01 Stock Market
The U.S. major indexes closed as follows: Dow Jones up 0.11% at 45,216.14; S&P 500 down 0.39% at 6,343.72; NASDAQ down 0.73% at 20,794.64. Slippage in heavyweight technology stocks dragged on the broader market, offsetting modest gains in industrial and energy names and leaving the Dow narrowly positive while growth-oriented benchmarks fell.
Micron’s slide and semiconductor swings dominated the session. Memory-chip maker Micron (MU down 9.88% at $321.80) led the decliners after cautious sector commentary, while leveraged ETF SOXL (SOXL down 12.85% at $40.62) and its inverse peer SOXS (SOXS up 13.09% at $48.74) underscored volatility. Optical-component supplier Applied Optoelectronics (AAOI down 13.26% at $85.19) and wafer specialist AXTI (AXTI down 13.03% at $52.73) also plunged. Among megacaps, NVIDIA (NVDA down 1.40% at $165.17) and Tesla (TSLA down 1.81% at $355.28) extended recent pullbacks, while Microsoft (MSFT up 0.61% at $358.96) and Meta Platforms (META up 2.03% at $536.38) managed gains after fresh AI announcements.
Defensive and commodity plays offered relative strength. United States Oil Fund (USO up 4.53% at $129.83) tracked another jump in crude prices, and aluminum producer Alcoa (AA up 12% intraday) benefited from Middle-East supply concerns. Mortgage giants Fannie Mae (FNMA up 25%) and Freddie Mac (FMCC up 22%) surged on activist commentary, while Sigma Lithium (SGML up 13.5%) rallied on new offtake deals. The mixed tape highlighted a barbell positioning between resource sensitivity and select AI beneficiaries as investors parsed geopolitical risk.
02 Other Markets
U.S. 10-year Treasury yield rose 0.19%, latest at 4.35%.
USD/CNH rose 0.0347%, at 6.91; USD/HKD fell 0.0032%, at 7.84.
U.S. Dollar Index rose 0.0498%, at 100.55.
WTI crude futures rose 2.80%, at 105.76 USD/bbl; COMEX gold futures fell 0.57%, at 4,531.70 USD/oz.
03 Top News
1. Microsoft Unveils Multi-Model Upgrades For Copilot. The new “Critique” feature combines outputs from OpenAI’s GPT and Anthropic’s Claude to reduce hallucinations and improve accuracy. A forthcoming “model council” will let users compare responses side-by-side, reinforcing Microsoft’s push to widen Copilot’s adoption.
2. Sysco To Acquire Jetro Restaurant Depot In $29 Billion Cash-and-Share Deal. The top U.S. food distributor will fund the purchase largely with $21 billion of new debt, expanding its reach among price-sensitive independent restaurants. Jetro owners will own about 16% of the combined company when the transaction closes, expected by fiscal 2027 Q3.
3. Alaska Air Warns Of Larger First-Quarter Loss On Surging Fuel Costs. The carrier now projects an adjusted loss of $1.50 to $2.00 per share as Brent’s 58% monthly spike lifts jet-fuel expenses. Shares fell over 7%, and management cited weaker Mexico demand and Hawaiian weather disruptions alongside resilient corporate bookings.
4. Middle-East Strikes Propel Aluminium To Four-Year Highs. Iranian missile damage at major Gulf smelters pushed LME aluminium above $3,490/tonne, the loftiest level since 2022. U.S. producers Century Aluminum and Alcoa rallied up to 17% as investors braced for extended supply tightness.
5. Sigma Lithium Secures $146 Million Offtake Prepayments To Boost Liquidity. Two multiyear agreements cover high-grade concentrate deliveries starting 2026 and halve trade-finance debt, supporting plans to lift output to 240,000 tonnes annually at an all-in cost near $592/tonne.
6. Fannie Mae And Freddie Mac Shares Soar After Bill Ackman Calls Them “Stupidly Cheap.” The hedge-fund manager’s social-media remarks ignited gains exceeding 20% in both stocks, though they remain far below 2025 highs amid uncertainty over potential liberation from federal conservatorship.
7. Fed Chair Powell Reiterates Commitment To Returning Inflation To 2%. In a Harvard discussion, Powell defended quantitative easing, noted tariff-driven price pressures, and stressed vigilance on inflation expectations, signaling the central bank’s readiness to maintain restrictive policy if needed.
8. President Trump Threatens Strikes On Iranian Energy Assets Unless Hormuz Reopens. The statement warned of “complete obliteration” of oil wells and power plants should negotiations fail, escalating geopolitical risk and underpinning the latest rally in crude prices.
9. SpaceX IPO Nears As Company Joins U.S. Spectrum Auction. Valued around $1.3 trillion privately, Elon Musk’s firm will bid for advanced wireless frequencies to expand direct-to-device broadband ahead of an anticipated blockbuster listing, challenging traditional telecom incumbents.
10. Nvidia’s Valuation Drops To Seven-Year Low Despite Strong Earnings Outlook. A nearly 20% pullback and rising analyst profit forecasts have compressed the chipmaker’s forward P/E to about 19.6×, now below the S&P 500 average, reflecting investor caution over AI spending payoffs.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data Disclaimer: This content is for reference only and does not constitute investment advice.
