U.S. stocks settled lower, as the S&P 500 recorded losses after hitting fresh records on Friday. All three major indices recorded their second consecutive positive week, with the S&P 500 and Nasdaq each gaining around 1.7% last week, while the Dow gained 2.2%.
Ark Invest made significant trades involving Tempus AI, CRISPR Therapeutics, UiPath, Roblox, Reddit, Accolade, and Ibotta. ARKG and ARKK funds bought shares, while ARKW and ARKF funds sold shares.
Shares of online community and discussion platform Reddit (NYSERDDT) jumped 7.8% in the morning session after the major indices soared (Nasdaq +1.9%, S&P 500 +1.6%) after the Bureau of Labor Statistics reported that core CPI (Consumer Price Index - a measure of inflation which strips out volatile food and energy prices) for December 2024 came in better than expected, rising 3.2% year over year, compared to the consensus estimate for a 3.3% increase. This means that PPI and CPI both came in slightly below expectations. It is important because the results take additional rate hikes off the table, which some investors and market participants were beginning to whisper about.
If the transaction occurs, Wedbush’s Daniel Ives expects ByteDance to sell TikTok to Elon Musk’s X without the algorithm for $40 billion to $50 billion.
Earnings results often indicate what direction a company will take in the months ahead. With Q3 behind us, let’s have a look at Snap (NYSESNAP) and its peers.
A TikTok ban could be bad for content creators and good for social media rivals. A look at what's next, including what happens to the app on your phone.
As the Q3 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the social networking industry, including Yelp (NYSEYELP) and its peers.
