01 Stock Market
U.S. stocks turned sharply lower on Thursday, the day after earnings from artificial intelligence vanguard Nvidia failed to impress investors, weighing down technology shares which have provided muscle to the recent rally.
A pivot back to cyclical sectors helped keep the Dow nominally higher, while a 3.2% drop in the Philadelphia SE Semiconductor index helped drag the tech-laden Nasdaq down 1.2%.
Dow Jones up 0.03% at 49,499.20; S&P 500 down 0.54% at 6,908.86; NASDAQ down 1.18% at 22,878.38. A weak close in megacap tech and chips weighed on growth indices while the Dow steadied. Moves were driven by earnings and guidance from key tech names and continued rotation across AI hardware and software exposures.
Semiconductors and select tech names saw unusual moves. “Nvidia down 5.46% at $184.89.” “AMD down 3.41% at $203.68.” “Broadcom down 3.19% at $321.70.” “Intel down 3.03% at $45.46.” “TSMC down 2.82% at $376.81.” “Microsoft up 0.28% at $401.72.” “Alphabet down 1.88% at $307.15.” “Amazon down 1.29% at $207.92.” “Tesla down 2.11% at $408.58.” “IONQ up 21.70% at $40.88.” “Palantir up 1.30% at $135.94.” “Netflix up 2.29% at $84.59.” “Circle up 4.90% at $87.21.” “EOSE down 39.44% at $6.74.” “NVDL down 11.21% at $83.52.” “SOXL down 9.07% at $65.34.” “QQQ down 1.21% at $609.24.” “SPY down 0.56% at $689.30.” “AGQ up 0.91% at $174.20.” “SLV up 0.51% at $80.45.”
Catalysts behind these moves centered on earnings, guidance, and company-specific headlines. Nvidia’s upbeat sales outlook met a cautious reception, pressuring chip peers, while IONQ surged on a strong revenue beat and raised outlook. Circle advanced on better-than-expected revenue tied to rising USDC circulation and regulatory progress. Leveraged chip ETFs such as SOXL and NVDA-linked NVDL amplified semiconductor downside, while silver proxies AGQ and SLV firmed modestly.
02 Other Markets
U.S. 10-year Treasury yield rose by 0.00%, latest at 4.02.
USD/CNH rose 0.00%, at 6.84; USD/HKD fell 0.0051%, at 7.82.
U.S. Dollar Index fell 0.0174%, at 97.77.
WTI crude futures rose 0.12%, at 65.29 USD/bbl; COMEX gold futures rose 0.12%, at 5200.20 USD/oz.
03 Top News
Paramount Wins the Bidding War for Warner Bros. as Netflix Walks Away
Netflix announced that it will not raise its bid for Warner Bros. Discovery after the media giant's board deemed a sweetened, all‑company takeover offer from Paramount Skydance Corp as "superior."
The streaming company said a higher price for Warner Bros. was no longer financially attractive. The revised Paramount offer was at a purchase price of $31.00 per share in cash, a one-dollar increase from its earlier bid, which valued the company at around $108B.
"This year, we'll invest approximately $20 billion in quality films and series and will expand our entertaining offering. Consistent with our capital allocation policy, we'll also resume our share repurchase program," read a statement from Netflix.
Google Signs Multibillion-Dollar AI Chip Deal with Meta
Meta Platforms, Inc. has signed a deal to rent Alphabet's AI chips, known as tensor processing units, to develop new AI models, the Information reported on Thursday, citing a person involved in the talks.
The multi-year deal is worth billions of dollars, the report added.
Broadcom Aims to Sell 1M 3D Stacked Chips by 2027: Report
Broadcom said that it expects to sell at least 1M chips by 2027 based on its stacked design technology, Reuters reported, citing Harish Bharadwaj, vice president of product marketing at Broadcom.
Bharadwaj said the 1M chips the company projects it will sell are based on an approach Broadcom developed, which stacks two chips on top of each other, allowing the distinct pieces of silicon to be tightly bound to improve the speed at which data can be transferred from one chip to another, the report added.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: This content is for reference only and does not constitute investment advice.
