Imani Moise

Robinhood shares rallied 31 percent over the week, while shares in rival Webull ended 36 percent higher.

Gucci, Louis, and Birkins are falling out of vogue, at least in the stock market.

Luxury stocks Louis Vuitton owner LVMH, Gucci owner Kering, and Birkin bag maker Hermes all warned this week about the Iran war's effect on big spending consumers in the Middle East.

The conflict has shuttered some stores in the region and disrupted international travel, keeping shoppers from visiting European boutiques.

Shares in Gucci parent Kering tumbled 8% over the week and Hermes shares slipped 0.9%.

But LVMH shares rose 3%.

The downbeat reports from top brands rippled across the sector.

Prada, which reports later this month, traded at a record low relative to earnings.

Techbro footwear brand Allbirds is pivoting to the only thing Silicon Valley loves more than slip-on sneakers right now, AI.

Shares in the company surged more than 300% this week after the company said it will rename itself New Bird AI and will shift its business model to renting AI chips to companies.

After struggling for years, the company sold off most of its sneaker-related assets last month for about $39 million.

Allbridge joins a long list of companies including a karaoke provider and an iced tea distributor that have tried to pivot to tech to improve their market performance.

History has proved that the move usually doesn't work out.

And now you know what's news in markets this week.

You could read about more stocks that move on the week's news in our live markets coverage on WSJ.com.

Today's show was produced by Anthony Bansi with supervising producer Melanie Roy.

I'm Imani Moise.

Have a great weekend and catch you next Saturday.

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