01 Stock Market
The U.S. major indexes closed as follows: Dow Jones down 1.56% at 46677.85; S&P 500 down 1.52% at 6672.62; NASDAQ down 1.78% at 22311.98. Energy-led inflation worries and conflict-related supply risks weighed on risk assets, with breadth weak across cyclical and growth cohorts. Defensive pockets were mixed as rate expectations stayed relatively steady while commodity volatility rose.
Oil-linked plays rose while semiconductors, mega-cap tech, and leveraged growth ETFs broadly fell, highlighting elevated cross-asset churn. Standouts included USO up 9.57% at $118.39; while semiconductor leverage swung with SOXL down 10.36% at $50.28 and SOXS up 10.65% at $41.75. Chip bellwethers weakened: TSM down 5.03% at $336.71, INTC down 5.69% at $45.25, AMD down 3.46% at $197.74, MU down 3.19% at $405.35. Big tech was mostly lower: NVDA down 1.55% at $183.14, AAPL down 1.94% at $255.76, MSFT down 0.75% at $401.86, GOOG down 1.69% at $303.21, TSLA down 3.14% at $395.01. Energy outperformed with OXY up 5.09% at $58.41. Tactical sentiment gauges also swung: SQQQ up 5.21% at $74.33, TQQQ down 5.11% at $46.83, while broad ETFs SPY down 1.52% at $666.06 and QQQ down 1.72% at $597.26.
Micro-cap opticals and selected tech hardware saw outsized declines as volatility rose, while a few AI-adjacent names bucked the trend. Notably, AAOI fell 16.39% at $106.19 and LITE fell 8.32% at $616.09, underscoring pressure across optical components. Conversely, PLTR edged up 1.25% at $153.50 amid AI ecosystem headlines, and NIO gained 1.46% at $5.55, reflecting resilience in select ADRs. Overall, crosscurrents tied to energy, geopolitics, and AI supply chains drove unusually wide dispersion across individual stocks.
02 Other Markets
U.S. 10-year Treasury yield fell by 0.28%, latest at 4.26%.
USD/CNH rose 0.00%, at 6.87; USD/HKD rose 0.00%, at 7.83.
U.S. Dollar Index fell 0.04%, at 99.70.
WTI crude futures rose 0.86%, at 96.55 USD/bbl; COMEX gold futures fell 0.63%, at 5093.50 USD/oz.
03 Top News
1. Palantir And Nvidia Announced A Sovereign AI Operating System Reference Architecture, aiming to deliver turnkey AI data centers. The Palantir AI OS Reference Architecture, built on Nvidia Enterprise Reference Architectures, is designed to be production-ready from hardware procurement to application deployment. The collaboration seeks to accelerate AI adoption across regulated and government-grade environments.
2. Bumble Reported An Earnings Beat And Unveiled An AI-Led App Revamp, lifting investor confidence in its turnaround. The company said the redesign targets re-engagement of younger users and deeper personalization via AI. Shares of Bumble surged in recent trading as investors reassessed growth prospects.
3. KLA Authorized A New $7 Billion Buyback And A 21% Dividend Increase, reinforcing its capital-return commitment. The chipmaking tools provider also reaffirmed its near-term outlook. KLA said the authorization has no fixed end date and supplements an existing repurchase program.
4. Goldman Sachs Cut Its U.S. Economic Outlook Citing The Iran War’s Inflation Shock, and pushed back expected Fed cuts. The bank lifted its PCE inflation view to levels above the Fed target and now sees rate cuts more likely later in the year. Goldman Sachs also lowered its GDP growth forecast and sees higher recession risk if shocks persist.
5. Iran’s New Supreme Leader Called For Maintaining The Strait Of Hormuz Closure And Closing U.S. Bases, escalating supply concerns. The statement, carried by state media, stressed using the strait as leverage. Oil prices extended gains and energy shares, including U.S. producers, climbed following the remarks.
6. The U.S. Navy Said It Is Not Yet Ready To Escort Oil Tankers Through The Strait Of Hormuz, fueling further oil price gains. Officials indicated readiness could improve in the near term, but shipping remained constrained. The shortfall in immediate escorts reinforced supply disruption worries.
7. The U.S. Will Release 172 Million Barrels From The Strategic Petroleum Reserve, aiming to ease energy costs. The Energy Department plan, discussed recently by officials, is intended to bridge near-term supply strains. Delivery is expected to take several months to complete.
8. The International Energy Agency Agreed To A Coordinated 400 Million-Barrel Oil Release, responding to war-driven supply risks. The move seeks to stabilize markets during heightened geopolitical uncertainty. Despite the pledge, benchmark crude remained elevated amid ongoing disruptions.
9. Chubb Was Selected As Lead Underwriter For A U.S. Program Insuring Ships Crossing The Strait, supporting maritime trade. The arrangement aims to facilitate coverage for vessels navigating the high-risk route. Chubb’s role could help maintain limited cargo flows during the conflict.
10. U.S. Initial Jobless Claims Came In At 213K, slightly better than expectations and hinting at a still-resilient labor market. The reading was marginally below consensus and near the revised prior level. Labor steadiness may complicate the inflation outlook as energy costs rise.
Sources: Reuters, Dow Jones, Tiger Newspress, public market dataDisclaimer: This content is for reference only and does not constitute investment advice.
