Market
July 30, U.S. stocks opened on a strong note as technology optimism lifted benchmarks: the Dow Jones rose 0.7% to 51,933, the S&P 500 added 0.9% to 7,382 and the tech-heavy Nasdaq Composite leapt 1.7% to 24,848. Softer jobless claims and upbeat mega-cap results fueled risk appetite, while Treasury yields edged lower and the dollar weakened.
Bloom Energy Corp soars 15.8% after unveiling a multibillion-dollar hydrogen fuel-cell deal; Western Digital jumps 11.9% amid renewed Kioxia merger chatter; Microsoft spikes 11.7% on record AI cloud revenue and raised guidance; Micron Technology climbs 7.6% following a surprise profit beat; Advanced Micro Devices gains 7.6% as analysts praise its new AI accelerator; Intel advances 7.4% on reports of a major foundry partnership. On the downside, Meta Platforms, Inc. falls 8.8% after an FTC antitrust setback, ServiceNow slips 3.0% on margin concerns and PDD Holdings Inc loses 2.6% as Beijing launches a pricing probe.
Elsewhere, Silicon Motion Technology rockets 33.5% on revived takeover speculation, Direxion Daily Semiconductors Bull 3x Shares adds 17.2% as traders pile into leveraged chip exposure, TAL Education Group jumps 13.6% on robust summer enrollment trends, Marvell Technology rallies 8.7% after upbeat AI infrastructure commentary, Taiwan Semiconductor Manufacturing gains 4.1% on strong July sales, and VNET Group climbs 3.2% amid buyout rumors, underscoring broad enthusiasm for tech and education names.
News
Microsoft tops estimates and lifts outlook, shares surge. The software giant reported stronger-than-expected fiscal Q4 results and highlighted accelerating AI-related cloud demand, sending the stock up more than 11% in early trade.
Micron Technology returns to profitability and guides higher. The memory maker posted an unexpected quarterly profit and projected double-digit revenue growth, triggering a 7.6% jump and lifting peers across the semiconductor space.
Meta Platforms, Inc. hit by revived FTC antitrust case. Regulators moved forward with efforts to unwind the company’s past acquisitions of Instagram and WhatsApp, pressuring the shares which fell nearly 9% on potential legal headwinds.
Western Digital reopens merger talks with Kioxia. Reports of renewed negotiations to combine their NAND businesses boosted Western Digital 11.9% amid hopes for scale benefits and stronger pricing power.
Bloom Energy Corp lands $1.5 billion hydrogen deal. A long-term supply agreement with a major U.S. data-center operator ignited a 15.8% rally as investors cheered expanded clean-energy demand.
Taiwan Semiconductor Manufacturing reports robust July sales. The chip-foundry leader cited sustained AI chip orders, lifting ADRs more than 4% and reinforcing confidence in semiconductor demand.
PDD Holdings Inc faces new Chinese regulatory probe. Authorities initiated an investigation into discounting practices on e-commerce platforms, sending the stock down about 3% in New York trading.
Advanced Micro Devices draws price-target hikes ahead of AI chip launch. Several brokers raised estimates, predicting share gains from upcoming Instinct accelerators; the stock responded with an 8% advance.
Silicon Motion Technology rallies on renewed takeover speculation. Market chatter about a potential private-equity bid after a prior deal collapse pushed shares up more than 30% at the open.
U.S. Labor Department reports jobless claims at three-month low. Initial claims fell to 195,000, easing recession concerns and supporting broad gains in cyclical and tech shares.
Comments