01 Stock Market
The U.S. major indexes closed as follows: Dow Jones declined 0.23% at 50,461.68; S&P 500 rose 0.61% at 7,519.12; NASDAQ advanced 1.19% at 26,656.18. A late-session surge in semiconductor bellwethers helped the tech-heavy benchmark notch its strongest finish of the week, offsetting a mild pullback in blue-chip names and extending the market’s AI-fuelled momentum.
Chip leaders dominated the list of unusual movers. Micron Technology (MU) jumped 19.29% at $895.88 after a bullish analyst call propelled its market value past $1 trillion. Leveraged fund Direxion Daily Semiconductors Bull 3x Shares (SOXL) soared 18.49% at $225.79, mirroring the sector’s strength, while its bearish counterpart SOXS fell 18.63% at $6.29. Among heavyweight suppliers, Advanced Micro Devices (AMD) climbed 7.78% at $503.89 and Marvell Technology (MRVL) gained 6.08% at $208.26. Network specialist Nokia (NOK) added 6.40% at $16.46, and wireless giant Qualcomm (QCOM) rose 4.48% at $248.82 on data-center optimism. By contrast, NVIDIA (NVDA) dipped 0.22% at $214.86, and megacaps Apple (AAPL) slipped 0.16% at $308.33 while Tesla (TSLA) climbed 1.78% at $433.59.
Strength in memory, AI hardware and leveraged ETFs underscored risk appetite. The combination of record-setting price targets, fresh supply agreements and rising geopolitical tech demand kept traders firmly focused on semiconductors. Concurrent weakness in inverse funds highlighted the breadth of bullish positioning, even as broader markets balanced tech enthusiasm against lingering macro and geopolitical cross-currents.
02 Other Markets
U.S. 10-year Treasury yield fell by 0.00%, latest at 4.49%.
USD/CNH rose 0.03%, at 6.83; USD/HKD rose 0.00%, at 7.84.
U.S. Dollar Index fell 0.02%, at 99.12.
WTI crude futures fell 0.33%, at 93.58 USD/bbl; COMEX gold futures rose 0.18%, at 4,543.20 USD/oz.
03 Top News
1. Micron Technology Surges After UBS Triples Its Price Target to $1,625. The analyst cited long-term supply agreements that lock in pricing and volume for memory chips, forecasting undersupply through 2028. The upgrade pushed Micron’s market value above $1 trillion and marked its largest one-day gain in over a decade.
2. Qualcomm Signs AI Data-Center Chip Deal With ByteDance. People familiar with the matter said millions of custom Qualcomm processors will power TikTok owner ByteDance’s artificial-intelligence servers. Shares of Qualcomm climbed more than 6% as the agreement broadens its reach beyond smartphones.
3. U.S. Consumer Confidence Slips on Inflation Concerns Tied to Middle-East Conflict. The Conference Board’s May index eased to 93.1, with survey respondents citing rising energy costs and geopolitical risks. Softer sentiment contrasts with an improved labor-market view, signaling mixed signals for future consumption.
4. Iran Accuses U.S. of Ceasefire Violation in Hormozgan and Vows Retaliation. Tehran’s foreign ministry said American forces breached the truce and promised a firm response, escalating regional tensions. Energy markets turned volatile amid fears of supply disruptions in the Strait of Hormuz.
5. UBS Upgrades Vipshop to Buy, Citing Stronger Earnings Quality. Analysts argued the Chinese discount e-commerce platform offers resilient profitability and attractive shareholder returns despite muted consumer spending, lifting investor expectations for the ADR.
6. JPMorgan Boosts Cognex, Timken and Allient to Overweight on Robotics Tailwinds. The bank sees structural demand from data centers and humanoid automation supporting revenue expansion at the industrial technology trio. Upgrades reflect confidence in a robust short-cycle recovery.
7. U.S. Energy Department Selects Oklo for Advanced Plutonium Fuel Talks. The move accelerates the nuclear start-up’s plans to recycle Cold War-era plutonium into fuel for its micro-reactors. News of government engagement sent Oklo shares sharply higher as investors anticipate potential commercial partnerships.
8. Crypto Mining Stocks Rally on Digital-Asset Strength. TeraWulf jumped more than 12%, while Cipher Mining, Marathon Digital and Riot Platforms each gained over 5%. The move follows a rebound in bitcoin prices, boosting revenue expectations for power-intensive miners.
9. Samsung and Labor Union Reach Tentative Bonus Agreement, Averting Strike. The deal, pending worker approval, eases supply-chain concerns at the world’s largest memory-chip maker. Shares rose in Seoul trading, supporting the sector’s upbeat tone.
10. U.S. Central Command Conducts ‘Self-Defense’ Strikes in Southern Iran. The military targeted missile launch sites and boats suspected of mine-laying, citing protection of shipping lanes. The action contributes to heightened geopolitical risks and keeps energy traders on alert.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data Disclaimer: This content is for reference only and does not constitute investment advice.
