News about PayPal

The Nasdaq fell 2.15% to 26,140 on Friday, its worst week since June, while the S&P 500 closed at 7,659 (down 1.09%) and the Dow at 52,002 (down 0.34%). Market commentary blamed rising energy prices, inflation concerns after hotter-than-expected CPI and PPI readings, and a rotation out of AI-related technology stocks. Iran's missile and drone strikes on tankers cut daily oil flows through the Strait of Hormuz from a normal 17.15 million barrels to 11.62 million this week, pushing Brent crude up 3.72% to $109.90 per barrel. The 30-year Treasury yield closed at 5.43% and the 10-year at 5.08%. Among the analyst actions, Morgan Stanley upgraded Boyd Gaming to Overweight and cut its target to $83 from $89, while Bank of America double-downgraded Ameriprise Financial to Underperform and lowered its target from $570 to $445.