Dow Jones, S&P Grind Higher as Alphabet’s Slide Hammers Nasdaq

Wall Street’s old guard flexes muscle while tech stumbles—because nothing says ’stable growth’ like watching Google parent Alphabet single-handedly drag the Nasdaq into the red. Meanwhile, traditional indices edge upward on the kind of cautious optimism usually reserved for bond traders and dental procedures.

Key movers: Alphabet shares tank after another ’AI moonshot’ fails to land, while Dow components quietly print gains. Because in today’s market, real innovation is apparently measured by who can lose the least.

The takeaway? When the so-called ’innovators’ bleed, even dinosaurs can look like growth stocks. Just don’t ask your financial advisor to explain why.

Renewed trade talks boost markets

Despite tech stocks tumbling, markets were up on news of renewed trade talks between the U.S. and China. Notably, reports surfaced that U.S. officials were meeting with Chinese representatives to resolve the tariff crisis.

Talks are set to take place this week on the unprecedented 145% U.S. tariff rate on all Chinese goods, and the retaliatory 125% Chinese tariffs. While these talks are encouraging, it is likely that negotiations are going to last at least several months.

In the meantime, tariffs are causing noticeable damage to both the U.S. and the Chinese economy. Chinese factory activity was down significantly in April, while the U.S. Federal Reserve anticipates a slowdown in growth.

In light of trade uncertainty, crypto markets have shown continued resilience. Bitcoin (BTC) is up 1.88% to $96,586, while the overall crypto market cap rose 1.54%, edging closer to regaining the $3 trillion mark.