01 Stock Market
The U.S. major indexes closed as follows: Dow Jones declined 0.13% at 49,167.79; S&P 500 rose 0.12% at 7,173.91; NASDAQ advanced 0.20% at 24,887.10. The mixed finish reflects a rotation toward growth and chip names, allowing tech-weighted benchmarks to outpace the blue-chip average even as traders digested another batch of corporate headlines.
Semiconductor and AI-linked shares dominated the day’s unusual moves. Nvidia (NVDA) up 4.00% at $216.61; Micron (MU) up 5.60% at $524.56; Intel (INTC) up 2.97% at $84.99; SanDisk (SNDK) up 8.11% at $1,070.20; and Taiwan Semiconductor (TSM) up 0.63% at $404.98 extended the memory-chip rally. Conversely, Advanced Micro Devices (AMD) fell 3.79% at $334.63, while Marvell Technology (MRVL) declined 3.71% at $158.21. Optical-component maker POET Technologies (POET) slumped 47.35% at $7.95 after a sector-wide sell-off, and leveraged ETF SOXL dropped 3.84% at $123.39 as traders trimmed exposure to bullish chip bets.
Outside pure-play chips, mega-caps showed selective strength. Alphabet (GOOG) gained 1.81% at $348.52 and Qualcomm (QCOM) rose 0.95% at $150.26 on smartphone-AI speculation, whereas Apple (AAPL) fell 1.27% at $267.61 and Amazon (AMZN) declined 1.09% at $261.12 ahead of earnings later this week. Electric-vehicle bellwether Tesla (TSLA) added 0.63% at $378.67 amid news of option registration for its CEO, while small-cap nuclear player X-Energy (XE) surged 23.22% at $35.98, keeping alternative-energy themes in focus.
02 Other Markets
U.S. 10-year Treasury yield was unchanged by 0.00%, latest at 4.34%.
USD/CNH fell 0.02%, at 6.86; USD/HKD fell 0.00%, at 7.84.
U.S. Dollar Index fell 0.01%, at 98.47.
WTI crude futures rose 0.29%, at 96.65 USD/bbl; COMEX gold futures rose 0.22%, at 4,704.00 USD/oz.
03 Top News
1. OpenAI and Microsoft restructured their partnership to allow broader collaborations. The new pact lifts Microsoft’s exclusivity over OpenAI’s future models and caps revenue-sharing through the end of the decade. Microsoft retains access to OpenAI technologies, while the startup gains freedom to work with other cloud providers.
2. Critical Metals agreed to acquire European Lithium in a deal valued near $835 million. The all-stock transaction will raise Critical Metals’ stake to 100% in Greenland’s Tanbreez rare-earth project. Shareholders of European Lithium will receive 0.035 Critical Metals shares for each share held.
3. Shell announced a $16.4 billion takeover of Canada’s ARC Resources. The combination adds 370,000 barrels of daily production and 2 billion barrels of reserves in the Montney shale. Shell expects double-digit returns and higher free cash flow per share from 2027.
4. Verizon lifted its full-year profit forecast after unexpected wireless gains. The carrier added 55,000 post-paid phone customers, its best first-quarter performance in more than a decade. Management now targets the upper half of 750,000–1 million net adds for 2024, citing success with bundled plans.
5. Tesla registered shares tied to Elon Musk’s 2018 pay award, paving the way for eventual sales. The options must be exercised before early 2028, and stock sales are expected to cover tax liabilities. Investors are watching for potential pressure on Tesla’s share price as the exercise date approaches.
6. Qualcomm, MediaTek and Luxshare are partnering with OpenAI to create an “AI agent” smartphone. Analyst Ming-Chi Kuo said mass production could start in 2028, blending on-device and cloud intelligence. The initiative may spark a new handset upgrade cycle benefiting chip suppliers.
7. Cathie Wood’s ARK Invest trimmed its Advanced Micro Devices stake and added Amazon shares. The fund sold about 215,000 AMD shares after a sharp rally, locking in gains. Proceeds were redeployed into e-commerce and nuclear-energy themes, signaling a tactical portfolio shift.
8. Jefferies raised its price target on Nokia, citing accelerating data-center demand. The bank now sees 6% annual revenue growth and stronger optical-network orders. Nokia shares rose on expectations that AI infrastructure spending will boost long-term sales.
9. SanDisk hit fresh record highs as AI-driven memory demand tightens supply. The stock trades nearly 90% above its 100-day moving average amid robust NAND pricing. Analysts highlight continued tailwinds ahead of this week’s earnings release.
10. The U.S. Justice Department ended its probe of Fed Chair Jerome Powell, clearing a path for succession. Senator Thom Tillis withdrew his hold on Kevin Warsh’s nomination following assurances the investigation was closed. Powell must now decide whether to remain on the Board or vacate his seat when his chair term ends.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: This content is for reference only and does not constitute investment advice.
