01 Stock Market
The U.S. major indexes closed as follows: Dow Jones up 1.24% at 49,910.59; S&P 500 up 1.46% at 7,365.12; NASDAQ up 2.02% at 25,838.94. A strong rebound in semiconductor names helped the tech-heavy benchmark outpace its peers, while the blue-chip Dow also finished comfortably higher.
Chipmakers dominated the session’s unusual-move list. Advanced Micro Devices (AMD up 18.61% at $421.39) surged after upbeat guidance, while NVIDIA (NVDA up 5.77% at $207.83) set fresh highs amid persistent AI enthusiasm. ARM Holdings (ARM up 13.63% at $237.30) rallied on data-center optimism despite smartphone headwinds. Super Micro Computer (SMCI up 24.54% at $34.66) extended its momentum, and leveraged fund SOXL (SOXL up 15.05% at $165.85) mirrored the sector’s strength, while inverse counterpart SOXS (SOXS fell 14.77% at $9.81) slumped. Intel (INTC up 4.49% at $113.01), Qualcomm (QCOM up 3.23% at $192.57) and Taiwan Semi (TSM up 6.36% at $419.50) also posted solid advances, underscoring broad demand for AI-related hardware.
Gains extended beyond the pure-play chip arena. Apple (AAPL up 1.17% at $287.51) and Microsoft (MSFT up 0.63% at $413.96) added modestly, while Tesla (TSLA up 2.40% at $398.73) rebounded despite ongoing recall headlines. Oracle (ORCL up 4.68% at $194.03) and Alphabet Class C (GOOG up 2.83% at $395.14) climbed alongside the wider tech rally. Conversely, Palantir (PLTR fell 1.56% at $133.79) and Lumentum (LITE fell 5.06% at $944.28) lagged as investors rotated toward higher-beta winners.
02 Other Markets
U.S. 10-year Treasury yield was unchanged, up 0.00%, latest at 4.35%.
USD/CNH fell 0.01%, at 6.85; USD/HKD fell 0.0063%, at 7.84.
U.S. Dollar Index fell 0.0010%, at 98.01.
WTI crude futures rose 0.80%, at 95.84 USD/bbl; COMEX gold futures rose 0.21%, at 4,704.00 USD/oz.
03 Top News
1. Arm forecast slower smartphone royalties but touted robust AI data-center demand. Management signalled phone unit growth has turned negative, yet expects new AGI CPUs to deliver over $2 billion in sales across 2027-28. Shares initially jumped before sliding 7% in late trading.
2. AMD’s upbeat results and guidance triggered analyst upgrades and an 18%+ share surge. Seaport Research, Goldman Sachs and Bernstein all shifted to bullish stances, citing accelerating CPU demand and expanding manufacturing capacity at TSMC. Some analysts now model adjusted EPS above $14 by 2027.
3. Corning and Nvidia launched a multiyear partnership to boost U.S. optical connectivity production. The plan will increase domestic capacity tenfold and add over 3,000 jobs through new facilities in North Carolina and Texas. Corning shares jumped 17% on the announcement.
4. Hut 8 signed a 15-year, $9.8 billion lease for its Beacon Point AI data-center campus in Texas. The 352 MW first phase will house Nvidia-based systems for large-scale AI training, highlighting surging demand for high-power digital infrastructure. Hut 8 shares spiked 36%.
5. Reports of a potential U.S.–Iran agreement to end regional conflict pressured oil prices. WTI crude fell about 5% intraday as traders anticipated reduced geopolitical risk. Equity markets initially rallied more than 500 Dow points before paring gains on later caution from U.S. officials.
6. U.S. private payrolls grew by 109 K in April, topping forecasts of 99 K. The ADP release suggested a resilient labor market, though job creation remains below early-year levels. Markets interpreted the data as supportive of a “soft landing” narrative.
7. UBS raised Arm’s price target to $245, projecting a fivefold jump in CPU attach rates for AI servers by 2030. The bank expects the server CPU market to expand to $170 billion, with Arm well positioned to capture share alongside Intel and AMD.
8. Walt Disney reported 7% revenue growth across all segments in its fiscal second quarter. Entertainment sales rose 10% on stronger subscription and box-office contributions, while Experiences gained 7% amid resilient theme-park demand. Investors welcomed the diversified momentum.
9. Uber beat expectations with a 33% leap in adjusted EBITDA and double-digit revenue growth. Mobility and Delivery divisions both expanded, offsetting lingering Freight weakness. Shares advanced in extended trade as investors applauded the improving profitability trajectory.
10. Goldman Sachs reiterated Nvidia as “Buy,” labeling it the high-performance AI solutions leader. The bank believes Nvidia can maintain dominant market share across training and inference workloads, underpinned by its accelerating product roadmap and ecosystem advantages.
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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