01 Stock Market
The U.S. major indexes closed as follows: the Dow Jones Industrial Average up 0.17% at 49,590.20; the S&P 500 up 0.16% at 6,977.27; and the Nasdaq Composite up 0.26% at 23,733.90.
Unusual-move stocks saw outsized swings across AI, chips, e-commerce and precious metals proxies. BABA up 10.17% at $166.31; KC up 21.60% at $13.40; XPEV up 8.44% at $21.71; BIDU up 6.07% at $152.26; TSM up 2.52% at $331.77; AMD up 2.22% at $207.69; INTC down 3.27% at $44.06; NVDA up 0.04% at $184.94; GOOG up 1.09% at $332.73; META down 1.70% at $641.97; TSLA up 0.89% at $448.96; ORCL up 3.10% at $204.68; TEM up 4.51% at $69.26; SLV up 6.70% at $77.23; AGQ up 13.58% at $222.49; AMZN down 0.37% at $246.47; IREN up 9.34% at $50.33; RKLB up 3.59% at $87.90.
U.S.-listed Chinese equities broadly strengthened. Notables included Alibaba up 10.17% at $166.31, Kingsoft Cloud up 21.60% at $13.40, Baidu up 6.07% at $152.26, XPeng up 8.44% at $21.71, NIO up 4.53% at $4.85, Tencent Music up 2.25% at $17.74, Trip.com up 4.36% at $78.96, and TAL Education up 10.35% at $12.26, reflecting strong ADR momentum alongside AI and semiconductor leaders.
02 Other Markets
U.S. 10-year Treasury yield fell by 0.19%, latest at 4.18.
USD/CNH was flat, 0.00%, at 6.97; USD/HKD fell 0.0051%, at 7.80.
U.S. Dollar Index rose 0.01%, at 98.89.
WTI crude futures rose 0.61%, at 59.86 USD/bbl; COMEX gold futures fell 0.40%, at 4,596.20 USD/oz.
03 Top News
The U.S. administration announced a 25% tariff on countries doing business with Iran, signaling tougher trade enforcement. The move aims to deter economic links with Iran and could affect multinational supply chains and bilateral trade flows. Companies with exposure to Iran-related trade may face increased compliance risk and potential cost pressures.
The Department of Justice opened a criminal investigation into Fed Chair Jerome Powell, escalating pressure on the central bank. The probe relates to testimony and has raised concerns about Federal Reserve independence. Investors reacted defensively, with safe-haven demand increasing and policy uncertainty elevated.
The President proposed a one-year cap on credit-card APR at 10%, raising the prospect of significant changes to consumer finance. Analysts noted such a cap may require legislation and could tighten lending standards if implemented. Cards-sensitive lenders faced pressure, while BNPL providers saw interest as potential beneficiaries.
Apple selected Google’s Gemini to power future AI features in Siri, deepening Big Tech collaboration. The multi-year partnership will leverage Gemini models and cloud infrastructure to enhance Apple Intelligence capabilities. The alignment underscores intensifying competition in consumer AI ecosystems.
Alphabet crossed a $4 trillion market-cap milestone, joining the largest global tech leaders. The move came amid optimism around AI model performance and platform partnerships. Alphabet now sits alongside Nvidia, Apple, and Microsoft in the ultra-large-cap cohort, reinforcing investor confidence in AI-driven growth.
Nvidia and Eli Lilly launched an AI co-innovation lab with up to $1 billion in committed investment to accelerate drug discovery. The initiative will use Nvidia BioNeMo and Vera Rubin architecture with Lilly’s medical expertise. The collaboration targets advanced AI models and robotics to scale development of new medicines.
Walmart was named to replace AstraZeneca in the Nasdaq-100, with shares hitting an all-time high. Index inclusion often drives incremental demand from passive funds and benchmarked strategies. The change highlights the growing influence of diversified retailers in major equity benchmarks.
Meta appointed Dina Powell McCormick as President and Vice Chairman, strengthening its executive bench. The leadership addition supports Meta’s strategic priorities across platforms and infrastructure. Governance continuity and expanded senior oversight may aid execution in AI and metaverse initiatives.
UnitedHealth Group faced scrutiny after a Senate committee report found aggressive risk-adjustment tactics in Medicare Advantage. The review suggested the company systematized diagnosis collection to boost payments. Heightened regulatory attention could lead to compliance changes and potential reimbursement impacts.
Abercrombie & Fitch lowered its annual net sales growth outlook, prompting a sharp share-price decline. The retailer now guides to at least 6% growth, down from a higher range previously. The tempered forecast raises questions on demand durability and margin resilience in the apparel category.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: This content is for reference only and does not constitute investment advice.