Stocks Mixed as Nasdaq Slips, Russell 2000 Gains; Shake Shack Surges on Earnings Beat
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The Nasdaq traded slightly lower while the Russell 2000 index of small caps led gains. Coinbase surged over 5% early.
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Super Micro Computer rallied over 8% to an intraday high after a buy rating and $1,040 price target from Bank of America. Shares extended far from any buy point.
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The Dow Jones rose 0.6%, led by stocks like Goldman Sachs, UnitedHealth, and Honeywell. AppLovin, JFrog, and Informatica jumped on earnings while Fastly plunged.
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Cooling long-term rates helped small caps and transports outperform. Weekly jobless claims fell slightly.
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Shake Shack soared 19% on strong earnings results. Crude oil and natural gas futures rebounded while gold was muted.