What are today's top business/market headlines?

Here's a roundup of today's top business and market headlines:

Markets Overview

Stocks closed out a volatile week on Friday. The Dow Jones Industrial Average fell 626.43 points, or 1.18%, to 52,241.55, the S&P 500 lost 33.51 points, or 0.43%, to 7,629.92 and the Nasdaq Composite lost 21.91 points, or 0.08%, to 25,986.95. For the week, the S&P 500 and the Nasdaq were on track for modest losses, while the blue-chip Dow remained slightly higher, supported by gains in defensive stocks.

AI Trade Jitters

The Nasdaq and S&P 500 are on track for modest weekly losses as lingering AI concerns send some investors into Treasuries. This has been a recurring theme — a flight to perceived safety amid fears of renewed Middle East violence drove tech down Thursday, and the 10-year Treasury note yield fell below 5%, a one-month low.

Corporate Earnings & Moves

•American Express announced workforce cuts — American Express is cutting 5% of its workforce to 'prepare for AI.'

•Procter & Gamble posted strong results, with Procter & Gamble earnings beating expectations as sales rise 4%, boosted by laundry and home products.

•Comcast also topped estimates, as Comcast beat on earnings as media revenue offset weakness in connectivity.

•Southwest Airlines cut guidance, trimming its 2026 profit forecast on higher fuel costs.

•Tesla shares fell after the company reported a slower deliveries growth outlook, even as its valuation was raised by analysts.

Oil, Bonds & Inflation Pressures

Energy markets have been a major swing factor this week. Global bond yields remain front and center for investors, as do oil prices, with Brent crude hitting the highest levels since May this week, and yields on France's 10-year bond hit a fresh 24-year high of 5.07% due to social unrest related to the high cost of living.

AI/Tech Sector Watch

•Moderna and Merck released melanoma vaccine trial data, with doctors calling it a major advancement despite a negative Wall Street reaction that sent Moderna shares lower.

•Meta is creating a new class of non-voting shares amid its AI growth, in a move that has struck a raw nerve on Wall Street as the company hunts for AI capital.

•AI lab Anthropic is reportedly preparing for an upcoming IPO.

•OpenAI said it plans to train AI models without internet access following recent cyber incidents, resuming frontier AI training after a security overhaul.

•Concerns are swirling around CoreWeave, with its debt tumbling again after a Korean neocloud IPO disappointed investors.

Bottom Line

Markets remain caught between enthusiasm over the AI buildout and growing anxiety over its financing costs, rising oil prices tied to Middle East tensions, and elevated bond yields — a combination that's kept volatility elevated heading into next week.

Citations (9)

1spokesman.comNews and mediaquality 0.84
Dow, S&P 500 fall, tech steadies to end rocky week
Source excerpt: “… The Fed is expected to keep interest rates steady when it gives its policy statement on Wednesday, but investors will be eager for ... # Dow, S&P 5...”
2spokesman.comNews and mediaquality 0.84
Dow, S&P 500 fall, tech steadies to end rocky week
Source excerpt: “For the ‌week, the S&P 500 and the Nasdaq were on track for modest losses, while the blue-chip Dow remained slightly higher, supported by gains in def...”
3schwab.comCompanies
Weekly Trader's Stock Market Outlook
Source excerpt: “While blockchain data can be helpful in determining which chains are capturing tokenization, tokenized ... # Weekly Trader's Outlook ## Volatile Week...”
4schwab.comCompanies
AI Pressure Persists, Oil Up as Price Data Looms
Source excerpt: “# AI Pressure Persists, Oil Up as Price Data Looms A flight to perceived safety amid fears of renewed Middle East violence drove tech down Thursday. ”
5schwab.comCompanies
AI Pressure Persists, Oil Up as Price Data Looms
Source excerpt: “The **10-year Treasury note** yield fell below 5%, a one-month low. ”
6cnbc.comNews and mediaquality 0.85
Business News
Source excerpt: “# Business News Why popular airplanes are getting scrapped years early Why popular airplanes are getting scrapped years early Leslie Josephs 11 min ...”
7cnbc.comNews and mediaquality 0.85
Business News
Source excerpt: “His own voters are wary of what comes with it ## More In Business News Procter & Gamble earnings beat as sales rise 4%, boosted by laundry and home p...”
8schwab.comCompanies
Weekly Trader's Stock Market Outlook
Source excerpt: “## The Week That Was Lastly, global bond yields remain front and center for investors, as do oil prices (Brent crude hit the highest levels since May ...”
9news.google.comNews and mediaquality 0.79
Google News - Business - Latest
Source excerpt: “# Business See more headlines & perspectives Moderna and Merck release melanoma vaccine trial data *chevron_right* WSJ More Moderna’s Cancer Vacci...”