cnbc_topnews

Here are 4 forces that drove a tough week for stocks

📰 source: cnbc_topnews · 💼 business

the s&p 500 slipped 0.6% and the nasdaq fell 2.1% for their second straight weekly loss, driven by four forces. oil prices spiked for a third week, with brent crude briefly above $100 a barrel after houthi attacks on saudi tankers, reigniting inflation fears and boosting the chance of a fed rate hike to 35% from 13%. artificial intelligence spending came under scrutiny: alphabet fell 7% after raising capex outlook to $195-205 billion with negative free cash flow, while intel dropped 8% despite strong data center revenue. in earnings, ge vernova missed eps but order growth surged 88%, while dover fell on mixed results. healthcare provided bright spots: eli lilly rose 2% on promising data for its next-generation obesity drug retatrutide, filing as a biologic to avoid medicare price negotiations. johnson & johnson gained 4.1% after fda approval of its ottava robotic surgery system, months ahead of expectations.

why it matters: geopolitical oil spike and ai capex skepticism reshaped market narratives, with healthcare innovation offering offsetting gains.

source: cnbc_topnews
sentiment: -0.40 · impact: 0.65

Surprise fall in US jobs last month as slow summer continues

📰 source: bbc_business · 💼 business us jobs fell by 23,000 last month, against forecasts for an 80,000 gain, with the bureau of labor statistics also revising down may and june payrolls by a combined 103,000. the unemployment rate still dipped to 4.1% from 4.2%, as labor

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

📰 source: cnbc_topnews · 💼 business homes sold for less than their asking price in 38 of the 50 largest u.s. housing markets in june, per redfin. the biggest discounts hit florida and texas: miami and west palm beach averaged nearly 5% below asking, while houston, austin, tampa, dallas, san antonio,

China is gaining ground in AI. But the U.S. still has a major advantage

📰 source: cnbc_topnews · 💼 business hugging face ceo clément delangue told cnbc china is clearly dominating on open models and could start dominating at the frontier by end of this year or next. chinese models are closing the gap with u.s. frontier systems despite limited access to cutting-edge compute. beijing-based

US strikes $1.2bn deal to pay German firm to halt offshore wind projects

📰 source: bbc_business · 💼 business rwe will abandon its offshore wind projects in the us after accepting a $1.2bn payout from the department of the interior. the german energy firm said it will reinvest the money into gas projects, including $900m for an lng export terminal in louisiana. rwe will

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Surprise fall in US jobs last month as slow summer continues

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

China is gaining ground in AI. But the U.S. still has a major advantage

US strikes $1.2bn deal to pay German firm to halt offshore wind projects