01 Stock Market
Wall Street's three main indexes closed slightly higher after Thursday's choppy session as oil prices lost ground, with some officials citing progress in U.S.-Iran peace talks even as both sides took opposing stances over Tehran's uranium stockpile and control of the Strait of Hormuz.
After spending the morning in the red, stocks clawed their way back to gains in afternoon trading while oil prices shifted from a rally to a decline.
The U.S. major indexes closed as follows: Dow Jones up 0.55% at 50,285.66; S&P 500 up 0.17% at 7,445.72; NASDAQ up 0.09% at 26,293.10. A modest afternoon lift in technology heavyweights helped the three benchmarks notch a positive finish, shrugging off early-session caution around energy prices and geopolitics.
Chipmakers and quantum names dominated the day’s most pronounced swings. Among the top movers, Micron Technology (MU) rose 4.11% at $762.10; legacy flash-storage player SanDisk (SNDK) jumped 10.75% at $1,542.24; ARM Holdings (ARM) advanced 16.16% at $298.23; and semiconductor bull-ETF SOXL added 3.00% at $178.39. Quantum-computing specialists shone, with Rigetti Computing (RGTI) up 30.57% at $22.04, D-Wave Quantum (QBTS) up 33.37% at $25.74, and IONQ (IONQ) up 12.24% at $58.89. On the blue-chip front, IBM climbed 12.43% at $252.97, and Qualcomm (QCOM) gained 5.38% at $213.41. Not all tech names escaped pressure: NVIDIA (NVDA) declined 1.77% at $219.51, while Rocket Lab (RKLB) fell 6.58% at $125.45.
Behind the tape, investors rotated toward high-growth computing themes while trimming crowded winners. Fresh federal funding headlines buoyed quantum-computing developers, and a sharp rebound in memory-chip pricing aided the broader semiconductor complex. Conversely, profit-taking in select mega-cap AI leaders capped the NASDAQ’s upside. Strength in cyclical tech and select industrial innovators outweighed pockets of weakness in Chinese internet ADRs and space-launch plays, allowing the indices to secure modest gains by the closing bell.
02 Other Markets
U.S. 10-year Treasury yield fell by 0.27%, latest at 4.57%.
USD/CNH rose 0.05%, at 6.83; USD/HKD fell 0.00%, at 7.83.
U.S. Dollar Index rose 0.01%, at 99.20.
WTI crude futures rose 1.35%, at 97.65 USD/bbl; COMEX gold futures fell 0.16%, at 4,535.20 USD/oz.
03 Top News
IBM, D-Wave, Rigetti, GlobalFoundries Confirm Proposed U.S. Quantum Funding Awards
The Department of Commerce has signed nine letters of intent to provide just over $2B in federal incentives under the CHIPS and Science Act, as the Trump administration ramps up efforts to build a domestic quantum computing supply chain.
IBM (IBM) said it signed a letter of intent with the department to launch Anderon, a standalone quantum chip manufacturing company that would operate what IBM described as America’s first pure-play quantum foundry.
The project includes $1B in proposed CHIPS incentives from the federal government, matched by $1B in cash from IBM, along with contributions of intellectual property, assets and personnel. The foundry will be based in Albany, New York, and focus on manufacturing 300-millimeter quantum wafers.
Take-Two Sticks with 'GTA VI' Launch Timeline, Forecasts Annual Bookings Below Estimates
Take-Two Interactive forecast annual bookings below Wall Street expectations on Thursday, but reiterated the November 19 launch date for the highly awaited "Grand Theft Auto VI," sending its shares up around 7% in extended trading.
Investors and analysts are keeping a close watch on the launch of "GTA VI", as the title is expected to be a cash cow for Take-Two, potentially selling millions of copies and bringing in billions in revenue within days of launch.
SpaceX Cancels Starship V3 Test Flight
SpaceX has announced the cancellation of today's planned test flight for its Starship V3. According to Jin10, the decision was made due to unspecified reasons. The Starship V3 is part of SpaceX's ongoing efforts to develop a fully reusable spacecraft capable of carrying both crew and cargo to a variety of destinations, including Mars. The company has not yet provided a new date for the rescheduled test flight.
Sources: Reuters, Dow Jones, Tiger Newspress, Benzinga, public market data
Disclaimer: This content is for reference only and does not constitute investment advice.
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