Good afternoon - early one here as we head out for the long weekend for some time away from the screens (prices around ~3pm est.). Slow day as QQQs finished near flat. IWM +50bps outperformed again; BTC +2.5%; Yields flattish; while China +1.2%. We’ll make this a quick one so everyone can enjoy their long weekend…have a good one!
In internet, RDFN +9% and OPEN +3% rallied while Z -2% lagged behind. Unloved names rallied with MTCH +1.6% helped by some positive comments on Hinge; CHWY +1.7%; ETSY +1%. Large cap led by AMZN +45bps as investors digested their Anthropic investment which helps them catch up to MSFT/OpenAI partnership and some news items around continued belt-tightening on costs. GOOGL +20bps. NFLX -1% — all I heard was large sell order going through today. META -1% was also weak. W +1% on the back of RH’s positive results. SPOT +1.8% as they inked a new agreement with Universal. China names were strong and China charts continue to look better: BABA +1%; JD +1%; BIDU +…
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