Crypto Stocks End Day Higher; Amazon Drops

Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec. Robinhood (HOOD) and Strategy (MSTR) shares rose as the price of cryptocurrencies broadly rebounded. Robinhood generates a significant portion of its revenue from crypto trading. Bitcoin surged the most in almost three years to recoup almost all of the losses registered during Thursday’s crypto market meltdown that had dragged the token down more than 50% from its October peak. Under Armour (UA) shares ended the day higher after the athletic apparel and footwear company surprised investors with a quarter profit. Revenue were also slightly above the consensus estimate. Management boosted its adjusted EPS estimate.  Amazon (AMZN) ended the day lower. Shares posted at 12% weekly decline, the most since 2022, after the e-commerce and cloud-computing company’s much higher-than-expected $200 billion annual capital spending forecast underlined concerns on how much big tech companies are spending on AI-related investments and when they will pay off. Molina Healthcare (MOH) shares plunged after the health insurer forecast 2026 profit that was less than half of Wall Street’s expectations, on higher medical costs and insufficient government repayments. Homebuilders (S5HOME Index) declined Friday on the news Trump administration officials are exploring opening an antitrust investigation into US homebuilders as the White House sharpens its focus on tackling the country’s housing affordability crisis. See omnystudio.com/listener for privacy information.