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Stock market today: S&P 500, Nasdaq snap 2-week win streak as AI jitters pressure tech
Amalya Dubrovsky, Karen Friar and Ines Ferré
Updated Fri, June 26, 2026 at 4:17 p.m. EDT1 min read
US stocks were volatile on Friday, with semiconductor stocks retreating after a report of a potential delay to OpenAI's ( OPAI.PVT) IPO added to the headwinds that have whipsawed markets this week.
The tech-heavy Nasdaq Composite ( ^IXIC) was down 0.2%, while the S&P 500 ( ^GSPC) fell slightly, with both indexes closing out the week with losses of more than 4% and nearly 2%, respectively.
The Dow Jones Industrial Average ( ^DJI), which includes fewer tech names, dropped below the flat line, but notched a weekly win of less than 1%.
^GSPC^IXIC ^DJI
Concerns are growing that the skyrocketing cost of memory and storage components could hit device makers, after Apple ( AAPL) raised prices of its MacBooks and iPads. Memory chipmaker Micron's ( MU) stellar earnings showed the squeeze is set to continue.
At the same time, a New York Times report that OpenAI is considering pushing back its mega-IPO until 2027 is also dragging on the appetite for tech.
The AI trade was already under pressure as bets grow on a Federal Reserve interest-rate hike this year. A hot May reading of the Fed's preferred inflation gauge, the Personal Consumption Expenditures index, kept that prospect alive.
Meanwhile, oil prices slumped as tanker traffic continued in the Strait of Hormuz despite an attack on a container ship. Brent crude futures ( BZ=F) sank to about $72 a barrel, while WTI crude ( CL=F) traded near $69. While the US and Iran have agreed on a 60-day ceasefire, reports of turmoil in the key waterway continue to emerge as Tehran eyes imposing charges for transit.
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Fri, June 26, 2026 at 4:04 PM EDT
Ines Ferré
S&P 500, Nasdaq notch weekly losses as semiconductor stocks retreat
US stocks closed out the week with losses on Friday, as semiconductor stocks fell amid concerns about escalating infrastructure costs.
The tech-heavy Nasdaq Composite ( ^IXIC) and the S&P 500 ( ^GSPC) closed out the week with losses of more than 4.5% and almost 2%, respectively.
The Dow Jones Industrial Average ( ^DJI) was little changed for the session, but gained more than 0.5% for the week.
Semiconductor stocks retreated following a volatile week Micron ( MU) which soared after its blowout results this week, declined more than 6% on Friday.
Worries over AI valuations rose on Friday after a New York Times report indicated that OpenAI ( OPAI.PVT) may delay its IPO until 2027 in hopes of making its public debut at a $1 trillion valuation.
- Fri, June 26, 2026 at 3:13 PM EDT
Grace O'Donnell
Netflix's stock bounce Friday offers respite after bruising month
Netflix stock jumped 4% on news that the streaming giant is partnering with Omnicom Media to deliver targeted ads using Netflix's viewing data.
The move on Friday comes at a low point for the stock. Netflix shares are down 42% from their all-time high in June 2025 amid continued selling pressure. On Thursday, the stock reached its lowest level since October 2024.
After Netflix walked away from its bid for Warner Bros. Discovery ( WBD) earlier this year, the stock has struggled to maintain momentum as Wall Street raises concerns about disruption from artificial intelligence and competition from short-form and user-generated content.
Fri, June 26, 2026 at 2:03 PM EDT
Ines Ferré
Corporate profits soar to the highest level since the 1950s, by one measure
Yahoo Finance's Ben Werschkul reports:
Read more here.
Fri, June 26, 2026 at 12:49 PM EDT
Ines Ferré
Trump threatens 100% tariff on any country that imposes a digital services tax on US companies
President Trump vowed to impose a 100% tariff on products from any country that imposes a digital services tax on American companies.
