01 Stock Market
Wall Street ended higher on Wednesday, with the S&P 500 posting its biggest one-day percentage gain in two months, as investors were buoyed by news that a framework for an agreement on Greenland had been reached and the possibility of new U.S. tariffs on European allies had been averted.
Both the Dow Jones Industrial Average and Nasdaq Composite also enjoyed milestone days, gaining the most in percentage terms since January 5 and December 19, respectively.
The Dow Jones Industrial Average up 1.21% at 49,077.23, the S&P 500 up 1.16% at 6,875.62, and the Nasdaq Composite up 1.18% at 23,224.82. Gains were broad-based across large caps and semiconductors, with megacaps mixed and several notable outliers on both sides of the tape by the close.
Semiconductors led unusual-move stocks as enthusiasm carried into the close. NVDA up 2.95% at $183.32; INTC up 11.72% at $54.25; AMD up 7.71% at $249.80; MU up 6.61% at $389.11; SOXL up 9.56% at $63.48; TQQQ up 3.94% at $52.73; QQQ up 1.35% at $616.28; SPY up 1.15% at $685.40; VOO up 1.15% at $630.29; SNDK up 10.63% at $501.29. Among autos, TSLA up 2.91% at $431.44; leveraged peer TSLL up 5.61% at $17.33. In big platforms, META up 1.46% at $612.96; GOOG up 1.93% at $328.38; AMZN up 0.13% at $231.31; AAPL up 0.39% at $247.65; MU up 7%.
Select megacaps and software lagged while streaming slipped. MSFT down 2.29% at $444.11; ORCL down 3.36% at $173.88; AVGO down 1.14% at $328.80. In media, NFLX down 2.18% at $85.36. Among U.S.-listed China ADRs, PDD up 1.40% at $105.92. Precious-metals ETFs softened: SLV down 1.67% at $83.96; AGQ down 3.39% at $260.16. Overall, chips outperformed on momentum into earnings and product-cycle optimism, while parts of software and select defensives underperformed.
02 Other Markets
U.S. 10-year Treasury yield fell by 0.24%, latest at 4.24.
USD/CNH rose 0.00%, at 6.96; USD/HKD fell 0.0064%, at 7.80.
U.S. Dollar Index rose 0.0820%, at 98.87.
WTI crude futures fell 0.28%, at 60.45 USD/bbl; COMEX gold futures fell 0.98%, at 4,790.30 USD/oz.
03 Top News
Trump Walks Back Tariffs Tied to Greenland After Reaching Arctic Framework
President Donald Trump said on Wednesday that he won't impose additional tariffs after he and NATO's Secretary General agreed to a framework for Arctic region security.
"Based upon a very productive meeting that I have had with the Secretary General of NATO, Mark Rutte, we have formed the framework of a future deal with respect to Greenland and, in fact, the entire Arctic Region," Trump posted on his social media platform.
On reaching this understanding, Trump said he won't impose the tariffs that were scheduled to go into effect on Feb. 1, 2026.
SpaceX Racing for IPO as Elon Musk Eyes Space AI Data Centers: Report
Elon Musk’s rocket company SpaceX (SPACE) is bolstering its efforts to go public amid a rush by companies to build AI data centers and put them in space, the Wall Street Journal reported.
The idea to put data centers for AI computing into space has prompted skepticism from many engineers, because of the technical challenges posed by building solar-powered AI data centers that circle Earth.
However, the idea has continued to gain traction, and Musk has become obsessed with the idea of SpaceX being the first to do it, the report added, citing people with knowledge of the matter. Such a feat would be difficult to attempt without the billions of dollars in capital an IPO could deliver.
SanDisk Has Surpassed 1,000% Performance in 6 Months
SanDisk Corp. has advanced more than 1,030% in the past six months, as artificial intelligence has emerged as the top theme in the past years.
The pioneer in flash memory became a public company in 1995 and was then acquired by Western Digital (WDC) in 2016.
Just last year, the company was re-established as a stand-alone company, adding almost 1,200% to its stock since then.
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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