Stock market today: Dow, S&P 500, Nasdaq sink amid tech exodus on Wall Street

^DJI ^IXIC ^GSPC

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  Rivian banal soars to reverse losses aft announcing $2,500 self-driving upgrade, AI chip

  Rivian (RIVN) banal jumped 17% Friday, rebounding from a 6% driblet Thursday pursuing its first-ever Autonomy & AI Day, wherever it debuted the aboriginal of its tech stack.

  Needham expert Chris Pierce raised his terms people connected Rivian shares to $23 from $14 Friday successful a enactment to clients, saying: "The lawsuit accrued our assurance successful RIVN's positioning arsenic bundle (and present AI) defined vehicles progressively go manufacture array stakes..."

  FYahoo Finance's Pras Subramanian elaborate Rivian's announcements yesterday, writing:

  Read the afloat communicative here.

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  Big Tech stocks acceptable for play losses arsenic AI commercialized faces scrutiny

  Big Tech stocks sank crossed the committee Friday arsenic net results from Broadcom (AVGO) failed to conscionable precocious expectations and those from Oracle (ORCL) formed a spotlight connected fears implicit the tech industry's mounting AI costs and the payoff from that spending.

  Broadcom (AVGO) shares dove 10% successful intraday trading, portion Meta (META) and Amazon (AMZN) sank implicit 1%. Others fell fractionally, prevention for Apple (AAPL), which was flat.

  Oracle (ORCL) shares fell astir 3.5% pursuing a astir 11% diminution connected Thursday.

  Large headdress tech stocks were connected way for play losses.

  AI spot elephantine Nvidia (NVDA) was acceptable to shed 1.3%, portion Google (GOOG) and Meta were eyeing declines of 3% and 4%, respectively. Broadcom and Oracle were connected way for 6% and 12% drops.

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  How Carvana, Robinhood, Coinbase ended up successful the S&P 500

  Yahoo Finance's Ines Ferré reports:

  Read the afloat communicative here.

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  Gold futures deed record

  Gold (GC=F) reached a caller grounds Friday, soaring to a precocious of $4,381 an ounce pursuing the Federal Reserve's involvement complaint chopped yesterday.

  Gold futures antecedently deed a precocious of $4,358 connected Oct. 20.

  The precious metallic has surpassed its all-time precocious much than 50 times successful 2025 and has been connected gait for its champion twelvemonth since 1979.

  COMEX - Delayed Quote • USD

  As of 11:20:07 AM EST. Market Open.

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  Stocks diverge astatine the unfastened for a 2nd day

  Stocks traded mixed astatine the marketplace unfastened connected Friday, arsenic investors rotated retired of riskier AI commercialized bets pursuing quarterly reports from Broadcom (AVGO) and Oracle (ORCL).

  The tech-heavy Nasdaq Composite (^IXIC) fell astir 0.3% aft slumping connected Thursday. The S&P 500 (^GSPC) nudged astir 0.1% little aft ending supra 6,900 for the archetypal time.

  Meanwhile, the Dow Jones Industrial Average (^DJI) was connected way for a caller record, inching up 0.2% aft a astir 650-point beforehand during the erstwhile trading session.

  DJI - Free Realtime Quote • USD

  48,439.58

  -264.43

  (-0.54%)

  As of 11:30:07 AM EST. Market Open.

  ^DJI ^IXIC ^GSPC

  The Dow and the S&P were acceptable for play gains, portion the Nasdaq eyed a fractional decline.

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  Fed's Goolsbee, Schmid explicate votes against December complaint cut

  Two Federal Reserve officials who dissented astatine this week’s cardinal slope argumentation gathering laid retired their cases Friday for wherefore they would person preferred to support rates unchanged successful the year's last gathering this week.

  Chicago Federal Reserve president Austan Goolsbee said Friday that his ballot against the Federal Reserve's determination to little involvement rates this week resulted from his penchant to hold for much information connected ostentation earlier different cut.

  “Waiting to instrumentality this substance up successful the caller twelvemonth would not person entailed overmuch further hazard and would person travel with the added payment of updated economical information which person been absent lately,” Goolsbee said successful a statement.

  Goolsbee added helium remains “optimistic” that rates tin travel down a “significant amount” implicit the adjacent year.

  Read much here.

• Cannabis stocks surge connected study that Trump whitethorn reclassify marijuana

  Cannabis stocks exploded higher connected Friday aft a study precocious Thursday that President Trump is considering reclassifying marijuana and easing restrictions connected the industry.

  Canada's Tilray (TLRY) soared 35%, portion Canopy Growth Corporation (CGC) gained 25%, Aurora Cannabis (ACB) surged 23%, and Cronos Group (CRON) added 13% successful premarket trading.

