Post-Bell｜Big Tech Powers Wall Street Rally As Semis Surge And AI Spending Soars

01 Stock Market

The U.S. major indexes closed as follows: Dow Jones up 1.19% at 52,208.06; S&P 500 up 1.66% at 7,437.63; NASDAQ up 2.78% at 25,122.18. The broad advance snapped a multi-session pullback and reflected robust risk appetite after a flurry of upbeat mega-cap earnings and renewed enthusiasm for artificial-intelligence beneficiaries.

Semiconductor and large-cap technology names topped the unusual-move leaderboard. Micron Technology (MU) up 18.36% at $874.66; Microsoft (MSFT) up 15.51% at $451.10; Direxion Daily Semiconductors Bull 3x Shares (SOXL) up 24.71% at $114.72; SanDisk (SNDK) up 25.99% at $1,279.96; SK hynix (SKHY) up 17.52% at $149.00; Intel (INTC) up 11.30% at $91.13; Advanced Micro Devices (AMD) up 13.00% at $485.39; Taiwan Semiconductor (TSM) up 7.64% at $403.31. On the downside, Meta Platforms (META) fell 7.95% at $539.03, while inverse chip ETF SOXS declined 26.29% at $53.92, highlighting the day’s pronounced rotation back into growth and AI-linked assets.

Overall, the session underscored investors’ renewed conviction in AI-driven growth themes. Strong results from cloud and chip leaders sparked a broad tech revival, lifting leveraged ETFs like TQQQ up 9.61% at $63.30 and bolstering market-tracking funds such as QQQ up 3.30% at $683.55 and SPY up 1.68% at $741.69. Despite pockets of weakness, notably in social-media, the rebound in semiconductors and software suggested risk appetite remains resilient heading into August.

02 Other Markets

U.S. 10-year Treasury yield rose by 0.00%, latest at 4.66%. USD/CNH fell 0.05%, at 6.78; USD/HKD rose 0.00%, at 7.84. U.S. Dollar Index fell 0.03%, at 99.97. WTI crude futures rose 0.51%, at $84.02 USD/bbl; COMEX gold futures rose 0.20%, at $4,169.00 USD/oz.

03 Top News

1. Amazon will boost capital spending by roughly 10% after stronger-than-expected cloud sales. Management said demand for AI services is stretching data-center capacity, prompting a planned $220 billion outlay this year. Shares climbed nearly 9% in extended trading, reinforcing confidence in AWS’s leadership.

2. Apple warned of slower revenue growth as supply constraints pinch iPhone and Mac output. Executives cited shortages of advanced chipmaking capacity and tight DRAM supplies, expecting only high-single-digit sales expansion in the current quarter. The stock slipped about 6% after hours.

3. Coinbase reported its third consecutive quarterly loss amid a “crypto winter”. Transaction revenue slid 21% year-on-year as trading volumes weakened, while total revenue fell 18.5%. Shares dipped more than 5% in late trading.

4. Microsoft’s post-earnings rally added nearly half-a-trillion dollars to its market value. A 17% surge, the biggest since 2008, followed cloud revenue and profit that beat forecasts. The move could set a new one-day record for U.S. market-cap gains.

5. Mastercard highlighted “agentic commerce” and logged 20% growth in value-added services. Management said stablecoins and AI-driven purchases can integrate with its network, reinforcing long-term relevance of card rails. Shares rose about 2.5% on the results.

6. Medical-tech firm Stryker posted stronger profit and narrowed guidance after recovering from a cyberattack. Adjusted earnings reached $3.69 per share, topping estimates, while organic sales grew up to 9.7%. The company expressed confidence in regaining momentum for the second half.

7. ExxonMobil is expected to more than double quarterly earnings on a war-driven oil price surge. Analyst forecasts indicate profit near $3.56 per share and free cash flow approaching $16 billion. Investors await signals on buybacks, dividends, or potential acquisitions.

8. Amazon-owned robotaxi firm Zoox obtained federal approval to charge passengers for driverless rides. The authorization marks the first for a purpose-built vehicle lacking traditional controls. The green light positions Zoox to commercialize its autonomous service in U.S. cities.

9. Federal Reserve Chair Kevin Warsh signaled a pause in additional rate hikes, calming bond markets. He indicated the central bank would assess whether elevated Treasury yields naturally curb inflation. The stance helped weaken the dollar and supported commodity prices.

10. Microsoft pitched itself as the “Switzerland of AI”, offering neutral orchestration across models. Analysts noted the strategy aims to position Azure as an integrator of diverse AI systems, potentially expanding addressable markets. The approach differentiates Microsoft from rivals focused on proprietary models.

Sources: Reuters, Dow Jones, public market data Disclaimer: This content is for reference only and does not constitute investment advice.