01 Stock Market
The U.S. major indexes closed as follows: Dow Jones declined 0.14% at 49,693.20; S&P 500 rose 0.58% at 7,444.25; NASDAQ advanced 1.20% at 26,402.34.
Chipmakers and mega-cap tech names dominated the session’s unusual moves. Micron Technology up 4.83% at $803.63, NVIDIA up 2.29% at $225.83, Tesla up 2.73% at $445.27, and Alphabet up 3.97% at $399.04 continued their momentum on hopes of sustained AI demand. Leveraged play Direxion Daily Semiconductors Bull 3× Shares rallied, with SOXL up 6.79% at $184.24, while its bearish counterpart SOXS fell 6.70% at $8.35. Stand-out movers included Nebius Group, with NBIS up 15.72% at $207.27, Wolfspeed WOLF up 16.53% at $62.60, and Applied Optoelectronics AAOI up 18.49% at $223.10. Conversely, Palantir PLTR fell 4.37% at $130.05.
Chinese-linked ADRs added breadth to the advance. Alibaba BABA up 8.18% at $145.81, Baidu BIDU up 7.55% at $150.50, and JD.com JD up 7.24% at $33.77 led the e-commerce complex, helped by upbeat earnings and policy optimism. Electric-vehicle peers NIO up 7.57% at $6.54, Li Auto up 6.83% at $20.02, and XPeng up 3.22% at $16.68 climbed alongside broader risk appetite. Despite the rally, Intel INTC declined 0.27% at $120.29, and Direxion Daily Semiconductors Bear 3× Shares (SOXS) retreated.
02 Other Markets
U.S. 10-year Treasury yield rose by 0.00%, latest at 4.48%.
USD/CNH fell 0.05%, at 6.84; USD/HKD fell 0.003%, at 7.83.
U.S. Dollar Index fell 0.02%, at 98.45.
WTI crude futures fell 0.18%, at 96.64 USD/bbl; COMEX gold futures rose 0.02%, at 4,707.50 USD/oz.
03 Top News
1. Nvidia’s Jensen Huang joined a high-profile U.S. business delegation to Beijing. The last-minute invitation to board Air Force One alongside other CEOs is seen by investors as a positive sign for potential relaxation of chip-export curbs to China. Nvidia shares added momentum on expectations of wider market access for its H200 AI processors.
2. Tesla rallied as Elon Musk traveled to China seeking Full Self Driving approval. Market hopes center on imminent regulatory clearance that could unlock a vast subscription opportunity for Tesla’s autonomous-software suite. The visit also fuels speculation about expanded robotaxi and humanoid-robot production plans.
3. AI-cloud specialist Nebius reported revenue soaring nearly eightfold and announced a new Pennsylvania data center. The company lifted guidance for contracted power capacity while cautioning that aggressive capital spending will continue to pressure margins. Shares surged on the growth outlook.
4. Alibaba signaled it will exceed its three-year artificial-intelligence investment target. Executives emphasized that gaining market share in quick-commerce and cloud remains the priority over near-term margins, sending U.S.-listed shares higher despite a sharp drop in quarterly profit.
5. Tencent’s profit missed forecasts amid heavier AI spending, but advertising and gaming revenues improved. Management pledged additional capital-expenditure increases to bolster in-house large language models as competition with domestic peers intensifies.
6. Tower Semiconductor projected stronger sales and secured $1.3 billion in silicon-photonics chip orders for AI data centers. The foundry also received advance payments to lock in future capacity, supporting its path toward multi-billion-dollar annual revenue goals.
7. Marvell Technology shares jumped after AMD disclosed a new equity stake worth about $10 million. The filing reinforced confidence in Marvell’s positioning within advanced connectivity and data-center chips.
8. Dynatrace posted a sharp earnings drop as operating costs outpaced revenue growth. While sales climbed double digits, R&D and marketing expenses squeezed margins, and the stock declined as investors weighed guidance against escalating investments.
9. U.S. Producer Price Index recorded its largest monthly gain in roughly four years, reinforcing inflation concerns. Broad-based increases across goods and services highlighted ongoing supply-chain strains linked to Middle East tensions, complicating the Federal Reserve’s policy outlook.
10. Morgan Stanley raised its year-end S&P 500 target to 8,000, citing improved earnings breadth and risk repricing. Strategists argued that recent market pullbacks have already absorbed geopolitical and macro risks, paving the way for further gains even without imminent Fed rate cuts.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: This content is for reference only and does not constitute investment advice.
