The U.S. major indexes closed as follows: the Dow Jones down 0.09% at $49,149.63; the S&P 500 down 0.53% at $6,926.60; and the Nasdaq Composite down 1.00% at $23,471.75.
Unusual-move stocks showed sharp divergences. Notably, AGQ up 15.77% at $266.56; SLV up 7.58% at $84.56; and CRML up 32.58% at $17.93. Large caps were mixed: TCOM down 17.05% at $62.78; INTC up 3.02% at $48.72; NVDA down 1.44% at $183.14; TSLA down 1.79% at $439.20; AVGO down 4.15% at $339.89; META down 2.47% at $615.52; MSFT down 2.40% at $459.38; AMD up 1.19% at $223.60; BABA up 1.73% at $169.90; COIN up 1.25% at $255.86; QQQ down 1.07% at $619.55; SPY down 0.49% at $690.36; VOO down 0.48% at $634.94; TQQQ down 3.18% at $53.83; GOOG down 0.04% at $336.31; MU down 1.41% at $333.35.
Chinese ADRs and crypto-linked names were mixed. E-commerce and internet: PDD down 3.98% at $107.85; NTES down 2.74% at $139.00; BILI up 6.18% at $33.34; VNET up 7.37% at $11.94; ZLAB up 4.75% at $19.61. Crypto proxies saw support alongside broader digital-asset strength, while precious-metals proxies outperformed, led by SLV and AGQ. Travel names underperformed as TCOM slumped.
02 Other Markets
U.S. 10-year Treasury yield fell by 0.14%, latest at 4.13.
USD/CNH rose 0.00%, at 6.97; USD/HKD fell 0.0051%, at 7.80.
U.S. Dollar Index rose 0.01%, at 99.07.
WTI crude futures fell 2.08%, at 60.59 USD/bbl; COMEX gold futures fell 0.56%, at 4,609.70 USD/oz.
03 Top News
U.S. leadership imposed a 25% tariff on imports of certain advanced computing chips, citing national security. The measure targets chips such as the Nvidia H200 and AMD MI325X, with exemptions for data-center and certain civilian uses. Officials signaled possible broader semiconductor tariffs to incentivize domestic manufacturing, impacting global supply chains and procurement strategies.
The White House announced an executive order to secure critical minerals supply chains, boosting rare earth equities. The directive empowers Commerce and USTR to pursue agreements and consider pricing mechanisms to reduce reliance on foreign processing. Rare earth names rallied, with CRML highlighted intraday, reflecting investor expectations of policy tailwinds for domestic and allied producers.
Tesla shifted its Full Self-Driving offering to subscription-only, ending one-time purchases. Pricing implies multi-year breakeven versus prior one-time fees, potentially smoothing revenue and expanding recurring uptake. The move underscores strategic focus on autonomy monetization as Tesla scales driver-assistance capabilities and prepares broader robo-taxi ambitions.
The FCC authorized SpaceX to deploy up to 15,000 second-generation Starlink satellites enabling direct-to-cell. Expanded frequency use and constellation scale aim to improve global broadband coverage and mobile connectivity. The approval intensifies competition across satellite communications and could lift demand for network equipment suppliers.
Microsoft announced standardized community commitments for data centers on energy costs, water replenishment, and taxes. The policy seeks to reduce local friction amid rapid AI infrastructure build-outs. By addressing affordability and sustainability concerns, Microsoft aims to maintain permitting momentum and on-time capacity deployment.
U.S. authorities approved conditional exports of Nvidia’s H200 AI chips to China under a tighter compliance framework. Safeguards include third-party validation and caps relative to U.S. allocations to mitigate military end-use risk. Conditions could unlock commercial orders while preserving national-security objectives, influencing AI hardware supply lines.
Bank of America reported higher quarterly profit as trading revenue rose on market volatility. Net income reached about $7.6 billion, reflecting stronger client activity in fixed income and equities. Results suggest diversified revenue streams supporting performance despite macro uncertainties.
Citigroup’s quarterly profit declined due to a charge tied to its Russia unit sale, while dealmaking improved. Earnings fell as the board-approved divestiture produced a roughly $1.2 billion pre-tax loss related to currency translation. Investment banking fees rose, signaling recovery in corporate activity and advisory pipelines.
Wells Fargo posted an EPS beat but revenue missed, with credit provisions reflecting loan mix changes. Non-GAAP EPS came in at $1.76, while revenue was near $21.29 billion. Allowance adjustments highlighted growth in certain loan categories amid a cautious stance on commercial real estate exposure.
U.S. macro data showed producer prices firmed and retail sales outperformed, pointing to resilient demand. PPI advanced modestly month-on-month and about 3% year-on-year, with energy costs contributing. Retail sales rose 0.6%, led by autos and holiday shopping, indicating consumer strength even as affordability concerns linger.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: This content is for reference only and does not constitute investment advice.
