01 Stock Market
The U.S. major indexes closed as follows: Dow Jones declined 0.26% at 52,498.64; S&P 500 fell 0.79% at 7,515.34; NASDAQ dropped 1.55% at 25,873.18. A late-session sell-off in heavyweight technology and semiconductor names outweighed modest gains earlier in the day, leaving all three benchmarks in the red.
Chip-related shares drove the day’s “unusual moves”. Leveraged fund SOXL fell 13.99% at $165.37, while its bearish counterpart SOXS rose 13.97% at $4.65 as traders hedged against further weakness. Memory makers skidded, with SK hynix (SKHY) down 9.32% at $152.35 and Micron Technology (MU) down 4.32% at $937.00. Graphics-chip bellwether NVIDIA (NVDA) slid 3.52% at $203.53, and CPU rival Advanced Micro Devices (AMD) declined 4.21% at $534.39. Among the mega-caps, Apple (AAPL) inched up 0.63% at $317.31, and Microsoft (MSFT) gained 1.53% at $390.99, contrasting the broader tech retreat.
Moves in sector ETFs were equally stark. The broad tech proxy QQQ shed 1.90% at $711.74, while the flagship market tracker SPY slipped 0.77% to $749.17. In electric vehicles, Tesla (TSLA) retreated 3.19% at $394.76, whereas data-analytics name Palantir (PLTR) bucked the trend, rising 2.56% to $130.04. Overall, earnings-season anticipation and heightened Middle-East tensions kept volatility elevated and prompted a defensive tone into the close.
02 Other Markets
U.S. 10-year Treasury yield rose by 0.00%, latest at 4.61%.
USD/CNH fell 0.006%, at 6.80; USD/HKD rose 0.009%, at 7.84.
U.S. Dollar Index rose 0.02%, at 101.29.
WTI crude futures rose 1.09%, at $78.99 USD/bbl; COMEX gold futures rose 0.03%, at $4,007.00 USD/oz.
03 Top News
1. White House to Forge “Ratepayer Protection” Pact on AI Power Costs. Officials will convene utilities, data-center operators and state leaders to ensure AI-driven electricity demand is funded by tech firms, not household bills. The voluntary pledge aims to defuse voter concerns about rising energy costs as artificial-intelligence infrastructure accelerates.
2. Volkswagen Warns Up To 50,000 Additional Jobs May Be Cut To Restore Competitiveness. CEO Oliver Blume told staff the automaker’s cost base is roughly 20% above rivals. The memo noted that potential workforce reductions and possible factory repurposings are under review across brands and regions.
3. U.S. Reinstates Blockade Of Iranian Shipping, Vows To Keep Strait Of Hormuz Open. President Trump announced the move after fresh missile and drone exchanges between U.S. and Iranian forces. Tehran insists the strait remains closed, intensifying geopolitical risk and supporting higher oil prices.
4. Apple Files Trade-Secret Lawsuit Against OpenAI Amid Heightened AI Rivalry. Court filings allege the ChatGPT creator misappropriated Apple’s proprietary technology “at every level”. OpenAI denies wrongdoing, while analysts say the dispute underscores the stakes as Apple prepares for its iPhone 18 launch.
5. Goldman Sachs Upgrades NIO To “Buy” On Strong SUV Outlook And Profit Turnaround. The bank lifted its 12-month price target for the EV maker to $7, citing expected success of ES8 and ES9 models. Goldman projects NIO will reach break-even operating profit in 2026 with sales potentially doubling by 2027.
6. Citi Raises Apple Price Target To $365, Citing Upcoming iPhone 18 Catalyst. The brokerage maintains a Buy rating, arguing Apple can defend margins through selective price hikes and leverage its loyal customer base. The new forecast implies about 16% upside from recent trading levels.
7. Tesla Shifts Fremont Capacity To Build “Optimus” Humanoid Robots. A newly released video shows dismantled Model S/X lines making way for robot production equipment. The company views robotics as a multi-trillion-dollar opportunity and may update investors on progress during its late-July earnings call.
8. Strategy Authorizes Up To $1.25 Billion In Bitcoin Sales And Launches Share Buyback. The Michael Saylor-led firm has already sold $218 million of tokens this year to fund dividends and bolster dollar reserves. Analysts say the move highlights pressure on publicly listed crypto-treasury companies amid falling coin prices.
9. Trump’s Financial Filings Reveal Crypto Windfall Redirected Into Traditional Assets. Disclosures indicate more than $1.4 billion earned from family-backed digital tokens was largely invested in stocks and bonds. Experts view the strategy as a sign of caution despite the administration’s pro-crypto rhetoric.
10. Morgan Stanley Adds SpaceX To Its “Space 60” List, Rating The Company Overweight. Analysts cite the firm’s vertical integration and market leadership across the space value chain. The inclusion reflects growing investor interest in commercial space operators amid heightened satellite-launch demand.
Sources: Reuters, Dow Jones, Tiger Newspress, MT Newswires Disclaimer: This content is for reference only and does not constitute investment advice.
