Today At A Glance:

Stocks fell broadly, with losses led by big tech after several Wall Street bank CEOs warned investors to brace for a pullback amid stretched valuations. The Nasdaq dropped the most as chip and AI plays slid; Bitcoin also sank and the dollar firmed as traders pared near-term rate-cut hopes. Earnings didn’t help the mood: Palantir fell despite a strong outlook, while Uber slipped after results and guidance color. One bright spot: deal drama in obesity drugs sent Metsera sharply higher after Novo Nordisk sweetened its bid. Net: risk appetite cooled and the major averages finished near session lows.

Today’s Index Performance:

• Dow Jones Industrial Average — The Dow opened at 47,148.04 and closed at 47,085.24, a −0.5% move on the day.
• S&P 500 — The S&P 500 opened at 6,788.52 and closed at 6,771.55, a −1.2% decline.
• Nasdaq Composite — The Nasdaq opened at 23,458.21 and closed at 23,348.64, down −2.0%.

Gainers Of Note:

• Metsera (NASDAQ: MTSR) — Obesity-drug developer; spiked as Novo Nordisk raised its takeover proposal to a package worth up to $10B, escalating a bidding war with Pfizer.
• Sanmina (NASDAQ: SANM) — Electronics manufacturing services; jumped on a Q4 beat and strong outlook tied to AI and recent acquisitions.
• Fabrinet (NYSE: FN) — Optical/EMS for cloud & AI hardware; rose following an earnings beat and upbeat commentary that pushed shares toward record highs.

Losers Of Note:

• Sarepta Therapeutics (NASDAQ: SRPT) — Gene-therapy biotech; plunged ~35–40% after a confirmatory DMD study missed its main goal, deepening pipeline concerns.
• Palantir (NYSE: PLTR) — AI/data analytics; fell ~8% despite topping estimates, as management’s strong forecast met profit-taking after a big year-to-date run.
• Uber (NYSE: UBER) — Rides & delivery; slid post-earnings as investors focused on profitability cadence and guidance; options markets had priced a sizable move.

Active Traders Of Note:

• Spotify (NYSE: SPOT) — Streaming; heavy volume after a profit beat and above-consensus Q4 profit outlook on price hikes and user growth.
• AMD (NASDAQ: AMD) — Semiconductors; active ahead of data-center/AI results with the chip complex under pressure in today’s risk-off tape.
• Shopify (NYSE: SHOP) — E-commerce platforms; brisk trading around earnings as investors weighed strong GMV/revenue growth against stock-specific concerns.

Looking Forward:

After today’s valuation-jitters and tech-led slide, the tape likely trades headline-to-headline on AI spend, margins, and guidance from this week’s remaining reporters. A stronger dollar and softer crypto risk appetite are near-term headwinds for high-beta pockets; watch whether defensive leadership broadens if volatility persists. Any fresh developments in the Metsera bidding war or additional warnings from major banks could keep sector rotations choppy into the next session.

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