Stock Indexes Turn Lower After Trump Threatens ‘Massive’ Tariffs on China; Nasdaq Hits New Record Before Retreating; Gold Recrosses $4,000

Here’s Why Applied Digital Stock Is Soaring Friday

27 minutes ago

Shares of Applied Digital (APLD) soared 20% Friday after the artificial intelligence (AI) data center service provider posted better-than-expected sales on rising demand.

Applied Digital reported its first-quarter fiscal 2026 revenue skyrocketed 84% to $64.2 million, $9.6 million more than analysts surveyed by Visible Alpha were looking for. Adjusted loss of $0.03 per share was in line with estimates.

Applied Digital also finalized a new lease contract with CoreWeave (CRWV) to provide the cloud computing company with an additional 150 megawatts at its Polaris Forge 1 campus in Ellendale, North Dakota. With the new CoreWeave deal, Applied Digital has about $11 billion in prospective lease revenue over a 15-year period, it said. It also sees the potential for Polaris Forge 1 to continue expanding, with available power expected to exceed 1 gigawatt between 2028 and 2030.

“With hyperscalers expected to invest approximately $350 billion into AI deployment this year, we believe we are in a prime position to serve as the modern-day picks and shovels of the intelligence era,” CEO Wes Cummins said.

Applied Digital shares have nearly quintupled year-to-date. 

–Bill McColl

Polymarket Wagerers See Little Likelihood of Imminent End to Government Shutdown

2 hr 8 min ago

The U.S. government shutdown is highly unlikely to end in the next five days, according to Polymarket event-contract wagerers.

Per Polymarket, there is just a 6% chance that Congress will pass a funding bill by Oct. 15.

Things improved substantially from there, however, with a 65% likelihood of a funding bill passing by Oct. 31, and a 96% chance by Nov. 30.

Stellantis Stock Rises on Q3 Shipment Estimates

3 hr 26 min ago

Stellantis released preliminary third-quarter shipment figures Friday. Investors evidently liked them.

Shares of Stellantis (STLA) pared earlier gains but advanced 1% soon before the opening bell after the Chrysler and Jeep parent estimated 1.3 million units were shipped in Q3, up 13% year-over-year.

The company said the estimated gains in shipments—”the volume of vehicles delivered to dealers, distributors, or directly from the Company to retail and fleet customers, which drives revenue recognition”—was mostly driven by a 35% jump in North America.

The “significant improvement” in North America “primarily reflects the benefits of normalized inventory dynamics, in comparison to the prior year’s inventory reduction initiative, which temporarily reduced production,” Stellantis added.

Stellantis shares entered Friday down about 19% this year.

Stock Futures Point Higher to End Week

4 hr 38 min ago

Futures tied to the Dow Jones Industrial Average rose than 0.1%.

S&P 500 futures were up 0.1% as well.

Nasdaq 100 futures also were up 0.1%.