  The summation successful Tilray's shares is connected way to astir hitch retired the company's 36% year-to-date losses. The company's banal was 1 of Yahoo Finance's apical trending tickers up of the open.

  According to Bloomberg, Trump is weighing reclassifying marijuana from a Schedule I cause (which encompasses LSD and heroin) to a Schedule III drug. He has reportedly discussed this with manufacture executives, arsenic good arsenic Health and Human Services Secretary Robert F. Kennedy Jr. and Centers for Medicare & Medicaid Services head Mehmet Oz.

  Read much here.

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  Good morning. Here's what's happening today.

• Why Disney's OpenAI confederation is simply a blueprint for AI contented deals

• Deutsche Bank, Goldman spot Fed complaint cuts rekindling dollar’s slide

  Bloomberg reports:

  Deutsche Bank AG (DB), Goldman Sachs Group Inc (GS). and different Wall Street banks are forecasting that the US dollar (DX=F) volition resume its descent adjacent twelvemonth arsenic the Federal Reserve keeps nudging down involvement rates.

  The currency has stabilized implicit the past six months aft tumbling by the astir since the aboriginal 1970s during the archetypal fractional of the twelvemonth erstwhile President Donald Trump’s commercialized warfare unleashed havoc successful planetary markets.

  But strategists expect the greenback to weaken again successful 2026 arsenic the US cardinal slope continues to easiness monetary argumentation conscionable arsenic others clasp dependable oregon determination person toward raising rates. That rift would springiness investors an inducement to merchantability US indebtedness and displacement the currency to countries wherever payouts are higher.

  As a result, forecasters astatine much than fractional a twelve large concern banks are mostly predicting that the dollar volition gaffe against large counterparts similar the yen, euro and pound. According to the statement estimates compiled by Bloomberg, a wide tracked scale of the dollar volition weaken immoderate 3% by the extremity of 2026.

  Read much here.

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  Premarket trending tickers: UBS, RH, WBD

  UBS (UBS) banal roseate 3% earlier the doorbell connected Friday aft Swiss politicians projected changing the rules and watering down the superior demands that Switzerland wants to enforce connected UBS. UBS shares reached a 17-year precocious aft the news.

  RH (RH) banal jumped 4% during premarket trading connected Friday aft reporting 3rd 4th fiscal net and gathering Wall Street estimates for revenue. The location furnishings institution has besides benefited from a roar successful the US rental market.

  Warner Bros Discovery (WBD) banal roseate 1% earlier the bell. The amusement institution is presently astatine the halfway of a conflict betwixt some Netflix (NFLX) and Paramount Skydance (PSKY), who are bidding to instrumentality implicit the company.

• Lululemon banal jumps arsenic turnaround propulsion bears fruit, CEO plans to measurement down

  Lululemon (LULU) banal popped astir 10% successful premarket trading aft the Canada-based apparel retailer posted an net bushed and upbeat full-year nett forecast.

  "As we participate the vacation season, we are encouraged by our aboriginal performance," Lululemon CEO Calvin McDonald said, noting that the institution continues to marque advancement successful its turnaround program and expects to spot much results successful 2026.

  McDonald plans to measurement down from his relation and from the company’s committee connected Jan. 31, Lululemon besides announced connected Thursday. He volition proceed arsenic a elder advisor done March 31, with CFO Meghan Frank and its CCO André Maestrini to service arsenic interim co-CEOs.

  In the company's 3rd quarter, diluted profits roseate to $2.59 per share, exceeding expectations for adjusted net of $2.22 per share, according to S&P Global Market Intelligence.

  Revenue accrued 7% twelvemonth implicit twelvemonth to $2.6 billion, topping estimates of $2.47 billion. Higher gross was driven by planetary sales, which climbed 18% connected a comparable basis. Same-store income successful the Americas declined 5%.

  NasdaqGS - Nasdaq Real Time Price • USD

  As of 11:30:07 AM EST. Market Open.

  For the 4th quarter, Lululemon guided for nett gross successful the scope of $3.5 cardinal to $3.58 billion, successful enactment with the Wall Street statement estimation of $3.56 billion.

  For the afloat year, the institution forecast nett gross to beryllium betwixt $10.96 cardinal and $11 billion, representing 4% growth. The Street is expecting full-year gross of $10.96 billion.

  Lululemon's anticipated full-year net besides came successful up of expectations, with diluted net per stock expected successful a scope of $12.92 to $13.02 for the year. The Street guided for adjusted net of $12.86 per share.

• Broadcom slumps arsenic investors question sky-high contiguous returns from AI spend

  Bloomberg reports:

  NasdaqGS - Nasdaq Real Time Price • USD

  As of 11:30:07 AM EST. Market Open.

  Read much here.