treasurybuyback

According to CNBC, rising bond yields and oil prices pressured stocks this week, with the S&P 500 down roughly 1.43%, the Nasdaq Composite off 2.05% and the Dow Jones Industrial Average lower by 0.85%. The Treasury Department said Wednesday morning it would more than double the size of its buybacks of longer-dated government debt, a move that briefly pushed yields lower and lifted stocks before yields climbed again later in the week. Pennsylvania Gov. Josh Shapiro also signed an executive order Tuesday imposing tougher standards on data center developments in his state, adding to volatility in the AI trade.
Broadcom fell 4% Wednesday after Marvell Technology announced an expansive partnership with Alphabet's Google, and Broadcom later rose Friday even as it remained on track for a roughly 6.2% weekly decline. Bloomberg also reported Friday that Broadcom is in talks to raise more than $60 billion in debt for an AI financing deal involving a special-purpose vehicle that would buy Broadcom chips and lease them to a tenant such as Anthropic. In semiconductors, Cadence Design Systems was added to the Bullpen after CEO Anirudh Devgan appeared on "Mad Money," while Micron remained a high-conviction AI holding after CEO Sanjay Mehrotra discussed the company's Boise, Idaho fab site and long-term customer agreements.
Retail earnings were mixed. Home Depot reported earnings and revenue above estimates and same-store sales rose 1.7%, while TJX Companies beat on revenue, earnings and same-store sales but saw Marmaxx comparable sales rise 1% versus 3% expected. Walmart fell 9% after U.S. comparable sales and earnings guidance disappointed, while Ross Stores rallied after beating expectations and issuing strong guidance and BJ's Wholesale raised its full-year earnings outlook.