01 Stock Market
The U.S. major indexes closed as follows: Dow Jones declined 1.13% at 48,941.90; S&P 500 declined 0.41% at 7,200.75; NASDAQ declined 0.19% at 25,067.80. A late-session rebound trimmed steeper intraday losses, but all three gauges still finished lower as investors weighed mixed corporate headlines against fresh geopolitical tension.
Memory-chip names dominated the day’s unusual moves. Micron Technology (MU) surged 6.31% to $576.45, while SanDisk (SNDK) jumped 5.80% to $1,255.86 and Western Digital (WDC) added 2.51% at $442.36. Oracle (ORCL) rallied 4.92% to $180.29 after upbeat software demand headlines, and Circle Internet (CRCL) soared 19.89% to $119.53 amid crypto-sector strength. On the downside, Advanced Micro Devices (AMD) fell 5.27% to $341.54, Intel (INTC) declined 3.85% to $95.78, Qualcomm (QCOM) slipped 4.88% to $168.38, and Apple (AAPL) eased 1.18% to $276.83.
Broader sector rotation reflected the day’s cross-currents. Strength in select semiconductor, cloud, and crypto-related shares contrasted with weakness in legacy hardware and large-cap consumer technology. Meanwhile, modest gains in defensive areas could not offset profit-taking in prior leaders, leaving the major averages in the red despite pockets of robust single-stock performance.
02 Other Markets
U.S. 10-year Treasury yield rose by 0.00%, latest at 4.45%.
USD/CNH rose 0.04%, at 6.86; USD/HKD rose 0.00%, at 7.83.
U.S. Dollar Index rose 0.01%, at 98.48.
WTI crude futures fell 1.37%, at 104.96 USD/bbl; COMEX gold futures fell 0.12%, at 4,527.90 USD/oz.
03 Top News
1. Grab beat first-quarter revenue expectations, signalling resilient ride-hailing and delivery demand. Sales reached $955 million, topping analyst forecasts of $921 million and prompting a 2.5% post-report share rise. The company reaffirmed its 2026 revenue outlook and highlighted AI-driven product bundles.
2. GameStop launched a bold $56 billion cash-and-stock bid for eBay at $125 per share. CEO Ryan Cohen said he is ready to take the proposal directly to eBay shareholders if rebuffed, claiming up to $2 billion in cost savings. eBay shares climbed while GameStop slipped amid concerns over deal financing.
3. Amazon unveiled “Supply Chain Services,” opening its full logistics network to third-party merchants. The end-to-end freight, distribution, and parcel offering leverages AI forecasting tools to speed deliveries. Freight rivals FedEx and UPS dropped sharply as investors weighed competitive pressures.
4. Norwegian Cruise Line cut its full-year profit outlook, citing softer demand and higher fuel costs. The company now expects $1.45–$1.79 adjusted EPS for 2026 versus a prior $2.38 view. Shares fell about 6% as management warned Middle East tensions were weighing on European bookings.
5. Tesla announced customers have logged over 10 billion miles on its supervised Full Self-Driving system, hitting a key autonomy milestone. CEO Elon Musk said the figure meets the data threshold he once set for “safe unsupervised driving,” but regulators and software upgrades still stand between the company and fully autonomous service.
6. Nebius agreed to acquire Eigen AI for $643 million and clinched a $27 billion long-term AI-infrastructure deal with Meta. The cloud-compute specialist’s stock surged to a record, prompting Goldman Sachs to lift its price target to $205 even as another broker shifted to a neutral stance on valuation concerns.
7. Berkshire Hathaway’s operating earnings rose 18% to $11.3 billion in the first quarter, buoyed by railroad and insurance strength. Despite robust cash generation, the conglomerate repurchased only $235 million of its own shares, leaving investors to debate capital-allocation priorities under CEO Greg Abel.
8. A drone strike near Fujairah, UAE, ignited petroleum tanks, lifting Brent oil futures by nearly 6%. Regional authorities cited an Iran-linked attack, amplifying supply concerns. Energy markets reacted with spikes in both Brent and WTI benchmarks before partial retracement.
9. The U.S. administration announced “Project Freedom,” aiming to escort neutral nations’ cargo ships through the Strait of Hormuz. Officials pledged naval support to alleviate shipping disruptions following heightened Gulf tensions. Maritime insurers are reassessing premiums amid evolving risk calculations.
10. Palantir faced mixed analyst sentiment ahead of its imminent earnings, with HSBC downgrading the stock over competitive pressures. Expectations call for adjusted EPS to more than double year-on-year, yet concerns over AI rivals trimmed enthusiasm. Shares closed higher by 1.36% as investors positioned for the report.
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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