Post-Bell｜Tech Pullback Drags Nasdaq Lower As Yields Steady And Oil Climbs

01 Stock Market

The U.S. major indexes closed as follows: Dow Jones declined 0.36% at 49,310.32; S&P 500 declined 0.41% at 7,108.40; NASDAQ fell 0.89% at 24,438.50. A cautious mood prevailed after a wave of tech‐sector earnings and geopolitical headlines, prompting broad risk‐off positioning into the close.

Sharp single-day swings surfaced across several high-profile names. Among the biggest moves, Tesla (TSLA) fell 3.56% at $373.72 after outlining heavier AI-focused capital spending, while NVIDIA (NVDA) slid 1.41% at $199.64. Software heavyweights were volatile: ServiceNow (NOW) plunged 17.75% at $84.78 on delayed Middle-East contracts, and Microsoft (MSFT) dropped 3.97% at $415.75. Semiconductor sentiment was mixed; leveraged ETF SOXL jumped 6.75% at $112.77, whereas inverse peer SOXS fell 6.55% at $15.70. Chipmakers showed divergence: Intel (INTC) gained 2.31% at $66.78 on upbeat guidance, AMD inched 0.62% higher at $305.33, but memory leader Micron (MU) edged 1.18% lower at $481.72. Elsewhere, nuclear-power start-up Oklo (OKLO) rose 5.59% at $76.46 on an AI-energy partnership, whereas rental-car operator Avis Budget (CAR) plunged 48.38% at $229.14 as its short-squeeze cooled.

Sector rotation favored select AI infrastructure plays while pressuring megacap growth. Gains in niche chips and data-center enablers contrasted with pronounced weakness across software and electric-vehicle leaders, underscoring an earnings season that is magnifying winners and losers in the technology space and reinforcing the market’s sensitivity to forward spending plans.

02 Other Markets

U.S. 10-year Treasury yield was unchanged, latest at 4.32%.

USD/CNH rose 0.07%, at 6.87; USD/HKD rose 0.01%, at 7.83.

U.S. Dollar Index rose 0.01%, at 98.80.

WTI crude futures rose 1.29%, at 97.09 USD/bbl; COMEX gold futures fell 0.30%, at 4,709.60 USD/oz.

03 Top News

1. Intel Forecasts Revenue Above Expectations, Lifting Outlook. The chipmaker guided for second-quarter sales of $13.8 billion – $14.8 billion, topping LSEG consensus of $13.07 billion. Management cited surging demand for AI-oriented server CPUs and new foundry wins, including a deal with Tesla’s Terafab project, sending shares sharply higher in after-hours trading.

2. Applied Digital Secures $7.5 Billion, 15-Year Data-Center Lease. The company signed a long-term agreement with an unnamed U.S. hyperscaler for 300 MW of capacity at its Delta Forge 1 site. The deal boosts total contracted revenue above $23 billion and propelled the stock up 14% as investors welcomed the validation of growing AI infrastructure demand.

3. Tesla Boosts 2026 Capital Expenditure Plan to Over $25 Billion. CEO Elon Musk said heavier investment in AI, robotics and chip development is “well justified” to create future revenue streams. While first-quarter free cash flow surprised positively at $1.44 billion, shares slipped amid worries that extended spending could pressure near-term profitability.

4. Lululemon Shares Drop 12% After Naming Former Nike Executive as CEO. The appointment of Heidi O’Neill failed to calm investors concerned about slowing growth and ongoing activist pressure. Analysts warned the company still faces market-share erosion and a proxy battle, suggesting a lengthy turnaround ahead.

5. Avis Budget Plunges 29% as Short-Squeeze Momentum Fades. The rental-car operator’s stock retreat followed days of extreme volatility driven by tight float conditions and heavy short interest. Analysts cautioned that potential share issuance and lofty valuation could weigh on the stock until fundamental results are released.

6. Netflix Adds $25 Billion to Share Buyback Authorization. Following the collapse of a planned Warner Bros acquisition, the streaming giant expanded its repurchase program, signaling confidence in cash-flow generation. Investors welcomed the move, with shares edging higher in pre-market trading.

7. American Airlines Cuts Full-Year Profit Guidance Amid Soaring Jet Fuel Costs. The carrier now expects earnings between a loss of $0.40 and a profit of $1.10 per share, compared with prior guidance of up to $2.70. Fuel prices have almost doubled since Middle-East tensions flared, forcing route adjustments and fee increases.

8. U.S. Weekly Jobless Claims Rise Modestly, Labor Market Remains Stable. Initial claims increased by 6,000 to 214,000, suggesting continued resilience despite economic uncertainty tied to the Iran conflict. Continuing claims ticked up to 1.821 million, signaling steady but cooling hiring momentum.

9. Super Micro Computer Sinks on Reported $1.4 Billion Oracle Contract Loss. Research firm Bluefin said Oracle canceled hundreds of Nvidia GPU server racks, citing legal issues involving a company co-founder. The potential revenue hit and inventory concerns dragged shares down 12%.

10. U.S. Orders Navy to Counter Mine Threats in Strait of Hormuz. President Donald Trump instructed naval forces to “shoot any boat” laying mines, asserting control over the crucial oil-shipping chokepoint. The mandate underscores escalating regional tensions that have already propelled energy prices higher.