01 Stock Market
The U.S. major indexes closed as follows: Dow Jones up 0.29% at 52,658.64; S&P 500 up 0.38% at 7,572.40; NASDAQ up 0.62% at 26,269.23. The trio of benchmarks shrugged off pockets of volatility to notch modest gains, with broad advances in technology and communication names outweighing weakness in select chipmakers.
Big single-day swings highlighted several unusual-move stocks. PayPal (PYPL) jumped 17.20% to $55.52 after reports of a $53 billion buy-out approach. In mega-cap tech, Apple (AAPL) gained 4.01% to $327.50, while Alphabet (GOOG) rose 3.60% to $370.21. Memory names tumbled: Micron (MU) declined 8.02% to $904.28 and SK Hynix (SKHY) fell 9.00% to $176.46, dragging related ETFs such as SOXL down 6.29% at $165.55. Conversely, inverse fund SOXS rallied 7.43% to $45.98. Among other notable movers, Microsoft (MSFT) advanced 2.78% to $395.63, while PayPal’s surge contrasted with IBM, which fell 2.70% to $211.20 after a cautious outlook.
Sector rotation remained evident as macro data and earnings guides steered flows. Strength in software-as-a-service, select megacap platforms and consumer technology offset semiconductor profit-taking, while upbeat corporate guidance from financial heavyweights and AI-linked firms helped underpin sentiment. Risk appetite, however, stayed measured ahead of forthcoming earnings from major tech and auto names, keeping traders focused on company-specific catalysts rather than chasing broad index breakouts.
02 Other Markets
U.S. 10-year Treasury yield rose by 0.00%, latest at 4.54%.
USD/CNH fell 0.0162%, at 6.79; USD/HKD fell 0.0008%, at 7.84.
U.S. Dollar Index fell 0.0199%, at 100.48.
WTI crude futures rose 0.81%, at 79.76 USD/bbl; COMEX gold futures rose 0.35%, at 4,065.90 USD/oz.
03 Top News
1. Stripe and Advent International have jointly offered to acquire PayPal for about $53 billion. The cash bid at $60.50 per share implies a roughly 28% premium to PayPal’s prior close. Banks have reportedly committed close to $50 billion in financing to back the proposal, sending PayPal shares sharply higher.
2. SpaceX shares have slipped toward their IPO offer price, raising market confidence concerns. The stock closed at $136.08, just above its $135 listing level, after a volatile month following its high-profile debut that once valued the company above $2 trillion. Analysts warn a dip below the issue price could chill sentiment for other big tech IPOs.
3. Morgan Stanley beat second-quarter profit forecasts on robust M&A advisory and trading revenue. Net income rose to $5.58 billion ($3.46 per share), topping consensus on surging deal fees and record wealth-management revenue of $8.9 billion. Total client assets surpassed $10 trillion, meeting the bank’s long-held strategic goal.
4. Dutch chip-equipment maker ASML lifted its full-year revenue outlook and plans a 30% capacity boost. Strong orders for EUV lithography systems used in AI-related semiconductor production drove the upgrade. Management cited “extremely strong” demand visibility from global foundries expanding cutting-edge nodes.
5. BlackRock set a new assets-under-management record above $15 trillion and increased its share-buyback plan. The world’s largest asset manager attracted $192 billion in quarterly net inflows and authorized an additional $2 billion for repurchases, signaling confidence in sustained fee growth.
6. Chinese AI pioneer DeepSeek is eyeing up to ¥50 billion in fresh funding at a ¥500 billion valuation ahead of a STAR Market IPO. Sources say the company also aims to file for mainland listing within the year as it accelerates spending on data centers, AI agents and in-house chip development.
7. U.S. Producer Price Index fell 0.3% in June, the sharpest monthly decline in 14 months. Lower energy costs, including a 12% drop in gasoline prices, drove the pullback, offering further signs of cooling inflation even as Middle East tensions keep oil markets volatile.
8. Fed Chair Kevin Warsh emphasized that artificial-intelligence investments could lift long-term productivity without necessarily sparking persistent inflation. Speaking in Washington, he noted AI’s dual role as a short-term disruptor and long-term job creator, adding the Federal Reserve remains vigilant on both wage trends and energy-driven price pressures.
9. Warren Buffett acknowledged missing earlier opportunities in Google but revealed Berkshire Hathaway now holds about $31 billion in Alphabet shares. In a CNBC interview, Buffett praised Alphabet’s track record and reiterated his enduring confidence in Berkshire’s substantial Apple stake, highlighting the conglomerate’s tech exposure strategy.
10. Netflix faces mounting scrutiny over user engagement and ad-supported growth ahead of its earnings release. Analysts expect revenue to slow to $12.59 billion, with advertising projected to contribute $706 million. Competitive pressure from traditional media, YouTube and mobile viewing is testing the streaming giant’s next phase of expansion.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data Disclaimer: This content is for reference only and does not constitute investment advice.
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