Stock Market Today (LIVE): AWS Heat Wave Stalls Coinbase, FanDuel; MercadoLibre Trades Margins for Growth

📌 Top story -- scroll down for more updates

1:10 pm -- AMZN +0.8%

Amazon (AMZN +0.59%) Web Services is battling a "thermal issue" at a Northern Virginia data center that has crippled major trading and betting platforms. Starting Thursday night, the overheating in a primary US-East-1 availability zone triggered server impairments for Coinbase Global (COIN +1.41%) and Flutter Entertainment's (FLUT +0.88%) FanDuel. While Coinbase reported core services are resolving, FanDuel users faced extended lockouts, preventing crucial mid-game bet cash-outs. AWS, which controls a third of the cloud market, expects a full recovery to take several hours as technicians bring supplemental cooling capacity online to rescue the affected hardware.

1:05 pm -- PGNY +17.5%

Progyny (PGNY +19.36%) posted higher first-quarter revenue and profit while expanding its client base and completing a $200 million share repurchase program, signaling continued momentum despite the loss of a previously disclosed large client. Revenue rose 1.4% year over year to $328.5 million, or 12.2% excluding the lapsed contract.

12:20 pm

By Buck Hartzell

MercadoLibre's (MELI 12.61%) margins shrank as they invested in future growth. Credit expansion, improved logistics, first party sales, cross border trade and free shipping are all working well.

Issued 2.7 M credit cards in Q1 26. Credit growth requires reserving, which hurts near term margins. The stock remains attractive for patient capital.

11:25 am

Consumer sentiment plummeted to a preliminary reading of 48.2 in May, marking a fresh record low as the Iran war continues to drive energy costs higher. Despite a strong labor report, the University of Michigan survey revealed that one-third of respondents blame surging gas prices — now averaging $4.54 nationally — for their deteriorating outlook. While retail giants like Walmart (WMT +0.88%) and Amazon (AMZN +0.59%) have remained resilient, the 9% drop in current conditions suggests major purchases are being shelved. Sentiment is unlikely to recover until supply disruptions resolve, though stock indexes stayed positive as long-term inflation expectations eased slightly to 3.4%.

10:25 am

The AI infrastructure race is becoming a high-stakes cash-flow test for Alphabet (GOOG +0.01%), Microsoft (MSFT 1.16%), Amazon (AMZN +0.59%), and Meta Platforms (META 0.92%). Capital expenditures for data centers and chips are consuming an increasingly large share of operating cash, with Amazon spending nearly everything it generates on build-outs. Alphabet is the most striking example of this tension; its forward price-to-free-cash-flow multiple has soared above 200x. While these "hyperscalers" can afford the massive investment, the market is closely watching for when this capital-intensive "backbone" starts yielding clear bottom-line payoffs as free cash flow gets squeezed.

9:35 am

Markets are climbing this Friday as a robust jobs report and resilient tech earnings override geopolitical friction. Nonfarm payrolls added 115,000 positions in April, shattering the 55,000 estimate, while the unemployment rate held steady at 4.3%. Chipmakers are providing the muscle, with Qualcomm (QCOM +7.57%) up 6% and Micron Technology (MU +13.09%) rising 4%. Despite a brief exchange of fire in the Strait of Hormuz, which President Trump characterized as a "love tap," markets remain optimistic. Investors are closely watching for Iran's formal response to a peace proposal as the S&P 500 continues to flirt with all-time highs.

9:15 am -- TTD -13.11% in pre-market trading

By Sanmeet DeoTeam Rule Breakers

It seems the most pressing concern coming out of The Trade Desk's (TTD 5.96%) Q1 2026 earnings is not the macro nor the EPS miss but whether the Publicis situation represents an isolated negotiating dispute or the beginning of a broader agency pushback against TTD's pricing and transparency practices.

Omnicom's subsequent audit found no issues, which suggests the Publicis allegations may be overstated. But the market does not trade on what Omnicom found. It trades on uncertainty, and the uncertainty here is significant. Publicis manages enormous ad budgets for global brands. If their advisory against TTD sticks with even a portion of their clients, the revenue impact in Q2 and Q3 could be material, and TTD's guidance would be giving no credit to that risk.

The secondary concern is margin trajectory. A full-year target of at least 40% adjusted EBITDA margin requires a dramatic improvement from the 30% reported in Q1. That ramp requires either a meaningful revenue acceleration in the back half of the year or aggressive cost containment. The call gave investors no clear picture of which lever management is pulling.

