More stocks are joining the gangbusters rally. That’s good news for investors
CNN
The dwindling ranks of the Magnificent Seven are finally getting reinforcements. The S&P 500, Dow Jones and Nasdaq all notched record highs Wednesday and Thursday.
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. The dwindling ranks of the Magnificent Seven are finally getting reinforcements. The S&P 500, Dow Jones Industrial Average and Nasdaq Composite indexes notched record highs on Wednesday and Thursday after the Federal Reserve reiterated its forecast for three quarter-point rate cuts in 2024. Investors had worried that the central bank would adjust its expectations to fewer than three cuts following a slate of hot inflation data in recent months. But more stocks than just Big Tech have paved the way higher. The S&P 600 index, which tracks American small-cap stocks, just turned positive for the year. That’s good news for Wall Street, because smaller companies generate most of their revenue from US customers, making them bellwethers of the US economy. Small caps are often active in sectors like financials and industrials that tend to rise and fall with wider economic activity. “When you see small-cap industrials leading, that’s usually a sign that the market is saying things are on pretty firm footing here,” said Ryan Detrick, chief market strategist at Carson Group. Their participation also shows that the market’s surge is extending beyond tech giants. That’s a welcome sign for investors, since a broader rally begets a healthier rally. When the market’s gains don’t depend on just a handful of names, they’re less vulnerable to pullbacks.
The United States is considering whether to strike Iran as turmoil intensifies for the country’s authoritarian regime.
The US has completed its first sale of Venezuelan oil since the US attached Venezuela and captured its president, Nicolás Maduro, earlier this month, according to an administration official.
President Donald Trump enacted a new 25% tariff on “certain advanced computing chips” on Wednesday, according to a White House fact sheet. That includes Nvidia’s H200 chip and AMD’s MI325X. However, chips imported to support building up the US technological supply chain would be exempt.
Verizon said some of its wireless services were down Wednesday, leaving many customers without access to voice and data services.
YouTube will now let parents limit the amount of time their teens can spend scrolling through its short-form video feature, Shorts, or block them all together.
Last month, Washington Post reporter Hannah Natanson penned a first-person piece about her long year as “the federal government whisperer,” receiving tips from hundreds of federal workers. On Wednesday, the FBI searched her home, a source familiar with the situation told CNN.
Price hikes picked up speed for US-based businesses toward the end of last year, a potential signal that inflation has yet to peak and prices could soon rise faster for consumers.
Trump is threatening to take “strong action” against Iran just after capturing the leader of Venezuela. His administration is criminally investigating the chair of the Federal Reserve and is taking a scorched-earth approach on affordability by threatening key profit drivers for banks and institutional investors.
Perhaps no data point better encapsulates the American economy right now than this nugget from Delta’s quarterly earnings:
China recorded the world’s biggest ever trade surplus in 2025, as well as a 20% jump from 2024, capping off a year in which the world’s largest manufacturer defied US trade pressure by ramping up exports to other global markets.
Saks Global, the parent company of luxury retailer Saks Fifth Avenue, filed for bankruptcy protection late Tuesday, according to court documents filed in US Bankruptcy Court in Houston, Texas.
China on Wednesday reported a strong export run in 2025 with a record surplus of nearly $1.2 trillion, as producers braced for three more years of a Trump administration set on slowing the production powerhouse by shifting US orders to other markets.
Microsoft says it will ask to pay higher electricity bills in areas where it’s building data centers, in an effort to prevent electricity prices for local residents from rising in those areas. The move is part of a broader plan to address rising prices and other concerns sparked by the tech industry’s massive buildout of artificial intelligence infrastructure across the United States.