Tech Stocks Fall, Led by Tesla, and the Market Slips From All-Time High
Megacap companies including Tesla and Nvidia drove the tech-heavy Nasdaq Composite lower, with Tesla dropping more than 5% after the feud between Elon Musk and President Trump spilled back into public view.
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Yahoo
30 minutes ago
- Yahoo
Asian stocks waver, dollar frail as Trump's tariffs, US rate path weighs
By Ankur Banerjee SINGAPORE (Reuters) -Asian stocks slipped on Wednesday and the dollar languished near 3-1/2-year lows as investors weighed the prospect of U.S. interest rate cuts and the scramble for trade deals ahead of President Donald Trump's July 9 deadline for tariffs. Trump said he was not considering extending the July 9 deadline for countries to negotiate trade deals with the United States, and cast doubts again that an agreement could be reached with Japan, although he expects a deal with India. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.23% in early trading, inching away from the November 2021 top it touched last week. Japan's Nikkei fell 0.78%, dragged by tech stocks. Tech-heavy Taiwan stocks and South Korea's Kospi Index also fell after U.S. tech firms were hit hard following a strong rally in June. Data on Tuesday showed the U.S labour market remained resilient with a rise in job openings for May, sharpening the focus on the payrolls report due on Thursday as investors try to gauge when the Federal Reserve is likely to cut rates next. Fed Chair Jerome Powell, under fire from Trump to cut rates immediately, reiterated that the U.S. central bank plans to "wait and learn more" about the impact of tariffs on inflation before lowering interest rates. Traders are pricing in 64 basis points of cuts this year from the Fed with the odds of a move in July at 21%. That maintained a bearish bias on the dollar. The euro last bought $1.1793, just below the three-and-half-year high it touched on Tuesday. The yen was steady at 143.52 per dollar. [FRX/] "Any disappointing economic data can prompt further dovish repricing of FOMC rate cuts and another round of USD selling," said Carol Kong, a currency strategist at Commonwealth Bank of Australia. "The 'One Big Beautiful Bill' Act (OBBBA) and trade developments also have the potential to further weaken the USD if they undermine investor confidence about the U.S. economy." TRUMP'S BILL Investor focus over the last few days has pivoted to the progress of Trump's massive tax-and-spending bill, which is expected to add $3.3 trillion to the national debt. The legislation heads to the House of Representatives for possible final approval after U.S. Senate Republicans passed it by the narrowest of margins. The bill has stoked fiscal worries but the reaction was relatively muted after it passed the Senate. The benchmark U.S. 10-year yields were steady at 4.245% having touched a two-month low in the previous session. Aninda Mitra, head of Asia macro strategy at BNY Investment Institute, said the legislation "hard wires" a steady deterioration of the fiscal position and the debt trajectory of the U.S. government. "The near-term impact is mostly in the price, but the uncertainty factor could keep term premia elevated. We don't think long-term yields will fall back materially in the 6-12 month horizon." The fiscal worries, trade uncertainties and the U.S. rate path trajectory have all led investors to flee U.S. assets and look for alternatives. Investors worry that Trump's chaotic trade policies could hit U.S. economic growth. That has left the dollar unloved, with the greenback down over 10% for the year in its worst first half performance since the 1970s. The dollar index, which measures the U.S. currency against six rivals, was at 96.649, near its lowest since March 2022. In commodities, spot gold eased to $3,332.19 per ounce, after surging 1% in the previous session. The yellow metal is up 27% this year on safe-haven flows. [GOL/]
Yahoo
30 minutes ago
- Yahoo
Elon Musk Wants You To Stream Rocket Launches: Here's How To Get 'Breathtaking Live Views Of Earth'
NASA and streaming giant Netflix Inc (NASDAQ:NFLX) announced a new partnership Monday that could give viewers more options to see live rocket launches, including those from Elon Musk's SpaceX. What Happened: NASA announced Monday that its NASA+ live programming will be made available on Netflix, creating a bigger spotlight for the space sector. "The National Aeronautics and Space Act of 1958 calls on us to share our story of space exploration with the broadest possible audience," NASA+ general manager Rebecca Sirmons said. Trending: GoSun's Breakthrough Rooftop EV Charger Already Has 2,000+ Units Reserved — Sirmons said NASA and Netflix are committed to a "Golden Age of Innovation and Expansion" that could inspire new generations. The new content will consist of streaming live rocket launches, astronaut spacewalks, "breathtaking live views of Earth" from the International Space Station and space mission coverage. Musk shared news on the partnership, retweeting both a NASA tweet and a Netflix tweet on the same topic. SpaceX remains one of the largest space companies and has completed the most rocket launches in 2025, making it the only U.S. company currently capable of transporting astronauts to and from the International Space It's Important: The partnership with Netflix could put NASA content in front of millions more people worldwide. A press release stated that Netflix has a global audience of over 700 million people. NASA hopes the partnership will help bring excitement to space exploration in the future. While Netflix users will have access to the new NASA programming, users outside the platform will also be able to view the content for free in other places. "Our NASA+ streams and live events will continue to be available on as well as our YouTube channel and other social platforms," NASA tweeted. With ambitious plans to send people to Mars in the future, Musk's SpaceX could become a key to space-related content used by NASA and Netflix. Read Next: Maximize saving for your retirement and cut down on taxes: Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation. These five entrepreneurs are worth $223 billion – they all believe in one platform that offers a 7-9% target yield with monthly dividends Image created using photos from Shutterstock. Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article Elon Musk Wants You To Stream Rocket Launches: Here's How To Get 'Breathtaking Live Views Of Earth' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Wall Street Journal
31 minutes ago
- Wall Street Journal
Unicorn Startup That Makes ‘Superhuman' Robots Plots Path to IPO
The robots are coming, but their arrival might be welcome if artificial-intelligence unicorn startup Dexterity has its way. California-based Dexterity programs what it describes as 'superhumanoids': large industrial robots built to do physically demanding and dangerous tasks.
