Live Nasdaq Composite: Stocks Fall, Yields Rise as Risk-Averse Trade Resurfaces

U.S. stocks declined into the weekend, with technology leading a broad pullback as Treasury yields rose after the Trump-Xi summit. The S&P 500 fell 1%, the Nasdaq Composite dropped 1.4%, and the Dow declined 0.7%. Intel fell 4%, while AMD and Micron each dropped 3% and Nvidia slid 2%. Microsoft rose after hedge fund manager Bill Ackman hinted at a new position. Cerebras cooled 3% after a 68% first-day IPO pop. Treasury yields surged, with the 30-year rate pushing through 5.1% and inflation pressures tied to rising oil costs from the Middle East conflict. Market updates included Citi raising its Nebius price target and Starbucks announcing a staff reduction of 300 jobs.

"U.S. stocks stumbled into the weekend Friday, with technology bearing the brunt of a broad pullback as Treasury yields pushed higher at the conclusion of the Trump-Xi summit. The S&P 500 pulled back 1%, the Nasdaq Composite gave up 1.4%, and the Dow dropped 336 points, or 0.7%. Inside tech, Intel took the hardest hit at 4%, with AMD and Micron each surrendering 3%. Nvidia wasn't spared either, sliding 2%."

"Treasury yields surged Friday, adding another layer of pressure. The 30-year rate punched through 5.1%, putting it on track for its highest reading since 2023. A string of inflation data released throughout the week painted a clear picture: rising oil costs stemming from the ongoing Middle East conflict are reigniting price pressures, and with rates climbing, high-growth stocks find themselves in the crosshairs."

"One tech gainer on the day is Microsoft after hedge fund manager Bill Ackman hinted at a new position in the stock. Also, Cerebras, fresh off a jaw-dropping 68% first-day pop on the Nasdaq Thursday, cooled 3% as the IPO euphoria settled. "The group has witnessed an extremely unsustainable move in recent weeks and remains vulnerable to profit taking regardless of the headlines," wrote Adam Crisafulli of Vital Knowledge."

"Citi has taken a decidedly bullish stance on Nebius, lifting its price target to $287 from $169, the highest target on Wall Street, while keeping its Buy rating intact. The stock is up 0.30% today. Starbucks announced a restructuring in which it is cutting its staff by 300 job"

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