01 Stock Market
The U.S. major indexes closed as follows: Dow Jones up 0.48% at 46,565.74; S&P 500 up 0.72% at 6,575.32; NASDAQ up 1.16% at 21,840.95. A rebound in technology shares outweighed softness in energy names, allowing all three benchmarks to advance for a second session and kick off the new quarter on a firm footing.
Chipmakers and high-beta ETFs headlined the day’s unusual moves. Memory giant Micron Technology (MU) surged eight point eighty-eight percent at $367.85, while SanDisk (SNDK) jumped nine point oh three percent at $692.73. Triple-leveraged fund SOXL leapt nine point oh eight percent at $52.26, and Intel (INTC) advanced eight point eighty-four percent at $48.03 after unveiling a multibillion-dollar buyback of its Irish fab stake. Among megacaps, Tesla (TSLA) climbed two point fifty-six percent at $381.26 ahead of its delivery update; Nvidia (NVDA) edged up zero point seventy-seven percent at $175.75; Advanced Micro Devices (AMD) added three point thirty-three percent at $210.21; Alphabet (GOOG) rose two point eighty percent at $294.90; and Apple (AAPL) gained zero point seventy-three percent at $255.63. In stark contrast, Nike (NKE) tumbled fifteen point fifty-one percent at $44.63 after warning of a potential revenue decline, making it the day’s worst performer in the Dow.
Sector rotation favored growth themes over cyclicals. Strength in semiconductors and AI-linked names helped the Invesco QQQ add 1.24%, while the SPDR S&P 500 ETF (SPY) rose 0.75%. On the downside, energy majors such as Exxon and Chevron lagged amid softer oil prices, and apparel suffered on Nike’s gloomy outlook. Overall market breadth improved, with advancing issues outpacing decliners by roughly two-to-one on the NYSE.
02 Other Markets
U.S. 10-year Treasury yield rose by 0.03%, latest at 4.32%.
USD/CNH rose 0.03%, at 6.89; USD/HKD fell 0.0034%, at 7.84.
U.S. Dollar Index fell 0.02%, at 99.53.
WTI crude futures fell 1.00%, at 99.12 USD/bbl; COMEX gold futures fell 0.28%, at 4,799.40 USD/oz.
03 Top News
1. Eli Lilly won U.S. approval for its Foundayo weight-loss pill, expanding the GLP-1 market. The drug offers a once-daily oral alternative to injectable therapies, boosting convenience for patients. Lilly shares climbed on expectations of rising obesity-treatment revenue.
2. SpaceX has confidentially filed for an IPO, moving closer to a potential record-sized listing. People familiar with the matter said the company could seek a valuation above $1.75 trillion, with a possible June debut. Major banks including Goldman Sachs and Morgan Stanley are lined up to lead the offering.
3. Emirates Global Aluminium’s Al Taweelah smelter halted operations after a missile strike damaged its power plant. Consultancy Wood Mackenzie warned the shutdown could remove up to 1.5 million tons of annual capacity and tighten global aluminium supply. Shares of U.S. aluminium producers rallied on supply-concern tailwinds.
4. Intel will repurchase Apollo Global’s forty-nine percent stake in its Irish fab for $14.2 billion. The deal, funded with cash and $6.5 billion in new debt, restores full ownership of Fab 34 as AI demand ramps. Management expects the move to enhance profitability from 2027.
5. U.S. retail sales rose 0.6% in February, signaling resilient consumer spending despite higher fuel costs. Strong auto purchases and warmer weather lifted overall receipts, although economists caution that surging gasoline prices could curb momentum in coming months.
6. U.S. private payrolls increased by 62,000 in March, according to ADP, pointing to steady labor-market expansion. The reading exceeded expectations for a 40,000 gain and precedes Friday’s official non-farm payrolls report, helping to underpin confidence in economic growth.
7. Nike warned that full-year revenue may decline, citing sluggish international demand and inventory challenges. Executives flagged extended timelines for a turnaround under the Sport Offense strategy. The guidance erased over $15 billion in market value as shares slid sharply.
8. Microsoft announced a $5.5 billion investment to expand AI and cloud infrastructure in Singapore. The multi-year plan includes new data-center capacity and training programs for 100,000 workers, reinforcing the company’s Asia-Pacific growth ambitions in artificial intelligence services.
9. U.S. President Donald Trump said Iran’s leadership has requested a ceasefire, but conditions remain. He stated the U.S. would consider the proposal once the Strait of Hormuz is secure, temporarily easing geopolitical tensions and contributing to lower oil prices.
10. China’s BYD reported a seventh consecutive monthly sales decline, with March volumes down 20.5% year on year. Rising domestic competition and the shift to higher-priced battery models weighed on demand, though overseas deliveries now represent nearly half of total sales, supporting the company’s global expansion goals.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data Disclaimer: This content is for reference only and does not constitute investment advice.
