Nvidia Stock, Hardware Partners Punished By AI Chip Delay Nvidia stock and shares of data-center hardware vendors tumbled amid reports of a delay for Nvidia's next-generation AI processor.