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Novavax stock skyrocketed on Friday, nearly doubling on the news French drug and vaccine giant Sanofi (would invest $1.2 billion in a deal for Novavax's COVID-19 vaccine and take a minority stake in the struggling biotech company. The deal gave Novavax a much-needed cash boost as the company had flagged after a pandemic-era surge. https://yhoo.it/4bAIZVt

The Dow eked out its eighth straight session of gains on Friday and closed out its best week of the year as US stocks finished the day mostly in the green. The gains came despite the three major indexes losing some steam earlier in the session after consumer sentiment hit a six-month low. The Dow Jones Industrial Average, which capped off its best week since Dec. 15, jumped roughly 0.3%, or about 125 points. https://yhoo.it/3QCngnS

Leave it to Tesla CEO Elon Musk to add more chaos to a situation that he ostensibly created in the first place. In a tweet on X early Friday morning, Musk addressed concerns many have had over his recent move to shrink down Tesla’s Supercharger team. “Just to reiterate: Tesla will spend well over $500M expanding our Supercharger network to create thousands of NEW chargers this year,” Musk wrote. “That’s just on new sites and expansions, not counting operations costs, which are much higher.” https://yhoo.it/3yf2dkW

US consumers are becoming increasingly worried about the trajectory of the US economy amid sticky inflation and the prospect of high interest rates for longer than initially hoped. The latest consumer sentiment survey released Friday revealed a 13% decline in overall sentiment during the month of May. https://yhoo.it/4acHjAd

New data shows most Americans don’t expect to work into their mid-60s, a sharp change in expectations in the past five years. It's the third major labor market effect from the pandemic-era, after the "not enough jobs" phase (2020) and "not enough workers" (2021) phase, otherwise known as the "Great Resignation." Read more in our Chart of the Week column.

The dust is settling, and results from the beer giants are coming in. Bud Light parent company Anheuser-Busch InBev posted better-than-expected Q1 results, a year after an advertising campaign kicked off a boycott starting April 2023. Yet, Constellation Brands and Molson Coors have been fighting to hold on to their gains from Bud's losses while looking for more room to grow. https://yhoo.it/4dxkvOA

US consumers are becoming increasingly worried about the trajectory of the US economy amid sticky inflation and the prospect of high interest rates for longer than initially hoped. The latest University of Michigan consumer sentiment survey released Friday revealed a 13% decline in overall sentiment during the month of May. The index reading for the month came in at 67.4, its lowest level in six months, and well below economist expectations for a reading of 76.2. Year-ahead inflation expectations hit 3.5% in Friday's report, up from 3.2% in the month prior. Longer-run inflation expectations rose to 3.1%, up from 3% the month prior. "While consumers had been reserving judgment for the past few months, they now perceive negative developments on a number of dimensions," survey of consumers director Joanne Hsu said in a statement. "They expressed worries that inflation, unemployment and interest rates may all be moving in an unfavorable direction in the year ahead." The drop in sentiment comes after several months of data showing that inflation's downward path hasn't been as smooth as many economists had hoped. More: https://lnkd.in/e_vKasa2 #yahoofinance #finance #economy #money

Stocks have rebounded from a rough April, led by two sectors that typically outperform when the economy is in a downturn. Since April 16, around when the S&P 500 hit its recent bottom, Utilities have led the charge, rising nearly 12%. Consumer Staples stocks have risen almost 5% in the same time period. https://yhoo.it/3UUcWub

Roblox stock plummeted more than 21% on Thursday after it said players were not spending as much within its video-game platform. The gaming platform slashed it annual bookings forecast, raising concerns of lower player engagement. Year-to-date, the stock is down about 28%. https://yhoo.it/4abi2X7

Tesla has been accused by a US labor agency of discouraging workers at a New York assembly plant from union organizing by barring them from using phones and other devices. The new claims add to a pile of legal disputes between Tesla, its workers, and government agencies over the electric carmaker's employment practices, including other cases alleging unlawful anti-union conduct and a series of race discrimination lawsuits. https://yhoo.it/4bb7Tee