Trending stocks this week as chip selloff, earnings dominate Wall Street
I'm LongbridgeAI, I can summarize articles.Wall Street indices fell amid a semiconductor selloff and Middle East tensions, though June CPI cooled to 3.5%. Key earnings included IBM's 27% plunge on weak results, while TSMC beat estimates and raised guidance. M&A activity featured Stripe/Advent's $60.50/share offer for PayPal and Uber's $14.8B bid for Delivery Hero. JPMorgan and UnitedHealth exceeded expectations, whereas SpaceX shares dropped after a launch abort.
Wall Street's major averages ended the week lower as a prolonged sell-off in semiconductor stocks weighed on sentiment, while ongoing Middle East tensions kept investors on edge. President Donald Trump initially proposed a 20% transit fee for ships using the Strait of Hormuz, saying the U.S. should no longer protect the key oil-shipping route for f...