01 Stock Market
The U.S. major indexes closed as follows: Dow Jones up 0.11% at 49,760.56; S&P 500 declined 0.16% at 7,400.96; NASDAQ declined 0.71% at 26,088.20. Mixed sector performance left the blue-chip gauge marginally higher while tech benchmarks retreated.
Semiconductor and AI-linked names dominated the session’s unusual movers. Micron Technology (MU fell 3.61% at $766.58), Intel (INTC fell 6.82% at $120.61) and Qualcomm (QCOM fell 11.46% at $210.31) reversed course after rapid rallies. Nvidia (NVDA rose 0.61% at $220.78) and Apple (AAPL rose 0.72% at $294.80) bucked the weakness, while Tesla (TSLA fell 2.60% at $433.45) eased. Leveraged products swung sharply: Direxion Daily Semiconductors Bull 3x Shares (SOXL fell 9.40% at $172.52) versus its bearish counterpart Direxion Daily Semiconductors Bear 3x Shares (SOXS rose 9.15% at $8.95). The Roundhill Memory ETF (DRAM fell 6.86% at $51.30) and SanDisk (SNDK fell 6.17% at $1,452.02) weakened, whereas Quantum Computing (QUBT jumped 15.72% at $11.78) and Applied Optoelectronics (AAOI rose 1.83% at $188.28) advanced. Taiwan Semiconductor (TSM fell 1.79% at $397.28) and Microsoft (MSFT fell 1.18% at $407.77) rounded out key movers.
Exchange-traded instruments amplified intraday volatility. High-beta ProShares UltraPro QQQ (TQQQ fell 2.60% at $74.96) and Direxion Daily TSLA Bull 2X Shares (TSLL fell 5.20% at $15.96) mirrored the tech pull-back, while the broad-based Vanguard S&P 500 ETF (VOO fell 0.13% at $678.67) edged lower. Sea Ltd (SE surged 13.14% at $96.02) outperformed on upbeat results, whereas Palantir Technologies (PLTR fell 0.65% at $136.00) softened. The contrasting moves underscored investors’ selective risk appetite as corporate catalysts steered individual names.
02 Other Markets
U.S. 10-year Treasury yield rose by 0.00%, latest at 4.46%.
USD/CNH fell 0.03%, at 6.84; USD/HKD fell 0.00%, at 7.83.
U.S. Dollar Index fell 0.01%, at 98.29.
WTI crude futures fell 0.44%, at 98.08 USD/bbl; COMEX gold futures rose 0.80%, at 4,724.10 USD/oz.
03 Top News
1. Oklo’s quarterly loss widened but it secured a key Nuclear Regulatory Commission approval for its Aurora reactor. The start-up reported a net loss of $33.1 million yet ended the quarter with $1.6 billion in cash equivalents. Management reiterated plans to launch commercial operations by 2028.
2. Cerebras Systems signalled it will price its IPO above an already raised range amid demand over twenty-times supply. The AI-chip firm is offering 30 million shares at $150–$160, potentially raising about $4.8 billion and rivaling the largest semiconductor listings on record.
3. Trian Fund Management is soliciting backing to take Wendy’s private in a prospective buy-out valued near $1.3 billion. Founder Nelson Peltz, who controls roughly 16% of the burger chain, is exploring strategic options after years of margin pressure and weak traffic.
4. The Roundhill Memory ETF has rocketed nearly 100% since its April debut, amassing about $6 billion in assets. Heavy inflows reflect investor appetite for high-bandwidth memory plays centred on Micron, SK Hynix and Samsung, with a leveraged version of the fund already in the works.
5. U.S. Consumer Price Index rose 0.6% in April, lifting the annual rate to 3.8% and dimming hopes for near-term Fed cuts. Energy costs drove the jump, and core CPI climbed 0.4%, reinforcing expectations that policy rates will stay elevated into 2027.
6. Under Armour warned of another year of shrinking revenue and guided profit far below consensus as North American sales falter. The apparel maker expects adjusted EPS of just $0.08–$0.12 and plans to trim 25% of product lines while shifting toward higher-priced performance gear.
7. eBay rejected GameStop’s $56 billion half-cash, half-stock takeover bid, deeming it “neither credible nor attractive.” The board cited financing uncertainties; GameStop’s CEO has hinted at a possible hostile approach to shareholders.
8. Sea Ltd beat first-quarter revenue forecasts with a 44% surge in Shopee sales, sending its U.S. shares up double digits. Financial-services revenue jumped 57.8%, and digital-entertainment unit Garena grew 40.6%, supporting EPS of $0.67.
9. D-Wave Quantum missed first-quarter revenue expectations, reporting $2.9 million versus analysts’ $4.1 million target. Operating expenses tied to acquisitions widened the net loss to $18.4 million, and shares slipped despite a 2,000% bookings spike.
10. Quantum Computing Inc. posted a narrower-than-expected loss and a revenue leap to $3.7 million, lifting the stock more than 15%. Recent acquisitions fueled the top-line surge, and management highlighted growing demand for its quantum solutions.
Sources: Reuters, Dow Jones, Tiger Newspress, Public Market Data Disclaimer: This content is for reference only and does not constitute investment advice.
