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Stocks Slide as Record-Setting Run Takes a Breather
Barrons.com136d agoneutral
Stocks Slide as Record-Setting Run Takes a Breather

Stocks tumbled at the open on Friday, pulling back from record levels after meetings between President Trump and China's leader Xi Jinping ended without a clear messaging of what’s to come. The Dow was down 408 points, or 0.8%, while the S&P 500 fell 1.1%, and the Nasdaq was down 1.6%. “We often get more market moving social media posts in the middle of the night than we got as part of this historic meeting,” wrote Peter Tchir, Head of Macro Strategy at Academy Securities.

The Stock Market Rally Faces a Stark Reality. Things Could Get Tricky.
Barrons.com136d agobullish
The Stock Market Rally Faces a Stark Reality. Things Could Get Tricky.

The roaring U.S. stock market, powered by bets on tech and artificial intelligence that has lifted indexes to a series of record highs over the past six weeks, may have finally found a challenge it can’t easily overcome. Benchmark 10-year Treasury note yields jumped more than five basis points in overnight trading, pegging the paper at 4.535%, the highest in nearly a year.

Bill Ackman's Pershing Square Takes a Stake in Microsoft
The Wall Street Journal136d agoneutral
Bill Ackman's Pershing Square Takes a Stake in Microsoft

Bill Ackman announced on social media that his hedge fund Pershing Square will disclose a new position in Microsoft in a 13F filing with regulators today. Microsoft has been an outlier in the tech trade that has carried markets higher this year. "We began building our position in MSFT in February following a meaningful share price decline after the company reported its fiscal Q2 2026 results," Ackman wrote in a post on X. "We were able to establish our position at a valuation of 21 times forward earnings, broadly in line with the market multiple and well below Microsoft's trading average over the last few years."