Post-Bell｜Big Tech Strength Lifts Nasdaq While Dow Slips; Treasuries Firm, Oil Retreats

01 Stock Market

The U.S. major indexes closed as follows: Dow Jones declined 0.31% at 49,499.27; S&P 500 rose 0.29% at 7,230.12; NASDAQ gained 0.89% at 25,114.44. A late-session rally in heavyweight technology names helped the S&P 500 and NASDAQ notch modest advances, even as weakness in cyclical shares pulled the Dow into negative territory. Investors balanced upbeat corporate earnings in the semiconductor and software groups against lingering concerns over input-cost inflation and pockets of softer demand in select consumer segments.

Chipmakers and mega-caps dominated the list of unusual movers. SanDisk (SNDK) climbed 8.25% at $1,187.00 after upbeat guidance, while Micron Technology (MU) advanced 4.84% at $542.21. Intel (INTC) added 5.44% at $99.62, extending a sharp multi-week rally. Apple (AAPL) gained 3.24% at $280.14 on robust iPhone momentum, and Oracle (ORCL) jumped 6.47% at $171.83 on strong cloud demand. Tesla (TSLA) rose 2.41% at $390.82, while Advanced Micro Devices (AMD) edged up 1.71% at $360.54. On the downside, NVIDIA (NVDA) declined 0.56% at $198.45, Western Digital (WDC) eased 0.69% at $431.52, and Roblox (RBLX) fell sharply by 18.33% at $45.13 after trimming its bookings outlook.

Traders also rotated into leveraged funds tracking semiconductors and momentum tech. The Direxion Daily Semiconductors Bull 3x Shares (SOXL) advanced 2.69% at $130.40, while the 2× long Tesla product TSLL (TSLL) gained 4.81% at $13.07. Conversely, bearish exposure softened, with the Direxion Daily Semiconductors Bear 3x Shares (SOXS) down 2.41% at $12.98. Broad-based ETFs mirrored the day’s mixed tone: the SPDR S&P 500 ETF (SPY) edged up 0.28% at $720.65, whereas volatility-linked trades faded amid calmer market conditions.

02 Other Markets

03 Top News

1. Pentagon inks classified-network AI deals with seven tech leaders. Agreements give SpaceX, OpenAI, Google, NVIDIA, Reflection, Microsoft and Amazon Web Services access to high-security Impact Levels 6 and 7 environments. The Defense Department aims to accelerate data synthesis and decision-making capabilities. Officials say the move positions the military as an “AI-first” force.

2. Apple reports strongest sales growth in years and guides higher. New iPhone 17 Pro and low-cost MacBook Neo drove revenue momentum and a market-value gain of about $143 billion. Management warned of rising memory costs but highlighted resilient margins and announced a substantial share-repurchase program.

3. Chevron beats profit expectations on upstream strength despite derivative headwinds. Adjusted earnings reached $1.41 per share as higher crude prices outweighed downstream losses. The company reaffirmed plans for up to $20 billion in annual buybacks, underscoring confidence in free-cash-flow growth.

4. Intel extends record run with fresh 5% share advance. The semiconductor giant has surged roughly 125% since early April amid enthusiasm for data-center and AI chip demand. Analysts cite product roadmap execution and robust order backlogs as key tailwinds.

5. Atlassian lifts annual revenue outlook after AI-driven demand surge. The collaboration-software firm beat quarterly estimates and now targets faster top-line growth, propelling its shares more than 25% higher. Management credited enterprise uptake of new workflow automation tools.

6. Twilio raises full-year guidance on solid cloud communications momentum. First-quarter results topped projections, reflecting increased spending on customer-engagement solutions. Shares jumped over 17% as investors welcomed improving profitability signals.

7. Novo Nordisk rebrands diabetes pill as Ozempic to leverage blockbuster name. The company will launch oral semaglutide under the well-known Ozempic label across 70,000 U.S. pharmacies. Executives expect stronger demand relative to the earlier Rybelsus branding.

8. Iran sends new negotiation proposal to the United States via Pakistani mediators. The diplomatic overture, confirmed by state media, follows months of heightened regional tensions. Energy traders monitor potential implications for Middle East supply routes.

9. Berkshire Hathaway investors eye buybacks and cash deployment ahead of annual meeting. Incoming CEO Greg Abel faces questions on capital allocation and strategy after the conglomerate’s shares lagged the broader market. Analysts anticipate disclosure of first-quarter repurchase levels and cash balances.

10. BYD’s vehicle sales decline for an eighth consecutive month amid domestic demand softness. April deliveries fell 15.5% year-on-year, although overseas volumes rebounded by 35%. The protracted slump marks the firm’s longest downturn, raising scrutiny of competitive pressures in China’s EV market.