Table of Contents

• US Markets

• Dell and Palantir

Top Stories Today

Economy & Finance

US Markets

The S&P 500 experienced a sharp decline, marking its most challenging week since March 2023, driven by a disappointing August jobs report and a widespread retreat from technology stocks. The index fell by 1.73%, closing at 5,408.42, while the Nasdaq Composite dropped 2.55%, ending at 16,690.83, which is over 10% below its peak. The Dow Jones Industrial Average also decreased by 410.34 points, or 1.01%, finishing at 40,345.41. This downturn reflects growing economic concerns, influencing investors to move away from growth-oriented tech giants like Amazon, Alphabet, and Meta, which saw significant losses. Additionally, the semiconductor sector was hit hard, with companies like Broadcom and Nvidia experiencing substantial declines. The broader market's sentiment was affected by the latest job growth figures, which came in below expectations, intensifying worries about the U.S. economic outlook and influencing expectations about the Federal Reserve's upcoming decisions on interest rates.

Technology

Dell and Palantir

Dell and Palantir experienced a significant surge in their share prices, each increasing by about 7% after the announcement that they would be added to the S&P 500 index. Dell, previously part of the S&P 500 from 1996 to 2013, is making a return after going public again in 2018. Meanwhile, Palantir, which went public in 2020, has shown profitability recently, with a noticeable increase in net income in the recent quarter. This inclusion in the index reflects the substantial market capitalizations of both companies, with Palantir valued over $67 billion and Dell over $72 billion. This change is expected to prompt fund managers who track the index to adjust their portfolios accordingly, which often leads to a rally in the shares of newly added companies.

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