DOW Posts Strongest Week Since May… PLTR Shareholders Panic-Sell After “Revenue Illusion" Exposed

The S&P 500 and Nasdaq both decided to take a 0.2% dip today, probably to catch their breath after a wild week of ups and downs. Meanwhile, the Dow Jones barely managed to stay in the green, but hey, a win's a win, right? Before we get to the weekend, let’s see what other juicy stock news you missed…

Today’s post market we’ll cover Nvidia stumbling for the second day in a row dropping along several other chip stocks…

The DOW’s best weekly performance since May…

And Palantir taking a 6% hit after an analyst named after your favorite donut shop exposed the company’s revenue illusion. 

Here’s where today’s heatmap landed.

Let's talk tech – the once-unstoppable Nvidia stumbled for the second day in a row, dropping over 3%. Other chip stocks like Broadcom, Super Micro Computer, and Qualcomm followed Nvidia’s lead, slipping and sliding into the red.

Investors are now playing the waiting game with the Fed.

Former St. Louis Fed head honcho James Bullard hinted that we might see a rate cut in September if inflation keeps cooling off. That cool Consumer Price Index (CPI) reading last week? Yeah, that's what sparked this optimism. Everyone’s now eyeing the Fed's favorite inflation measure, the PCE index, coming out next Friday.

But the real kicker this week? Nvidia, the darling of the AI world, briefly crowned the most valuable company on Earth, is showing signs of slowing down. After hitting an all-time high on Thursday, Nvidia couldn’t keep the momentum and ended the week with a thud. Still, it’s up a jaw-dropping 155% this year, so no need to send a sympathy card just yet.

On the Dow front, Salesforce, Amgen, and Nike helped the index post its best weekly performance since May. UnitedHealth, on the other hand, had a rough week, sliding down nearly 3%.

As we head into next week, expect a bit of a summer lull with fewer earnings reports to pore over. But don’t get too comfortable – the real showstopper is the Biden-Trump showdown on CNN.

Biden’s bound to unleash a slew of gaffes that'll have you cringing and laughing in equal measure. Meanwhile, Trump will undoubtedly bring his own brand of fireworks. This debate promises to be a spectacle with tax policies, global trade, and the Fed’s next move all up for debate. And maybe just maybe, a dirty diaper!

Stock.News Spikers of the Day

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Palantir’s Price Plunge: Crespi Yells ‘SELL!’ and Wall Street Panics

(Source: Quickmeme)

Palantir (PLTR), the data-mining wunderkind, just took a nosedive after getting downgraded to "Sell" by the folks over at Monness Crespi Hardt. Their analysts woke up, took one look at Palantir’s stock, and decided it was way too pricey, slapping it with a $20 price target. Ouch.

In their words, the market is starting to "shun software stocks with excessive valuations." Basically, Palantir’s recent rally has given it a gluttonous valuation, and it’s time for a reality check. The downgrade didn’t just come out of nowhere; it follows a dismal earnings season for enterprise software that didn’t quite live up to the AI hype machine’s promises.

Analyst Brian White didn't mince words, calling out the “revenue illusion” from Generative AI that’s been floating around this year. In simpler terms, the earnings boost some software companies expected from AI has been more of a mirage than a moneymaker.

Palantir’s stock dropped about 6.7% today. And let’s not forget, this isn't just any tech company—it's a Peter Thiel enterprise, so it's always a bit of a political hot potato.

Normally, Wall Street is pretty bullish on these tech darlings, but having seven "Sell" ratings on one stock? That's rare air.

Despite the recent dip, Palantir's up a solid 43% this year. But with this downgrade, it looks like the market is starting to get jittery about those sky-high valuations.

So, while you’re cooling off from this week’s market antics, keep an eye on Palantir and how it navigates through this downgrade storm.

Stock.News does not have positions in companies mentioned.