Finance

Shares of Cisco Systems fell over 8% after reporting quarterly results, as analysts pointed to worries regarding future profit margins and conservative projections. Similarly, AI chipmaker Cerebras experienced a 12% decline when its revenue spike fell short of aggressive investor expectations. These movements highlight heightened scrutiny on commercial yields as market enthusiasm shifts from tech promises to verifiable returns.

S&P Dow Jones Indices announced that Reddit will be added to the S&P 500 index prior to the market opening on August 18. The social media company is slated to replace AvalonBay Communities, which is being acquired by Equity Residential. In tandem with these index updates, Sun Communities will also be elevated to the S&P MidCap 400 index to take the place of Webster Financial.

The Securities and Exchange Commission abruptly canceled a scheduled meeting intended to introduce a specialized framework for crypto-based investment contracts. Citing an unexpected scheduling conflict, the regulatory body stated that the pivotal vote will be delayed to a later date. This administrative pause adds another layer of friction to the digital asset sector as broader crypto legislation remains stuck in Congress.