NASDAQ Financial News

defensive sectors and energy offset weakness in megacap growth stocks, while investors looked toward next week's speech by Federal Reserve Chair Jerome Powell.Megacap technology-related growth stocks dipped, with Alphabet down 1.9% and Tesla falling 1.7%, as investors fretted that interest rates could stay higher for longer. The tech-heavy Nasdaq posted the biggest weekly decline of the three major indices, losing 2.6%. With no major catalysts driving markets, focus has shifted to Powell's speech at the Jackson Hole economic symposium next Friday for clues on the interest rate outlook as well as earnings from chip designer Nvidia on Wednesday.

SoftBank Group Corp's Arm Ltd is expected to report a revenue decline of about 1% in the year ended March, when the chip designer reveals its initial public offering (IPO) filing on Monday, according to a person familiar with the matter. Arm's sales fell to $2.68 billion in the 12 months ended March 31, hurt by a slump in global smartphone shipments, the source said, requesting anonymity. Sales for the quarter ended June 30 fell 2.5% to $675 million.

Investing.com — The Dow eked out a win, but that was of mere consolation as stocks posted their worst weekly loss since March ahead of the Fed chair Jerome Powell’s appearance at the Jackson Hole economic policy symposium next week.

By Anirban Sen and Manya Saini

Everyone knows by now that Michael Burry has decided to take a billion-dollar bearish bets against the S&P 500 and the Nasdaq, as shown on his latsest 13 filing. According to the document, Scion Asset Management purchased $866 million worth of puts against the SPY and $739 million worth of puts against the QQQ, exposing over 90% of its portfolio.

(Reuters) — VinFast (NASDAQ:VFS) shares slumped for third straight session on Friday, with the Vietnamese electric automaker losing nearly half of its market value in the past two session after a blowout Nasdaq listing this week.

By Amruta Khandekar and Shristi Achar A

By Huw Jones

Risk assets from European equities to Asian stocks and cryptocurrencies fell on Friday as worries about China and higher global interest rates sapped sentiment.

Wall Street's main indexes closed lower after choppy trading on Thursday as losses in healthcare stocks eclipsed gains in Cisco and energy stocks, while upbeat economic data kept alive fears of interest rates remaining higher for longer. Weighing heavily on the S&P 500, CVS Health tumbled 8% on news that Blue Shield of California plans to cut its reliance on the company as its pharmacy benefit manager (PBM) and work with others including Amazon.com. Shares of major health insurers UnitedHealth and Cigna, which also have PBM units, dropped by 1.9% and 6.4% respectively, pushing the broader S&P 500 healthcare index 0.8% lower.

«The escalation of US bond yields is expected to limit the influx of foreign investments into the Indian market, further impacting market dynamics,» said Vinod Nair, Head of Research at Geojit Financial Services. «The market has been witnessing pressure on account of weak global cues especially because of the faltering of the Chinese economy and Fitch's warning to downgrade US mid sized banks. We expect this weakness to persist in the market in the near term in the absence of any positive trigger,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Option data suggests a broader trading range in between 19000 to 19700 zones while an immediate trading range was in between 19200 to 19500 zones. Here's breaking down the pre-market actions:STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a positive startGIFT Nifty on the NSE IX traded 16.5 points, or 0.09 per cent, higher at 19,299.50, signaling that Dalal Street was headed for positive start on Friday.

Investing.com — U.S. stock futures remained little changed during Thursday's evening trade after major benchmark indices extended declines for the third consecutive session as higher bond yields soured risk sentiment.

Investor Michael Burry, who famously predicted the 2008 housing market crash and later was played by Christian Bale in the movie “The Big Short,” has bet more than $1.6 billion on a Wall Street collapse, according to an SEC filing this week.

Treasury yield on Thursday reached its highest in 10 months, underpinned by fears that U.S. interest rates might stay higher for longer, contributing, along with China's economic woes, to world stocks languishing at five-week lows. Benchmark 10-year yields reached 4.312%, testing October's 4.338%, a break past which would be its highest since 2007.

The Dow Jones Industrial Average rose 63.87 points, or 0.18%, at the open to 34,829.61.

Also Read: Warren Buffett’s legacy will extend well beyond wealth According to the Newsweek report, Buffett's company spent only $1.4 billion in buybacks—a modest sum for the stock market and much less than the $4 billion it spent in the first quarter. The Nebraska-based legendary investor Warren Buffett, also nicknamed ‘Oracle of Omaha’, is widely followed by investors across the globe and his decisions are closely analyzed.

Wall Street ended lower on Wednesday after the Federal Reserve's minutes showed central bank officials were divided over the need for more interest rate hikes at their last meeting. The minutes of the Fed's July monetary policy meeting showed most policymakers continue to prioritize the battle against inflation, adding to uncertainty among investors about the outlook for interest rates.

«The market has been witnessing pressure on account of weak global cues especially because of the faltering of the Chinese economy and Fitch's warning to downgrade US mid sized banks. We expect this weakness to persist in the market in the near term in the absence of any positive trigger,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Option data suggests a broader trading range in between 19000 to 19800 zones while an immediate trading range in between 19200 to 19600 zones. Here's breaking down the pre-market actions:STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a negative startGIFT Nifty on the NSE IX traded 23 points, or 0.12 per cent, lower at 19,389, signaling that Dalal Street was headed for negative start on Thursday.

Stocks closed broadly lower on Wall Street, capping a day of declines worldwide, after discouraging data on China raised worries about the global economy

Investing.com — U.S. stock futures were trading in a tight range during Wednesday's evening deals, following a negative session among major benchmark averages as market participants assessed the growing possibility of further interest rate increases from Federal Reserve policymakers.

Wall Street’s weak August worsened Wednesday, as the major stock indexes racked up more losses