The bull case remains intact in the long-term, the open Internet thesis, retail media, AI search, objectivity as competitive advantage. Jeff Green's $150 million personal stock purchase is not nothing. But the near-term is genuinely cloudy, and the call did more to validate investor anxiety than to resolve it.

9:15 am

The U.S. labor market demonstrated surprising resilience in April, adding 115,000 jobs--nearly doubling economist forecasts of 65,000. While the tech-heavy information sector continues to contract, essential services like healthcare and logistics are propping up the S&P 500. Wage growth moderated to a 3.6% annual clip, providing a "Goldilocks" scenario for the Federal Reserve: strong enough to prevent a recession, but cool enough to avoid an inflationary spiral. This stability likely cements a "higher-for-longer" interest rate path, favoring companies with robust cash flows over speculative growth names.

8:00am

Micromobility pioneer Lime, officially incorporated as Neutron Holdings, has filed for an initial public offering to list on the Nasdaq under the ticker symbol "LIME." The start-up arrives at the public gates with significant institutional backing, most notably from Uber Technologies (UBER 1.88%), and a narrative centered on robust revenue expansion and a surging global user base. While the filing remains "placeholder" in nature--omitting specific pricing terms and valuation targets--the heavy-hitting underwriting team led by Goldman Sachs (GS +0.57%) and JPMorgan Chase (JPM 1.73%) suggests a high-conviction push to capitalize on the recent thaw in the IPO market.

7:30 am -- NET -17.75% in pre-market trading

Cloudflare (NET 23.47%) fell over 18% ahead of the opening bell as investors see the company belatedly playing catch-up on AI, with management noting it's "the biggest tailwind we've ever seen," along with quarterly results showing a 4.67% fall in gross profit margins from the prior-year period.

6:30 am -- COST unchanged in pre-market trading

Costco (COST 0.07%) was the subject of the latest Scoreboard video.

6:00 am -- RKLB +6.83% in pre-market trading

By Lou WhitemanTeam Hidden Gems

Rocket Lab (RKLB +28.95%) beat expectations for the quarter, but the real story of the earnings report was how little drama there was about the quarter.

The company generated $200 million in revenue in the quarter and posted a $12 million EBITDA loss, better than Wall Street's $190 million and a loss of $26 million expectation. But note that the company had guided for $185 million to $200 million in revenue, and the EBITDA beat was largely because of accounting: Rocket Lab benefited from a reversal of some 2025 bonus compensation accruals.

Rocket Lab needs to be viewed as a long-term growth story, not a quarter-to-quarter standout. And the company's forecast for the future, though not surprising, was encouraging. The company grew its backlog by 20% since last quarter thanks to strong bookings in its launch business.

5:15 am -- TSM +0.63% in pre-market trading

TSMC (TSM 1.34%) reported a robust 17.5% year-over-year revenue increase for April, totaling NT$410.73 billion ($13.08 billion), as the global appetite for advanced AI hardware remains insatiable. While monthly sales dipped a marginal 1.1% from March, the year-to-date trajectory is formidable, with revenue up nearly 30% through the first four months of 2026. The world's leading foundry is successfully navigating a complex macro environment, leveraging its dominance in 3nm and 5nm nodes to support "Magnificent Seven" clients like Nvidia (NVDA +1.72%) and Apple (AAPL +1.69%). Management's bullish Q2 guidance of up to $40.2 billion suggests that the bottleneck for growth remains production capacity rather than a lack of orders.

5:00 am -- SRAD +0.88% in pre-market trading

By Morning Show host Jim Mueller, CFATeam Rule Breakers

What should you do if you're the CEO of a company when a short attack article comes out about your company?

If you're smart, very little. At most, comment on any errors of fact, answer analyst questions, and then shut up.

That's what Carsten Koerl, CEO of Sportradar (SRAD 5.94%), has done.

A bit over two weeks ago, Muddy Waters and Calisto Research put out nearly identical short reports on the company claiming, among other things, that the company should be unprofitable because it was purposefully doing business with criminal enterprises. Evidence given was an interaction with a sales rep and finding evidence of Sportradar's code on various illegal gambling websites.

Shares fell over 20% that day. Good for Muddy Waters, I guess.

In reply, the company moved up its earnings release and did nothing else until the new release date. Then, on the day of earnings, they filed with the SEC a document explaining that there were three ways for their code to be found on various sites, only one of which was legitimate. Further, the way Muddy Waters detected the code couldn't distinguish among the three.

During the conference call Koerl also answered questions posed by analysts about various points raised by Muddy Waters. For example, he said that the sales rep was quite young (as in inexperienced) and that talk is talk until due diligence has been performed. He strongly implied t