markets

Matt Phillips3/31/25

Palantir fails to hold the line as momentum cracks

Last year’s retail trading fave Palantir tumbled alongside popular tech behemoths like Tesla and Nvidia in early trading on Monday.

The defense, data analytics, and enterprise AI software firm is on track for its fifth consecutive down day, which has lopped 15% of the shares and sunk the share price once again below its 50-day moving average, a technical level often seen as providing a modest support for share prices that it had recently cleared.

With the first hour of trading in the bag, Palantir is off its worst levels. (It was down as much as 8%.)

Palantir isn’t the only tech stock taking a beating on Monday, amid concerns about the Trump administration’s continued tariff threats as well as their effect on the economy, inflation, investor confidence, and what the Fed will do with interest rates this year.

But Palantir also has specific exposure to the Trump administration’s push to sharply reduce government spending, given that the US government is its top customer.

In a note published last week, Morgan Stanley software analysts put the company on a list of stocks “at higher risk for downward estimate revisions” because of their reliance on federal government spending.

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Two screen display gameplay in Grand Theft Auto

Take-Two reaffirms November release for “GTA 6,” reports better-than-expected Q4 net bookings

Take-Two reported its highly anticipated fourth-quarter earnings after the bell on Thursday.

Max Knoblauch56s

Tasha Matsumoto

Stocks gain and oil dips as traders evaluate US-Iran deal progress

Stocks managed to eke out a gain while the price of oil dipped as traders evaluated the progress on a deal with Iran.

Caricature illustration depicting three French bulls in a field. 'Le Rire' magazine 1902.

markets

Saleah Blancaflor2h

US gas prices rise again, sitting at their highest levels in four years ahead of Memorial Day weekend

Just days away from Memorial Day weekend, the national average of US gas prices rose from a week earlier and sat at the highest they've been in four years.

The price is currently $4.56 a gallon, up 3 cents over last week, and $1.38 higher than this time last year, according to AAA. Today's prices are right around what customers were paying four years ago, when the price on Memorial Day was $4.61. Gas prices experienced a short-lived dip earlier this month before rising again.

Gasoline is in high demand ahead of Memorial Day weekend and the Strait of Hormuz remains closed because of the war in Iran, leaving prices elevated as more drivers hit the road. GasBuddy's Patrick De Haan predicts that gas prices could soon hit $4.80 a galloon soon amid the Strait closure.

Oil prices ticked up slightly on Thursday, with WTI sitting around $100 a barrel, after plunging on Wednesday.

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(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

Memorial Day Weekend Gas Prices Reach Four-Year Highs

AAA Fuel Prices

Gasoline is in high demand ahead of Memorial Day weekend and the Strait of Hormuz remains closed because of the war in Iran, leaving prices elevated as more drivers hit the road. GasBuddy's Patrick De Haan predicts that gas prices could soon hit $4.80 a galloon soon amid the Strait closure.

Oil prices ticked up slightly on Thursday, with WTI sitting around $100 a barrel, after plunging on Wednesday.

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(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

What Wall Street’s saying about Nvidia’s Q1 results

A makeover beautifies the growth outlook; so does the CPU opportunity.

Jensen Huang in front of Vera Rubin at CES 2026

markets

SoftBank rallies on OpenAI and SB Energy IPO plans; its Japanese-traded stock notches best day since 2000

SoftBank shares skyrocketed in Tokyo trading, notching their biggest daily gain since 2000, boosted by news about planned IPOs at OpenAI, in which SoftBank has a sizable stake, and SoftBank’s own SB Energy unit. ADRs of SoftBank traded in the US rallied, too.

OpenAI is accelerating the timeline to its public debut, preparing to confidentially file its IPO prospectus with regulators as early as Friday, according to The Wall Street Journal. That could set the stage for a highly anticipated public listing as early as September.

SoftBank has systematically expanded its financial exposure to OpenAI, securing a highly valuable stake in the company. As of the fiscal year-end, SoftBank’s cumulative investment in OpenAI totaled $34.6 billion, with a fair value of $79.6 billion, and cumulative investment gains totaled $45 billion, according to a SoftBank filing.

For SoftBank, a successful public debut is critical to demonstrating that OpenAI can protect its market position amid intense industry pressure. Investors have grown increasingly anxious that OpenAI is losing ground to competitors like Anthropic, which is currently in talks for a funding round that could push its own valuation past that of OpenAI.

Adding to the upward momentum, SB Energy, the digital infrastructure and clean energy development firm co-owned by SoftBank and Ares Management, confirmed its own confidential draft registration filing for a major US public listing.

This multipronged IPO pipeline has boosted investors’ confidence in billionaire founder Masayoshi Son’s high-conviction AI thesis, showcasing a road map for SoftBank to transition its paper gains into potential liquidity. SoftBank’s stock is up 37% so far this year.

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