01 Stock Market
The U.S. major indexes closed as follows: the Dow Jones down 0.34% at 49,240.99, the S&P 500 down 0.84% at 6,917.81, and the Nasdaq Composite down 1.43% at 23,255.19.
Unusual-move stocks were mixed, with AI hardware names softer and metals proxies rallying. NVDA down 2.84% at $180.34. MSFT down 2.87% at $411.21. AMD down 1.69% at $242.11. MU down 4.19% at $419.44. PYPL down 20.31% at $41.70. META down 2.08% at $691.70. GOOG down 1.22% at $340.70. AAPL down 0.20% at $269.48. AVGO down 3.26% at $320.33. ORCL down 3.37% at $154.67. NFLX down 3.41% at $79.94. TSLA up 0.04% at $421.96. PLTR up 6.85% at $157.88. INTC up 0.90% at $49.25. WDC up 7.40% at $290.24. MP up 9.30% at $64.61. USAR up 17.46% at $25.97. Precious-metals proxies rallied: GLD up 6.36% at $454.29; SLV up 6.24% at $76.96; leveraged AGQ up 12.03% at $166.25; inverse ZSL down 12.89% at $2.23. Semiconductor beta ETFs eased: SOXL down 6.13% at $61.20; TQQQ down 4.68% at $52.52. Broad-market ETFs also softened: SPY down 0.85% at $689.53 and VOO down 0.86% at $634.15.
Moves reflected stock-specific catalysts: payments weakness following cautious guidance, memory/storage strength on capital return, and metals’ rebound. The steep PYPL decline matched cautious profit commentary and a leadership transition, while WDC’s buyback tailwind supported storage peers. Metals proxies (GLD, SLV, AGQ) gained as safe-haven and commodity momentum returned, and selective AI-exposed names such as PLTR advanced on upbeat outlooks. Meanwhile, megacap chips (NVDA, AMD, MU) and software heavyweights (MSFT, ORCL) continued to consolidate after recent earnings and supply headlines.
02 Other Markets
The U.S. 10-year Treasury yield fell by 0.18%, latest at 4.27.
USD/CNH rose 0.00%, at 6.94; USD/HKD rose 0.00%, at 7.81.
U.S. Dollar Index rose 0.01%, at 97.41.
WTI crude futures rose 0.76%, at 63.69 USD/bbl; COMEX gold futures rose 0.82%, at 4,975.60 USD/oz.
03 Top News
Super Micro Computer raised its fiscal-year revenue outlook to at least $40 billion, citing robust AI server demand and strong orders. Management highlighted continued strength from large data center and enterprise customers, working closely with Nvidia and AMD to deliver AI-optimized systems. Quarterly revenue topped estimates, aided by delayed shipments that were recognized later, underscoring momentum in AI infrastructure.
AMD forecast a slight sequential decline in first-quarter revenue to about $9.8 billion, while including unexpected AI chip sales to China that lifted guidance. Data-center revenue growth remained strong, but investors weighed supply constraints for high-bandwidth memory and the competitive backdrop versus Nvidia. Shares fell in extended trading as the company balanced AI product launches with component availability.
PepsiCo announced price cuts of up to 15% on core snack brands including Lay’s and Doritos to bolster affordability and volume. The company highlighted portion-controlled offerings and refreshed, lower-sugar formulations to engage younger households. After topping quarterly expectations, management said targeted reductions aim to return North America snacks to volume growth amid consumer budget pressures.
PayPal appointed Enrique Lores as CEO and issued cautious profit guidance, as branded checkout growth decelerated and U.S. retail softness weighed on results. The company plans to modernize checkout, expand biometrics, and improve how payment options surface during transactions. Shares dropped sharply as investors assessed near-term profitability and execution on growth initiatives.
Disney named Josh D’Amaro as CEO, elevating the parks and experiences leader to drive the company’s largest profit engine. Management has outlined significant investment plans to expand theme parks and cruise capacity, integrating gaming technology through partnerships such as Epic Games. The move underscores a strategic emphasis on experiences as streaming profitability continues to develop.
Western Digital authorized an additional $4.0 billion for share repurchases, reinforcing capital returns amid rising AI-driven memory demand. Buybacks may occur via open market or 10b5-1 plans, depending on market conditions. Shares rose as investors welcomed the expanded authorization alongside recent strong guidance tied to AI server storage needs.
Marathon Petroleum beat profit estimates, supported by stronger refining margins and improved crack spreads across U.S. operations. Refining and marketing core profit jumped, reflecting better spreads versus the prior year’s lows. The company’s performance highlighted recovering downstream economics after a period of margin compression.
Merck guided next-year sales below consensus as patent expirations on legacy products weigh, even as Keytruda growth remains solid. Management pointed to pricing pressures and reduced demand across legacy portfolios, while reaffirming focus on oncology, cardiometabolic, and immunology deal-making. Quarterly sales and adjusted profit exceeded expectations, supported by continued Keytruda momentum.
SpaceX acquired xAI, consolidating Elon Musk’s AI and space ventures and formalizing ties with Tesla, which owns a small stake in the combined entity. The transaction strengthens strategic alignment, with potential long-term plans for AI compute infrastructure in space. The move spurred interest across space and satellite names as investors assessed new AI-in-space opportunities.
Palladyne AI won a defense contract to deliver a propulsion subsystem for a U.S. missile program, with revenue expected near $1 million. The company aims to complete deliverables within upcoming quarters. Shares climbed in premarket trading as the award added visibility to near-term growth.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: This content is for reference only and does not constitute investment advice.
