What’s News in Markets: New Record Highs, Luxury Woes, and AI Makeovers

Major U.S. stock indexes hit record highs as investors focused on resilient consumer spending and tech-driven gains, despite geopolitical tensions in Iran. Luxury stocks stumbled due to disrupted Middle East travel and store closures, while digital brokerages surged after the SEC moved to end the pattern day trading rule. Allbirds rebranded as New Bird AI and pivoted to renting AI chips, sparking a 300% stock surge despite historical skepticism around such tech pivots.

Provides a concise, data-rich snapshot of how geopolitical events, regulatory shifts, and corporate pivots moved markets this week.

1. 01Nasdaq logged its longest winning streak in 30 years (13 days) and closed 6.8% higher, driven by strong tech performance and semiconductor demand.
2. 02SEC approval of the end of the pattern day trading rule boosted Robinhood (up 31%) and Webull (up 36%), with expectations of increased retail trading activity.
3. 03Luxury firms like Kering and Hermes saw stock declines due to reduced high-end consumer travel and regional store closures amid Middle East conflict.