01 Stock Market
The U.S. major indexes closed as follows: Dow Jones up 0.58% at 48,185.80; S&P 500 up 0.62% at 6,824.66; NASDAQ up 0.83% at 22,822.42. A strong technology bid helped all three gauges extend their recovery, with investors rotating back into semiconductor and megacap growth names despite lingering macro-economic cross-currents. Chipmakers and Megacaps Led The Day’s Unusual Moves. Micron Technology (MU up 3.63% at $421.51) climbed after upbeat demand commentary, while Marvell Technology (MRVL up 4.79% at $119.93) rallied on a bullish brokerage upgrade tied to optical-networking momentum. Intel (INTC up 4.70% at $61.72) gained on a new AI infrastructure pact with Google Cloud, and Amazon.com (AMZN up 5.60% at $233.65) soared after revealing a rapidly growing AI-chip business. Nvidia (NVDA up 1.01% at $183.91), Advanced Micro Devices (AMD up 2.08% at $236.64) and Broadcom (AVGO up 1.22% at $354.91) all advanced, extending the semiconductor rally. On the flip side, Palantir Technologies (PLTR down 7.30% at $130.49) tumbled on competitive worries, and electric-vehicle maker NIO (NIO down 4.86% at $6.07) slid amid profit-taking in Chinese ADRs.Leveraged sector ETFs amplified the action and signaled traders’ conviction. The bullish Direxion Daily Semiconductors ETF (SOXL up 6.64% at $71.98) surged alongside chip leaders, while its inverse counterpart (SOXS down 6.53% at $25.20) slumped. Broader tech sentiment was buoyed by Meta Platforms (META up 2.61% at $628.39) on new cloud deals, Apple (AAPL up 0.61% at $260.49) and Alphabet (GOOG up 0.52% at $316.37). Tesla (TSLA up 0.69% at $345.62) staged a mild rebound, while Oracle (ORCL down 3.70% at $137.86) lagged after a broker downgrade. Overall, the session highlighted investors’ continued focus on AI-linked stories and the potential for earnings strength into the first-quarter reporting season.
02 Other Markets
U.S. 10-year Treasury yield fell by 0.23%, latest at 4.28%. USD/CNH rose 0.04%, at 6.86; USD/HKD fell 0.00%, at 7.83. U.S. Dollar Index rose 0.05%, at 98.85. WTI crude futures rose 1.21%, at 99.05 USD/bbl; COMEX gold futures fell 0.69%, at 4,784.70 USD/oz.
03 Top News
1. CoreWeave Seals a $21 Billion Decade-Long Cloud Deal With Meta Platforms. The partnership expands existing ties and will deliver high-performance AI infrastructure across multiple sites. Deployments will include early use of Nvidia’s Vera Rubin systems, underscoring escalating demand for advanced computing capacity.
2. Amazon Forecasts Its In-House AI Chip Sales Could Rival Broadcom’s. CEO Andy Jassy told shareholders that Amazon Web Services’ AI chip business could generate up to $50 billion in annual revenue if sold externally. The disclosure highlights Amazon’s ambition to challenge dominant suppliers such as Nvidia and Broadcom.
3. Intel Extends Multiyear Collaboration With Google Cloud to Build AI Infrastructure. The agreement commits Google to successive generations of Intel Xeon processors and co-development of custom infrastructure processing units. Both firms aim to boost efficiency for hyperscale AI workloads, lifting Intel shares to a fresh yearly high.
4. Barclays Upgrades Marvell Technology, Citing Surging Demand for Optical Interconnects. The broker raised its rating to Overweight and lifted the price target to $150 as it expects Marvell’s optical-networking revenue to jump up to 90% over two years. Investors welcomed the call, sending the stock up nearly 5%.
5. Anthropic’s ‘Managed Agents’ Spark Sell-off in Palantir Shares on Competitive Fears. The AI firm’s new autonomous task solution raised concerns about disruptions to traditional seat-based software models. Palantir stock slid more than 7%, erasing part of its recent gains despite earlier positive contract news.
6. Unitree Robotics and Alibaba Plan Strategic Alliance for Global Expansion via AliExpress. The Chinese robotics maker’s latest model showcased at Alibaba’s Xixi campus ahead of a mid-April launch event. The collaboration aims to give domestic tech brands tailored infrastructure and sales channels to scale overseas.
7. U.S. Initial Jobless Claims Rise to 219,000, Exceeding Market Expectations. The figure topped the 210,000 consensus and marked an uptick from the prior week’s revised 203,000, hinting at a slight cooling in labor-market momentum. Treasury yields dipped briefly as traders reassessed the pace of economic resilience.
8. Core PCE Inflation Holds at 3.0% Year-on-Year, Matching Forecasts. The Federal Reserve’s preferred gauge showed modest easing from the prior 3.1%, reinforcing expectations that policymakers can maintain a patient stance. Stable underlying prices tempered fears of a policy surprise.
9. Final Estimate Shows U.S. Fourth-Quarter GDP Growing 0.5% Quarter-on-Quarter. The reading came in below the 0.7% consensus, suggesting softer momentum at the end of last year. Economists note that first-quarter data and robust labor figures will guide the Fed’s next steps.
10. White House Economic Adviser Signals Kevin Warsh Poised to Become Next Fed Chair in May. Advisor Kevin Hassett said he does not expect Jerome Powell to remain on the Board once his term ends and expressed confidence in Warsh’s timely confirmation. Markets weighed the prospect of policy continuity under new leadership.
Sources: Reuters, Dow Jones, Tiger Newspress, Thomson Reuters, public market data Disclaimer: This content is for reference only and does not constitute investment advice.
