01 Stock Market
The U.S. major indexes closed as follows: Dow Jones up 0.63% at 48,218.25; S&P 500 up 1.02% at 6,886.24; NASDAQ up 1.23% at 23,183.74. A late-session bid for technology and selected cyclicals overcame early caution, delivering a broad advance across benchmarks.
Big movers clustered in tech and M&A stories. Flash-memory leader Sandisk (SNDK) jumped 11.83% at $952.50 after confirmation it will enter the Nasdaq 100. Database giant Oracle (ORCL) leapt 12.69% at $155.62 on upbeat cloud demand guidance, while GPU supplier CoreWeave (CRWV) climbed 8.11% at $110.27 on analyst upgrades tied to AI contracts. PC maker Dell (DELL) rose 6.74% at $189.79, and chipmaker Intel (INTC) added 4.49% at $65.18. Market heavyweight Nvidia (NVDA) inched up 0.36% at $189.31, but smartphone bellwether Apple (AAPL) slipped 0.49% at $259.20 after mixed brokerage commentary. Electric-vehicle pioneer Tesla (TSLA) gained 0.99% at $352.42, while optical-component producer Lumentum (LITE) declined 2.91% at $871.18.
Corporate actions drove the tape. Speculation over a potential tie-up between United and American Airlines lifted transport names, SanDisk’s index promotion spurred index-tracking inflows, and fresh buy ratings on CoreWeave, Nokia and Bilibili ignited AI-linked enthusiasm. Meanwhile, Goldman's earnings beat but fixed-income weakness tempered bank shares, and Somnigroup’s $2.5 billion takeover of Leggett & Platt offered a reminder that vertical integration remains a viable cost-control strategy even amid elevated borrowing costs.
02 Other Markets
U.S. 10-year Treasury yield fell by 0.09%, latest at 4.29%. USD/CNH fell 0.07%, at 6.84; USD/HKD rose 0.0031%, at 7.83. U.S. Dollar Index fell 0.0285%, at 98.39. WTI crude futures fell 1.58%, at 97.51 USD/bbl; COMEX gold futures rose 0.36%, at 4,784.50 USD/oz.
03 Top News
1. United Airlines’ CEO floated a merger with American Airlines, sparking a 5% jump in American’s shares. Scott Kirby has discussed the concept with senior officials, though no formal talks are confirmed. Investors interpreted the overture as a sign of renewed consolidation appetite in U.S. aviation.
2. Goldman Sachs beat profit expectations but cited weak fixed-income trading, sending its stock lower. Record equities-trading revenue and a 48% surge in investment-banking fees drove earnings. Fixed-income, currencies and commodities revenue slid 10%, tempering investor enthusiasm.
3. Mattress maker Somnigroup agreed to buy supplier Leggett & Platt in an all-stock deal worth $2.5 billion. Leggett holders will receive 0.1455 Somnigroup share per share, giving them roughly 9% of the combined company. Management expects cost synergies and expanded end-markets.
4. President Trump ordered a naval blockade of the Strait of Hormuz, warning Iranian ships would be “eliminated” if they approach. The escalation heightened geopolitical risk and initially lifted oil prices before a late-day pullback. Energy equities showed mixed reactions.
5. Nasdaq will add Sandisk to the Nasdaq 100, replacing Atlassian, propelling Sandisk shares over 11%. Inclusion forces index funds to buy the stock, while Atlassian fell on its exit. Sandisk’s year-to-date gain exceeds 250% amid AI-driven memory demand.
6. Ideaya Biosciences announced positive mid-stage data for its eye-cancer therapy, driving a 16% share spike. The darovasertib combination doubled median progression-free survival versus standard care. Partner Servier will share development costs outside the U.S.
7. Macquarie upgraded CoreWeave to Outperform, citing structural AI demand from deals with Meta and Anthropic. The broker expects the GPU-cloud specialist to deepen its ecosystem role. CoreWeave stock rose more than 8% on the call.
8. Bank of America upgraded Nokia to Buy, calling the company an emerging “optical powerhouse.” Analysts highlighted momentum in high-speed networking gear and a favorable European market position. Nokia shares advanced about 5%.
9. Morgan Stanley lifted Bilibili to Overweight, pointing to AI tailwinds and stronger game pipeline visibility. The upgrade follows a recent pullback that improved valuation metrics. Bilibili’s U.S.-listed ADRs rose nearly 3% on the news.
10. ARK Invest purchased an additional 85,000 Palantir shares while President Trump praised the company’s defense capabilities. The dual endorsements supported a 2% intraday rise in Palantir, which has lagged broader AI peers this year. ARK framed the trade as capitalizing on recent weakness.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data Disclaimer: This content is for reference only and does not constitute investment advice.
