US stocks suffer worst weekly loss in over a year

The S&P 500 closed down 1.7% on Friday for its first four-day losing streak since April. On the week, the benchmark index gave back 4.3%, its worst showing since Silicon Valley Bank imploded in March 2023. The Nasdaq 100 lost 2.7%, the second time this week that the tech-heavy index posted a loss greater than 2%, for its biggest weekly loss since November 2022. The Russell 2000 lost 1.9%.

The much-anticipated jobs report showed lower than expected US job growth in August, reviving worries about a cooling economy and enhancing expectations for a deeper easing cycle from the Federal Reserve.

All 11 S&P 500 sector ETFs slid, with the technology sector led the losses, down 2.6%. Major tech stocks were the worst S&P 500 performers on Friday: Broadcom dropped 10.4% following disappointing outlook after releasing earnings, while Tesla was down 8.5% and Super Micro Computer retreated 6.8%.

The policy-sensitive two-year Treasury yield declined 9 basis points and settled at 3.66%, and 10-year Treasury yields dipped 1 basis points to 3.72%, both hitting a new 12-month low during intraday trading. But for the first time since July 1, 2022, the so-called yield curve, the spread between yields on the two Treasury notes, ended the day in a positively sloped or un-inverted shape.

Oil also dropped to the lowest point in a year, as the US benchmark WTI fell more than 7% this week to below $70. It was the worst week for crude since October, even as OPEC+ members delayed a planned production increase.

More Markets

See all Markets

markets

Max Knoblauch21s

Paramount beats Q1 earnings estimates, maintains full-year revenue guidance

Paramount delivered its first-quarter results after the bell on Monday. Shares of the entertainment company rose about 5% in after hours trading.

For Q1, Paramount reported:

Adjusted earnings of $0.23 per share, compared to Wall Street estimates of $0.15 per share from analysts polled by FactSet.
Revenue of $7.35 billion, compared to a $7.28 billion estimate.
79.6 million Paramount+ subscribers, compared to the 79.9 million consensus.

Looking ahead, the company said it expects Q2 revenue of between $6.75 billion and $7.95 billion, compared with the $7.07 billion Wall Street consensus. The company maintained its full-year revenue guidance of $30 billion.

Q1 marks the company’s first earnings report since winning the bidding war for Warner Bros. Discovery in late February. As of Monday afternoon Eastern time, prediction markets speculating on which company will ultimately come out on top of the bidding war have Paramount at a 77% chance, compared to 17% for “none.”

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

The megadeal still faces some hurdles, including significant opposition from notable entertainment workers and potential antitrust challenges on the federal or state level. Last week, a group of subscribers sued to block the deal on antitrust grounds.

Tasha Matsumoto

Stocks fall from records amid Iran war escalations

Energy was the only sector to close higher amid rising oil prices.

Alaskan Brown Bears (Ursus horribilis) fighting in a river

markets

Max Knoblauch4h

Take-Two climbs on BofA note that “GTA 6” will likely come out with an $80 price tag

“Grand Theft Auto VI,” Take-Two’s hotly anticipated sixth installment in its “Grand Theft Auto” franchise, will likely release at an $80 price point, according to a new Bank of America note.

After attending the Entertainment Software Association’s iicon event last month, BofA wrote, “What we heard leads us to believe GTA 6 will cost $80, rather than our previously assumed $70 per unit.”

Shares of Take-Two are up about 4% on Monday, good enough for one of its biggest trading days of 2026. The stock is still down about 12% year to date.

An $80 price for the year’s biggest game would further usher in the higher industry price ceiling, which climbed to $70 around 2020 following roughly 15 years at the $60 level. Nintendo’s “Mario Kart World” was the first to test the $80 price tag last year, though its effectiveness as a trial might be limited since the game was bundled with the Switch 2 console.

Given the demand for “GTA 6,” a follow-up 13 years in the making, industry rumors have speculated that its launch price could be as high as $100.

Investors will be closely watching Take-Two’s earnings call later this month for any official “GTA” pricing information and confirmation of its November release date.

markets

Michael Burry says he’s selling “all or some” of his GameStop position after its bid for eBay

GameStop shareholder Michael Burry has some thoughts about the retailer’s offer to buy eBay for $55.5 billion.

But the tweet and opening line of the latest article from the hedge fund manager of “The Big Short” fame turned Substacker may muddle his overall message:

*BURRY SAYS GAMESTOP BID FOR EBAY ‘MAKES PERFECT SENSE’

From our perch, Burry’s headlined comment that the bid “makes perfect sense” seems to be imbued with a hefty dose of sarcasm, and comes in a piece that’s full of skepticism about how the financials would work. The more important thing to highlight is that he’s decided to “certainly sell to an extent, perhaps all or some” of his GameStop position this week.

Consider the context of the “perfect sense” remark:

“Still, at the end of the day, this play for eBay makes perfect sense.

Wall Street does indeed mistake debt for creativity, and does so constantly.

I of all people should have known.

Charlie Munger once said, ‘When a manager with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact’.”

Burry appears to be saying this “makes perfect sense” because folks in financial circles will think it is smart, not because it actually is.

To be fair, Burry also wrote, “I do support the effort,” but also offers a lot of negative commentary about the bid.

For instance:

“Neither does this seem revolutionary or ground-breaking in nature. More dilution, or more debt — really, the capital markets strategy here could not be more pedestrian.”

“If Ryan really wanted to compete with Amazon, he would have acquired Wayfair (70% of its own last mile deliveries and warehouses all over) along with a cash flow machine and a bunch of float. I heard someone was peddling such a deal back in early February.”

“If GameStop wants to do it [editor’s note: dominate collectibles and used goods] with billions of interest expense and all manner of covenants restricting its movements, it will not be breaking new ground. It will be trotting in well-worn ruts on the road to capitalist Hell.

No new ground has been broken yet. To truly break new ground, Ryan has to execute and succeed in this transformation from this starting position, saddled with debt.”

Burry would have preferred if GameStop elected to buy a position in or bid for a company that he highlighted as a more appropriate target, including the aforementioned Wayfair.

Berkshire Hathaway is the ultimate anti-AI stock

Berkshire is a rare breed in today’s market: a megacap US stock that doesn’t really have a big footprint in AI.

Allen & Company Annual Conference Draws Media And Tech Leaders To Sun Valley

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, Robinhood Derivatives, LLC, or Robinhood Money, LLC. Futures and event contracts are offered through Robinhood Derivatives, LLC.

©2026 Sherwood Media, LLC