"Numerous European Countries have been discussing the imminent implementation of a Digital Services Tax on American Companies," Trump wrote on social media on Friday.
"Please let this statement serve to represent that any Country that imposes such a Tax will immediately be met with a 100% TARIFF on any and all Goods sent to the United States of America," he wrote.
Trump said the tariff would supersede trade deals made with the country.
Fri, June 26, 2026 at 11:57 AM EDT
Ines Ferré
Microsoft shares rebounds 4% as investor Michael Burry goes long on software giant
Microsoft shares ( MSFT) stock rebounded 4% on Friday after falling to its lowest level in nearly three years. The stock has faced significant pressure amid concerns over heavy AI-related spending and rising memory costs.
Meanwhile, 'Big Short' investor Michael Burry revealed on Thursday that he went long Microsoft via call options with a strike price in the low $700s expiring in December 2028.
Year-to-date, the stock is down roughly 23%.
Other 'Mag 7' stocks attempted a rebound on Friday after falling in the prior session, including Amazon ( AMZN) and Apple ( AAPL).
- Fri, June 26, 2026 at 10:54 AM EDT
Grace O'Donnell
Consumer sentiment improves in June, but cost-of-living concerns abound
Consumer sentiment improved in June, according to the University of Michigan, as falling gas prices alleviated some of Americans' concerns about inflation in the year ahead.
UMich's final reading for June consumer sentiment came in at 49.5, an improvement from the record-low reading of 44.8 in May. Despite the increase month over month, consumer sentiment is still 18.5% lower than it was one year ago and 13% below its February reading before the start of the war in Iran.
"Expected business conditions over the next five years surged 16% as consumers' worries over long-term consequences of the Iran conflict appear to be easing," the survey's director, Joanne Hsu, said. "The cost of living remains at the forefront of consumers' minds; for the third straight month, over half of consumers spontaneously mentioned that high prices are weighing down their personal finances."
Year-ahead inflation expectations eased to 4.6% in June from 4.8% in May. Inflation expectations remain higher than where they were prior to the start of the war (3.4% in February).
- Fri, June 26, 2026 at 10:40 AM EDT
Grace O'Donnell
Stocks recover as investors rotate out of tech and into healthcare
Stocks bounced back from their lows at the start of the trading session, pushing the S&P 500 ( ^GSPC) and Dow Jones Industrial Average ( ^DJI) into positive territory. The Nasdaq Composite ( ^IXIC), which fell by over 1% at the open, was roughly flat by 10:30 a.m. ET.
The tech sector continued to lag, driven by a decline in semiconductor names. A report that OpenAI may delay its IPO date weighed on sentiment, and investors taking profits before the end of the quarter next Tuesday may also be fueling the rotation out of tech.
"Magnificent Seven" stocks were mixed, though Microsoft ( MSFT), which has been beaten down this year, gained over 4%.
Healthcare benefited from the rotation, with shares of Eli Lilly ( LLY) up over 6% and Moderna ( MRNA) climbing 11%.
S&P 500 biggest gainers: Moderna, ServiceNow ( NOW), Incyte ( INCY), Eli Lilly, Dollar Tree ( DLTR)
S&P 500 biggest losers: Monolithic Power ( MPWR), Western Digital ( WDC), Lumentum ( LITE), Teradyne ( TER), Coherent ( COHR)
- Fri, June 26, 2026 at 10:15 AM EDT
Grace O'Donnell
Oil prices fall as traffic picks up in the Strait of Hormuz, despite recent Iranian attack
Oil prices dropped to pre-war levels on Friday as more ships began crossing the Strait of Hormuz, even as the latest attack on a vessel in the strait on Thursday raised fresh doubts about the 60-day ceasefire agreement between the US and Iran.
As Yahoo Finance's Ines Ferré reports, shipping through the strategically important Strait of Hormuz reached its highest level since the Iran war broke out in late February, easing worries about oil supply.
