Citi $C analyst Tyler Radke reiterated a neutral stance on Palantir Technologies $PLTR, maintaining a price target of $115. Despite investor enthusiasm around the company's artificial intelligence initiatives, Radke argued that Palantir’s valuation appears stretched unless it secures more sizable, recurring contracts in the near term. His assessment follows a recent meeting with the company’s leadership.

European equities opened sharply lower on Friday as geopolitical tensions escalated following Israel’s early morning strikes on Iranian territory. The broad-based STOXX Europe 600 $^STOXX index fell 1%, with red dominating across nearly all sectors. Only the energy complex, buoyed by rising crude prices, remained in positive territory. The intensification of conflict in the Middle East renewed investor anxiety, triggering a defensive rotation away from risk assets. Equity markets across Europe reacted swiftly to the overnight developments, reflecting heightened sensitivity to geopolitical shocks in a macro environment already challenged by interest rate uncertainty and subdued economic momentum.

Chime Financial Inc. made a robust entrance on the public markets, with shares surging 37% on their first trading day following a significantly oversubscribed initial public offering. The neobank’s shares opened at $43, substantially above the IPO price of $27, and briefly climbed 66% before settling at $37.11 at the close of trading in New York. The offering raised $864 million, positioning it as the sixth-largest U.S. IPO of 2025 to date.