Brent crude oil futures ( BZ=F) fell 3.3% to just below $73 per barrel, while West Texas Intermediate crude futures ( CL=F) dropped below $70 per barrel. At their lows, both benchmarks show the oil market has made a full round trip since the start of the war, after peaking above $115 per barrel in April.
Still, experts warn that disruptions from the war could persist for months to come as several players vie for control and leverage over the strait.
Tehran reasserted its claim to control the critical waterway on Thursday, with the Islamic Revolutionary Guard Corps attacking a cargo ship in the strait after warning not to use unsanctioned routes.
As part of the ceasefire agreement, Iran is required to remove military obstacles to traffic in the Strait of Hormuz and work with Oman and other Gulf states on the future administration of the passage.
- Fri, June 26, 2026 at 9:38 AM EDT
Grace O'Donnell
Stocks fall at the open, dragged down by tech
The tech sector dragged on US stocks on Friday, putting the Nasdaq Composite ( ^IXIC) on track for a weekly decline of over 5%.
The Dow Jones Industrial Average ( ^DJI) dropped 0.3% at the open, while the S&P 500 ( ^GSPC) fell 0.5%. The tech-heavy Nasdaq Composite ( ^IXIC) led losses with a decline of 1.3%.
Semiconductor names were particularly hard-hit after Apple ( AAPL) and Microsoft ( MSFT) raised their prices on some products due to supply chain snags for memory components. Micron ( MU) stock, which soared on Thursday following its earnings report, sank 5% on Friday morning.
Meanwhile, uncertainty over the US-Iran truce also continues to weigh on sentiment. Oil prices continued to retreat on Friday, but an Iranian attack on a cargo ship in the Strait of Hormuz added fresh pressure to the fragile ceasefire.
- Fri, June 26, 2026 at 8:30 AM EDT
Karen Friar
The AI boom now has a price tag — and Micron just sent the bill
Micron's blowout earnings did not just revive the AI trade. They showed how expensive it is becoming.
Yahoo Finance's Jared Blikre writes:
Read more here in today's Chart of the Day.
- Fri, June 26, 2026 at 8:15 AM EDT
Grace O'Donnell
Onsemi acquires Synaptics for $7 billion. The stock is tumbling.
Onsemi ( ON) stock dived 13% after the chipmaker announced plans to buy Synaptics for $7 billion in an all-stock transaction. The deal is aimed at furthering Onsemi's push into physical AI using Synaptics connected-computing platform and R&D in robotics.
Onsemi said the acquisition increases its total addressable market by $30 billion to $243 billion by 2030.
"As artificial intelligence moves beyond the cloud and into the physical world, including automotive and industrial, the next phase of innovation will depend on systems that can sense, decide, act and adapt in real time," onsemi CEO Hassane El-Khoury said. "The addition of Synaptics helps position onsemi at the intersection of these four pillars, enabling us to capture a significantly larger AI opportunity that extends beyond AI data center and into edge applications."
- Fri, June 26, 2026 at 7:45 AM EDT
Karen Friar
Delivery companies set to hand $1 billion in tariff refunds to customers
Shipping companies are beginning to pass along over $1 billion in tariff refunds to customers. That's just phase 1, writes Yahoo Finance's Ben Werschkul .
- Fri, June 26, 2026 at 6:58 AM EDT
Karen Friar
SpaceX stock volatility could get a boost in Russell rebalancing
Even by SpaceX ( SPCX) standards, Friday is shaping up as an eventful trading session.
That's as investment funds tracking Russell indexes are preparing to add billions of dollars' worth of Elon Musk's internet and rocket company to their holdings.
Reuters reports:
- Fri, June 26, 2026 at 12:53 AM EDT
Rian Howlett
Asian shares slip with an Apple price hike dragging against an AI uplift
Reuters reports:
- Fri, June 26, 2026 at 12:08 AM EDT
Rian Howlett
SoftBank shares drop as OpenAI push IPO date
Bloomberg reports:
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